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The Latest Breaking News from International Monetary Fund

IMF, World Bank warn of increasing risk of global recession

The heads of the International Monetary Fund and World Bank warned of a rising risk of a global recession as advanced economies slow and faster inflation forces the Federal Reserve to keep raising interest rates, adding to the debt pressures on developing nations.

Tribune News Service

World Bank's Malpass, IMF's Georgieva See Rising Risks of Global Recession

World Bank President David Malpass and International Monetary Fund Managing Director Kristalina Georgieva warned on Monday of a growing risk of global recession and said inflation remained a continuing problem after Russia's invasion of Ukraine. "There's a risk and real danger of a world recession next year," Malpass said in…

Asharq Al-Awsat

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

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Ghana and the IMF: debt restructuring must go hand-in-hand with managing finances better

Ghana is struggling with managing its debt, 20-year high inflation, a weak currency, and rising inequality. For example, inflation rose to 33.9% in August 2022 from 9.7% a year earlier, while the cedi has depreciated by 41% year-to-date against the US dollar. These vulnerabilities have been worsened by the aftershocks…

The Conversation

Cutting oil output risks global economy, warns US Treasury secretary

Janet Yellen’s comments come as figures show business activity declining across most UK regions

The Guardian - UK

IMF Provides Highest Financing to Arab Countries in Decades

Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF), said that the world was going through a delicate stage due to successive shocks and uncertainty in the global economic system. He underlined the need for international cooperation to face challenges, especially with…

Asharq Al-Awsat

IMF board approves review of Argentina's $44 billion loan program

The executive board of the International Monetary Fund (IMF) approved the second review for Argentina's $44 billion extended fund facility program, the lender said on Friday, noting the country's efforts to meet the established targets.

Reuters

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Asian shares fall as rate fears return

RECAP: Asian markets fell yesterday as optimism that had fuelled earlier buying gave way to nervousness ahead of a US jobs report that could determine Federal Reserve rate hike plans.

Bangkok Post

IMF board approves $1.3 billion in emergency funding for Ukraine

The International Monetary Fund said on Friday its executive board approved Ukraine's request for $1.3 billion in additional emergency funding to help sustain its economy as it battles Russia's invasion.

Reuters

IMF: Ghana talks constructive, more work needed on debt analysis

The International Monetary Fund said on Friday that talks with Ghana's government about a potential loan programme had been constructive but that more work was needed on a debt-sustainability analysis.

Reuters

Ukrainian parliament approves 2023 draft budget at first reading

Ukraine's parliament approved the 2023 draft budget at its first reading on Friday, a senior parliamentarian said.

Reuters

IMF Expects Yemen to Achieve 2% Economic Growth

The International Monetary Fund (IMF) mission expected that Yemen would achieve a modest economic growth of about two percent this year and 3.2 percent in 2023. However, the Fund called for more reforms, especially with regard to the customs dollar rate, support for the electricity sector, transparency in financial management,…

Asharq Al-Awsat

Lebanese banks to close ‘indefinitely’ as hold-ups continue

Lebanon’s banks have been in crisis for months as depositors demand access to their savings.

Al Jazeera

IMF warns of higher recession risk and darker global outlook

The International Monetary Fund is once again lowering its projections for global economic growth in 2023

The Independent UK

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Asharq Al-Awsat

Saudi Arabia Signs MoU with IMF to Establish Regional Office in Riyadh

Saudi Arabia concluded a memorandum of understanding with the International Monetary Fund (IMF) to establish a regional office in Riyadh, which would boost its presence in the region and provide its economic recommendations to the countries of the Gulf and the region. Saudi Minister of Finance Mohammed al-Jadaan signed the…

Reuters

IMF to consider $1.3 billion in emergency funding for Ukraine on Friday

The International Monetary Fund's (IMF) executive board will consider Ukraine's request for $1.3 billion in additional emergency funding on Friday as Russia's war against the country continues, two sources familiar with the matter said.

Asharq Al-Awsat

IMF: 141 Million People Across Arab World Are Exposed to Food Insecurity

The International Monetary Fund said on Monday that up to 20 countries, many in Africa, could need emergency assistance to cope with the global food crisis. IMF Managing Director Kristalina Georgieva, speaking at a conference in Saudi Arabia, also said that 141 million people across the Arab world are exposed…

Reuters

More than 140 million in Arab world exposed to food insecurity - IMF's Georgieva

The managing director of the International Monetary Fund, Kristalina Georgieva, said on Monday that 48 countries are exposed to the global food crisis, and half of them are vulnerable.

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The Conversation

Mini-budget: lessons from the UK's long history of economic crises

It was a mini-budget with a major impact. Shortly after the UK chancellor announced his plans for a “new era” full of tax cuts, there were dramatic falls in the pound, a nervous response from mortgage lenders and an urgent intervention from the Bank of England.

Reuters

Forty-one million in Arab world exposed to food insecurity - IMF's Georgieva

The managing director of the International Monetary Fund, Kristalina Georgieva, said on Monday that 48 countries are exposed to the global food crisis, and half of them are vulnerable.

Reuters

Tunisian labour union warns of strikes as IMF talks loom

Tunisia's powerful UGTT labour union has no deal with the government on reforming subsidies and publicly owned companies and will lead street protests over any "painful" changes, it said on Monday, potentially complicating foreign bailout talks.

Asharq Al-Awsat

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…

The Independent UK

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 Hindu

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 National (Scotland)

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…

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