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The Latest Breaking News from International Monetary Fund

How Sri Lanka spiralled into crisis and what happens next

The island nation is experiencing an unprecedented economic collapse that has pushed the government into a deep crisis.

Al Jazeera

US must assist with climate finance

As US President Joe Biden is due to meet with leaders from Southeast Asian countries this week at the US-Asean Summit in Washington from May 12-13, one issue on which Washington bears an enormous responsibility -- and from which Asean countries suffer enormous consequences -- will be high on the…

Bangkok Post

Explainer-How Sri Lanka spiralled into crisis

Sri Lanka's economic crisis has turned into deadly violence. Eight people died and over 200 were injured on Monday, the country's powerful prime minister quit and his brother, the president, is seeking ways out of the chaos.

Reuters

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Somalia seeks three-month extension of its IMF support programme

Somalia's government has asked the International Monetary Fund (IMF) to extend its financial support by three months to Aug. 17, the head of the IMF's country mission told Reuters.

Reuters

IMF Expresses Concern About Central African Republic's Adoption Of Bitcoin

According to the International Monetary Fund, the Central African Republic’s adoption of Bitcoin as legal tender poses several issues for the country and the region, reported Bloomberg. Related: A Second Country Adopts Bitcoin As Legal Tender The decision to adopt the cryptocurrency drew criticism from opposition parties and was made without consulting the…

Benzinga

Thai interest rate policy needs changing

On March 16, the Federal Open Market Committee (FOMC), the US equivalent of Thailand's Monetary Policy Committee, raised its policy interest rate (Fed Funds Rate) by 25 basis points from 0.00%-0.25% to 0.25%-0.50% to tame rising inflation.

Bangkok Post

China backs Sri Lanka's decision to work with IMF to restructure debt

China supports crisis-hit Sri Lanka's decision to work with the International Monetary Fund (IMF) to restructure its debt, Beijing's ambassador Qi Zhenhong told Sri Lankan Finance Minister Ali Sabry at a meeting on Monday.

Reuters

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The global stagflation shock of 2022: How bad could it get?

The double blow of pandemic and war has caused inflation to surge and growth to slow around the world. But experts do not expect a return to the 1970s

Financial Times

UN chief calls for debt relief, post-COVID investment on W. Africa trip

U.N. Secretary-General Antonio Guterres on Sunday urged debt relief for African countries and more investment to help their economies recover from the COVID-19 pandemic and weather the impacts of the Ukraine war.

Reuters

Crisis-hit Sri Lanka says IMF bailout three months away

Colombo (AFP) - An International Monetary Fund bailout package for crisis-hit Sri Lanka could take up to three months to arrive, the country's central bank chief said on Friday, as anti-government protests over the economic crisis continue to escalate.

AFP

Amazon and Apple post downbeat results as inflation, supply issues bite

Amazon records its first quarterly loss since 2015 as online sales drop, while Apple warns of an $8 billion hit from the war in Ukraine and Covid-19 lockdowns in China. Also, French growth hits zero as consumer spending falls, and the IMF warns of dangers for the economies of sub-Saharan…

France 24

Pakistan has a ‘strategy’ to boost shrinking forex reserves: FM

With barely enough reserves to cover two months of imports, finance minister says it will not be the next Sri Lanka.

Al Jazeera

IMF chief tests positive for Covid-19

Washington (AFP) - IMF Managing Director Kristalina Georgieva has tested positive for Covid-19, a spokesman said Thursday, stressing she had only "mild symptoms."

AFP

IMF's Georgieva tests positive for COVID-19, has mild symptoms

International Monetary Fund Managing Director Kristalina Georgieva has tested positive for COVID-19, the IMF said on Thursday, following marathon meetings last week with global finance leaders in Washington.

Reuters

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The Hindu

Are freebies affecting the economic growth of India?

There are subsidies that are productive and then there are those that are wasteful

AFP

Rising prices stoke risk of unrest in Africa, says IMF

Paris (AFP) - Surging food and energy prices stoked by the war in Ukraine may lead to "social unrest" in Africa, the International Monetary Fund (IMF) warned Thursday.

Asharq Al-Awsat

IMF Asserts Private Sector's Role in Boosting Egypt’s Economy

The International Monetary Fund stressed the role of the private sector in boosting the Egyptian economy, currently facing ongoing challenges and difficulties. IMF Middle East and Central Asia Director Jihad Azour said in a press conference that the role of the private sector in Egypt is essential, and the state…

Asharq Al-Awsat

IMF Projects GCC Growth to Accelerate to 6.4%

The International Monetary Fund (IMF) said the Russian invasion of Ukraine is significantly affecting the growth prospects of the developing economies in the Middle East and North Africa (MENA), while oil-exporting countries benefit from higher crude prices. In its "Regional Economic Outlook: the Middle East and Central Asia," the IMF…

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Bangkok Post

Colombo needs debt mechanism mini-miracle

When the economy is going well, the poor benefit more than others. But when things are going badly, it is the poor who are hurt the most. This is especially true in the case of the Covid-19 pandemic, which has hit poor countries -- and the poorest people within them…

Asharq Al-Awsat

Ukraine War to Curb Central Asian Economy, Oil Cushions Middle East, Says IMF

The war in Ukraine will sharply reduce economic growth in the Central Asian region in 2022, although higher oil prices will lessen the impact for the Middle East and North Africa, the International Monetary Fund said on Wednesday. Both regions will still feel the effect of surging commodity prices, and…

Al Jazeera

Parliament pushes for capital controls law as Lebanese protest

Protesters gather in front of the Lebanese parliament on a weekly basis as it moves to pass a capital controls law.

Daily Record

Boris Johnson branded the 'Comical Ali' of the cost of living crisis

The Prime Minister hit back at accusations that he has ignored the rising costs facing working families ahead of local council elections.

The Independent UK

‘Ostrich’ Boris Johnson has head in sand over cost of living, claims Labour

The Prime Minister repeatedly claimed Labour has ‘no plan’ and defended his Government’s economic record during PMQs.

Daily Mirror

Keir Starmer brands Boris Johnson 'cost of living Comical Ali' in furious PMQs clash

Labour's leader accused the Prime Minister to Iraq's former information minister - made famous in a meme trying to play down the scale of the crisis facing his country

Benzinga

Oil Prices Stable Amid Balancing Act Of Russia Supply Fears and Asian Demand Concerns On COVID-19 Restrictions

On Wednesday, oil was steady after Russia cut gas supplies to Bulgaria and Poland. However, lingering concerns about Asian COVID-19 related lockdowns (especially in China) weigh on economic growth, and oil demand constrains the prices, writes Reuters. Brent crude futures rose $0.26, or 0.30%, to $105.25 a barrel by 0823 GMT. U.S.…

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