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The Latest Breaking News from International Monetary Fund

Ghana to default on most international debt

Ghana has suspended payments on most of its foreign debts, effectively defaulting as the country starts restructuring, as part of a bailout deal with the International Monetary Fund.

Radio France Internationale

IMF approves Ukraine monitoring program to help spur donor financing

The International Monetary Fund has approved a four-month program for Ukraine aimed at maintaining economic stability following Russia's invasion of the country, and helping promote donor financing.

Reuters

Cabinet: Egypt's New IMF Agreement Aims to Reduce Government Debt

The new International Monetary Fund (IMF) $3 billion financial support package for Egypt aims to reduce government debt to less than 80% of gross domestic product (GDP) in the medium term, a cabinet report released on Saturday said. The fund did not require the Egyptian government to cut spending on…

Asharq Al-Awsat

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France probes former IMF chief Dominique Strauss-Kahn over alleged tax fraud

French authorities have opened a preliminary investigation into the consulting activities of former International Monetary Fund chief Dominique Strauss-Kahn to look into alleged tax fraud revealed in the so-called "Pandora Papers".

Radio France Internationale

Morocco defeated by France in World Cup semi-final clash

It's the end of the road for Morocco's World Cup campaign, after France beat them 2-0 in their semi-final showdown. The Atlas Lions have still made it further than any African team in the history of the tournament. Also, as the US-Africa Summit continues in Washington, $55 billion have been…

France 24

IMF not expected to discuss Sri Lanka before year-end -sources

The executive board of the International Monetary Fund is not expected to formally approve Sri Lanka's $2.9 billion bailout before year-end, a key step required for the embattled country to receive funding, two sources familiar with the matter said.

Reuters

IMF shareholders deeply divided on whether to suspend surcharges on some loans

The International Monetary Fund's executive board on Monday discussed the surcharges it collects from mostly middle- and lower-income countries on larger loans that are not repaid quickly, but failed to agree to launch a formal review.

Reuters

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IMF chief Georgieva cites 'fruitful exchange' with China on debt issues

International Monetary Fund chief Kristlina Georgieva said she had a "fruitful exchange" with her Chinese counterparts this week on her repeated calls for accelerating debt treatments for countries like Zambia and Sri Lanka.

Reuters

Explainer: Why Can’t Lebanon Elect a President?

Lebanon has been without a president for over a month, its legislators unable to agree on a new head of state. The impasse is holding up a range of initiatives, from putting into place structural reforms for an International Monetary Fund program to allowing the country’s state-owned television channel to…

Asharq Al-Awsat

Call for peace to avert food, fuel & fertiliser crisis

UDAIPUR: There was strong convergence at the G20 meet here on Monday, among most member countries on the need for peace and harmony and an end to the war in Ukraine to ease the food, fuel and fertiliser crisis that is severely hurting the world economy.

The Times of India

The IMF Now Has A Championship Dedicated For Female Riders

The IMF has launched a new racing series that is exclusive to women called the Campionato Italiano Velocità Femminile, or Italian Women’s Speed Championship.

RideApart

EXPLAINER: Can Ukraine pay for war without wrecking economy?

Ukraine has won victories on the battlefield against Russia but faces a looming challenge on the economic front

The Independent UK

Jordan’s Draft 2023 Budget Forecasts Lower Deficit, Steady Economic Growth

Finance Minister Mohamad Al Ississ said on Wednesday that Jordan's draft 2023 budget forecasts 11.4 billion dinars ($16 billion) in state expenditure as the economy's recovery gathers pace. Al Ississ said in a statement the budget deficit was expected to fall to 2.9% of GDP next year from 3.4% this…

Asharq Al-Awsat

China should end its anti-COVID lockdowns, the head of the IMF says

The change could calm widespread protests, and would ease the impact to a world economy already struggling with high inflation, an energy crisis and disrupted food supply.

WEKU

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Asharq Al-Awsat

Saudi Arabia Extends Terms of $5 Billion in Aid to Egypt

Saudi Arabia agreed Tuesday to extend the terms of a $5 billion aid package to Egypt in March, Saudi state media said, in a move aimed at bolstering the North African country’s recent deal with the International Monetary Fund. The extension reflects the generous directives of Custodian of the Two…

The Independent UK

AP Interview: IMF chief urges targeted COVID policy in China

The head of the International Monetary Fund says it’s time for China to move away from mass lockdowns under its “zero-COVID” approach

The Guardian - UK

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

Asharq Al-Awsat

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…

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Foreign Affairs

Is Latin America Stuck?

The region could face a new lost decade.

The Guardian - UK

‘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

Asharq Al-Awsat

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,"…

Reuters

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.

The Independent UK

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 National (Scotland)

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.

Asharq Al-Awsat

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.

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