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The Latest Breaking News from Kristalina Georgieva

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)

G20 meets amid Ukraine war, US-Saudi tensions

Washington (AFP) - The G20 held talks in Washington on Thursday, but Russia's presence in the club made any consensus unlikely despite the multiple crises facing the world.

AFP

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

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

The Independent UK

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Don’t wait for ‘inevitable’ U-turn on mini-Budget, George Osborne tells Liz Truss

Chances needed now, suggests former chancellor – as Priti Patel says ‘market forces’ could force reversal

The Independent UK

At IMF, UK gets lecture on having 'coherent' fiscal policy

Washington (AFP) - Britain has had its knuckles rapped over its controversial debt-fueled budget at the IMF's annual meetings, with the crisis lender's chief urging London on Thursday to maintain "coherent and consistent" policies.

AFP

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

Wales Online

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.

Evening Standard

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Expectations of imminent Truss U-turn on corporation tax

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

The Independent UK

G20 to meet under Ukraine war, inflation cloud

Washington (AFP) - A divided G20 holds talks on Thursday under the shadow of multiple crises, from Russia's war in Ukraine to a global economic slowdown, on top of soaring inflation and climate change.

AFP

War-torn Ukraine needs at least $3 billion a month in 2023, IMF says

Ukraine will need at least $3 billion a month next year to finance its wartime economy, which means allies will have to step up with more support, the head of the International Monetary Fund said.

Tribune News Service

Ukraine's Zelenskiy appeals for $55 billion to cover budget gap and reconstruction

Ukrainian President Volodymyr Zelenskiy on Wednesday appealed to international donors to increase their financial support, saying more money was needed to rebuild schools and homes destroyed by months of Russian bombardment.

Reuters

IMF Confirms Saudi Economy’s Growth Forecast in Coming Years

The International Monetary Fund (IMF) confirmed its economic growth forecast for Saudi Arabia for the current year at 7.6 percent, the exact forecasts for July and April. Earlier, the Fund increased its expectations twice for the Saudi economy in 2022, making the Kingdom the only country among the G20 whose…

Asharq Al-Awsat

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

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The Guardian - UK

Kwasi Kwarteng buckles up for an awkward first date with the IMF

The chancellor is bound for Washington for talks with the organisation that blasted his mini-budget

AFP

IMF chief says world better prepared for this crisis

Washington (AFP) - The global economy is at a difficult crossroads, buffeted by multiple shocks including soaring inflation, rising interest rates and a growing threat of broad debt crisis, but IMF Managing Director Kristalina Georgieva told AFP that institutions are better prepared to weather this storm.

AFP

IMF chief urges action as global recession risks rise

Washington (AFP) - IMF chief Kristalina Georgieva urged global policymakers Thursday to take concerted action to avoid a "dangerous 'new normal,'" as the risks of a worldwide recession are driven ever higher by repeated economic shocks.

The Independent UK

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

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The Guardian - UK

IMF chief warns world heading towards age of greater instability

Kristalina Georgieva points to ‘fundamental shift’, with fragile global ties and more frequent natural disasters

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…

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.

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.

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…

Asharq Al-Awsat

IMF Says Ukraine War Prompts Worst Global Food Crisis Since at Least 2008

The Ukraine war's disruptions to grain and fertilizer flows have prompted the worst food security crisis since at least the one following the 2007-2008 global financial meltdown, with some 345 million people now facing life-threatening shortages, the International Monetary Fund said on Friday. A new IMF research paper estimates that…

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