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The Latest Breaking News from International Monetary Fund

IMF approves nearly $3 billion bailout for Sri Lanka

The International Monetary Fund (IMF) on Monday said its executive board approved a nearly $3 billion bailout for Sri Lanka, and the country's presidency said the program will enable it to access up to $7 billion in overall funding.

Reuters

Italy pushing IMF to help Tunisia and avoid instability, minister says

Italy wants the International Monetary Fund (IMF) to unblock a $1.9 billion loan to Tunisia, fearful that without the cash, the country will be destabilised, unleashing a new wave of migrants towards Europe, Foreign Minister Antonio Tajani said.

Reuters

Russia-Ukraine war: List of key events, day 388

As the Russia-Ukraine war enters its 388th day, we take a look at the main developments.

Al Jazeera

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Imran Khan vows to appear in Pakistan court after street battles

Former Pakistan Premier Imran Khan vowed to turn up in court on Saturday after skipping hearings, potentially setting the scene for further political unrest in a country that’s at risk of a default.

Tribune News Service

IMF approves rule change that would allow new Ukraine loan program

The International Monetary Fund said its executive board on Friday approved rule changes that would allow the IMF to approve new loan programs for countries facing "exceptionally high uncertainty" - a move expected to pave the way for a new Ukraine loan program.

Reuters

Pakistan court again halts police action against Imran Khan

A Pakistan court has suspended any further police action against former Prime Minister Imran Khan until Friday, after two days of violent clashes outside his home prevented security officials from arresting him.

Tribune News Service

Opinion: Internationalizing the Yuan Is Not Easy, but China Is Pulling Out All the Stops

Beijing is using policy support, a large financial market, stable currency value and increasing exchange rate flexibility to make the renminbi a currency of choice in global markets

Caixin Global

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Sri Lankan state workers strike, protesting high taxes

Sri Lankan health, railway, port and other state workers are on a daylong strike to protest against sharp increases in income taxes and electricity charges, as the island nation awaits approval of an International Monetary Fund package to aid its bankrupt economy

The Independent UK

Standard & Poor’s Maintains Jordan’s Credit Rating

Jordan's Finance Minister Mohamad Al Ississ told Reuters on Tuesday that S&P Global's decision to maintain the kingdom's sovereign credit rating at B+/B reflected confidence in accelerating IMF-backed reforms. "This is the latest confirmation of Jordan's credit rating ...

Asharq Al-Awsat

Lebanon: Mikati Says Parties Rejecting Cabinet Meetings Better Elect a President

Lebanon’s caretaker Prime Minister Najib Mikati hailed the latest development in the Saudi-Iranian relations, stressing that Lebanon supports any "consensual" course in the region mainly that Saudi Arabia is a party to it.

Asharq Al-Awsat

Foreign minister says Pakistan in `perfect storm' of crises

Pakistan’s foreign minister says his country is facing “a perfect storm” of troubles — an economic crisis, the consequences of catastrophic flooding and terrorism “that is once again rearing its ugly head” as a result of the Taliban takeover of Afghanistan

The Independent UK

How skyrocketing inflation has hit Pakistan’s most vulnerable

With Ramadan approaching, millions of Pakistanis struggle to put food on the table amid a worsening economic crisis.

Al Jazeera

Sri Lanka leader says IMF deal imminent after China's pledge

Sri Lanka’s president says China has given crucial debt restructuring assurances that mean the bankrupt nation could get its bailout package approved soon

The Independent UK

How the IMF naively parroted Putin’s fake statistics–and botched its economic forecast for Russia

The IMF simply does not have the data it needs to independently calculate Russia’s GDP by any accepted method.

Fortune

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France 24

‘Down with the police state,’ chant thousands of protesters in Tunisia

Thousands of people marched through Tunisia's capital on Saturday, decrying an expanding crackdown on opposition voices and rising inflation as the country's largest trade union called on President Kais Saied to accept "dialogue".

Al Jazeera

Sri Lanka raises rates, relaxes currency band to secure IMF funds

The country is awaiting approval of a $2.9bn IMF bailout package as it endures its worst financial crisis since 1948.

Bangkok Post

How to finance global survival

We must face, and act upon, an inconvenient truth. The impact of human activities on Earth's geology and ecosystems is threatening the foundations of life on our planet and decades of progress in human development.

The Times of India

Markets brace for Pakistan default risk as $7 billion debt looms

ISLAMABAD: Bondholders are bracing for a potential default by Pakistan as the beleaguered nation struggles to meet billions of dollars in debt repayments by June.

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Al Jazeera

Half of Sri Lanka families reducing children food intake: Charity

Government and global community must act to prevent children from ‘becoming a lost generation’, warns Save the Children.

Asharq Al-Awsat

Egypt Hikes Gasoline Prices in Quarterly Review

Egypt raised domestic gasoline prices on Thursday in line with a commitment under a financial support package with the International Monetary Fund, while keeping the diesel price unchanged, the petroleum ministry said in a statement. The country's fuel pricing committee set the prices in a quarterly review, raising the price…

The Independent UK

In Egypt, government and poor struggle with troubled economy

Egypt is in an economic crisis worsened by the Russian invasion of Ukraine

Al Jazeera

Europe leaps towards energy autonomy as sanctions undercut Russia

Moscow has waged an energy war against the EU over the past year, but the bloc appears to be holding firm.

Tribune News Service

Yellen makes surprise visit to Ukraine to reinforce US support

U.S. Treasury Secretary Janet Yellen made an unannounced trip to Ukraine to reinforce the Biden administration’s support and highlight the economic aid that’s helping keep the embattled nation’s schools, hospitals and other essential services running as Russia’s invasion enters its second year.

Asharq Al-Awsat

G20 Warns War Repercussions Exacerbate Global Economy Fragility

Finance ministers of the world's largest economies on Saturday strongly condemned Moscow's war on Ukraine, with only China and Russia refusing to sign a joint statement. India, the current chair of the Group of Twenty (G20), was reluctant to raise the issue of the war, but Western countries insisted they…

Reuters

Argentina in talks with IMF to ease reserves targets amid drought

Argentina's government is in final talks with International Monetary Fund officials to ease foreign exchange reserves targets for 2023 under the country's $44 billion program, two sources close to the matter told Reuters.

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