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The Latest Breaking News from International Monetary Fund

Kenya's Ruto says finance bill to be withdrawn after anti-tax protest deaths

Kenyan President William Ruto on Wednesday said he would withdraw planned tax rises, bowing to pressure after deadly demonstations saw protesters storming parliament and threatening more action this week.

France 24

Sri Lanka Seals Partial Debt Deal After Financial Crash

Cash-strapped Sri Lanka said Wednesday it had clinched a restructuring deal with a majority of bilateral lenders covering up to $5.8 billion in debt, a key step towards recovery after a 2022 financial crash.

International Business Times

Cash-strapped Sri Lanka Set To Sign Key Debt Deals With Lenders

A treasury delegation is on its way to France to sign agreements with creditors on Wednesday, government spokesman Bandula Gunawardana said.

International Business Times

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IMF suggests taxing CO2 emissions caused by AI

Noting its potentially negative impacts on the labor force, the IMF is prepared to explore restrictions on AI, including taxation.

TechRadar

Balance effects of AI with profits tax and green levy, says IMF

Governments should use fiscal policies to atone for technology-related carbon emissions, urges report

The Guardian - UK

U.S. debt could threaten the economic growth that's needed to keep the burden sustainable, former IMF official says

"Even absent this dire scenario, meeting additional interest obligations as the debt ratio rises could require the federal government to cut discretionary spending, with negative implications for economic growth."

Fortune

IMF Board Approves Argentina Payout Of Almost $800 Mn

The IMF executive board voted Thursday to approve a payout of almost $800 million for Argentina as it continues a program of drastic economic reforms under its libertarian president, Javier Milei.

International Business Times

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Pakistan’s new government presents its first budget as it seeks a new long-term IMF bailout

Pakistan’s new coalition government presented its first budget in parliament

The Independent UK

Is Pakistan’s crisis-ridden economy finally recovering?

Inflation is down, forex reserves are up. But analysts warn it’s early days, and everyday people are yet to benefit.

Al Jazeera

Russia test: Will Pakistan attend the Ukraine peace summit?

Pakistan insists it has stayed neutral on Russia’s war on Ukraine. But it now faces a difficult choice.

Al Jazeera

IMF officialdelivers stark warning on AI's potential to turn an ordinary downturn into a severe economic crisis

"I believe there is a real need to have parallel effort to make sure that we're also AI-proofing the global economy."

Fortune

Renault links up with Chinese partner to build $22,000 EV after VW broadside

Renault CEO Luca de Meo was critical of Volkswagen after talks over a joint affordable EV imploded.

Fortune

IMF Upgrades China's Economic Forecast, Calls For Consumer-Friendly Reforms

IMF upgrades China's growth forecast to 5%, emphasizing consumer-friendly reforms for sustained high-quality growth. Risks ahead include declining growth r...

Top News

IMF: Lebanon's Reforms Insufficient For Economic Recovery

IMF evaluates Lebanon's reform measures as insufficient for economic recovery, urges comprehensive changes to address deep-rooted challenges.

The Independent UK

Poverty in Lebanon tripled over a decade, World Bank says

The World Bank says poverty in Lebanon has tripled over the course of a decade during which the small Mediterranean country slid into a protracted financial crisis

The Guardian - UK

Things can only get better? For Sunak and the UK economy, this might be as good as it gets

Economies decide elections but with growth tentative, inflation sticky, and tax cuts unlikely, why would the PM wait

TechRadar

Top data breaches and cyber attacks in 2024

An exhaustive list of major data breaches in 2024 so far.

The Guardian - UK

Current and future chancellor face tough choices after IMF report on UK economy

Body says £30bn fiscal gap cannot be filled by higher growth or extra borrowing. So how will No 11 ease pressure on public finances?

Evening Standard

FTSE 100 Live 21 May: Inflation in focus after index closes slightly down

Higher-than expected UK inflation figures disappointed the City today, with shares falling as the 2.3% Consumer Price Index reading dashed hopes of a June interest rate cut.

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