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The Latest Breaking News from International Monetary Fund

World Bank planning new $170 bn crisis fund: Malpass

Washington (AFP) - The World Bank is seeking to create a $170 billion emergency fund to help the poorest nations being buffeted by multiple crises, the bank's President David Malpass said Monday.

AFP

IMF expects 'significant' pledges for new climate, pandemics trust

The International Monetary Fund expects to members to make "significant" pledges of support for its newly approved Resilience and Sustainability Trust during the IMF-World Bank spring meetings beginning this week, a senior IMF official said.

Reuters

Will Biden ever stand up to the IMF’s abuses of power?

The IMF claims to deliver stability, strength, and solidarity. Its record shows the opposite

The Guardian - US

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Sri Lanka leader trims cabinet of relatives ahead of IMF talks

Colombo (AFP) - Sri Lanka's embattled leader dropped two of his brothers and a nephew from his cabinet Monday, acknowledging public anger over the ruling family's mismanagement of a crippling economic crisis that has prompted calls for his resignation.

AFP

Beating expectations, Chinese economy grows 4.8% in first quarter of 2022

Over the first three months of the year, China's economy expanded at an annual rate of nearly 5 percent when compared to the same stretch last year. But as Covid-19 lockdowns roll on, the country's annual growth target looks hard to reach. Also, talks kick off between Sri Lanka and…

France 24

Sri Lankan president says regrets crisis, expands cabinet ahead of IMF talks

Sri Lanka's embattled president announced 17 new ministerial appointments on Monday, notably leaving out members of his own family, and expressed regret for his government's handling of a devastating economic crisis that has led to widespread protests.

Reuters

Sri Lanka fuel prices up ahead of IMF talks

Colombo (AFP) - A key fuel retailer in Sri Lanka raised prices by up to 35 percent on Monday as the cash-strapped government was set to open crucial bailout talks with the International Monetary Fund.

AFP

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Russia-Ukraine updates: Putin honours troops accused of abuses

Ukraine news from April 18: Putin praises ‘mass heroism’ of brigade accused of carrying out mass killings in Bucha.

Al Jazeera

Lebanon Inches Closer to Abandoning its Banking Secrecy System

Lebanon might soon abandon its “banking secrecy” system, which has been in place for more than six decades. The move comes as part of conforming to the requirements that have been agreed upon by the country's executive and legislative authorities, and in preparation for converting the initial deal with the…

Asharq Al-Awsat

Ukraine's prime minister, finance officials to visit Washington next week

Ukrainian Prime Minister Denys Shmyhal and top Ukrainian finance officials will visit Washington next week during the spring meetings of the International Monetary Fund and World Bank, sources familiar with the plans said on Friday.

Reuters

Sri Lanka stares at bankruptcy or redemption

The IMF agreement and fallout will be the central point of contention between the elite and the working people

The Hindu

Bulgaria's growth prospects dented by war in Ukraine -IMF

The war in Ukraine is likely to hit Bulgaria's economic growth, speed up inflation and could pose credit risks, the International Monetary Fund said on Friday.

Reuters

Russia asks Brazil to help keep sway at IMF, World Bank

Russia has asked Brazil for support in the International Monetary Fund, the World Bank and the G20 group of top economies to help it counter crippling sanctions imposed by the West since it invaded Ukraine, according to a letter seen by Reuters.

Reuters

Crises slowing economic growth worldwide: IMF chief

Washington (AFP) - The war in Ukraine has undercut the global recovery, slowing expected economic growth in most countries in the world, IMF Managing Director Kristalina Georgieva said Thursday.

AFP

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The Independent UK

IMF chief: Ukraine war and inflation threaten global economy

The head of the International Monetary Fund warned that Russia’s war against Ukraine was weakening the economic prospects for most of the world’s countries and called high inflation “a clear and present danger’’ to the global economy

Tribune News Service

Yellen talks tough on China, warning of fallout over Russia ties

WASHINGTON — Treasury Secretary Janet Yellen on Wednesday delivered a pointed warning to China on its alignment with Russia, suggesting potential economic consequences from the international community depending on how it approaches President Vladimir Putin’s invasion of Ukraine.

AFP

International agencies call for urgent aid to address food insecurity

Washington (AFP) - Major international organizations issued an appeal Wednesday for urgent measures to deal with rising food insecurity in poor countries, including financing to support farmers and increase food supplies.

The Guardian - UK

The Guardian view on the cost of living crisis: a global emergency

Editorial: Lashed by Covid and soaring prices for food and fuel, a quarter of a billion people face falling into extreme poverty

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Reuters

IMF, World Bank, WFP and WTO urge coordinated action on food security

The World Bank, International Monetary Fund, UN World Food Program and World Trade Organization on Wednesday called for urgent, coordinated action on food security, and appealed to countries to avoid banning food or fertilizer exports.

AFP

US Treasury Secretary warns China over its stance on Russia

Washington (AFP) - US Treasury Secretary Janet Yellen warned China on Wednesday that its lack of participation in the Western sanctions campaign against Russia could affect countries' willingness to work with Beijing.

Axios

Yellen: Don't help Russia evade sanctions, or else

A speech from the Treasury secretary puts Ukraine war at center of financial diplomacy.

Reuters

Sri Lanka PM offers protesters talks as opposition eyes no-confidence vote

Sri Lanka's prime minister offered talks on Wednesday with protesters calling for the government to step down over its handling of an economic crisis as the opposition threatened to bring a no-confidence motion against it in parliament.

Bangkok Post

Sri Lanka declares default on external debt, first time in history

NEW DELHI: Sri Lanka declared on Tuesday that with critically low foreign exchange reserves, the crisis-hit country will default on its external public debt pending a bailout package from the International Monetary Fund.

The Conversation

What's happening in Sri Lanka and how did the economic crisis start?

The island nation of Sri Lanka is in the midst of one of the worst economic crises it’s ever seen. It has just defaulted on its foreign debts for the first time since its independence, and the country’s 22 million people are facing crippling 12-hour power cuts, and an extreme…

Benzinga

South Asian Country Defaults On $51B External Debt Amid Concerns Of Food, Fuel Shortages

Amid the deepening financial crisis in the country, Sri Lanka defaulted on its $51 billion foreign debt, pending a bailout from the International Monetary Fund, with whom the talks are scheduled for the end of this month.

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