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The Latest Breaking News from International Monetary Fund

France, Barbados, Zambia back new climate finance advocacy campaign

The leaders of France, Spain, Barbados and Sierra Leone were among those to back a new coalition on Thursday aiming to accelerate the flow of climate-related finance to the world's poorest countries.

Reuters

EU, Other Nations Warn Lebanese Officials on Worsening Economic Crisis

The European Union and seven other countries said in a joint statement on Thursday that Lebanon “faces one of the worst economic crises in modern history” and called for “meaningful reforms.” “This month marks one year since Lebanon reached a Staff-Level Agreement (SLA) with the International Monetary Fund (IMF),” said…

Asharq Al-Awsat

Sri Lanka seeks $17 billion debt reduction by restructuring

Sri Lanka’s president has asked its parliament to approve a four-year International Monetary Fund program to restructure the country's $17 billion in foreign debt

The Independent UK

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Global economic uncertainty means oil prices -- and your fuel bill -- will continue to surprise this year

Oil prices have confounded expectations in the first quarter of 2023. Brent – a major global benchmark – hit a low of US$72 (£58) a barrel on March 17, while the world’s other main benchmark, WTI, dropped to less than US$66 a barrel. This is a far cry from the…

The Conversation

IMF approves immediate disbursement of about $153 million to Tanzania

The executive board of the International Monetary Fund on Monday approved the first review of Tanzania's three-year extended credit facility, allowing immediate disbursement of about $153 million in budgetary support, the IMF said in a statement.

Reuters

Hayley Atwell's Mission: Impossible Journey With Tom Cruise Could Have Started A Lot Sooner

The world can't wait to experience Hayley Atwell's Mission: Impossible entrance, and history almost made it happen much earlier.

Cinemablend

Schizophrenia being displayed at the IMF

It has taken far too long, but it seems that the International Monetary Fund has finally internalised some hard truths about sovereign-debt reduction. Chief among them is that growing economies have an easier time repaying. As such, fiscal consolidation -- the organisation's favoured strategy -- undermines efforts to reduce debt-to-GDP…

Bangkok Post

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Minister: UK has relationship with African people while China focuses on elites

Andrew Mitchell said development is ‘above all about stopping conflict’ as violence continued to rock Sudan.

The Independent UK

Sunak criticised for ‘own goal’ over loss of tax-free shopping for tourists, as PM tries to woo business leaders – as it happened

Rishi Sunak hears concerns over tax-free shopping rules, AI and CBI allegations at first summit with UK corporate leaders

The Guardian - UK

PM to kick off business conference aimed at boosting UK’s economic growth

Rishi Sunak said the Business Connect event would bring the UK’s biggest companies and investors together for ‘meaningful dialogue’.

The Independent UK

UK to be hit with fastest and harshest price rises in the G7

Forecasts show that prices for everyday goods are set to rise 40 per cent faster in the UK than any other major advanced economy

The Independent UK

France, Japan, India team up to rescue Sri Lanka from China debt trap

France, India and Japan have teamed up and invited others to join in the rescue of Sri Lanka’s crippled economy, a crisis blamed on mindless spending by the island’s rulers of money borrowed from China.

Radio France Internationale

The Treasurer has great ideas, but barely a chance to them into action

The Treasurer's upcoming budget will be difficult. So difficult that it’s unlikely to see any reforms to rein in spending or grow revenue .

The New Daily

Bahrain Hails IMF's Report on Kingdom's Unemployment Rate

Bahrain's Labor Minister Jamil bin Muhammad Ali Humaidan underscored the international community’s confidence in the Kingdom's public aimed at sustaining growth in the labor market. Humaidan's statements highlighted the indicators revealed by the International Monetary Fund (IMF) in its latest report, which expected unemployment rate in Bahrain to drop to…

Asharq Al-Awsat

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Reason

The Biden Administration Reduced the Debt-to-GDP Ratio in the Worst Possible Way

The main driver behind the reduction is inflation—inflation that politicians created with their irresponsible spending.

The Week

Pakistan’s descent into crisis

Pakistan appears to be on the brink of a full-blown crisis with the country struggling to get on top of mounting security threats, political uncertainty and economic instability.

The Guardian - UK

This isn’t wage-price inflation, it’s greedflation – and big companies are to blame

British ministers seem keen to avoid what the data tells us, says the Guardian’s economics editor, Larry Elliott

Bangkok Post

Bangkok to host 2026 IMF-World Bank meetings

WASHINGTON: The International Monetary Fund and World Bank Group said on Wednesday they will hold their 2026 annual meetings in Bangkok, returning the October gathering to Thailand for the first time since 1991.

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Asharq Al-Awsat

IMF: Private Sector Investments Will Drive Saudi Economic Growth

Saudi Arabia’s budget will achieve more financial revenues following a production cut announced by the Kingdom with OPEC and its allies, according to the International Monetary Fund (IMF), thanks to higher crude prices. “The impact on the budget and on the external position relative to what we had projected is…

Reuters

Zambians struggle with cost of living as debt rework drags on

The Comesa market in Zambia's capital Lusaka appears to be bustling, but traders say business is suffering as a weak local currency pushes up prices, adding to the hardships of a population already struggling with soaring living costs.

Al Jazeera

‘No one was prepared’: Vanuatu feels cost of climate crisis

Twin cyclones hit Pacific island nation already struggling to recover from the effects of the COVID-19 pandemic.

Bangkok Post

Region's state debt reaches 18-year high

The average government debt level in Asia-Pacific is at an 18-year high, with most developing economies in the region trying to stabilise it at current levels by 2027, according to recent research.

The Independent UK

Slow start on World Bank reform angers climate-hit countries

World Bank meetings in Washington were supposed to be a first step in a new era of affordable loans for developing nations hard hit by climate change

StockNews.com

Stay Away From These 3 Sinking Stocks

Worries about weaker energy demand due to resurfacing threats of recession, spurred by rising interest rates, might jeopardize the energy drilling sector’s growth. Amid this, it could be wise to stay away from sinking stocks such as Valaris (VAL), Transocean (RIG), and Diamond Offshore Drilling (DO). Continue reading….

The Conversation

Debt dangers in Africa: how defaults hurt people, and why forgiveness isn’t the answer

Public debt repayments in some African countries are at their highest levels since 1998. The Conversation Africa’s founding editor Caroline Southey talks to dean and economics professor Philippe Burger about the danger of debt problems some African countries face.

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