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The Latest Breaking News from International Monetary Fund

Paris summit aims to overhaul global financial system for 'climate solidarity' with South

Around 50 heads of state, along with representatives from international institutions and civil society, will attend a summit hosted by French President Emmanuel Macron on Thursday and Friday in Paris. Their objective is to develop a new global financial system so the most vulnerable countries will be better equipped to…

France 24

Paris hosts summit to secure debt relief and climate cash for developing countries

On 22 and 23 June, Paris is hosting a summit for a “New Global Financing Pact” at the Palais Brogniart. Heads of state, international organisations and representatives of civil society will be gathering to discuss ways to boost solidarity toward the Global South. The aim is also to contribute to…

The Conversation

China's economic recovery is built on increasingly shaky foundations and that could affect the whole world

Confidence in China’s post-COVID recovery has started to waver over the past week after the world’s second-largest economy reported disappointing figures for two of the major drivers of its economy: property and exports.

The Conversation

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Paris summit aims to shake up the financial system. It will test leaders' resolve on climate

Heads of state, finance leaders and activists are converging in Paris to seek ways to overhaul the International Monetary Fund and World Bank and usher the global development banks into a post-pandemic world with a rapidly changing climate

The Independent UK

South American Giant Is in Big Trouble

The second largest South American economy is once again facing record inflation, while the peso, the local currency, has lost most of its value.

The Street

Lionel Messi's Argentina Is Tanking

The second largest South American economy is once again facing record inflation, while the peso, the local currency, has lost most of its value.

The Street

Christopher McQuarrie says Edgar Wright’s feedback completely changed Mission Impossible 7

EXCLUSIVE: Christopher McQuarrie talks getting advice from fellow director Edgar Wright on Mission: Impossible – Dead Reckoning Part One

Total Film

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Debt relief urgent for poor countries hit by climate shocks, says IMF chief

Exclusive: Kristalina Georgieva calls for ‘debt for climate swaps’ ahead of world summit on new global financial pact

The Guardian - UK

Deadly tragedy off the coast of Greece exposes how human traffickers are exploiting Pakistan's economic meltdown

Pakistan is experiencing a confluence of crises attributed to a decline in governance standards. Security challenges, chiefly posed by terrorism, have exacerbated the country’s economic deterioration, which in turn has given rise to energy shortages, rampant unemployment and soaring inflation rates.

The Conversation

US senators introduce bill for restoration of Tunisia’s democracy

The legislation acknowledges that President Kais Saied has taken steps to undermine Tunisia’s democratic institutions.

Al Jazeera

UN steps up criticism of IMF and World Bank, the other pillars of the post-World War II global order

From the ashes of World War II, three institutions were created as linchpins of a new global order

The Independent UK

IMF head welcomes Europe's interest rate hikes in campaign against inflation

The head of the International Monetary Fund has praised the European Central Bank’s decision to raise interest rate for the eighth time in a row

The Independent UK

IMF slams new Pakistan budget proposal, says government failing to implement a more fair tax system

The International Monetary Fund has slammed Pakistan’s government over its proposal for the new annual budget, saying it failed to implement a more fair tax system in the draft

The Independent UK

The west has broken its promises to developing countries – and we’re all paying the price

A summit in Paris this month offers a way to tackle this disastrous failure, but only if western leaders bother to turn up, says the Guardian’s economics editor, Larry Elliott

The Guardian - UK

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Al Jazeera

Pakistan budget ‘missed opportunity’ as IMF bailout cutoff looms

Global lender expresses dissatisfaction with recently presented budget only two weeks before bailout programme expires.

The Guardian - AU

New Zealand falls into recession, as impact of cyclones takes toll

As the economy shrinks by 0.1% in the March quarter, officials say the impacts of cyclones Hale and Gabrielle worsened the economic outlook

The New Daily

Lebanon’s crisis deepens as presidential vote fails

Lebanon has been plunged deeper into crisis after Hezbollah and its allies thwarted a bid to elect a top IMF official as president.

The Independent UK

Lebanese lawmakers fail in yet another attempt to elect president, end power vacuum

Lebanese lawmakers have failed in yet another attempt to elect a president and break a seven-month power vacuum roiling the country

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Manchester Evening News

UK economy returns to growth after Brits spend more in pubs, bars and shops

The UK's GDP was boosted by 0.2 percent in April after a fall in March

Bangkok Post

Time for an Asian Monetary Fund

Although the International Monetary Fund (IMF) has long been the most prominent global institution for promoting financial stability, calls to create regional alternatives are growing louder.

Al Jazeera

Why is the EU offering Tunisia a financial assistance package?

The EU hopes to stem the number of refugees departing for Europe from the country’s coast during an economic crisis.

France 24

UBS completes takeover of Credit Suisse to form Swiss banking behemoth

The merger was finalised just under three months after a rapid agreement brokered by the Swiss government. Meanwhile, European leaders are exerting pressure on Tunisia to accept a $1.9 billion IMF bailout. In other news, financier George Soros is transferring control of his $25 billion empire to his 37-year-old son.

Al Jazeera

EU offers Tunisia aid package, seeks tighter border control

The EU is considering a major financial package for the cash-strapped nation amid a growing refugee and migrant crisis.

The Guardian - UK

EU may give Tunisia more than €1bn in aid to help finances and stem migration

Ursula von der Leyen says €900m will be macrofinancial assistance while €105m will help combat people-smuggling

France 24

European leaders meet in Tunisia for talks on the economy, migration

Tunisia is hosting the leaders of Italy, the Netherlands and the European Union on Sunday for talks aimed at smoothing the way for an international bailout and restoring stability to a country that has become a major source of migration to Europe.

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