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The Latest Breaking News from the International Monetary Fund

Pakistan finance minister cancels US trip due to political crisis

Pakistan Finance Minister Ishaq Dar on Saturday said he had canceled his trip to Washington for the spring meetings of the International Monetary Fund and World Bank on the orders of the prime minister due to the political situation in the country.

Reuters

IMF Approves Two-Year Flexible Credit Line for Morocco

The Executive Board of the International Monetary Fund (IMF) has approved a two-year arrangement for Morocco under the Flexible Credit Line (FCL).

Asharq Al-Awsat

Russia's war on Ukraine latest: Huge blaze injures 34 in latest wave of Russian strikes

Russia unleashed a fresh volley of missiles on Ukraine overnight, causing huge blazes in an eastern city, damaging dozens of homes and wounding at least 34 people.

Reuters

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IMF approves $15.6 billion Ukraine loan, part of $115 billion in global support

The International Monetary Fund said on Friday its executive board approved a four-year $15.6 billion loan program for Ukraine, part of a global $115 billion package to support the country's economy as it battles Russia's 13-month-old invasion.

Reuters

EU Official Says Major Aid to Lebanon Depends on IMF Deal

A European Union official visiting Lebanon said Friday that the international body will increase its humanitarian assistance to the crisis-struck country, but that more significant long-term aid depends on reforms and a deal with the International Monetary Fund. EU Commissioner for Crisis Management Janez Lenarčič said at a press conference…

Asharq Al-Awsat

EU official says major aid to Lebanon depends on IMF deal

A European Union official visiting Lebanon says the international body will boost its humanitarian assistance to the crisis-stricken country, but that more significant long-term aid depends on reforms and a deal with the International Monetary Fund

The Independent UK

Silicon slump? How worried should we be about another financial crisis?

The collapse of Silicon Valley Bank has raised the spectre of another financial crisis. As the contagion appears to be spreading, Samuel Fishwick investigates how spooked we should be feeling

Evening Standard

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Lebanon has 'no other way out' than IMF deal, U.S. official says

Lebanon has no alternative for economic recovery but to make progress on a deal with the International Monetary Fund, a senior U.S. official said on Thursday.

Reuters

US Official: Lebanon Has 'No Other Way Out' of Crisis than IMF Deal

Lebanon has no alternative for economic recovery but to make progress on a deal with the International Monetary Fund, US Assistant Secretary of State for Near Eastern Affairs Barbara Leaf said in an online briefing on Thursday. Leaf, who visited Lebanon and other countries in the region in recent weeks,…

Asharq Al-Awsat

Fernández, Biden hold talks amid Argentina's economic strain

President Alberto Fernández of Argentina has used a White House meeting to spotlight the economic strain his country faces as he looks for President Joe Biden to back Argentina’s effort to renegotiate with the International Monetary Fund on terms of $44 billion debt

The Independent UK

France, Italy to Support Tunisia Control Irregular Migration

France is ready to help cover Tunisia's remaining financing needs for 2023 and 2024, said France’s ambassador to Tunisia, André Parant, announcing that a package of 250 million euros is currently awaiting disbursement to help the country bridge its budgetary gap. In an interview with the Tunisian news agency, TAP,…

Asharq Al-Awsat

IMF Says Preparing for 1st Review of Egypt Program

Preparations for the first review of Egypt's economic reform program with the International Monetary Fund have begun and dates for the review mission will be announced when agreed with the authorities, an IMF spokesperson said on Thursday. The IMF approved in December a $3 billion Extended Fund Facility loan for…

Asharq Al-Awsat

IMF warns without reforms, Lebanon could see hyperinflation

The International Monetary Fund has given a grim assessment of Lebanon’s prospects for getting out of its deepening financial crisis

The Independent UK

IMF: Lebanon in 'very dangerous situation' with reforms stalled

The International Monetary Fund warned on Thursday that Lebanon was in a very dangerous situation a year after it committed to reforms it has failed to implement and said the government must stop borrowing from the central bank.

Reuters

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France 24

War-torn Ukraine to receive first loan from IMF

The International Monetary Fund (IMF) and Kyiv have reached a staff-level agreement for a $15.6 billion loan which should be finalised in the coming weeks. The Washington-based lender had previously changed its rules in order to allow loans to countries facing "exceptionally high uncertainty", without naming Ukraine specifically. Also in…

Reuters

Sri Lanka says latest bailout funds can be used for fiscal support - Bloomberg News

The International Monetary Fund (IMF) is allowing Sri Lanka to utilise funds from its latest bailout for fiscal support, unlike previous loans that could only be used to ease balance of payments crises, central bank governor Nandalal Weerasinghe said in an interview with Bloomberg.

Reuters

IMF says Argentina to delay payment within rules, remains current

The International Monetary Fund said on Tuesday Argentina informed the IMF it will merge two payments due this week into a single payment of about $2.7 billion on March 31.

The Independent UK

IMF to assess Sri Lankan governance as part of $3B bailout

The International Monetary Fund says it is assessing Sri Lanka's governance in the first case of an Asian country facing scrutiny for corruption as part of a bailout program

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Reuters

Debt-stricken Sri Lanka to get first tranche of IMF bailout funds in two days

Sri Lanka will get the first $330 million tranche of an International Monetary Fund bailout in the next two days, the global lender said on Tuesday, putting the onus on the cash-strapped country to rein in its debt to sustainable levels.

The Independent UK

IMF approves crucial $3B bailout for bankrupt Sri Lanka

The International Monetary Fund says its executive board has approved a nearly $3 billion bailout program for bankrupt Sri Lanka

Asharq Al-Awsat

Lebanese Juggle Dizzying Rates for Devalued Pound

When Caroline Sadaka buys groceries in the Lebanese capital Beirut, she keeps her phone in hand – not to check her shopping list but to calculate the spiraling costs of goods now priced at volatile exchange rates that vary by store and sector. As Lebanon's economy continues to collapse, an…

Reuters

IMF approves rule change that would allow new Ukraine loan program

The International Monetary Fund said its executive board on Friday approved rule changes that would allow the IMF to approve new loan programs for countries facing "exceptionally high uncertainty" - a move expected to pave the way for a new Ukraine loan program.

Asharq Al-Awsat

Lebanon: Mikati Says Parties Rejecting Cabinet Meetings Better Elect a President

Lebanon’s caretaker Prime Minister Najib Mikati hailed the latest development in the Saudi-Iranian relations, stressing that Lebanon supports any "consensual" course in the region mainly that Saudi Arabia is a party to it.

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