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The Latest Breaking News from International Monetary Fund

Kwasi Kwarteng: only a desperate prime minister sacks a chancellor

Having seen her government’s popularity plummet just weeks after taking office, British prime minister Liz Truss has sacked her chancellor of the exchequer, Kwasi Kwarteng in a bid to save herself. Kwarteng, widely seen as Truss’s right-hand man, was rushed back to London from New York for the occasion, where…

The Conversation

IMF countries strengthen calls to end Ukraine war, Russia blocks communique

International Monetary Fund member countries on Friday issued a near-unanimous call for Russia to end its war in Ukraine, the IMF's steering committee chair said, calling the conflict the single biggest factor fueling inflation and slowing the global economy.

Reuters

Ukraine's Marchenko to chair IMF, World Bank governing boards in 2023

The shareholders of the International Monetary Fund and World Bank on Friday selected Ukrainian Finance Minister Serhiy Marchenko as the next rotating chair of the boards of governors of both institutions in 2023.

Reuters

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Liz Truss U-turns on corporation tax after Kwasi Kwarteng sacked

Liz Truss tore up the mini budget with an £18 billion corporation tax U-turn after sacking Kwasi Kwarteng as Chancellor on Friday. The reversal came as the prime minister held a press conference after a tumultuous day where she sacked Mr Kwarteng, one of her closest allies, and appointed Jeremy…

Evening Standard

Explained: Why IMF called India's direct benefit transfer scheme a 'logistical marvel'

NEW DELHI: The International Monetary Fund (IMF) has called the deployment of India's direct benefit transfer (DBT) scheme as a 'logistical marvel' which has reached hundreds of millions of people.

The Times of India

Kwasi Kwarteng flies back to London after days of economic chaos caused by Tory mini-budget

The Chancellor cut short a visit to Washington amid speculation Conservative MPs are already plotting to replace him and Liz Truss.

Daily Record

IMF Sees Middle East Growth at 5%

The Middle East is projected to grow at five percent this year, up from 4.1 percent in 2021.

Asharq Al-Awsat

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Kwasi Kwarteng dashes home early from US for tax U-turn talks as minister insists chancellor’s job is safe

Chancellor leaves IMF meetings early but trade minister Greg Hands downplays significance

The Independent UK

Kwasi Kwarteng dashes home early from US amid tax U-turn chaos

Chancellor cuts short International Monetary Fund meetings after insisting his job is safe, as Liz Truss appears to take reins on corporation tax cut

The Guardian - UK

Protesters outside IMF, World Bank meeting venues demand urgent climate action

Dozens of protesters demonstrated outside the annual meetings of the International Monetary Fund and the World Bank in Washington D.C. on Thursday, expressing opposition to funding of fossil fuels and demanding urgent action to tackle climate change.

Reuters

IMF meetings marked by push to end Ukraine war, Spain's finance minister says

International Monetary Fund members are calling more strongly for an end to the war in Ukraine, which is having a sharply negative impact on global economic growth, Spanish Finance Minister Nadia Calvino told Reuters on Thursday.

Reuters

IMF projects Thai growth of 2.8%

The Thai economy is projected to continue its post-pandemic recovery with expansion of 2.8% this year and 3.7% in 2023, according to the International Monetary Fund (IMF).

Bangkok Post

Fetco chief condemns Fed policy of 'misguided' hikes

The global economy is on the verge of falling into recession next year as countries have taken the wrong currency management path in response to the US Federal Reserve's aggressive policy rate hikes, a Thai economist warns.

Bangkok Post

Kwasi Kwarteng says he's not resigning as Chancellor despite 'inevitable' U-turn reports

KWASI Kwarteng appeared not to rule out a U-turn on corporation tax amid growing pressure to abandon more elements of the mini-budget that have…

The National (Scotland)

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Manchester Evening News

Chancellor says 'let's see' on corporation tax U-turn despite growing pressure

Kwasi Kwarteng could not commit to, nor rule out, a u-turn on yet another policy from the recent mini-budget

The Independent UK

Chancellor says ‘let’s see’ on corporation tax U-turn amid growing pressure

Kwasi Kwarteng has said he is ‘totally focused’ on delivering the tax-cutting plans in the mini-budget

The Independent UK

‘Desperate’ Liz Truss set to U-turn on corporation tax this weekend

‘Don’t prolong the pain’: IMF suggests government should accept swift climbdown

Evening Standard

Kwasi Kwarteng- I am ‘absolutely 100 per cent not going anywhere’

The Chancellor has vowed he is “absolutely 100 per cent not going anywhere” as the Government came under pressure to U-turn over key parts of the mini-budget. Kwasi Kwarteng, who is in Washington to meet with the International Monetary Fund, said his “total focus is on delivering on the mini-budget”.…

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Wales Online

Pressure on Truss and Kwarteng to announce more U-turns as IMF hints at need for 'recalibration of policies'

IMF leaders also had a 'constructive' meeting with Kwarteng

Evening Standard

Chancellor Kwasi Kwarteng refuses to rule out corporation tax U-turn amid mini-budget mayhem

Kwasi Kwarteng refused on Thursday to rule out another humiliating U-turn - this time on corporation tax - and stressed he was not about to quit as Chancellor.

The Independent UK

IMF chief urges aggressive fight against soaring inflation

The managing director of the International Monetary Fund urged global policymakers to stop inflation from becoming “a runaway train″ at a time of extraordinary economic turmoil

The Independent UK

Expectations of imminent Truss U-turn on corporation tax

Rebuke for Kwasi Kwarteng’s budget from IMF boss in New York

Daily Mirror

Jacob Rees-Mogg slapped down by No10 and top expert for attacking Tories' budget watchdog

A top economist said Jacob Rees-Mogg was half-right about the government's Budget watchdog being inaccurate... because the economy is actually WORSE than it predicted

The Times of India

India’s economy faces significant external headwinds, IMF says

NEW DELHI: India’s economy faces notable risks from global developments, including aggressive central bank actions and the fallout of the prolonged war in Ukraine, according to the International Monetary Fund.

ABC News

Treasurer Jim Chalmers warns of US recession prior to meeting with G20 counterparts

Treasurer Jim Chalmers acknowledges the "deteriorating global economy and rising inflation" would put pressure on his upcoming budget, ruling out changes to legislated stage 3 tax cuts.

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