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The Latest Breaking News from International Monetary Fund

Bank of England admits it made errors in inflation forecasts

The Bank’s top economist Huw Pill acknowledged forecasts for inflation were ‘too low’, leading to mistakes in its decision-making

The Independent UK

IMF says UK no longer heading for recession but urges against tax cuts

Jeremy Hunt should squeeze public spending and cut debt, says Washington-based body

The Guardian - UK

IMF mission starts review of Ukraine's new loan program

An International Monetary Fund mission started work on Tuesday on the first review of a $15.6 billion loan program that it approved in March, the Ukrainian finance ministry said.

Reuters

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UK will avoid recession in 2023 – IMF

In April it forecast that UK output was expected to contract by 0.3%.

The Independent UK

‘Ghana beyond aid’ no longer: West Africa’s former model student forced to turn to IMF

Formerly praised for its stability and good governance, Ghana has been facing a severe economic crisis since the onset of the Covid-19 pandemic and the war in Ukraine. To prevent Accra from defaulting on its debt, the International Monetary Fund (IMF) on Wednesday approved a $3 billion loan in exchange…

France 24

Pakistan investors brace for shockwaves as Imran Khan tests army

ISLAMABAD: Pakistan investors are bracing for a sudden jolt as former premier Imran Khan’s showdown with the powerful military, and the government, reaches a tipping point.

The Times of India

Argentina president, protesters slam IMF debt, austerity as economy creaks

Argentine President Alberto Fernandez and protesters in Buenos Aires pushed back against the International Monetary Fund (IMF) on Thursday amid heightened tensions with the lender as the country faces nearly 109% inflation and dwindling dollar reserves.

Reuters

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Top Lebanese official in IMF talks calls for central bank head to resign amid corruption allegations

The Lebanese official heading talks with the International Monetary Fund to bailout Lebanon’s tanking economy has called for the country’s embattled central bank chief to resign

The Independent UK

Takeaways of AP's report on Chinese loans pushing poor countries to brink of collapse

A dozen poor countries are facing economic instability and even collapse because of a common, undeniable factor: their struggle to pay back hundreds of billions of dollars in foreign loans, much of them from the world’s biggest and most unforgiving government lender, China

The Independent UK

'Clock has hit midnight': China loans pushing world’s poorest countries to brink of collapse

A dozen poor countries are facing economic instability and even collapse under the weight of hundreds of billions of dollars in foreign loans, much of them from the world’s biggest and most unforgiving government lender, China

The Independent UK

Mission Impossible 7's thrilling trailer sees Tom Cruise ride a motorbike off a mountain

Mission: Impossible – Dead Reckoning Part One sees Ethan Hunt take on his most difficult task yet.

TechRadar

Mission: Impossible - Dead Reckoning Part One's Trailer Shows Off A Tom Cruise And Hayley Atwell On A Falling Train

The new trailer for Mission: Impossible - Dead Reckoning Part One is here, with Tom Cruise and Hayley Atwell achieving zero G in a falling train.

Cinemablend

Creating pathways for Arab youth

Optimism can be difficult to muster at a time of heightened uncertainty and global turmoil. The 2022 ASDA'A BCW Arab Youth Survey, conducted only a few months after Russia's full-scale invasion of Ukraine and on the heels of the Covid-19 pandemic, reflected a darkening economic outlook.

Bangkok Post

UK economy: why the Bank of England is now more upbeat than the IMF

The Bank of England has changed its mind about the prospects for the UK economy. Having been predicting a recession in 2023 as recently as February, its latest May report is expecting a soft landing from the bout of high inflation and a year of interest rate hikes.

The Conversation

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The Independent UK

IMF: Sri Lanka's crisis-hit economy likely to resume growth in 2024 after contracting 3% this year

The International Monetary Fund says Sri Lanka’s crisis-hit economy is expected to resume growing in 2024 after contracting 3% this year

Al Jazeera

Government sells 9.5% of state-controlled Telecom Egypt

The sale comes as part of the country’s privatisation drive to meet a series of foreign debt obligations.

Reuters

Pakistan's external financing requirements for IMF deal unchanged - IMF

Pakistan's external financing requirements have not been changed in talks with the International Monetary Fund (IMF) over bailout funds, the IMF Resident Representative in Pakistan said, denying local media reports that the Fund was seeking fresh financing.

The Hindu

Finance Minister meets IMF MD Georgieva on sidelines of G7 meeting

Finance Minister Nirmala Sitharaman on May 12 met International Monetary Fund (IMF) managing director K Georgieva on the sidelines of G7 Finance Minister Central Bank Governors meet.

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Al Jazeera

Pakistan’s reeling economy takes new hit from protests

Firms and gig workers see losses piling up amid internet shutdowns in big cities.

Reuters

Pakistan needs significantly more financing for successful bailout review -IMF

Pakistan needs significant additional financing for a successful completion of the long-stalled ninth review of the International Monetary Fund's bailout package, the IMF said in a scheduled press conference on Thursday.

Cinemablend

Turns Out Tom Cruise Regretted One Death From The First Mission: Impossible Movie So Much, He Tried To Undo It

Following the first Mission: Impossible movie, Tom Cruise had regrets about a specific character being killed off and tried to undo it.

Reuters

Analysis-North Africa backslides toward swirling debt troubles

Tunisia and Egypt are edging closer to major debt crises that could suck in a volatile North Africa region and pose tough choices to wealthy Gulf Arab neighbours, investors and analysts warn.

Reuters

IMF delegation to arrive in Sri Lanka on Thursday

An International Monetary Fund (IMF) staff team will arrive in Sri Lanka on Thursday, a statement from the global lender said as the crisis-hit country prepares for the first review of a loan programme in September.

Reuters

Factbox-Imran Khan's arrest adds to Pakistan's economic, political challenges

The arrest of former Pakistan Prime Minister Imran Khan and the call from his party for nationwide protests present another blow to the nuclear-armed country struggling with an economic crisis.

The Times of India

Pakistan could default without IMF bailout loans, Moody’s warns

ISLAMABAD: Pakistan could default without an International Monetary Fund bailout as its financing options beyond June are uncertain, Moody’s Investor Service said.

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