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The Latest Breaking News from International Monetary Fund

Kenya To Reintroduce Controversial Taxes Amid Economic Struggles

Kenya's finance minister plans to reintroduce controversial taxes amid protests over rising living costs and mounting debts.

Top News

Ethiopia’s bold economic reforms target stability and growth, but they come with risks

Ethiopia’s recent macroeconomic reforms, supported by the International Monetary Fund (IMF) and the World Bank, could have profound implications for the country and the region. The key reforms include the use of a floating exchange rate system and of interest rates as a policy tool.

The Conversation

Sudan’s catastrophe: farmers could offer quick post-war recovery, if peace is found

More than a year of conflict between the Sudanese Armed Forces and the Rapid Support Forces has weakened the country’s fragile economy. This is in addition to triggering a humanitarian crisis, loss of lives, property destruction and income disruptions.

The Conversation

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Mi Primer Bitcoin At 3: What The $BTC Education Program Accomplished In El Salvador

The Mi Primer Bitcoin is celebrating three years since launching in El Salvador – the Bitcoin education program has reached thousands of Salvadoran students and continues to expand globally.

International Business Times

Price instability rocks Ethiopia as it reels from foreign exchange rate reforms

The prices on the menu have been erased at a small hotel in a suburb of Ethiopia’s capital

The Independent UK

Egyptian Pound Slides As IMF Loan Conditions Met

Learn about the Egyptian pound's decline, IMF bailout, fuel price hikes, and economic challenges in Egypt.

Top News

Egypt’s currency edges higher against the US dollar after price hikes

Egypt's local currency is sliding against the U.S. dollar after recent increases in fuel prices and subway fares

The Independent UK

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No jobs, no trust: young Africans’ economic struggles fuel protests

Young people have taken to streets in Kenya, Uganda and Nigeria amid cost of living crises and lack of jobs

The Guardian - UK

New blow to Kenya's President Ruto as court annuls 2023 finance bill

Kenya's Court of Appeal has declared the government's 2023 finance bill unconstitutional, inflicting a new blow to the government of President William Ruto who withdrew this year's finance bill after deadly protests.

Radio France Internationale

World Bank Approves $1.5 Billion Ethiopia Rescue Package

The World Bank has approved a $1.5 billion financial package to support cash-strapped Ethiopia's economic reform programme after officials loosened curbs on the local currency.

International Business Times

Ethiopia Currency Slides As Central Bank Eases Forex Curbs

Ethiopia's central bank announced on Monday that it was easing curbs on its foreign exchange regime, a move which saw the value of the local currency slide by about 30 percent.

International Business Times

Sri Lanka presidential election set for September 21 amid ailing economy

President Wickremesinghe is first candidate to register at the Election Commission as he seeks mandate from voters.

Al Jazeera

Sri Lanka To Hold Presidential Election Amid Economic Crisis

Sri Lanka's upcoming presidential election amid economic crisis and debt restructuring efforts.

Top News

Sri Lanka Announces First Presidential Vote Since Unrest

Sri Lanka's first presidential elections since an unprecedented economic crisis spurred widespread unrest will be held in September, the election commission said Friday.

International Business Times

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Al Jazeera

South Africa has a new top diplomat. What does that mean for Palestine?

Foreign minister Ronald Lamola takes over at critical time amid ICJ case against Israel and ongoing regional conflicts.

The Conversation

Steak is off the menu for Argentinians as the country’s austerity policies bite

“Was the steak and wine as good as I’ve heard?” Undeniably the most common question I’m asked when I return from Argentina. And while my answer is – obviously – yes, the question is asked with good reason. The association with beef and steakhouses (parrillas in Spanish) and world-class malbecs…

StockNews.com

3 Mid-Cap Stocks With Strong Upside Potential

With the market hitting near-record highs and some experts warning about potential downturns, now might be the time to consider adding mid-caps to your investment mix. Thus, one could invest in fundamentally sound stocks like Acuity Brands (AYI), PVH Corp. (PVH), and NewMarket Corp. (NEU), which have strong upside potential.…

The Guardian - UK

Thursday briefing: How one controversial bill has Kenya on the brink of disorder

In today’s newsletter: President William Ruto’s unpopular finance bill has sparked a wave of protests – that have been met with brutality and yet more discord in the country

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The Guardian - UK

IMF reform is tricky: the US and China will need to work together

Europe is overrepresented while China is underrepresented, and the US will need to give up its veto

StockNews.com

3 Bank Stocks Benefiting From High Interest Rates

Amid global economic uncertainties, major U.S. banks like JPMorgan (JPM), Wells Fargo & Company (WFC), and PNC Financial Services (PNC) have defied expectations with strong revenue and earnings reports for the second quarter. Considering their robust performance, investing in these stocks could offer stable returns to your portfolio. Read more….

AAP

Signs point to slow start for economy in new year

Australia can expect lacklustre economic growth into early next year, with small businesses particularly vulnerable to sour economic conditions.

The Guardian - UK

World needs economic stability after a tough few years, but if Trump wins we’re unlikely to get it

The attempt on the former president’s life may well result in a new era of trade tariffs, protectionism and a weak dollar

International Business Times

IMF Maintains 2024 Global Growth Forecast, Warns Of Inflation Risk

The IMF held global growth expectations for 2024 steady in a report Tuesday even as it cut forecasts for the United States and Japan, while warning of inflation risks and trade tensions ahead.

Top News

IMF Upgrades China, India, Europe; Lowers US, Japan Expectations

IMF revises global economic projections, highlighting growth in China, India, and Europe, with challenges in the US and Japan. Global inflation expected to...

The Independent UK

New fears Brexit has ‘drained life out of UK economy’ following IMF report

The International Monetary Fund’s July report warns ‘the global economy is in a sticky spot’ with the UK lagging behind most other major economies

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