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The Latest Breaking News from International Monetary Fund

IMF says Sri Lanka's economic recovery shows signs of improvement but challenges remain

The International Monetary Fund says that debt-stricken Sri Lanka, which declared bankruptcy last year, is showing signs of economic improvement but its recovery still faces challenges

The Independent UK

Despair in Ettadhamen: The harsh reality of Tunisia’s economy

‘This … system, goes back to the beys who needed to keep their courtiers happy to maintain their rule’, analyst says.

Al Jazeera

Sri Lanka reduces interest rates for 1st time since bankruptcy as economy shows signs of rebounding

Sri Lanka’s Central Bank has reduced its interest rates for the first time since the island nation declared bankruptcy last year

The Independent UK

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I got rich in Russia and got out in time, twice. Here’s what I learned about democracy and free markets

Most totalitarian regimes never prosper for more than a generation or two. The parasitic behaviors of such governments eventually drain the economy.

Fortune

Ukraine's economy shows 'resilience' from Russian attacks, IMF says as it backs aid

International Monetary Fund has signed off on an initial loan of $900 million and raised its estimate for the country’s economic growth

The Independent UK

Ghana and the IMF have struck a deal, but hard choices lie ahead

In mid-May 2023 the International Monetary Fund (IMF) finally approved a US$3 billion 36-month arrangement with Ghana. It immediately disbursed the first tranche of US$600 million.

The Conversation

First IMF review of Ukraine loan facility paves way for $900 million payout

An International Monetary Fund mission has completed its first review of a $15.6 billion loan programme for Ukraine and the country has met the required conditions, paving the way for a payout of around $900 million, the IMF said on Tuesday.

Reuters

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IMF reaches staff agreement on Ukraine loan review; will enable $900 million disbursement

The International Monetary Fund said on Tuesday that it has reached a staff-level agreement with Ukraine for the first review of the war-torn country's $15.6 billion IMF loan program, which would allow for a $900 million disbursement to Kyiv upon approval by the IMF Executive Board.

Reuters

IMF hoping for board meeting on Pakistan before current program expires

The International Monetary Fund (IMF) remains in touch with Pakistan's authorities in order to pave the way for a board meeting before a financing program expires at the end of June, the IMF mission chief for Pakistan said.

Reuters

A world of debt is in need of more flexibility

Recent headlines seem to augur a global debt crisis. The US is teetering on the precipice of a self-inflicted default. Egypt, Ghana, Pakistan, and other countries face grave financial difficulties. And the Chinese are delaying or hampering multilateral efforts to restructure low- and middle-income countries' debt.

Bangkok Post

Pakistan to share budget details with IMF to unlock funds - finance minister

Pakistan's Finance Minister Ishaq Dar said on Sunday the country will share its upcoming budget details with the International Monetary Fund (IMF) in order to unlock stalled funds.

Reuters

Terrible week for Sunak and Hunt puts election victory all but out of reach

Praise from the IMF and optimism on inflation have given way to echoes of last autumn’s turmoil

The Guardian - UK

Data | Exports and imports shrink across many nations for most items in 2023

India’s exports and imports further weakened in April, 2023, in continuation of the declining trend that has been observed since June, 2022.

The Hindu

Argentina VP says IMF hinders growth in Revolution Day speech

Argentine Vice President Cristina Fernandez de Kirchner slammed the International Monetary Fund (IMF) on Thursday, saying that the program agreed to with the multinational lender is holding back the country's economy.

Reuters

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Bangkok Post

Trying to keep small islands afloat

It is too early to tell whether all the talk about reforming development finance at this year's International Monetary Fund and World Bank Spring Meetings will translate into meaningful policy action for the Global South. But multilateral financial institutions increasingly recognise the need to evolve to remain relevant in light…

The Conversation

Improving how the IMF does business could help billions of people worldwide — by giving governments money to spend on public goods and increasing accountability. Podcast

In countries across the Global South, the launch of IMF programs often sparks considerable concern. This is because of the IMF’s reputation: during the 1980s, many nations in Africa, Asia and Latin America turned to the IMF seeking loans to mitigate economic challenges. These loans were accompanied by stringent conditions,…

Reuters

Sri Lanka president vows to conclude debt-restructuring talks by Sept or Nov

Debt-laden Sri Lanka should be able to conclude a new round of restructuring talks by September or November at the latest, its president said on Thursday, adding that the negotiations had made "remarkable" progress.

The Independent UK

Rees-Mogg questions whether Government seeks to remain aligned with EU

He was speaking as MPs debated Lords amendments to the Retained EU Law (Revocation and Reform) Bill.

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Reuters

Bangladesh PM says 'very much sure' country able to repay IMF loan

The Prime Minister of Bangladesh Sheikh Hasina said on Wednesday she is confident that the country will be able to meet its commitments to the International Monetary Fund.

The Guardian - UK

IMF’s anti-tax cut stance may give Rishi Sunak cover to resist Tory right

UK ministers will use improved forecast to claim plans are working – but IMF also urged more action to protect vulnerable people

The Times of India

India-Australia relationship is based on mutual trust and mutual respect:PMModi

Mutual trust and respect foundation of India-Australia ties: PM Modi

Evening Standard

UK will avoid recession in 2023, says IMF

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

The Independent UK

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 Guardian - 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

Reuters

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.

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