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The Latest Breaking News from International Monetary Fund

Editorial: Blaming Biden only goes so far in explaining current global inflation woes

A new International Monetary Fund report suggests that the economic hiccups roiling American politics are actually being felt worldwide and probably have little or nothing to do with President Joe Biden’s leadership. Biden certainly isn’t blameless for at least a portion of the nation’s current inflationary spiral, but the monetary…

St. Louis Post-Dispatch

By what measure is Australia’s economy leading the world? We went searching

The Coalition’s repeated claims that Australia’s economy is one of the world’s strongest can be refuted by simply looking at the numbers.

Crikey

Sri Lanka says World Bank agrees to provide $600M in financial aid

The World Bank has agreed to provide Sri Lanka with $600 million in financial assistance to help meet payment requirements for essential imports, the Sri Lankan president's media division said in a statement on Tuesday.

Reuters

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US hosts weapons summit for Ukraine

Ramstein Air Base (Germany) (AFP) - Top US officials hosted emergency talks with allies in Germany on Tuesday on supplying Kyiv with more weapons to fend off Russia's assault, as the UN's chief headed to Moscow in a bid to avert further escalation of the conflict.

AFP

US hosts weapons summit for Ukraine as Moscow warns of world war

Ramstein Air Base (Germany) (AFP) - Top US officials hosted emergency talks with allies in Germany on Tuesday on supplying Kyiv with more weapons to fend off Russia's assault, as the UN 'schief headed to Moscow in a bid to avert further escalation of the conflict.

AFP

IMF Warns Asia Faces ‘Stagflationary’ Economic Outlook

The Asian region faces a "stagflationary" outlook, a senior International Monetary Fund (IMF) official warned on Tuesday, citing the Ukraine war, spike in commodity costs and a slowdown in China as creating significant uncertainty. While Asia's trade and financial exposures to Russia and Ukraine are limited, the region's economies will…

Asharq Al-Awsat

Russia Warns of WWIII ahead of Western Summit on Arms to Ukraine

Russia has warned of the "real" threat of World War III breaking out, ahead of a Tuesday meeting between the United States and allies over sending further arms to war-torn Ukraine. Moscow's invasion of its neighbor has triggered an outburst of support from Western nations that has seen weapons pour…

Asharq Al-Awsat

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Russia warns of WWIII ahead of Western summit on arms to Ukraine

Kyiv (Ukraine) (AFP) - Russia has warned of the "real" threat of World War III breaking out, ahead of a Tuesday meeting between the United States and allies over sending further arms to war-torn Ukraine.

AFP

IMF urges Sri Lanka to tighten monetary policy, raise tax to address debt woes

Sri Lanka must tighten monetary policy, raise tax and adopt flexible exchange rates to address its debt crisis, a senior International Monetary Fund (IMF) official said on Tuesday.

Reuters

Global growth engines sputtering

The International Monetary Fund's revised World Economic Outlook (WEO) is sobering. It is rare for the organisation to revise down sharply its projections for economic growth just one quarter into the calendar year. Yet in this case, it has done so for 86% of its 190 member countries, resulting in…

Bangkok Post

Egypt Seeks Increasing Private Sector Participation in Economic Activities

Egypt has a new document for the state ownership policy, a national strategy aimed at maximizing the participation of the private sector in economic activity, announced Finance Minister Mohamed Maait. The Minister indicated that this "reassures" local investors, attracts foreign investments, and enhances the confidence of international institutions. Maait met…

Asharq Al-Awsat

Saudi Arabia Expects Stronger Growth in Non-Oil Sector

Saudi Minister of Finance Mohammed al-Jadaan said he is expecting stronger-than-expected growth this year in the non-oil sector underpinned by the structural reforms under Vision 2030. Jadaan asserted that the Kingdom remains committed to prudent policies to maintain monetary and financial stability and preserve a solid fiscal position while accelerating…

Asharq Al-Awsat

World Bank readies Sri Lanka aid package, IMF calls loan talks 'fruitful'

The International Monetary Fund said on Saturday it held "fruitful technical discussions" with Sri Lanka on its loan request, while the World Bank said it was preparing an emergency aid package for the crisis-stricken country.

Reuters

Argentina will not modify $45 billion debt with IMF -finance minister

Argentine economy minister Martin Guzman said late on Friday that a $45 billion debt deal with the International Monetary Fund will not be modified, following a meeting with IMF head Kristalina Georgieva.

Reuters

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The Hindu

India extends additional $500 million credit line to Sri Lanka for purchasing fuel

Sri Lanka needs at least $4 billion to tide over its mounting economic woes.

Asharq Al-Awsat

Lebanon Banking Group Rejects Latest Draft of Financial Recovery Plan

The Association of Banks in Lebanon said on Saturday it "completely rejects” the government’s latest draft of a financial recovery plan meant to pull the country out of an economic meltdown. In a statement shared with Reuters, the ABL called the plan "disastrous” and said it would leave banks and…

AFP

New Pakistan government says willing to curb fuel subsidies

Washington (AFP) - Pakistan's new finance minister on Friday agreed with IMF recommendations to reduce fuel subsidies and end a business tax amnesty scheme, pledging to pursue structural reforms to boost a crisis-wracked economy.

Bangkok Post

Global economy: Back to the Valley of Death

Since the global economic crisis that originated in the United States 14 years ago, the world economy has faced regular bouts of volatility. Massive capital injections helped the US economy recover from the initial shock in 2008, but also pushed other economies with structural problems, including some in Europe, into…

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Reuters

World Bank, IMF, WTO leaders urge quick action on action plan to address food security

The leaders of the International Monetary Fund, World Trade Organization and the World Bank on Friday called for quick work on a new action plan on food security to be prepared by international financial institutions.

ABC News

Ukraine latest: Russia's second phase aims for full control of Ukraine's south and corridor to Moldova, commander says

A deputy commander says Russia plans to take full control of Donbas and southern Ukraine, improving access to Moldova and a pro-Russian breakaway region Kyiv fears could be used to launch fresh attacks.

The Guardian - UK

Russia-Ukraine war latest: UN secretary general set to meet Putin and Zelenskiy – as it happened

Invasion of Ukraine ‘intended only as a beginning’, president says, as Moldova summons Russian ambassador over military commander’s comments on breakaway region

AFP

Ukraine needs $7 bn a month in aid, Zelensky says

Washington (AFP) - Ukraine needs $7 billion in month to keep its economy afloat amid the "economic losses" inflicted by Russia, President Volodymyr Zelensky said Thursday, as the United States announced another infusion of financial aid for the country.

ABC News

China's bid for influence in Asia does not stop with Solomon Islands. This is how Beijing gained a foothold in Sri Lanka

While Australian and US officials express shock and disappointment over Beijing's deal with Solomon Islands, China has been making diplomatic and economic inroads across the region for years.

AFP

No consensus among finance chiefs at IMF talks due to Ukraine war

Washington (AFP) - The International Monetary Fund ended its semi-annual gathering of global finance chiefs without a consensus for the first time in its history on Thursday, a sign of the strains created by Russia's invasion of Ukraine.

Chicago Sun-Times

Biden announces heavy artillery, other weapons for Ukraine

The aid, Biden said, will be sent “directly to the front lines of freedom.”

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