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The Latest Breaking News from International Monetary Fund

Watch: James Cartlidge makes statement after IMF forecasts UK economy to shrink

Watch as British junior finance minister James Cartlidge makes a statement on the latest IMF forecast, which slashes the UK’s growth outlook.

The Independent UK

Why the UK economy is worse off than Russia and other EU countries

IMF says UK economy will contract by a worse-than-expected -0.6 per cent

The Independent UK

SNP and Labour blame Tories for predicted economy shrink

The UK is set to be the only major economy to shrink this year with all other developed nations experiencing growth, including sanction-hit Russia.

Daily Record

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IMF says global growth 'surprisingly resilient' in updated forecast

The International Monetary Fund's new projections for 2023 show GDP for the world economy growing by 3.2 percent, compared to a 1.9 percent expansion last year. The improved forecast is aided by China's scrapping of its zero-Covid policy and the fall in gas prices. Also on the programme, we report…

France 24

No 10 warns public of ‘significant disruption’ tomorrow because of mass strikes – as it happened

Lecturers and university staff will walk out on Wednesday as teachers and train drivers also take action; ambulance staff to stage further strikes

The Guardian - UK

Family food bills up by £800 a year

Record 16% surge in shopping prices, Kantar survey shows

Evening Standard

IMF Upgrades Outlook for the Global Economy in 2023

The outlook for the global economy is growing slightly brighter as China eases its zero-COVID policies and the world shows surprising resilience in the face of high inflation, elevated interest rates and Russia's ongoing war against Ukraine. That's the view of the International Monetary Fund, which now expects the world…

Asharq Al-Awsat

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IMF warns UK economy is set for sharp contraction in ‘weakest performance among G7’

IMF predicts UK economy will contract by 0.6% in 2023 as Britain looks set to suffer more than most from soaring inflation

The Independent UK

UK tipped to be weakest major economy in world as cost-of-living crisis hits households hard

The IMF has predicted UK output to shrink by 0.6% this year

Wales Online

UK economy to shrink more than Russia, predicts IMF

The forecast leaves the UK economy languishing behind sanctions-hit Russia

The Independent UK

UK economy to go BACKWARDS in 2023 with worst performance of all major nations

The UK is set to see its economy contract 0.6% this year according to the International Monetary Fund which will be the worst performance of all the advanced nations

Daily Mirror

UK recession warning as IMF predicts weakest performance among G7

Britain's economy will slam into reverse this year as the cost-of-living crisis hits households hard, the International Monetary Fund warns

Evening Standard

Bangladesh secures $4.7 billion from IMF as other South Asian countries see delays

The International Monetary Fund (IMF) has approved loans of $4.7 billion to Bangladesh for disbursal starting immediately, making it the first to secure such funds out of three South Asian countries that applied last year amid economic trouble.

Reuters

Bangladesh to get $4.7bn IMF package

The funding comes under a new programme which aims to help vulnerable middle-income countries and island states.

Al Jazeera

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Asharq Al-Awsat

Egypt Central Bank: Pound Slips to New Low against Dollar

The Egyptian pound dipped to a new low Monday of just over 30 for $1, as the country continues to battle surging inflation and foreign currency shortages, authorities said. The landmark slide in Egypt's Central Bank selling rate is the latest in a series of tumbles following the country's $3…

The Conversation

Brazil's economic challenges are again Lula's to tackle – this time around they're more daunting

Even when they’re in trouble, Brazilians rarely lose their sense of humor. But in recent years, their joviality has often given way to political division everywhere from social media to the dinner table.

Reuters

IMF mission to visit Pakistan this month to discuss stalled bailout programme

An International Monetary Fund mission will visit Pakistan later this month to discuss the stalled ninth review of the country's current funding programme, the lender's resident representative said on Thursday, with the cash-strapped nation's economy in turmoil.

The Independent UK

Cash-strapped Pakistan's rupee plunges amid talks with IMF

Cash-strapped Pakistan’s currency has plunged against the dollar after the government indicated it was ready to comply with tough conditions set by the International Monetary Fund

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Reuters

Pakistan seeks U.S. help in unlocking $1.1 billion IMF loan - Dawn

Pakistan has sought support from Washington to unlock a stalled International Monetary Fund programme that would release $1.1 billion to its strained economy as the country rebuilds after last year's devastating floods, Dawn newspaper said on Thursday.

Asharq Al-Awsat

Egypt Economic Growth Seen Quicker than Government Forecast

Egypt's economy will grow 4.8 percent in the current fiscal year, faster than predicted by the government, but will not meet government targets over the medium term, a Reuters poll showed on Wednesday. The predictions follow the approval last month of a $3 billion financial rescue package from the International…

Reuters

IMF approves $86.9 million extended fund facility for Mauritania

The International Monetary Fund (IMF) has approved a $86.9 million extended fund facility for Mauritania, it said in a statement on Wednesday.

The Independent UK

Sri Lanka says debt-restructuring talks making progress

Debt-stricken Sri Lanka’s Central Bank chief says the country is making good progress in talks with its creditors to obtain financial assurances for debt restructuring, an important step toward finalizing an International Monetary Fund rescue plan

Asharq Al-Awsat

IMF Selects a Saudi as Chairman for Ad Hoc Audit Selection Committee

The members of the Executive Board of the International Monetary Fund (IMF) have unanimously selected the Executive Director of Saudi Arabia at the IMF, Abdullah bin Zarah, as chairman of the Ad Hoc Audit Selection Committee (ASC) and as a member of the Evaluation Committee (EVC) of the Executive Board…

Bangkok Post

China and the sovereign-debt time bomb

International capital flows have long been a major source of economic growth. Savings in higher-income countries have financed high-yielding investments in low-income countries, generating benefits for all. After World War II, capital flows under the Marshall Plan drove the rapid reconstruction of Europe, and after those countries recovered, they extended…

The Conversation

The world's carbon price is a fraction of what we need – because only a fifth of global emissions are priced

At the end of last year, the world’s average price to emit one tonne of greenhouse gases was around US$5.29 (AU$7.77). For pricing to work as we want – to wean us off fossil fuels – it needs to be around $75 by the end of the decade, according to…

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