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The Latest Breaking News from International Monetary Fund

Saudi Arabia Underlines Support to IMF Efforts to Alleviate Global Food Crisis

Saudi Minister of Finance Mohammed Al-Jadaan underlined his country’s support to the efforts of the International Monetary Fund (IMF) to mitigate the impact of the global food crisis. During a meeting with IMF Managing Director Kristalina Georgieva, Al-Jadaan discussed areas of bilateral cooperation, including capacity development and the establishment of…

Asharq Al-Awsat

Chancellor expected to U-turn on scrapping 45p tax rate

The Chancellor’s mini-budget triggered turmoil in the City and was criticised by the International Monetary Fund.

The Independent UK

The U.K. is staring into an economic abyss

Britain may well pay the price for Prime Minister Truss’s move to take on the ‘economic orthodoxy’ of the Treasury and economists

The Hindu

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How the Tories wrecked the economy in seven days

IT took Liz Truss’s Government just under a month to see the value of the pound drop to historic lows, the Bank of England being forced to step in…

The National (Scotland)

IMF board approves new food shock financing window to ease war shortages

The International Monetary Fund said its executive board approved a new mechanism for low-condition emergency loans to help vulnerable countries cope with food shortages and rising costs stemming from Russia's war in Ukraine.

Reuters

IMF Says Ukraine War Prompts Worst Global Food Crisis Since at Least 2008

The Ukraine war's disruptions to grain and fertilizer flows have prompted the worst food security crisis since at least the one following the 2007-2008 global financial meltdown, with some 345 million people now facing life-threatening shortages, the International Monetary Fund said on Friday. A new IMF research paper estimates that…

Asharq Al-Awsat

IMF says Ukraine war prompts worst global food crisis since at least 2008

Reuters

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Why IMF comments on the UK economy spooked traders and investors

Everyone from political pundits to people on the street have issued forth on the new UK government’s tax cut-laden growth plan recently. But it was a rare public rebuke from the International Monetary Fund (IMF) that really impacted financial markets.

The Conversation

UN farm fund in talks with IMF to join forces on resilience trust -president

The United Nations International Fund for Agricultural Development (IFAD) is in talks with the International Monetary Fund on joining forces on a new financing programme designed to shore up sustainable growth in poorer countries.

Reuters

What does government support for fossil fuel subsidies cost our economy and environment?

Experts say government subsidies for private companies sustain the environmentally unsustainable, and lead to inequality and poor business practices.

ABC News

Bombshell polls throw massive question mark over Liz Truss’s future as PM

Tory meltdown after ‘unforced error’ Budget gifts Keir Starmer leads of up to 33 points

The Independent UK

What would happen if the IMF bailed out Britain?

Fund issues rare rebuke to UK warning against pursuing Kwasi Kwarteng’s tax-slashing agenda

The Independent UK

Petition demanding early general election passes 100,000 needed for parliament consideration

The motion will now be considered for debate

The Independent UK

What Liz Truss said to every BBC radio station during car crash round of interviews

The Prime Minister attempted to address concerns surrounding her mini budget in the House of Commons last week.

Daily Record

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Reuters

IMF agrees $293 million financing for Barbados, first deal under new trust fund

The International Monetary Fund said on Wednesday that its staff has agreed on some $293 million in new financing for Barbados, including $183 million via a new trust fund created to help vulnerable middle-income and island countries.

The Guardian - UK

The Guardian view on the financial crisis: a meltdown made in Downing Street

Editorial: Liz Truss’s first big policy has been shot down by financial markets – and her economic credibility shredded

Asharq Al-Awsat

Lebanon to Slash Official Exchange Rate from Nov. 1, Finance Min Says

Lebanon plans to slash its official exchange rate, replacing the 1,507 per dollar rate adopted 25 years ago with a rate of 15,000 in a step towards unifying numerous exchange rates, the finance minister told Reuters on Wednesday. The pound has plunged by more than 95% from the official rate…

The Independent UK

What would happen if the IMF bailed out Britain?

Fund issues rare rebuke to UK warning against pursuing Kwasi Kwarteng’s tax-slashing agenda

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Evening Standard

What is the IMF and what did it say about the Government’s fiscal plans?

The IMF claims the £45 billion-worth of tax cuts will likely increase inequality in the UK

The Independent UK

Nicola Sturgeon: UK is in midst of rapidly deteriorating economic crisis

The First Minister called for the UK Government to immediately walk back plans to scrap the top rate of tax.

The National (Scotland)

UK faces 'economic situation not seen in living memory' says First Minister

Nicola Sturgeon said that the impact of the sweeping tax cuts could lead to an economic crisis worse than the 2008 global financial crash

Reuters

Ghana negotiations with IMF to be fast-tracked : finance minister

Ghana's negotiations with the International Monetary Fund over a rescue package will be fast-tracked, the country's Finance Minister Ken Ofori-Atta said on Wednesday.

Insider UK

Bank of England begins emergency bond-buying as UK borrowing costs soar

Chancellor moves to reassure markets after his 'mini-budget' on Friday sent Sterling to an all-time low against the Dollar

The National (Scotland)

'Unmitigated disaster': Serious concern over IMF's warning to Tory Chancellor

The International Monetary Fund (IMF) rebuked the UK Government in the days following Kwasi Kwarteng’s mini-budget

Evening Standard

Bank of England forced to intervene to stabilise economy after Kwasi Kwarteng mini-Budget

The Bank of England on Wednesday made an emergency intervention to protect Britain’s “financial stability” after Kwasi Kwarteng’s shock mini-Budget.

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