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The Latest Breaking News from International Monetary Fund

'For a better Kenya': protesters ready for new march despite Ruto U-turn

Kenyan demonstrators prepared to resume protests Thursday, a day after President William Ruto made a dramatic U-turn and withdrew contentious tax hikes following deadly rallies earlier in the week.

Radio France Internationale

‘The people have spoken’: Why did Kenya’s Ruto reject tax bill he pushed?

Western pressure likely made Ruto backtrack after deadly violence, but his credibility has been badly hit, say analysts.

Al Jazeera

Sri Lanka reaches deal on debt restructuring with bilateral creditors including China and France

Sri Lanka’s President Ranil Wickremesinghe has announced a debt restructuring deal with countries including India, France, Japan and China in a televised address to the nation

The Independent UK

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Kenya's Ruto says finance bill to be withdrawn after anti-tax protest deaths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

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

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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

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

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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.

Top News

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...

The Independent UK

IMF upgrades its forecast for China's economy, but says reforms are needed to support growth

The International Monetary Fund has upgraded its forecast for China's economy, while warning that reforms are needed to sustain growth

International Business Times

IMF Lifts China Growth Forecast But Warns On Industrial Policy

The International Monetary Fund on Wednesday raised its yearly growth forecast for China, but warned that Beijing's industrial policy risks a "misallocation" of resources and could harm trade.

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Inverse

9 Years Later, The Century's Best Spy Thriller Franchise Could Regain A Secretly Crucial Character

How do you make impossible missions plausible? When it comes to 'Mission: Impossible' movies, the answer might be Jeremy Renner.

The Guardian - UK

Sunak dashed for July election because hopes of UK economic recovery are fading

Prime minister knows economy is likely to be in even worse shape by autumn or winter, but summer’s good news won’t impress a battered public

The Guardian - UK

Hopes grow of G7 deal to support Ukraine with $300bn in frozen Russian assets

Foreign ministers confident of agreement to use bank assets as security for Ukraine reconstruction loan

Al Jazeera

Poverty in Lebanon more than tripled in past decade: World Bank

Report shows country has slid into a protracted financial crisis, with Syrian refugee population hit particularly hard.

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

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