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The Latest Breaking News from International Monetary Fund

Rich nations have promised to pay for the climate crisis – but will they?

For too long pledges have gone unmet, so at Cop28 new solutions need to be explored, says Gordon Brown, WHO ambassador for global health financing

The Guardian - UK

Lebanon’s Central Bank Says Audit of Gold Reserves Completed ‘Successfully’

Lebanon’s Central Bank announced on Friday that the audit of the bank’s gold reserves- coins and ingots- which came at the request of the International Monetary Fund, has been completed “successfully.” The bank said that the amount of gold bullions declared corresponded exactly with the quantity of gold in its…

Asharq Al-Awsat

Is Latin America Stuck?

The region could face a new lost decade.

Foreign Affairs

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Struggling Ghana plans tax rise, debt swap to secure IMF aid

Accra (AFP) - Ghana's finance minister, Kenneth Ofori-Atta, presented the 2023 budget to parliament on Thursday, hiking tax and planning a debt swap as the country's negotiates an International Monetary Fund (IMF) loan.

AFP

‘They teach us’: how whales can help dispel the myth of green capitalism

In her new book, Adrienne Buller argues the desire to eke profit out of climate policy is wilfully naive

The Guardian - UK

IMF, South Sudan in Pact for Emergency Funds of $112.7 Mln

The International Monetary Fund and South Sudan have reached a staff-level agreement for the release of about $112.7 million in emergency financing, the fund said on Tuesday. "This emergency financing under the new Food Shock Window will help South Sudan address food insecurity, support social spending, and boost international reserves,"…

Asharq Al-Awsat

IMF, South Sudan in pact for emergency funds of $112.7 million

The International Monetary Fund and South Sudan have reached a staff-level agreement for the release of about $112.7 million in emergency financing, the fund said on Tuesday.

Reuters

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IMF approves 530-mn-euro loan for North Macedonia

Washington (AFP) - The International Monetary Fund on Monday announced it had approved a deal to give North Macedonia access to 530 million euros to help the country recover from the coronavirus pandemic and knock-on effects from the war in Ukraine.

AFP

Barbados spearheads push on climate disaster financing

As climate-amped disasters ratchet up the suffering, the staid international finace system designed for an earlier age may be on the brink of change, driven by those on the front lines

The Independent UK

What Are Foreign Exchange Reserves? Definition & Importance

What Are Foreign Exchange Reserves?Foreign exchange reserves are a nation’s holdings of other countries’ currencies that can be converted into its own currency through the foreign exchange market, as well as holdings of foreign assets in government securities, such as bonds, and gold, that can be ...

The Street

Tory MP confronted live on air over claim UK is outpacing G7 economies

A CONSERVATIVE MP has been caught out live on air after she claimed the UK economy is doing better than the rest of the G7.

The National (Scotland)

IMF, Jordan Reach Agreement on Review of Economic Reform Program

An International Monetary Fund (IMF) mission has reached a staff-level agreement on the fifth review of the Jordanian authorities’ economic reform program supported by the Extended Fund Facility (EFF) arrangement. “Completing this review will bring total IMF disbursements over 2020-24 to around $2 billion.

Asharq Al-Awsat

FTX Collapse Leads the Way for New Crypto Regulations

Industry leaders should set strong standards, says Binance CEO Zhou, before regulators do it for them.

The Street

China circles El Salvador’s economy as country edges toward crypto plunge

President Nayib Bukele bet on bitcoin and its tumbling value has put the Central American country in a financially precarious spot

The Guardian - US

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The Guardian - UK

Nationalism is the ideology of our age. No wonder the world is in crisis

Rishi Sunak and Joe Biden should be pushing for greater cooperation at the G20, says former UK prime minister Gordon Brown

Reuters

IMF says global economic outlook getting 'gloomier', risks abound

The global economic outlook is even gloomier than projected last month, the International Monetary Fund said on Sunday, citing a steady worsening in purchasing manager surveys in recent months.

Reuters

IMF chief warns on U.S.-China rivalry, calls Trump-era tariffs counterproductive

The head of the International Monetary Fund warned of risks to the global economy from the rivalry between China and the United States, while describing tariffs put on Chinese imports under then-President Donald Trump as counterproductive.

The Guardian - UK

Banks are leaving the Caribbean. It’s unfair and will backfire on the west

Financial ‘de-risking’ is making life difficult in vulnerable regions and will lead to more corruption and tax evasion, says Caribbean analyst Kenneth Mohammed

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Reuters

IMF agrees $4.5 billion Bangladesh support programme

The International Monetary Fund (IMF) provisionally agreed a $4.5-billion support programme on Wednesday for Bangladesh, with the country's finance minister saying the deal would help prevent economic instability escalating into a crisis.

Al Jazeera

IMF, Bangladesh reach preliminary deal for $4.5bn loan

Rising energy and food prices, sparked by the Russia-Ukraine war, and shrinking forex reserves have hit Bangladesh.

The Independent UK

IMF, Bangladesh reach preliminary deal for $4.5B in loans

The International Monetary Fund has reached a preliminary agreement with Bangladesh to provide $4.5 billion to help the country to weather disruptions caused by the war in Ukraine and manage risks from climate change

AFP

IMF agrees $4.5 billion support package for Bangladesh

Dhaka (AFP) - The International Monetary Fund said Wednesday it reached a preliminary agreement to provide Bangladesh with a $4.5 billion support package to help it cope with soaring energy and food prices.

The Guardian - UK

Could Barbados blueprint be a Marshall Plan for the climate crisis?

Mia Mottley, PM of Barbados, who, at Cop27 called again for climate justice, is devising a debt relief and loan blueprint, targeting the IMF

The News Lens

Developing Asia Adapts to the Dollar’s Strength

A strong U.S. dollar will likely continue for the near future. Asian economies need to prepare for a rough 2023.

Reuters

COP27: What are they saying at the climate summit?

World leaders, policymakers and delegates from nearly 200 countries are at the COP27 U.N. climate summit in Egypt, where they hope to keep alive a goal to avert the worst impacts of climate change.

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