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The Latest Breaking News from International Monetary Fund

IMF board releases over $1.1 billion in Pakistan bailout funds

The International Monetary Fund (IMF) board approved the seventh and eighth reviews of Pakistan's bailout programme, allowing for a release of over $1.1 billion to the cash-strapped economy, the fund and the government said on Monday.

Reuters

International aid reaches Pakistan, where floods have claimed more than 1,000 lives

International aid was reaching Pakistan on Monday as evacuations were underway for widespread flooding that have claimed more than 1,000 lives this summer.

WEKU

Sri Lanka's president to cut spending in interim budget

Sri Lanka's president is set to slash expenditure when he presents an interim budget on Tuesday to see the crisis-ridden country through the rest of the year, amid discussions with the International Monetary Fund on a bailout package.

Reuters

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Pakistan foreign minister says help needed after 'overwhelming' floods

Pakistan needs financial help to deal with "overwhelming" floods, its foreign minister said on Sunday, adding that he hoped financial institutions such as the International Monetary Fund would take the economic fallout into account.

Reuters

IMF: Saudi Arabia Reaping Benefits of Transparent Economic, Financial Policies

Saudi Arabia is reaping the fruits of success after implementing transparent economic and financial policies, good management of the coronavirus crisis and carrying out economic reforms that have led to increased job opportunities and continued improvement in living standards, revealed IMF Mission Chief for Saudi Arabia Amine Mati. The Kingdom’s…

Asharq Al-Awsat

Strangling Tunisia’s democracy

Kais Saied is a populist zealot who promises El Dorado even as he leads his country into a quagmire

The Hindu

IMF team holds talks with crisis-hit Sri Lanka on debt restructuring

An International Monetary Fund (IMF) team met Sri Lanka's president on Wednesday for talks on a bailout, including restructuring debt of about $29 billion, amid the nation's worst financial crisis in more than seven decades.

Reuters

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China’s economy is losing momentum. What is happening and why does it matter for Australia?

Clouds are gathering over the economic powerhouse as Covid lockdowns, a distressed property market and population changes take a toll

The Guardian - AU

Chinese satellite tracking ship leaves Sri Lanka after controversial visit

COLOMBO: A high-tech Chinese research ship docked at the strategically important Hambantota port departed from Sri Lankan waters on Monday after a controversial six-day visit.

The Times of India

Want permanent peace with India: Pakistan PM Shehbaz Sharif

Pakistan PM Shehbaz Sharif says, ‘War never an option to resolve Kashmir issue.’

The Hindu

IMF fees on war-torn countries closer to elimination

The International Monetary Fund is facing pressure to eliminate, or at least, reevaluate how it imposes fees on loans it disperses to needy countries like war-torn Ukraine — which is one of the fund’s biggest borrowers

The Independent UK

IMF eyes creditor assurances as it prepares Sri Lanka visit

The International Monetary Fund said it will need "adequate assurances" from Sri Lanka's creditors for a new program as it prepares a visit to Colombo later this month.

Reuters

Analysis-Years of political crises in Peru are finally hitting its economy

Since 2011, Peruvians have lived under seven presidents and seen four ex-leaders detained or wanted on corruption allegations. Yet, in the same period Peru has held onto the unlikely title of the fastest growing major economy in Latin America.

Reuters

Sri Lanka hopes to reach initial agreement with IMF for help

Sri Lanka’s central bank chief says he is hopeful the crisis-ridden island nation can reach a preliminary agreement that could lead to a bailout package with the International Monetary Fund when officials from the financial institution visit Sri Lanka later this month

The Independent UK

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Asharq Al-Awsat

Egypt Says Central Bank Governor Resigns

President Abdel Fattah el-Sisi on Wednesday accepted the resignation of central bank governor Tarek Amer and named him a presidential adviser, the Egyptian leader' office said in a statement. The brief statement offered no reasons for Amer's resignation. He had been appointed as governor of the central bank in November…

Reuters

Analysis-As economy wilts, Argentina's Massa seeks to sow hope with farm chiefs

The "superminister" tasked with rescuing Argentina's crisis-racked economy needs cash now, and so just days into the job he has launched a charm offensive to win over farm industry titans to access crucial debt forgiveness ahead of a looming deadline.

The Times of India

IMF money to arrive in Pakistan by August-end: Report

ISLAMABAD: The IMF's executive board will meet on August 29 to approve a bailout package for cash-strapped Pakistan within this month, including the pending disbursement of about $1.18 billion, a media report said on Saturday.

Asharq Al-Awsat

Tunisian Govt, Unions Agree to Talks on IMF Economic Reforms

Tunisia's government and both its main labor and commerce unions agreed on Friday to start talks on Monday over economic reforms required by the International Monetary Fund (IMF) for a rescue program. State news agency TAP reported that Prime Minister Najla Bouden, UGTT labor union chief Noureddine Taboubi and UTICA…

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Reuters

Tunisian government, unions agree to talks on IMF reform programme

Tunisia's government and both its main labour and commerce unions agreed on Friday to start talks on Monday over economic reforms required by the International Monetary Fund (IMF) for a rescue programme.

The Conversation

When the IMF comes to town: why they visit and what to watch out for

In most rich countries the news that a mission from the International Monetary Fund (IMF) is coming to visit is met with indifference. But, in most African countries the news can cause great consternation.

The Hindu

Navigating Sri Lanka’s rocky road to recovery

Focusing on smarter policymaking would ensure a smoother path ahead

Reuters

Ukraine seeks new IMF programme, hopes aid arrives in Nov-Dec - PM

Ukraine has formally requested a new programme from the International Monetary Fund and hopes to receive aid under the programme from November to December, Ukrainian Prime Minister Denys Shmygal said on Monday.

The Hindu

Indian Oil Corporation to expand operations in Sri Lanka

The IOC would invest in storage tanks and other equipment while the dealers are expected to have the land and bear other infrastructure costs, Lanka IOC Managing Director Manoj Gupta said.

Asharq Al-Awsat

Oxford Economics Predicts Saudi Economy to Cross $1 Trln Mark in 2022

Oxford Economics has predicted that the Saudi economy will cross the trillion-dollar mark for the first time this year. The leader in global economic forecasting and econometric analysis pointed out that the growth rate of Saudi Arabia's national product will reach 7.5 % during 2022. The International Monetary Fund has…

Bangkok Post

Sri Lanka syndrome: Is Bangladesh out of danger?

With global inflation rising and the fear of fuel and food crises looming large, clouds are gathering on the economic horizon of South Asian countries. Sri Lanka in particular remains mired in a crisis driven by a mix of high indebtedness, soaring inflation and poor economic management.

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