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The Latest Breaking News from International Monetary Fund

Saudi Arabia Extends Terms of $5 Billion in Aid to Egypt

Saudi Arabia agreed Tuesday to extend the terms of a $5 billion aid package to Egypt in March, Saudi state media said, in a move aimed at bolstering the North African country’s recent deal with the International Monetary Fund. The extension reflects the generous directives of Custodian of the Two…

Asharq Al-Awsat

AP Interview: IMF chief urges targeted COVID policy in China

The head of the International Monetary Fund says it’s time for China to move away from mass lockdowns under its “zero-COVID” approach

The Independent UK

Rich nations have promised to pay for the climate crisis – but will they?

For too long pledges have gone unmet, so at Cop28 new solutions need to be explored, says Gordon Brown, WHO ambassador for global health financing

The Guardian - UK

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Lebanon’s Central Bank Says Audit of Gold Reserves Completed ‘Successfully’

Lebanon’s Central Bank announced on Friday that the audit of the bank’s gold reserves- coins and ingots- which came at the request of the International Monetary Fund, has been completed “successfully.” The bank said that the amount of gold bullions declared corresponded exactly with the quantity of gold in its…

Asharq Al-Awsat

Is Latin America Stuck?

The region could face a new lost decade.

Foreign Affairs

‘They teach us’: how whales can help dispel the myth of green capitalism

In her new book, Adrienne Buller argues the desire to eke profit out of climate policy is wilfully naive

The Guardian - UK

IMF, South Sudan in Pact for Emergency Funds of $112.7 Mln

The International Monetary Fund and South Sudan have reached a staff-level agreement for the release of about $112.7 million in emergency financing, the fund said on Tuesday. "This emergency financing under the new Food Shock Window will help South Sudan address food insecurity, support social spending, and boost international reserves,"…

Asharq Al-Awsat

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IMF, South Sudan in pact for emergency funds of $112.7 million

The International Monetary Fund and South Sudan have reached a staff-level agreement for the release of about $112.7 million in emergency financing, the fund said on Tuesday.

Reuters

Barbados spearheads push on climate disaster financing

As climate-amped disasters ratchet up the suffering, the staid international finace system designed for an earlier age may be on the brink of change, driven by those on the front lines

The Independent UK

Tory MP confronted live on air over claim UK is outpacing G7 economies

A CONSERVATIVE MP has been caught out live on air after she claimed the UK economy is doing better than the rest of the G7.

The National (Scotland)

IMF, Jordan Reach Agreement on Review of Economic Reform Program

An International Monetary Fund (IMF) mission has reached a staff-level agreement on the fifth review of the Jordanian authorities’ economic reform program supported by the Extended Fund Facility (EFF) arrangement. “Completing this review will bring total IMF disbursements over 2020-24 to around $2 billion.

Asharq Al-Awsat

China circles El Salvador’s economy as country edges toward crypto plunge

President Nayib Bukele bet on bitcoin and its tumbling value has put the Central American country in a financially precarious spot

The Guardian - US

Nationalism is the ideology of our age. No wonder the world is in crisis

Rishi Sunak and Joe Biden should be pushing for greater cooperation at the G20, says former UK prime minister Gordon Brown

The Guardian - UK

It's behind me: Imran Khan takes a U-turn on ‘US conspiracy' claim

LONDON: Imran Khan has said he wants to mend relations with the US if re-elected and no longer blames it for his removal as Pakistan Prime Minister, apparently taking a U-turn after accusing Washington of engineering his ouster by supporting the then opposition's no-confidence motion.

The Times of India

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Reuters

IMF says global economic outlook getting 'gloomier', risks abound

The global economic outlook is even gloomier than projected last month, the International Monetary Fund said on Sunday, citing a steady worsening in purchasing manager surveys in recent months.

Reuters

IMF chief warns on U.S.-China rivalry, calls Trump-era tariffs counterproductive

The head of the International Monetary Fund warned of risks to the global economy from the rivalry between China and the United States, while describing tariffs put on Chinese imports under then-President Donald Trump as counterproductive.

The Guardian - UK

Banks are leaving the Caribbean. It’s unfair and will backfire on the west

Financial ‘de-risking’ is making life difficult in vulnerable regions and will lead to more corruption and tax evasion, says Caribbean analyst Kenneth Mohammed

Reuters

IMF agrees $4.5 billion Bangladesh support programme

The International Monetary Fund (IMF) provisionally agreed a $4.5-billion support programme on Wednesday for Bangladesh, with the country's finance minister saying the deal would help prevent economic instability escalating into a crisis.

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Al Jazeera

IMF, Bangladesh reach preliminary deal for $4.5bn loan

Rising energy and food prices, sparked by the Russia-Ukraine war, and shrinking forex reserves have hit Bangladesh.

The Independent UK

IMF, Bangladesh reach preliminary deal for $4.5B in loans

The International Monetary Fund has reached a preliminary agreement with Bangladesh to provide $4.5 billion to help the country to weather disruptions caused by the war in Ukraine and manage risks from climate change

The Guardian - UK

Could Barbados blueprint be a Marshall Plan for the climate crisis?

Mia Mottley, PM of Barbados, who, at Cop27 called again for climate justice, is devising a debt relief and loan blueprint, targeting the IMF

The News Lens

Developing Asia Adapts to the Dollar’s Strength

A strong U.S. dollar will likely continue for the near future. Asian economies need to prepare for a rough 2023.

Reuters

COP27: What are they saying at the climate summit?

World leaders, policymakers and delegates from nearly 200 countries are at the COP27 U.N. climate summit in Egypt, where they hope to keep alive a goal to avert the worst impacts of climate change.

Reuters

Ukraine set to finalise IMF agreements after Nov. 11-17 fund mission

Ukraine is set to finalise new agreements with the International Monetary Fund after a new IMF mission from Nov. 11-17, Ukrainian central bank governor Andriy Pyshnyi said on Monday.

Asharq Al-Awsat

COP27... A Climate Summit with an Economic Spirit

The economy appears to be at the heart of problems and solutions to the world’s climate crisis as the COP27 UN Climate Change Conference got underway in Egypt’s Sharm el-Sheikh on Sunday. As the world rushed towards industrialization at the onset of the 20th century, it drove unwanted gases into…

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