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The Latest Breaking News from International Monetary Fund

IMF: More Work Needed for Lebanon Aid Deal

After two weeks of talks, the IMF said Friday it has advanced efforts to secure an aid program to help Lebanon overcome its "unprecedented and complex" economic crisis, but more work is needed. The country will need fiscal reforms that ensure it can manage its debt load as well as…

Asharq Al-Awsat

Lebanon PM Signals Difficulty in Agreeing Financial Recovery Plan

Prime Minister Najib Mikati indicated on Thursday difficulties in agreeing a financial recovery plan critical to steering Lebanon out of its devastating economic collapse, calling it a "Kamikaze operation". A plan for addressing a $70 billion hole in the financial system is seen as the starting point for talks with…

Asharq Al-Awsat

Lebanese PM signals difficulty in agreeing financial recovery plan

Reuters

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IMF to Visit Tunisia over Economic Reforms, Central Bank Official Says

The International Monetary Fund will hold a virtual visit with Tunisian officials on Feb. 14 to discuss the government's economic reform program, a central bank official told Reuters on Wednesday. The North African country, which is suffering from a financial crisis, is seeking to obtain a rescue package from the…

Asharq Al-Awsat

Lebanese Maronite Patriarch Urges IMF Deal, Elections on Time

Lebanon’s senior Christian cleric called on Wednesday for the government to agree a plan with the International Monetary Fund to save the country from financial collapse and said elections should be held on time later this year. The Lebanese government began a new round of talks with the IMF last…

Asharq Al-Awsat

Lebanese Maronite Patriarch urges IMF deal, elections on time

Lebanon's senior Christian cleric called on Wednesday for the government to agree a plan with the International Monetary Fund to save the country from financial collapse and said elections should be held on time later this year.

Reuters

Bitcoin dips after US officials seize $3.6 billion of stolen cryptocurrency

The price of Bitcoin dipped in early trading on Wednesday, after the US Justice Department announced it had arrested two people and seized Bitcoin worth $3.6 billion that was stolen from the exchange Bitfinex in 2016. The investigation is being closely watched by players in the cryptocurrency sector as to…

France 24

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'No to the IMF': thousands protest in Argentina against debt deal

Thousands of Argentines marched through the streets of Buenos Aires on Tuesday to protest against a likely deal with the International Monetary Fund (IMF) to revamp more than $40 billion of debt the country cannot pay back.

Reuters

Lebanon Banks Association Rejects Draft Govt Financial Plan

Lebanon's banking association on Monday rejected a draft government plan for tackling the country's financial crisis that proposes a haircut and partial bank bail-in on savers, saying it would cause a long loss of confidence in the financial sector. A draft of the plan to plug a huge hole in…

Asharq Al-Awsat

Costa Rica voters set to punish rulers over IMF-backed austerity

Voters in Costa Rica look set to punish the ruling party in Sunday’s presidential election over austerity and new taxes imposed under an International Monetary Fund deal, fatigue with COVID-19 restrictions and a weak economy.

Tribune News Service

Sri Lanka calls for diaspora investment on independence day

Colombo (AFP) - Sri Lanka marked its independence day on Friday with an appeal to its diaspora to send money home to overcome the island's worsening economic crisis and a pledge to protect foreign investments.

AFP

Lebanon Cen Bank Governor to Asharq Al-Awsat: My Conscience Is Clear, Campaign Against Me Is Political

The daily protests that surround Lebanon's Central Bank in the heart of the capital Beirut have not impacted the operations at the building.

Asharq Al-Awsat

IMF Will Only Support a 'Comprehensive Program' for Lebanon, Says Georgieva

IMF Managing Director Kristalina Georgieva said on Thursday the fund would only support a "comprehensive program" for Lebanon that would tackle all the country's ills, including corruption. "Our team is working very closely with their Lebanese counterparts," Georgieva told reporters.

Asharq Al-Awsat

Sri Lanka seeks IMF advice amid worsening crisis

Colombo (AFP) - Sri Lanka has asked for "advice" from the International Monetary Fund amid a worsening economic crisis, the finance minister said Wednesday, signalling Colombo could seek an international bailout.

AFP

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Asharq Al-Awsat

Lebanon’s Savers to Bear Burden under New Rescue Plan

Two years into an economic meltdown the World Bank says is one of the worst recorded, Lebanon's rulers have proposed a way to plug a huge hole in the financial system they were blamed for making: savers will foot most of the bill, not banks or the state. The plan,…

Reuters

Economic pain threatens social and political chaos in Tunisia

President Kais Saied says he will remake Tunisian politics in 2022 with a new constitution and parliament after seizing executive power last year in a move his foes call a coup - but the threat of national bankruptcy may upend his plans.

Reuters

Georgieva says IMF ready to aid countries hit by Russia-Ukraine spillovers

The International Monetary Fund stands ready to help countries that may be affected by any spillover effects from a Russia-Ukraine conflict and sanctions imposed by Western governments, International Monetary Fund Managing Director Kristalina Georgieva said on Wednesday.

Asharq Al-Awsat

Tunisia Targets IMF Deal in April, Says State Salaries Secure

Tunisia hopes to seal a funding agreement with the IMF in April, its finance minister said on Wednesday, adding that public sector salaries were not at risk after delays in paying workers raised fears about state finances. Talks between the International Monetary Fund and Tunisia over a rescue package predicated…

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Reuters

Zambia aims for IMF debt deal in May - Finance Minister

Zambia expects an International Monetary Fund (IMF) debt health check to be finalised this month, to strike a restructuring deal with creditors by April and get a formal agreement with the fund signed off in May, its finance minister said.

Reuters

Argentina's Fernandez set for China, Russia tour after IMF accord

Argentina's President Alberto Fernandez will begin an overseas tour on Tuesday including visits to Russia and China, a trip that comes amid tensions over a possible conflict in Ukraine and in the wake of a breakthrough in debt talks with the International Monetary Fund.

Benzinga

El Salvador Won't Bow To IMF Pressure To Drop Bitcoin Legal Tender: Treasury Minister

El Salvador's treasury minister Alejandro Zelaya recently expressed his anger over the International Monetary Fund's (IMF) sustained pressure to drop Bitcoin (CRYPTO: BTC) as legal tender in his country, and said that it will have no result.

The Independent UK

Bitcoin price surges as El Salvador rejects IMF call to ditch BTC as currency

‘Countries are sovereign nations and they take sovereign decisions about public policy,’ says Salvadoran Treasury Minister

Asharq Al-Awsat

Lebanon Plan Sees 93% Currency Slide, Turns Bulk of FX Deposits to Pounds

A government plan for tackling Lebanon's financial crisis projects a 93% devaluation of the Lebanese pound and converts the bulk of hard currency deposits in the banking system to local currency, according to a blueprint seen by Reuters. Of $104 billion of hard currency deposits, the plan foresees returning just…

Reuters

Argentina's Peronists split over IMF deal as top lawmaker rebels

A prominent Argentine lawmaker on Monday broke ranks with the country's ruling party on Monday, rejecting a $44.5 billion agreement struck in principle with the International Monetary Fund late last week, a sign of cracks in the ruling coalition.

The Independent UK

El Salvador angrily rejects IMF call to drop Bitcoin use

The government of El Salvador has rejected a recommendation by the International Monetary Fund to drop Bitcoin as legal tender

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