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The Latest Breaking News from International Monetary Fund

Scientists now one step closer to identifying the source of solar mean magnetic field: Indian Institute of Astrophysics study

Scientists from the Indian Institute of Astrophysics (IIA) through their latest study have given a clearer picture of how the sun’s magnetic field influences the interplanetary magnetic space which is the primary driver of space weather.

The Hindu

IMF says banning crypto 'may not be effective' and encourages governments to consider 'well designed' CBDCs

A Thursday blog post noted that people in Latin America have been turning to crypto for protection against macroeconomic conditions—and for cheaper and faster payments.

Fortune

Rich nations pledge to unlock hundreds of billions for climate fight

Multilateral development banks like the World Bank are expected to find $200 billion in extra firepower for low-income economies by taking on more risk, a move that may require wealthy nations to inject more cash, world leaders said on Friday.

Radio France Internationale

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Financial systems failing Africa

The United Nations Secretary-General, António Guterres, recently sounded an ominous alarm bell. The Sustainable Development Goals (SDG), which aim to significantly reduce poverty around the world and create a better quality of life for all, are off track, he warned.

Bangkok Post

Pakistan's premier meets with the head of IMF in Paris, hoping to unlock $6B deal to avoid default

Officials say Pakistan’s Prime Minister Shahbaz Sharif has met with the head of the International Monetary Fund in Paris on the sidelines of the global financing summit in a last-ditch effort to unlock a $6 billion bailout package to help avoid a default

The Independent UK

Pakistan PM Sharif requests IMF release $1.1bn tranche

Pakistan is facing a dire economic situation in an election year with multiple challenges mounting.

Al Jazeera

Paris climate summit opens with call for ‘finance shock’

PARIS: French President Emmanuel Macron told global leaders Thursday that no country should have to choose between tackling poverty and dealing with climate change at a summit tasked with reimagining the world’s financial system.

Bangkok Post

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Macron opens Paris summit to help developing nations face climate crisis

Heads of state, finance leaders and activists from around the world are converging in Paris to attend a summit which aims to overhaul the world's development banks and help developing countries face the challenges of a warmer and stormier world.

Radio France Internationale

Paris summit aims to overhaul global financial system for 'climate solidarity' with South

Around 50 heads of state, along with representatives from international institutions and civil society, will attend a summit hosted by French President Emmanuel Macron on Thursday and Friday in Paris. Their objective is to develop a new global financial system so the most vulnerable countries will be better equipped to…

France 24

Paris hosts summit to secure debt relief and climate cash for developing countries

On 22 and 23 June, Paris is hosting a summit for a “New Global Financing Pact” at the Palais Brogniart. Heads of state, international organisations and representatives of civil society will be gathering to discuss ways to boost solidarity toward the Global South. The aim is also to contribute to…

The Conversation

China's economic recovery is built on increasingly shaky foundations and that could affect the whole world

Confidence in China’s post-COVID recovery has started to waver over the past week after the world’s second-largest economy reported disappointing figures for two of the major drivers of its economy: property and exports.

The Conversation

Paris summit aims to shake up the financial system. It will test leaders' resolve on climate

Heads of state, finance leaders and activists are converging in Paris to seek ways to overhaul the International Monetary Fund and World Bank and usher the global development banks into a post-pandemic world with a rapidly changing climate

The Independent UK

Christopher McQuarrie says Edgar Wright’s feedback completely changed Mission Impossible 7

EXCLUSIVE: Christopher McQuarrie talks getting advice from fellow director Edgar Wright on Mission: Impossible – Dead Reckoning Part One

Total Film

Debt relief urgent for poor countries hit by climate shocks, says IMF chief

Exclusive: Kristalina Georgieva calls for ‘debt for climate swaps’ ahead of world summit on new global financial pact

The Guardian - UK

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The Conversation

Deadly tragedy off the coast of Greece exposes how human traffickers are exploiting Pakistan's economic meltdown

Pakistan is experiencing a confluence of crises attributed to a decline in governance standards. Security challenges, chiefly posed by terrorism, have exacerbated the country’s economic deterioration, which in turn has given rise to energy shortages, rampant unemployment and soaring inflation rates.

Al Jazeera

US senators introduce bill for restoration of Tunisia’s democracy

The legislation acknowledges that President Kais Saied has taken steps to undermine Tunisia’s democratic institutions.

The Independent UK

UN steps up criticism of IMF and World Bank, the other pillars of the post-World War II global order

From the ashes of World War II, three institutions were created as linchpins of a new global order

The Independent UK

IMF head welcomes Europe's interest rate hikes in campaign against inflation

The head of the International Monetary Fund has praised the European Central Bank’s decision to raise interest rate for the eighth time in a row

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The Independent UK

IMF slams new Pakistan budget proposal, says government failing to implement a more fair tax system

The International Monetary Fund has slammed Pakistan’s government over its proposal for the new annual budget, saying it failed to implement a more fair tax system in the draft

The Guardian - UK

The west has broken its promises to developing countries – and we’re all paying the price

A summit in Paris this month offers a way to tackle this disastrous failure, but only if western leaders bother to turn up, says the Guardian’s economics editor, Larry Elliott

Al Jazeera

Pakistan budget ‘missed opportunity’ as IMF bailout cutoff looms

Global lender expresses dissatisfaction with recently presented budget only two weeks before bailout programme expires.

The Guardian - AU

New Zealand falls into recession, as impact of cyclones takes toll

As the economy shrinks by 0.1% in the March quarter, officials say the impacts of cyclones Hale and Gabrielle worsened the economic outlook

The New Daily

Lebanon’s crisis deepens as presidential vote fails

Lebanon has been plunged deeper into crisis after Hezbollah and its allies thwarted a bid to elect a top IMF official as president.

The Independent UK

Lebanese lawmakers fail in yet another attempt to elect president, end power vacuum

Lebanese lawmakers have failed in yet another attempt to elect a president and break a seven-month power vacuum roiling the country

Manchester Evening News

UK economy returns to growth after Brits spend more in pubs, bars and shops

The UK's GDP was boosted by 0.2 percent in April after a fall in March

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