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The Latest Breaking News from International Monetary Fund

Slow start on World Bank reform angers climate-hit countries

World Bank meetings in Washington were supposed to be a first step in a new era of affordable loans for developing nations hard hit by climate change

The Independent UK

Stay Away From These 3 Sinking Stocks

Worries about weaker energy demand due to resurfacing threats of recession, spurred by rising interest rates, might jeopardize the energy drilling sector’s growth. Amid this, it could be wise to stay away from sinking stocks such as Valaris (VAL), Transocean (RIG), and Diamond Offshore Drilling (DO). Continue reading….

StockNews.com

Debt dangers in Africa: how defaults hurt people, and why forgiveness isn’t the answer

Public debt repayments in some African countries are at their highest levels since 1998. The Conversation Africa’s founding editor Caroline Southey talks to dean and economics professor Philippe Burger about the danger of debt problems some African countries face.

The Conversation

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Crown Prince Mohammed bin Salman Led ‘Difficult Missions’

In mid-January, the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, said that Saudi Arabia had become a bright spot for the world and regional economies. Speaking at a session at the World Economic Forum (Davos), Georgieva explained that when she visited Saudi Arabia, she was incredibly impressed…

Asharq Al-Awsat

'Fruitful' Discussions Between IMF, Egypt

The International Monetary Fund’s discussions with Egypt will continue virtually towards starting its first review mission, according to an IMF statement. Discussion between the IMF and Egypt were "fruitful" in preparation for the review, the statement said Sunday. The IMF in December approved a $3 billion Extended Fund Facility loan…

Asharq Al-Awsat

Age of globalisation is now the age of instability – and we need a plan

Bridgetown Initiative could be way for rich nations’ development finance words to become action

The Guardian - UK

World Bank: Peace Deal in Yemen Would Push Toward Sustainable Growth

The World Bank has revealed that in case a lasting truce or peace arises, the Yemeni economy could register more sustainable growth within months of the agreement.

Asharq Al-Awsat

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Ukraine's Marchenko says G7 support crucial for 'longer' war with Russia

A new international economic support package of $115 billion gives Ukraine more confidence that it can prevail in battling Russia's invasion, amid growing recognition that the war could continue for longer than expected, Ukrainian Finance Minister Serhiy Marchenko said on Saturday.

Reuters

Africa needs more help with climate change, debt and food crises

Africa is struggling with the triple shock of rising debt burdens, an ongoing food crisis and climate change fallout and needs more help from international institutions and wealthy nations to cope, African finance ministers said on Saturday.

Reuters

‘Britain is back’ after mini-Budget meltdown, says Jeremy Hunt

Although the Chancellor restored some confidence in the economy following the mini-Budget UK GDP is on track to contract by 0.3 per cent across 2023

Evening Standard

PBOC Chief and Fed Chair Hold First In-Person Meeting Since 2019

Central bank Governor Yi Gang also confers in Washington with G-20 officials and Bank of Japan chief amid World Bank and IMF meetings

Caixin Global

Ukraine secures another $5 billion in funding after meetings, prime minister says

Ukraine secured promises of $5 billion in additional funding to support its ongoing fight against Russia amid "fruitful meetings" in Washington this week, Ukrainian Prime Minister Denys Shmyhal told reporters on Friday.

Reuters

Foreign aid stalls as Africa's debt spirals

Paris (AFP) - Africa is battling decades-high levels of debt after the pandemic and Russia's invasion of Ukraine, but the international community is struggling to agree on extending its financial support for the region.

AFP

IMF calls for ‘another Gleneagles moment’ on debt relief and aid

The Guardian - UK

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AFP

UAE and China promise Pakistan $1.3 bln to get IMF deal on track

Karachi (AFP) - Pakistan announced financial support Friday from the United Arab Emirates and China totalling $1.3 billion, giving the ailing economy a shot in the arm as it seeks to meet conditions for the resumption of an International Monetary Fund bailout.

AFP

Xi tells Lula China's development will create opportunities for Brazil

Beijing (AFP) - President Xi Jinping told his Brazilian counterpart Luiz Inacio Lula da Silva on Friday that China's development would create new opportunities for Brazil, as they met in Beijing and affirmed their close economic and diplomatic ties.

Asharq Al-Awsat

Brazil's Lula Criticizes US Dollar and IMF during China Visit

The two countries have recently announced a deal to trade in their own currencies, dropping the dollar as an intermediary.

AFP

Brazil's Lula meets Xi in Beijing after lashing out at US dollar, IMF

Beijing (AFP) - Brazilian leader Luiz Inacio Lula da Silva is set to forge closer ties with Chinese President Xi Jinping during a meeting in Beijing on Friday, a day after he lashed out at the power of the US dollar and the IMF.

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Asharq Al-Awsat

IMF Warns: MENA Region Faces 4 Challenges

Growth of the real GDP in the Middle East and North Africa (MENA) region is projected to slow this year to 3.1 percent from 5.3 percent in the previous year, announced Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF), Jihad Azour. Azour added…

Al Jazeera

UAE tells IMF it will support Pakistan with $1bn, says minister

Ishaq Dar says the UAE has informed the IMF that it will provide $1bn to the crisis-hit South Asian nation.

Dynamite News

Nirmala Sitharaman, World Bank chief discuss empowering women leaders

Union Minister Nirmala Sitharaman on Thursday (local time) participated in a panel discussion on 'Empowering Women as Entrepreneurs and Leaders' in Washington DC. Read further on Dynamite News:

AFP

Brazil's Lula to meet Xi in Beijing after lashing out at US dollar, IMF

Reuters

U.S., UK, EU officials met with financial firms on Russian sanctions evasion

Senior officials from the United States, Europe and Britain met on Thursday with financial institutions to brief them on efforts by Russia to evade Western sanctions imposed over its invasion of Ukraine, a senior U.S. Treasury official told reporters.

Reuters

Pakistan hopes to seal key IMF bailout agreement soon

Pakistan's debt continues to be sustainable, International Monetary Fund (IMF) managing director Kristalina Georgieva said on Thursday, after the government reiterated it had completed all requirements to receive a critical bailout from the IMF.

AFP

Brazil's Lula lashes out at US dollar, IMF in China visit

Shanghai (AFP) - Brazilian President Luiz Inacio Lula da Silva criticised the outsize role of the US dollar in the world economy and lashed out at the IMF on Thursday during an official visit to China.

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