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The Latest Breaking News from Fund

Pakistan reaffirms commitment to IMF programme after meeting

Pakistan reiterated its commitment to completing a programme with the International Monetary Fund in a meeting on the sidelines of a climate conference in Geneva on Monday, the finance ministry said in a statement.

Reuters

Saudi Arabia Announces $1 Bn Plan to Increase Agricultural Production in Greenhouses

Saudi Minister of Environment, Water and Agriculture, Abdulrahman al-Fadhli, approved the expansion plan in the plant resources sector and greenhouses with new investments valued at $1.06 billion until 2025. The plan is done in cooperation with the relevant authorities and private sector companies, which aim to raise production capacity by…

Asharq Al-Awsat

Ukraine's debts: US aims to get IMF to reexamine loan fees

A provision in the recently signed defense spending bill mandates that the United States work to ease Ukraine’s debt burden at the International Monetary Fund

The Independent UK

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IMF, Jordan Reach Agreement on Review of Economic Reform Program

An International Monetary Fund (IMF) mission has reached a staff-level agreement on the fifth review of the Jordanian authorities’ economic reform program supported by the Extended Fund Facility (EFF) arrangement. “Completing this review will bring total IMF disbursements over 2020-24 to around $2 billion.

Asharq Al-Awsat

UK criticised for ‘disastrous decision’ to cut health aid pledge by almost a third

Charities say reduced donations to the Global Fund will lead to the preventable deaths of up to 1.5 million people

The Guardian - UK

IMF agrees $4.5 billion Bangladesh support programme

The International Monetary Fund (IMF) provisionally agreed a $4.5-billion support programme on Wednesday for Bangladesh, with the country's finance minister saying the deal would help prevent economic instability escalating into a crisis.

Reuters

Saudi PIF Considers Bidding for Qatar's Ooredoo Tower Unit

Saudi Arabia's Public Investment Fund (PIF) is considering a final bid for network towers sold by Qatari telecom firm Ooredoo. According Bloomberg, informed sources said the PIF expressed its keenness to be among the suitors for the Qatari telecom and submit offers for the final purchase competing with American Tower…

Asharq Al-Awsat

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Efforts to Reach a Unified Measurement Standard for Financial Inclusion in Arab Countries

Director-General and Chairman of the Board of Directors of the Arab Monetary Fund (AMF) Abdul Rahman Al-Hamidy revealed efforts aimed at reaching a unified standard among Arab countries for measuring financial inclusion. In remarks to Asharq Al-Awsat, Al-Hamidy underlined the importance of financial inclusion, as a key policy objective to…

Asharq Al-Awsat

IMF: Diversified Gulf Economy Improves Financial Balance

Gulf Arab oil exporters are expected, on average, to put away about 33 percent of their oil revenues over 2022-26, which will lead to an overall improvement in the financial balance, according to the International Monetary Fund (IMF). The IMF said in its latest report that higher oil and gas…

Asharq Al-Awsat

Judicial Repression Becomes the Norm in Hong Kong

As of 2022, more than 100 civil society organizations and trade unions have been dissolved or closed in Hong Kong under the threat of the National Security Law.

The News Lens

Saudi PIF Establishes Regional Voluntary Carbon Market Company

The Public Investment Fund (PIF) announced the establishment of the Regional Voluntary Carbon Market Company, where PIF holds an 80% stake and Saudi Tadawul Group Holding Company holds a 20% stake in the company.

Asharq Al-Awsat

IMF, Tunisia Reach Deal on $1.9 Bn Loan

The International Monetary Fund and the Tunisian government have reached a tentative agreement to unblock a $1.9 billion loan as the country faces grave economic and political challenges. Under the four-year accord, the Tunisian government -- hit by growing public protests at home amid shortages of food and fuel --…

Asharq Al-Awsat

IMF Sees Middle East Growth at 5%

The Middle East is projected to grow at five percent this year, up from 4.1 percent in 2021.

