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The Latest Breaking News from International Monetary Fund

Cash-strapped Pakistan's rupee plunges amid talks with IMF

Cash-strapped Pakistan’s currency has plunged against the dollar after the government indicated it was ready to comply with tough conditions set by the International Monetary Fund

The Independent UK

Pakistan seeks U.S. help in unlocking $1.1 billion IMF loan - Dawn

Pakistan has sought support from Washington to unlock a stalled International Monetary Fund programme that would release $1.1 billion to its strained economy as the country rebuilds after last year's devastating floods, Dawn newspaper said on Thursday.

Reuters

Egypt Economic Growth Seen Quicker than Government Forecast

Egypt's economy will grow 4.8 percent in the current fiscal year, faster than predicted by the government, but will not meet government targets over the medium term, a Reuters poll showed on Wednesday. The predictions follow the approval last month of a $3 billion financial rescue package from the International…

Asharq Al-Awsat

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IMF approves $86.9 million extended fund facility for Mauritania

The International Monetary Fund (IMF) has approved a $86.9 million extended fund facility for Mauritania, it said in a statement on Wednesday.

Reuters

Sri Lanka says debt-restructuring talks making progress

Debt-stricken Sri Lanka’s Central Bank chief says the country is making good progress in talks with its creditors to obtain financial assurances for debt restructuring, an important step toward finalizing an International Monetary Fund rescue plan

The Independent UK

IMF Selects a Saudi as Chairman for Ad Hoc Audit Selection Committee

The members of the Executive Board of the International Monetary Fund (IMF) have unanimously selected the Executive Director of Saudi Arabia at the IMF, Abdullah bin Zarah, as chairman of the Ad Hoc Audit Selection Committee (ASC) and as a member of the Evaluation Committee (EVC) of the Executive Board…

Asharq Al-Awsat

China and the sovereign-debt time bomb

International capital flows have long been a major source of economic growth. Savings in higher-income countries have financed high-yielding investments in low-income countries, generating benefits for all. After World War II, capital flows under the Marshall Plan drove the rapid reconstruction of Europe, and after those countries recovered, they extended…

Bangkok Post

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$The world's carbon price is a fraction of what we need – because only a fifth of global emissions are priced$

The world's carbon price is a fraction of what we need – because only a fifth of global emissions are priced

At the end of last year, the world’s average price to emit one tonne of greenhouse gases was around US$5.29 (AU$7.77). For pricing to work as we want – to wean us off fossil fuels – it needs to be around $75 by the end of the decade, according to…

The Conversation

The U.S. might skate past a recession, but the rest of the world may not be as lucky

A debt crisis is combining with other factors to threaten a prolonged economic decline in the developing world.

Fortune

Sri Lanka seen holding rates as inflation fight continues; IMF deal key

The Central Bank of Sri Lanka (CBSL) is widely expected to hold interest rates steady this week, having raised them last year to their highest in more than two decades in order to fight runaway inflation while seeking an International Monetary Fund bailout.

Reuters

China’s future to AI and jobs: five big questions from Davos

From the threat of AI weaponising spam to a trade war sparked by green subsidies, the taxing topics at this year’s World Economic Forum

The Guardian - UK

IMF chief says global economic outlook ‘less bad’ than feared

Kristalina Georgieva hints growth forecast could be upgraded thanks to retreating inflation, but warns against overoptimism

The Guardian - UK

India backs Sri Lanka to secure IMF bailout plan amid crisis

India’s foreign minister says his country has given financial assurances to the International Monetary Fund to facilitate a bailout plan to help neighboring Sri Lanka emerge from its worst economic crisis, in a first formal announcement from one of the island nation’s creditors

The Independent UK

Sri Lanka expects financing assurances from China for IMF deal within days

Sri Lanka expects to get China's backing for its debt restructuring plan within days to help unlock a $2.9 billion loan from the International Monetary Fund, a government official said on Friday, as India pledged further support to its crisis-stricken southern neighbour.

Reuters

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Reuters

India foreign minister visits Sri Lanka with stronger ties, China in focus

India's foreign minister arrives in Colombo on Thursday following his country's backing of Sri Lanka for a $2.9 billion International Monetary Fund (IMF) loan, leaving China as the island's last remaining major creditor which has yet to agree to the debt restructuring plan.

Asharq Al-Awsat

Egypt Sees High Demand from Investors after Currency Drop

Egypt is seeing good investor appetite for stakes in its state-owned enterprises, the country's planning minister said on Wednesday, as the government pursues partial privatizations to drum up funds after a sharp fall in the value of its currency. Egypt, faced with a currency crunch exacerbated by the war in…

Reuters

India 'strongly supports' Sri Lanka debt restructuring plan, it tells IMF

India has told the International Monetary Fund that it strongly supports Sri Lanka's debt restructuring plan as the island nation seeks a $2.9 billion loan from the global lender, according to a letter seen by Reuters.

Asharq Al-Awsat

IMF: Saudi Arabia Playing Important Role in Energy, Food Security

International Monetary Fund (IMF) Managing Director Kristalina Georgieva underscored on Wednesday the important role Saudi Arabia is playing in energy and food security. “Saudi Arabia takes its good fortunes to heart to play an important role in energy and food security,” she said at the World Economic Forum in Davos.…

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Reuters

IMF executive board approves $240 million disbursement to Uganda

The International Monetary Fund (IMF) said on Tuesday its executive board approved two reviews of a financing agreement with Uganda that allow for the immediate release of about $240 million to the East African country.

Reuters

Davos 2023: Global growth to bottom out this year - IMF's Georgieva

International Monetary Fund Managing Director Kristalina Georgieva said on Tuesday global economic growth was expected bottom out in 2023 despite the continued Ukraine war and rising interest rates.

Reuters

IMF chief to visit Rwanda during visit to Africa -sources

International Monetary Fund chief Kristalina Georgieva will visit Rwanda later this month after traveling to Zambia, three sources familiar with the plans said on Friday.

Al Jazeera

Tunisia increasingly isolated under Saied as US loses interest

The president has tried to look abroad to get the country out of its economic crisis, without much success.

Asharq Al-Awsat

IMF: Full Brunt of Financial Tightening Yet to Materialize

Countries have yet to see the full impact of tightening financial conditions, IMF chief Kristalina Georgieva said Thursday, warning that central banks have some way to go in their inflation battle. Global growth is expected to slow further this year, as central banks including the US Federal Reserve have raised…

Asharq Al-Awsat

Egypt's Pound Weakens to New Low of 30/USD

Egypt's pound weakened on Wednesday to a new low of 30 against the US dollar after fluctuating in morning trading, Refinitiv data showed. Egypt committed to a flexible currency, a greater role for the private sector and a range of monetary and fiscal reforms when it agreed to a $3…

Reuters

IMF says corruption has inflated costs of high-profile projects in Zambia

The International Monetary Fund said on Tuesday that corruption had inflated the cost of numerous high-profile tenders and construction projects in Zambia.

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