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The Latest Breaking News from International Monetary Fund

A world of debt is in need of more flexibility

Recent headlines seem to augur a global debt crisis. The US is teetering on the precipice of a self-inflicted default. Egypt, Ghana, Pakistan, and other countries face grave financial difficulties. And the Chinese are delaying or hampering multilateral efforts to restructure low- and middle-income countries' debt.

Bangkok Post

Pakistan to share budget details with IMF to unlock funds - finance minister

Pakistan's Finance Minister Ishaq Dar said on Sunday the country will share its upcoming budget details with the International Monetary Fund (IMF) in order to unlock stalled funds.

Reuters

Terrible week for Sunak and Hunt puts election victory all but out of reach

Praise from the IMF and optimism on inflation have given way to echoes of last autumn’s turmoil

The Guardian - UK

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Data | Exports and imports shrink across many nations for most items in 2023

India’s exports and imports further weakened in April, 2023, in continuation of the declining trend that has been observed since June, 2022.

The Hindu

Argentina VP says IMF hinders growth in Revolution Day speech

Argentine Vice President Cristina Fernandez de Kirchner slammed the International Monetary Fund (IMF) on Thursday, saying that the program agreed to with the multinational lender is holding back the country's economy.

Reuters

Trying to keep small islands afloat

It is too early to tell whether all the talk about reforming development finance at this year's International Monetary Fund and World Bank Spring Meetings will translate into meaningful policy action for the Global South. But multilateral financial institutions increasingly recognise the need to evolve to remain relevant in light…

Bangkok Post

Improving how the IMF does business could help billions of people worldwide — by giving governments money to spend on public goods and increasing accountability. Podcast

In countries across the Global South, the launch of IMF programs often sparks considerable concern. This is because of the IMF’s reputation: during the 1980s, many nations in Africa, Asia and Latin America turned to the IMF seeking loans to mitigate economic challenges. These loans were accompanied by stringent conditions,…

The Conversation

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Sri Lanka president vows to conclude debt-restructuring talks by Sept or Nov

Debt-laden Sri Lanka should be able to conclude a new round of restructuring talks by September or November at the latest, its president said on Thursday, adding that the negotiations had made "remarkable" progress.

Reuters

Rees-Mogg questions whether Government seeks to remain aligned with EU

He was speaking as MPs debated Lords amendments to the Retained EU Law (Revocation and Reform) Bill.

The Independent UK

UK inflation slides to 13-month low, stays elevated

London (AFP) - Britain's annual inflation rate struck a 13-month low in April, official data showed Wednesday, but remains elevated at 8.7 percent as soaring food prices offset weaker energy costs, prolonging a cost-of-living crisis.

AFP

UK annual inflation slides to 13-month low

London (AFP) - Britain's annual inflation rate fell sharply to a 13-month low of 8.7 percent in April but prices remain elevated as the country faces a cost-of-living crisis, official data showed Wednesday.

AFP

Bangladesh PM says 'very much sure' country able to repay IMF loan

The Prime Minister of Bangladesh Sheikh Hasina said on Wednesday she is confident that the country will be able to meet its commitments to the International Monetary Fund.

Reuters

IMF’s anti-tax cut stance may give Rishi Sunak cover to resist Tory right

UK ministers will use improved forecast to claim plans are working – but IMF also urged more action to protect vulnerable people

The Guardian - UK

IMF forecasts UK economic growth in major U-turn

London (AFP) - The IMF on Tuesday delivered a major U-turn on its forecast for the UK economy, saying it expected growth this year just one month after predicting a contraction.

AFP

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Evening Standard

UK will avoid recession in 2023, says IMF

In April it forecast that UK output was expected to contract by 0.3%.

AFP

IMF says UK economy to grow this year in big U-turn

London (AFP) - The IMF on Tuesday delivered a major U-turn on its forecast for the UK economy, saying it expected growth this year, just one month after predicting a contraction.

The Independent UK

Bank of England admits it made errors in inflation forecasts

The Bank’s top economist Huw Pill acknowledged forecasts for inflation were ‘too low’, leading to mistakes in its decision-making

The Guardian - UK

IMF says UK no longer heading for recession but urges against tax cuts

Jeremy Hunt should squeeze public spending and cut debt, says Washington-based body

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Reuters

IMF mission starts review of Ukraine's new loan program

An International Monetary Fund mission started work on Tuesday on the first review of a $15.6 billion loan program that it approved in March, the Ukrainian finance ministry said.

The Independent UK

UK will avoid recession in 2023 – IMF

In April it forecast that UK output was expected to contract by 0.3%.

France 24

‘Ghana beyond aid’ no longer: West Africa’s former model student forced to turn to IMF

Formerly praised for its stability and good governance, Ghana has been facing a severe economic crisis since the onset of the Covid-19 pandemic and the war in Ukraine. To prevent Accra from defaulting on its debt, the International Monetary Fund (IMF) on Wednesday approved a $3 billion loan in exchange…

AFP

Fake nails, fuel and influencers in Kenyan taxman's sights

Nairobi (AFP) - What do artificial nails, crypto currencies, spaghetti and social media influencers have in common?

Reuters

Argentina president, protesters slam IMF debt, austerity as economy creaks

Argentine President Alberto Fernandez and protesters in Buenos Aires pushed back against the International Monetary Fund (IMF) on Thursday amid heightened tensions with the lender as the country faces nearly 109% inflation and dwindling dollar reserves.

The Independent UK

Top Lebanese official in IMF talks calls for central bank head to resign amid corruption allegations

The Lebanese official heading talks with the International Monetary Fund to bailout Lebanon’s tanking economy has called for the country’s embattled central bank chief to resign

AFP

Crippled economy fuels former Pakistan PM Khan's protests

Lahore (Pakistan) (AFP) - The tumultuous campaign by Imran Khan, Pakistan's most popular politician, to reclaim power has been driven by an economic crisis that ordinary people say has left them unable to feed their families.

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