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The Latest Breaking News from Fund

Fight against AIDS, TB and malaria bounced back post-COVID - but not enough

(Corrects to clarify data is from 2022 report, covering 2021 data)

Reuters

Exclusive-IMF eyes expanded access to emergency aid for food shocks - sources

The International Monetary Fund's executive board, under pressure to provide emergency funding to countries facing war-induced food price shocks, reviewed a plan on Monday that would help Ukraine and other countries hit hard by Russia's war, sources familiar with the matter told Reuters.

Reuters

Saudi Arabia Seeks Promising Local Content Opportunities

Saudi Arabia is pushing towards activating local content in the national industry, specifically in promising sectors. The Minister of Industry and Mineral Resources, Bandar Ibrahim AlKhorayef, met Tuesday with 20 prominent local and international companies to discuss promising local content opportunities and cooperation between the firms and Government Procurement Authority.…

Asharq Al-Awsat

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Sri Lanka has an IMF deal, now it courts China and India

(Corrects paragraph 30 to show Center for Financial Stability is based in New York, not London)

Reuters

IMF agrees to provide crisis-hit Sri Lanka $2.9 billion

The International Monetary Fund says it has reached a preliminary agreement to provide $2.9 billion over four years to help crisis-hit Sri Lanka

The Independent UK

Sri Lanka gains IMF's provisional agreement for $2.9 billion loan

Sri Lanka has reached a preliminary agreement with the International Monetary Fund (IMF) for a loan of about $2.9 billion, the global lender said on Thursday, as the country seeks a way out its worst economic crisis in decades.

Reuters

Zambia wins IMF board approval for $1.3 billion loan program

Zambia won International Monetary Fund approval for a $1.3 billion, 38-month loan program on Wednesday, a crucial step in the southern African country's quest to restructure its debts and rebuild an economy ravaged by mismanagement and COVID-19.

Reuters

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Japan Says Financial Aid for Tunisia Hinges on IMF Deal

Japan will consider financial assistance to Tunisia once a deal with the International Monetary Fund (IMF) is reached, head of the Japan International Cooperation Agency (JICA) Tanaka Akihiko has announced. Tunisian Minister of Economy and Planning Samir Saied signed last week a memorandum of understanding (MoU) for several projects in…

Asharq Al-Awsat

Arab Banking Sector Overcomes COVID-19 Adverse Effects

The Arab Monetary Fund revealed that the banking sector in Arab countries has succeeded in overcoming the repercussions of the coronavirus pandemic without significantly impacting its financial institutions. The sector continued to attract liquidity and investments, which boosted Arab economic growth. The Fund added, in its Financial Stability Report in…

Asharq Al-Awsat

IMF fees on war-torn countries closer to elimination

The International Monetary Fund is facing pressure to eliminate, or at least, reevaluate how it imposes fees on loans it disperses to needy countries like war-torn Ukraine — which is one of the fund’s biggest borrowers

The Independent UK

PIF Launches Saudi Egyptian Investment Company

The Saudi Public Investment Fund (PIF) launched on Friday the Saudi Egyptian Investment Company (SEIC) to invest in promising sectors throughout Egypt, one of the world’s emerging markets. SEIC will invest in priority sectors including but not limited to, infrastructure, real estate development, health care, financial services, food and agriculture,…

Asharq Al-Awsat

IMF says it is working with Bangladesh on RST loan with 'safeguards'

The International Monetary Fund said it would work with Bangladesh to design a loan program request in coming months that meets the country's economic and social dynamics and has "safeguards" in the event of a further deterioration in economic conditions.

Reuters

Lynch: The marriage of LIV Golf and Donald Trump is the stuff schemes are made of

Not for the first time, true character was revealed courtesy of an embrace by the baby-carrot fingers of Donald J. Trump.

USA Today Sports Media Group

Sustainability-themed projects invited to apply for airport flightpath funds

Local groups, charities, and clubs are being invited to submit applications for the financial support.

Daily Record

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Reuters

IMF says not holding active discussions on potential new SDR issue

A new issue of International Monetary Fund Special Drawing Rights reserves is among options that could be considered to aid countries struggling with spillovers from the Ukraine war but there are no active discussions on the matter, IMF officials said on Tuesday.

Asharq Al-Awsat

IMF Cuts Global Growth Outlook, Warns High Inflation Threatens Recession

The International Monetary Fund cut global growth forecasts again on Tuesday, warning that downside risks from high inflation and the Ukraine war were materializing and could push the world economy to the brink of recession if left unchecked. Global real GDP growth will slow to 3.2% in 2022 from a…

Texas Observer

Injured, Sick, Widowed, and Sued

Cities are filing lawsuits to claw back first responders’ hard-won workers’ compensation.

Reuters

IMF says it expects Ukraine to keep paying debt despite default speculation

The International Monetary Fund expects Ukraine to continue to service its foreign debt, an IMF spokesman said on Thursday as speculation grows that Kyiv could default on its debt as its battle against Russia's invasion rages on.

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Reuters

IMF calls for quick creditor agreements on Chad, Ethiopia, Zambia debts

The International Monetary Fund on Thursday called on creditor committees for Chad, Ethiopia and Zambia to quickly reach agreements with authorities to restructure the countries' debts, saying this could unlock IMF financing programs and disbursements for them.

The Conversation

A dystopian or utopian future? Claire G. Coleman's new novel Enclave imagines both

I was reading Noongar author Claire G. Coleman’s third novel, Enclave, a few days after the US Supreme Court overturned the Roe v Wade judgement, a political victory for a conservative project many years in the making.

Reuters

Why Ghana has returned to the IMF

Hundreds took to the streets of Ghana's capital Accra last week to protest over its deteriorating economy. Days later, the government of one of West Africa's most prosperous nations announced it would begin formal talks with the International Monetary Fund (IMF) for support.

Daily Mirror

Get ready to pay more tax for NHS as we live longer, warns ex-Health Secretary

Commons Health and Social Care Select Committee chairman Jeremy Hunt believed extra funds will be needed for the health service

Asharq Al-Awsat

20 Projects to Boost Saudi Arabia’s Cultural Creative Scene

Saudi Arabia’s cultural and creative scene is bracing for 20 new projects and initiatives widening its horizons.

Reuters

Some IMF staff work 'unduly influenced' despite strong safeguards - report

Nearly 20% of International Monetary Fund staff say their work has been "unduly influenced" by supervisors, according to an internal survey released on Thursday as part of a review of data integrity standards that generally found "robust mechanisms" for institutional governance.

Asharq Al-Awsat

IMF: Overall Saudi GDP Projected to Grow 7.6%

The International Monetary Fund (IMF) has highlighted solid indicators for the Saudi economy, expecting a 7.6 percent overall GDP growth in 2022. Non-oil growth will increase to 4.2 percent in 2022, with the current account surplus will increase to 17.4 percent of GDP in 2022, said the Fund experts. An…

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