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The Latest Breaking News from International Monetary Fund

IMF urges Kwasi Kwarteng to change course in extraordinary statement

THERE is international pressure on Chancellor Kwasi Kwarteng to change course following his mini budget announcement.

The National (Scotland)

Keir Starmer demands Tories respond to 'mess' of economy as Brits 'very, very worried'

The Labour leader said the Government needed to act following a 'very serious' warning from the International Monetary Fund about the Chancellor's tax cutting bonanza

Daily Mirror

Truss ‘standing by Kwarteng’ as Treasury defends plans despite market turmoil – as it happened

No 10 says PM has faith in chancellor, as Treasury minister says tax cuts are the ‘right plan’

The Guardian - UK

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FTSE 100 Live: Bank of England intervenes to calm UK debt market; London stocks fall

The Bank of England intervened to calm the fraught conditions in UK debt markets by pledging to buy long-dated gilts and suspending plans to sell its existing holdings.

Evening Standard

London politics LIVE: Treasury minister says ‘we’ll press on with tax cuts’ as Tory backlash grows amid markets turmoil

Tory MP slams ‘inept madness’ in Chancellor’s mini-Budget - but Treasury minister rejects calls for U-turn

Evening Standard

What's happening with the British pound and what does it mean for Australia's economy?

With the UK government fighting off fears of a recession, the British pound tumbled against the US dollar this week. Here's why stock markets are concerned and what it means for Australia.

ABC News

Pound – live: Calls for Truss to ‘come out of hiding’ to fix ‘economic disaster’

Bank of England launches emergency action after pound falls

The Independent UK

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International Monetary Fund makes extraordinary intervention as it urges Chancellor to change course

Kwasi Kwarteng has been urged to 're-evaluate the tax measures' outlined in last week's mini-budget

Wales Online

IMF urges UK government to reconsider tax-cutting plans

International Monetary Fund says measures should target households worst affected by energy crisis and inflation

The Guardian - UK

IMF urges caution as oil-rich Guyana's economic growth nears 60%

Guyana's economic growth could reach close to 60% this year, the International Monetary Fund said in a statement on Tuesday, urging cautious policies even as the tiny South American nation benefits from surging oil production.

Reuters

Sri Lanka aims to have $2.9 billion IMF loan finalised in December - sources

Sri Lanka expects the International Monetary Fund board to approve a $2.9 billion loan by year-end, officials from the country's central bank told investors during a virtual presentation on Friday, sources participating in the event said.

Reuters

Calls in Lebanon’s Parliament to Reach Solution with IMF

Chairman of the Finance and Budget Committee at the Lebanese parliament MP Ibrahim Kanaan called for holding constructive dialogue with the international community to reach an agreement with the International Monetary Fund (IMF) that takes into consideration the economic situation in Lebanon. He slammed the fees included in the country’s…

Asharq Al-Awsat

Pakistan PM says ‘all hell will break loose’ without debt relief

As Pakistan reels under unprecedented flood crisis, Shehbaz Sharif appeals for debt relief and more global aid.

Al Jazeera

Inflation, unrest challenge Bangladesh's 'miracle economy'

Bangladesh's economic miracle is under severe strain as fuel price hikes amplify public frustrations over rising costs for food and other necessities

The Independent UK

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Reuters

IMF's board seen backing 'food shock window,' aiding Ukraine and others

The International Monetary Fund's board is expected to approve a new "food shock window" in the next few weeks that will allow the global lender to provide emergency funding to Ukraine, the head of the fund's European department said on Thursday.

The Independent UK

IMF criticizes Lebanese government over slow reforms

The International Monetary Fund says the Lebanese government’s slowness to implement desperately-needed reforms was exacerbating the country’s economic meltdown

Asharq Al-Awsat

IMF Criticizes Lebanese Government over Slow Reforms

The International Monetary Fund on Wednesday said the Lebanese government's slowness to implement desperately-needed reforms was exacerbating the country's economic meltdown, even as officials met to discuss an urgent and long-delayed bailout. The IMF statement followed a three-day visit to Beirut of the fund's representatives to discuss with Lebanese officials…

Reuters

Lebanon's progress in implementing reforms remains very slow - IMF

Lebanon's progress in implementing reforms required to unlock relief funds from the International Monetary Fund (IMF) remains very slow, the IMF said in a statement on Wednesday.

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Reuters

On the run, Lebanese woman who stole own savings says she's not the criminal

On the run from authorities after forcing a bank to release her family savings at gunpoint to treat her cancer-stricken sister, 28-year-old Lebanese interior designer Sali Hafiz insists she is not the criminal.

Asharq Al-Awsat

IMF Adamant on Linking Agreement with Lebanon to Reform Laws

Lebanese caretaker Economy Minister Amin Salam affirmed on Tuesday that the International Monetary Fund (IMF) delegation visiting Beirut this week carries a very clear message stressing an urgency that Lebanon approves and passes reform laws. “The IMF carries a very clear message, which is the urgency in approving these laws;…

Reuters

Russia unable to veto work underway in multilateral bodies like G20, IMF - Treasury

Russia still belongs to the International Monetary Fund and the Group of 20 economies, but has been unable to veto work being done at such multilateral bodies in response to Russia's invasion of Ukraine, a senior U.S. official said on Tuesday.

Reuters

Exclusive-Ukraine calls for bespoke IMF and World Bank programmes

Ukraine will push for unprecedented and bespoke International Monetary Fund and World Bank packages worth tens of billions of dollars in the coming weeks to shore up its war-ravaged finances, the country's top debt management chief told Reuters.

The Independent UK

Lebanon aims to adopt long-delayed IMF reforms by October

Lebanon's caretaker economy minister says the crisis-hit country hopes to adopt key but long-delayed reforms demanded by the International Monetary Fund for an economic bailout before the end of next month if there is “political will.”

Reuters

U.S. Treasury official criticizes China's 'unconventional' debt practices

A top adviser to U.S. Treasury Secretary Janet Yellen warned on Tuesday that China's foot-dragging on debt relief could burden dozens of low- and middle-income countries with years of debt servicing problems, lower growth and underinvestment.

Reuters

IMF's Georgieva: 'excellent' meeting with Argentina's president

International Monetary Fund (IMF) chief Kristalina Georgieva said on Monday she had an "excellent" meeting with Argentina's President Alberto Fernandez in New York.

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