Asharq Al-Awsat

War-torn Ukraine needs at least $3 billion a month in 2023, IMF says

Ukraine will need at least $3 billion a month next year to finance its wartime economy, which means allies will have to step up with more support, the head of the International Monetary Fund said.

Tribune News Service

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Asharq Al-Awsat

IMF Confirms Saudi Economy’s Growth Forecast in Coming Years

The International Monetary Fund (IMF) confirmed its economic growth forecast for Saudi Arabia for the current year at 7.6 percent, the exact forecasts for July and April. Earlier, the Fund increased its expectations twice for the Saudi economy in 2022, making the Kingdom the only country among the G20 whose…

Reuters

Brazil's Guedes says IMF overlooked inflation surge, praises Brazil for 'acting early'

Brazilian Economy Minister Paulo Guedes criticized the International Monetary Fund for failing to spot surging inflation, saying it led to "misguided" advice, in contrast to early action in Brazil that he said has put the country ahead of the curve in controlling rising prices.

Asharq Al-Awsat

Saudi Arabia Promotes Investment Environment to Fund Cultural Projects

Saudi Arabia’s Cultural Development Fund launched a partnership with the private sector to bolster the investment environment in the cultural field and provide a crowdfunding opportunity for the first creative projects. The partnership agreement was signed with Beehive company, which provides an inspiring environment for entrepreneurs and artists.

Asharq Al-Awsat

IMF Provides Highest Financing to Arab Countries in Decades

Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF), said that the world was going through a delicate stage due to successive shocks and uncertainty in the global economic system. He underlined the need for international cooperation to face challenges, especially with…

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Asharq Al-Awsat

Saudi Arabia, Qatar Review Strategy for Joint Business Council

Saudi Minister of Investment Khalid al-Falih held talks at the Federation of Saudi Chambers headquarters with the chairman and members of the Saudi-Qatari Business Council. This comes as Saudi Arabia and Qatar are preparing a joint strategy for business in the private sector in the two countries.

The Hindu

Top UN official praises India for “thoughtful leadership and commitment” to advancing high-impact South South cooperation

India’s Permanent Mission to the UN organised a special event on October 7 Friday to mark the fifth anniversary of the $150 million India-UN Development Fund

Asharq Al-Awsat

Yemen: Militias Reopen Iranian Hospital That Was Used as Spy Center

The Iranian-backed Houthi militias reopened an Iranian hospital in Sanaa, 13 years after closing it and using it as a center for spying and promoting extremism. The militias changed the hospital's name and allocated more than 3.5 billion riyals to equip it. The move is considered one of the group's…

Asharq Al-Awsat

IMF Expects Yemen to Achieve 2% Economic Growth

The International Monetary Fund (IMF) mission expected that Yemen would achieve a modest economic growth of about two percent this year and 3.2 percent in 2023. However, the Fund called for more reforms, especially with regard to the customs dollar rate, support for the electricity sector, transparency in financial management,…

Asharq Al-Awsat

PIF's Airline to Launch First Flight in 2024

Saudi Crown Prince Mohammad bin Salman has given orders to exploit global economic opportunities following the COVID-19, Public Investment Fund (PIF) Governor Yasir al-Rumayyan revealed. Rumayyan said PIF made a 40 percent profit of about SAR35 billion from investments during the COVID-19 pandemic. He announced that the new airline that…

Asharq Al-Awsat

Saudi Arabia Signs MoU with IMF to Establish Regional Office in Riyadh

Saudi Arabia concluded a memorandum of understanding with the International Monetary Fund (IMF) to establish a regional office in Riyadh, which would boost its presence in the region and provide its economic recommendations to the countries of the Gulf and the region. Saudi Minister of Finance Mohammed al-Jadaan signed the…

The Hindu

The U.K. is staring into an economic abyss

Britain may well pay the price for Prime Minister Truss’s move to take on the ‘economic orthodoxy’ of the Treasury and economists

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