Is the Sri Lankan Debt Crisis a Harbinger? Why U.S.-Chinese Tensions Put Developing Countries at Risk Foreign Affairs · Aug 5, 2022
How to prevent developing country debt crises Since the Latin American debt crisis of the 1980s, sovereign-debt crises have become a regular occurrence for emerging and developing economies. Today, Sri Lanka needs a bailout from the International Monetary Fund (IMF) after defaulting on its foreign debt in May, and a growing number of low-income countries are facing… Bangkok Post · Aug 4, 2022
IMF says it is working with Bangladesh on RST loan with 'safeguards' The International Monetary Fund said it would work with Bangladesh to design a loan program request in coming months that meets the country's economic and social dynamics and has "safeguards" in the event of a further deterioration in economic conditions. Reuters · Aug 3, 2022
Sri Lanka leader proposes 25-year plan for crisis-hit nation Sri Lanka’s new president says his government is preparing a national policy roadmap for the next 25 years that aims to cut public debt and turn the country into a competitive export economy as it seeks a way out of its worst economic disaster The Independent UK · Aug 3, 2022
Bangladesh seeking $2 Billion from World Bank, ADB - Bloomberg News Bangladesh is seeking $2 billion from the World Bank and the Asian Development Bank (ADB) amid efforts to bolster its foreign exchange reserves, Bloomberg News reported on Wednesday. Reuters · Aug 3, 2022
War is stopping Ukraine from paying its debts -- here's how international powers can continue to support its recovery Ukraine is burning through money fast. The invasion by Russia has been costly for the country. According to the International Monetary Fund, Ukraine’s GDP could shrink by 35% as a result of the war. The country’s international grain exports have been severely hampered, with a recent deal to restart exports… The Conversation · Aug 2, 2022
TNSC recommends exporters refocus on regional markets Thai exporters have been warned to brace for the impact of China's economic uncertainties in the second half of the year on top of the looming global recession, runaway inflation and energy crisis. Bangkok Post · Aug 1, 2022
Food prices soaring in developing world amid Ukraine crisis, World Bank finds Lebanon is worst-hit by food inflation after food grain store explosion in Beirut in 2020 The Guardian - UK · Aug 1, 2022
GST levies on food items won’t burden poor, says Nirmala Sitharaman Finance Minister says GST Council is a constitutional body where Modi doesn’t take decisions, but State Finance Ministers take them The Hindu · Aug 1, 2022
Lebanon’s Ordeal: From Civil Strife to Economic Collapse Lebanon marks the second anniversary on Thursday of the Beirut port explosion that killed 215 people and is widely seen as a symbol of corruption and bad governance by the sectarian ruling elite. Here are some of the main crises over the past two decades in a country that has… Asharq Al-Awsat · Aug 1, 2022
Saudi Arabia Posts Highest Economic Growth Since 2011 The Saudi General Authority for Statistics (GASTAT) revealed on Sunday that the Kingdom’s real gross domestic product (GDP) jumped by 11.8 % year-on-year (YoY) in the second quarter of 2022. The announcement countered International Monetary Fund projections that the economy will grow at 7.6% this year, the highest growth among… Asharq Al-Awsat · Aug 1, 2022
Lebanon's ordeal: from civil strife to economic collapse Lebanon marks the second anniversary on Thursday of the Beirut port explosion that killed 215 people and is widely seen as a symbol of corruption and bad governance by the sectarian ruling elite. Reuters · Aug 1, 2022
IMF warns of seven factors which leave global economy at risk of perfect storm The International Monetary Fund has warned that seven factors are undermining growth expectations, suggesting that the worst-case scenario would cut global economic growth to 2 percent in 2023, the lowest level in over five decades. Radio France Internationale · Jul 31, 2022
Wickremesinghe urges parties to find ways to repay loans as unrest delayed IMF- Sri Lanka deal Sri Lanka's President Ranil Wickremesinghe on Sunday said that the unrest had delayed a possible deal with the International Monetary Fund to help pull the bankrupt nation out of its economic crisis and urged political parties must work together on finding permanent solutions to the issues faced by Sri Lanka.… Dynamite News · Jul 31, 2022
The Independent UK · Jul 30, 2022 Pakistan military chief seeks US help on release of IMF loan Pakistani officials say the country's powerful army chief has contacted Washington, seeking U.S. help in securing an early release of a crucial $1.7 billion installment from the International Monetary Fund to Pakistan
Reuters · Jul 30, 2022 Sri Lanka's Wickremesinghe says IMF accord pushed back after unrest - AP Sri Lankan President Ranil Wickremesinghe said on Saturday that an agreement with the International Monetary Fund has been pushed back to September due to the unrest over the past weeks, the Associated Press reported.
Asharq Al-Awsat · Jul 30, 2022 Lebanon Speaker Says No Presidential Vote Without IMF Laws Lebanese Parliament Speaker Nabih Berri said on Saturday he would not call for a session to elect a new president until the legislature passes reforms that are preconditions for an International Monetary Fund (IMF) bailout. An IMF deal is seen as the only way for Lebanon to recover from its…
Reuters · Jul 30, 2022 Lebanon parliament speaker says no presidential vote without IMF laws Lebanese parliament speaker Nabih Berri said on Saturday he would not call for a session to elect a new president until the legislature passes reforms that are preconditions for an International Monetary Fund (IMF) bailout.
The Independent UK · Jul 30, 2022 Sri Lanka leader says IMF agreement pushed back after unrest Sri Lanka’s president says an agreement with the International Monetary Fund to help pull the bankrupt nation out of its economic crisis has been pushed back to September because of unrest over the past weeks
Reuters · Jul 30, 2022 Zambia debt relief pledge clears way for $1.4 billion programme, says IMF Zambia's creditors pledged to negotiate a restructuring of the country's debts on Saturday, a move IMF managing director Kristalina Georgieva welcomed as "clearing the way" for a $1.4 billion Fund programme.
Bangkok Post · Jul 29, 2022 Healthy earnings, less aggressive Fed lift shares Recap: European and US stocks advanced yesterday amid positive corporate earnings reports and the prospect of less aggressive rate hikes from the US Federal Reserve. Hong Kong and Chinese markets pulled back as tech stocks corrected and the Chinese government signalled limited new stimulus ahead.
Foreign Policy · Jul 29, 2022 The International Monetary Fund: Holy Grail or Poisoned Chalice? As the global south struggles to grapple with its debt pandemic, experts question the efficacy of the IMF’s conditional lending.
Reuters · Jul 29, 2022 Sri Lanka resumes bailout discussions with IMF, finance ministry says Sri Lanka has resumed technical discussions with the International Monetary Fund on a potential bailout after a new government took office, the finance ministry said on Friday.
The Times of India · Jul 29, 2022 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.
Bangkok Post · Jul 29, 2022 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.