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The Latest Breaking News from International Monetary Fund

Ghana’s outgoing president Nana Akufo-Addo failed to live up to expectations – a look at his time in office

For the first time in seven years, Nana Addo Dankwa Akufo-Addo will end the year without Ghana’s presidency weighing on his shoulders. Ghana goes to the polls on 7 December. Whatever the outcome, Akufo-Addo has served two terms as president and will be retiring from a long political life.

The Conversation

IMF approves third review of Sri Lanka’s $2.9bn bailout, but warns of risks

Global lender says it will release about $333m to crisis-hit nation as signs of economic recovery emerge.

Al Jazeera

Ghana’s economic diplomacy: how three presidents with different ideologies dealt with the IMF and World Bank

Since independence in 1956, Ghana’s leaders have followed a variety of global ideologies, from centre-right to socialist. But the country has also blended these with local priorities, like anti-colonialism and economic independence, while balancing the pressures from the IMF and World Bank.

The Conversation

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Sri Lanka's President Makes U-turn On IMF Bailout

Sri Lanka's new leader on Thursday backed a controversial IMF bailout, marking a U-turn from his election pledge to renegotiate the deal secured by his predecessor.

International Business Times

Greece faces general strike as workers protest cost of living squeeze

Unions demand ‘dignified wages’ as unequal recovery from debt crisis has left many struggling with higher costs

The Guardian - UK

Sri Lanka leader reappoints Amarasuriya as PM, retains finance and defence

Dissanayake picks a 21-member cabinet as he plans sweeping reforms, including a campaign promise of a new constitution.

Al Jazeera

Egypt's Middle Class Cuts Costs As IMF-backed Reforms Take Hold

Egypt's economy has been in crisis for years, but as the latest round of International Monetary Fund-backed reforms bites, much of the country's middle class has found itself struggling to afford goods once considered basics.

International Business Times

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‘Need a change’: Sri Lanka’s leftist win sparks hopes, bridges old divides

President Dissanayake’s party has won a two-thirds majority in parliament, including among Tamils and Muslims.

Al Jazeera

Here’s what the top business leaders are saying about AI: 'You need to be prepared for anything'

CEOs at Fortune Global Forum unpack how AI will impact the labor market and corporate America.

Fortune

Landslide win for Sri Lanka’s leftist coalition in snap general elections

President Dissanayake now has the mandate he needs to tackle corruption and recover stolen assets after financial crash.

Al Jazeera

Sri Lanka President's Party Headed For Landslide: Early Results

New Sri Lankan President Anura Kumara Dissanayake's party was set for a landslide victory in snap legislative elections, initial results showed Friday.

International Business Times

Sri Lanka parliamentary elections 2024: What’s at stake?

Here is why the upcoming parliamentary election is so significant for newly-elected President Anura Kumara Dissanayake.

Al Jazeera

Sri Lanka President Eyes Parliament Win In Snap Election

Sri Lanka votes Thursday in a second national election in as many months with a deeply divided opposition struggling to recover from a crushing defeat at presidential polls.

International Business Times

IMF's Gita Gopinath U.S. voters' view of inflation

The economy is strong, but voters remember increasing prices.

Fortune

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Fortune

A recession could create an ‘abrupt shift’ in AI adoption: ‘‘That’s when you really see the effects of automation’

During recessions companies lay people off, automate their jobs, and never hire them back.

The Conversation

Countries spend huge sums on fossil fuel subsidies – why they’re so hard to eliminate

Fossil fuels are the leading driver of climate change, yet they are still heavily subsidized by governments around the world.

Latin Times

Nayib Bukele Hails Vindication As Bitcoin Hits New All-Time Highs

Nayib Bukele is just one of the many Bitcoiners who feel vindicated after Bitcoin hit new all-time highs, but the El Salvadoran leader's case is particularly special, as he refused to bend to skeptics who questioned his $BTC strategy.

International Business Times

Nayib Bukele Claims Vindication As Bitcoin Hits New All-Time Highs

The El Salvador leader refused to bend to skeptics who questioned his strategy.

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International Business Times

Sri Lanka's Leftist President Faces First Parliament Test

Sri Lanka's new leftist leader has drawn strong support from an unlikely source as he seeks to expand his three parliamentary seats to a house majority in elections on Thursday.

The Guardian - UK

US cancels $1.1bn of Somalia’s debt in ‘historic’ financial agreement

Commitment by Mogadishu’s largest single lender is latest in series of deals to forgive ‘unsustainable’ $4.5bn debt

Evening Standard

Jittery markets hold their nerve on Budget £32b borrowing as minister reassures: We've all got PTSD from Truss

Chief Secretary to the Treasury Darren said on borrowing the Government does not ‘think that we are pushing it to the limit’

Evening Standard

Chancellor seeks to calm markets amid jitters after Budget borrowing spree

The Budget increased state spending by almost £70 billion per year funded by increased taxes and borrowing.

Evening Standard

Reeves admits NI hike could hit pay rises while markets react to borrowing spree

Chancellor Rachel Reeves insisted she had no alternative but to raise taxes in her first Budget.

Reason

A Week of Failing To Pay With Bitcoin in El Salvador

The country claims to be a leader in crypto transactions. But you can't force people to take a currency they don't want.

The Independent UK

Reeves admits tax hikes will hit working people as IFS accuses chancellor of ‘undermining trust’

Rachel Reeves was forced to accept that her decision to raise employers’ national insurance contributions will lead to workers being paid less, but asked, ‘what alternative was there?’

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