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The Latest Breaking News from International Monetary Fund

Pakistan army chief seeks assistance from US amid rising risk of debt default

NEW DELHI: In a bid to avert a default in debt payment, Pakistan army chief General Qamar Javed Bajwa has reached out to the United States seeking help in securing an early loan disbursal from the International Monetary Fund (IMF), a report by Nikkei Asia said on Friday.

The Times of India

IMF downgrades Asia Pacific forecast

The International Monetary Fund (IMF) has lowered its growth forecast for the Asia Pacific region this year to 4.2% -- 0.7 percentage point lower than it expected in April, and well below the region’s 6.5% growth in 2021.

Bangkok Post

Explainer-Blood, treasure and chaos: the cost of Russia's war in Ukraine

Russia's Feb. 24 invasion of Ukraine has left tens of thousands of dead, displaced millions and sown economic strife across the world.

Reuters

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Fed's rate rises might have way to go yet

By the time this article is published, readers will know how much the US Fed funds rate has been raised for the fourth time this year. It does not really matter whether the rate is raised by 0.75% or 1% this time because the Fed will need to keep raising…

Bangkok Post

U.S. Treasury official says IMF SDR lending pledges reach about $58 billion

Pledges from wealthier International Monetary Fund members to lend IMF Special Drawing Rights reserves to poorer countries through two IMF trust funds have reached about $58 billion, U.S. Treasury acting international affairs undersecretary Andy Baukol said on Wednesday.

Reuters

IMF says Sri Lanka needs to talk with China about debt restructuring

The International Monetary Fund (IMF) said Sri Lanka should kick off debt restructuring talks with its bilateral lender China, while the island state's government seeks a financing loan from the Washington-based fund.

Reuters

Egypt Says Negotiations with IMF Ongoing

Egypt and the International Monetary Fund are working to "resolve differences" in ongoing negotiations, Finance Minister Mohamed Maiit told Al-Arabiya on Wednesday. The lender had said on Tuesday in an evaluation of a $5.2 billion stand-by arrangement agreed with Egypt in 2020 that the country needed to make "decisive progress"…

Asharq Al-Awsat

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IMF Raises Saudi Economic Growth Forecasts

The International Monetary Fund (IMF) has raised its 2023 growth forecasts for Saudi Arabia’s economy by 0.1% from April to 3.7%. It maintained its projections for the Kingdom’s economic growth during 2022 at 7.6% compared to 4.4% in January. This was revealed Tuesday in its World Economic Outlook report for…

Asharq Al-Awsat

Now it’s Bangladesh’s turn to ask the IMF for a loan

The finance minister told a local newspaper that while the country has asked for a loan, it is ‘in no way in trouble’.

Al Jazeera

Ukraine aims for $15-20 billion IMF loan by year-end -central bank governor

Ukraine aims to strike a deal for a $15-$20 billion programme with the International Monetary Fund before year-end to help shore up its war-torn economy, the country's central bank governor Kyrylo Shevchenko told Reuters.

Reuters

Pakistan court hands power to Imran Khan ally in key Punjab state

Supreme Court says Khan-backed candidate, Chaudhry Parvez Elahi, was wrongfully denied victory in a vote last week.

Al Jazeera

Russia-Ukraine war: List of key events, day 154

As the Russia-Ukraine war enters its 154th day, we take a look at the main developments.

Al Jazeera

4 Business Services Stocks to Buy Amid Escalating Economic Headwinds

The International Monetary Fund recently cut its global growth projections for this year and the next amid the deteriorating macro backdrop with the relentless rise in inflation and the geopolitical war. However, despite the economic uncertainties, we think business services stocks Civeo (CVEO), ARC Document (ARC), TriNet Group (TNET), and…

StockNews.com

Pakistan court hands power to ousted premier Khan's ally in key province

Pakistan’s top court on Tuesday ruled to hand control of the country's most populous province, Punjab, to a candidate backed by ousted Prime Minister Imran Khan, triggering fresh political uncertainty in the South Asian nation amidst a crippling economic crisis.

Reuters

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Reuters

IMF says not holding active discussions on potential new SDR issue

A new issue of International Monetary Fund Special Drawing Rights reserves is among options that could be considered to aid countries struggling with spillovers from the Ukraine war but there are no active discussions on the matter, IMF officials said on Tuesday.

Asharq Al-Awsat

IMF Cuts Global Growth Outlook, Warns High Inflation Threatens Recession

The International Monetary Fund cut global growth forecasts again on Tuesday, warning that downside risks from high inflation and the Ukraine war were materializing and could push the world economy to the brink of recession if left unchecked. Global real GDP growth will slow to 3.2% in 2022 from a…

Wales Online

World is 'teetering on the edge of recession' as UK set to be weakest G7 economy

The outlook from the IMF isn't rosy

Reuters

Analysis: Tunisia's Saied savours near total power but faces looming economic tests

By ramming through his new constitution, President Kais Saied has cemented his role as master of Tunisia, heralding a new political era after a brief, difficult experiment with democracy.

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The National (Scotland)

UK growth forecast downgraded AGAIN as IMF makes gloomy prediction

THE UK’s economic growth is slowing even more due to rampant inflation and it is set to be the weakest economy among the G7 nations next year, the…

The Times of India

IMF cuts India's GDP forecast for FY23 to 7.4%

NEW DELHI: The International Monetary Fund (IMF) on Tuesday slashed India's economic outlook for financial year 2022-23 to 7.4%. The outlook has been revised down by 0.8 percentage point.

Reuters

Lebanon parliament passes amendments to banking secrecy law - Reuters witness

Lebanon's parliament on Tuesday passed long-awaited amendments to a banking secrecy law, according to a Reuters witness, in the first step towards reforms required by the International Monetary Fund (IMF).

The Guardian - UK

There is a global debt crisis coming – and it won’t stop at Sri Lanka

Foreign capital flees poorer countries at the first sign of instability. The pandemic and Ukraine war ensure there is plenty of that around, says economist Jayati Ghosh

Bangkok Post

Why Sri Lanka imploded so catastrophically

As Sri Lanka's economy unravels before our eyes, one must ask how this could happen in a country historically known for its high standard of living and stable economy. Sri Lanka's achievements go back decades, giving it a per capita GDP that is 70% higher than India's, and a life…

Reuters

How crisis unfolded in Sri Lanka

A deepening economic crisis in Sri Lanka sparked mass protests that forced President Gotabaya Rajapaksa to flee the country, leaving his successor, Ranil Wickremesinghe, to declare a state of emergency while seeking a bailout from the International Monetary Fund.

The Hindu

‘Advantage New Delhi’ in Sri Lanka’s India lifeline

There is much potential in the humanitarian aid link now to deepen trade and investment linkages

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