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The Latest Breaking News from the International Monetary Fund

Paris summit aims to shake up the financial system. It will test leaders' resolve on climate

Heads of state, finance leaders and activists are converging in Paris to seek ways to overhaul the International Monetary Fund and World Bank and usher the global development banks into a post-pandemic world with a rapidly changing climate

The Independent UK

Gold fraud: the Goldenberg scam that cost Kenya billions of dollars in the 1990s – and no one was jailed

The Goldenberg scandal in the early 1990s is Kenya’s largest documented gold fraud. The scheme involved Goldenberg International Limited, which pretended to export gold and diamonds, and in exchange received substantial subsidies from the government for “earning” foreign exchange. Kenyan businessman Kamlesh Pattni – who was at the centre of…

The Conversation

IMF head welcomes Europe's interest rate hikes in campaign against inflation

The head of the International Monetary Fund has praised the European Central Bank’s decision to raise interest rate for the eighth time in a row

The Independent UK

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IMF slams new Pakistan budget proposal, says government failing to implement a more fair tax system

The International Monetary Fund has slammed Pakistan’s government over its proposal for the new annual budget, saying it failed to implement a more fair tax system in the draft

The Independent UK

Time for an Asian Monetary Fund

Although the International Monetary Fund (IMF) has long been the most prominent global institution for promoting financial stability, calls to create regional alternatives are growing louder.

Bangkok Post

Why is the EU offering Tunisia a financial assistance package?

The EU hopes to stem the number of refugees departing for Europe from the country’s coast during an economic crisis.

Al Jazeera

Pakistan's Prime Minister hopeful for deal with IMF this month

Pakistani Prime Minister Shehbaz Sharif is hopeful of finalising a deal with the International Monetary Fund (IMF) this month, he said in an interview with Turkish news agency Anadolu.

Reuters

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Italy PM hopes trip to Tunisia may unblock IMF loan, sources say

Italian Prime Minister Giorgia Meloni will travel to Tunisia on Tuesday looking to make progress in unblocking loans from the International Monetary Fund (IMF) for the north African state, two diplomatic sources told Reuters.

Reuters

IMF says Sri Lanka's economic recovery shows signs of improvement but challenges remain

The International Monetary Fund says that debt-stricken Sri Lanka, which declared bankruptcy last year, is showing signs of economic improvement but its recovery still faces challenges

The Independent UK

Despair in Ettadhamen: The harsh reality of Tunisia’s economy

‘This … system, goes back to the beys who needed to keep their courtiers happy to maintain their rule’, analyst says.

Al Jazeera

Ghana and the IMF have struck a deal, but hard choices lie ahead

In mid-May 2023 the International Monetary Fund (IMF) finally approved a US$3 billion 36-month arrangement with Ghana. It immediately disbursed the first tranche of US$600 million.

The Conversation

IMF reaches staff agreement on Ukraine loan review; will enable $900 million disbursement

The International Monetary Fund said on Tuesday that it has reached a staff-level agreement with Ukraine for the first review of the war-torn country's $15.6 billion IMF loan program, which would allow for a $900 million disbursement to Kyiv upon approval by the IMF Executive Board.

Reuters

A world of debt is in need of more flexibility

Recent headlines seem to augur a global debt crisis. The US is teetering on the precipice of a self-inflicted default. Egypt, Ghana, Pakistan, and other countries face grave financial difficulties. And the Chinese are delaying or hampering multilateral efforts to restructure low- and middle-income countries' debt.

Bangkok Post

Pakistan to share budget details with IMF to unlock funds - finance minister

Pakistan's Finance Minister Ishaq Dar said on Sunday the country will share its upcoming budget details with the International Monetary Fund (IMF) in order to unlock stalled funds.

Reuters

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The Conversation

Improving how the IMF does business could help billions of people worldwide — by giving governments money to spend on public goods and increasing accountability. Podcast

In countries across the Global South, the launch of IMF programs often sparks considerable concern. This is because of the IMF’s reputation: during the 1980s, many nations in Africa, Asia and Latin America turned to the IMF seeking loans to mitigate economic challenges. These loans were accompanied by stringent conditions,…

Reuters

Bangladesh PM says 'very much sure' country able to repay IMF loan

The Prime Minister of Bangladesh Sheikh Hasina said on Wednesday she is confident that the country will be able to meet its commitments to the International Monetary Fund.

Bangkok Post

Don't ignore the climate elephant in the room

Now that the falsehoods and obfuscation of climate denialism have finally been silenced, addressing climate change has become the world's top priority. But time is running out, and the International Monetary Fund warns that any further delays in implementing policies to mitigate global warming will only add to the economic…

Al Jazeera

How inflation made West Africa’s prized jollof rice a pricey meal

Inflation driven by economic instability, fallout from war in Ukraine and COVID have made jollof rice an expensive meal.

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France 24

‘Ghana beyond aid’ no longer: West Africa’s former model student forced to turn to IMF

Formerly praised for its stability and good governance, Ghana has been facing a severe economic crisis since the onset of the Covid-19 pandemic and the war in Ukraine. To prevent Accra from defaulting on its debt, the International Monetary Fund (IMF) on Wednesday approved a $3 billion loan in exchange…

The Independent UK

Top Lebanese official in IMF talks calls for central bank head to resign amid corruption allegations

The Lebanese official heading talks with the International Monetary Fund to bailout Lebanon’s tanking economy has called for the country’s embattled central bank chief to resign

Bangkok Post

Creating pathways for Arab youth

Optimism can be difficult to muster at a time of heightened uncertainty and global turmoil. The 2022 ASDA'A BCW Arab Youth Survey, conducted only a few months after Russia's full-scale invasion of Ukraine and on the heels of the Covid-19 pandemic, reflected a darkening economic outlook.

Reuters

Pakistan's external financing requirements for IMF deal unchanged - IMF

Pakistan's external financing requirements have not been changed in talks with the International Monetary Fund (IMF) over bailout funds, the IMF Resident Representative in Pakistan said, denying local media reports that the Fund was seeking fresh financing.

Bangkok Post

Recovery unabated amid uncertainty

Asia and the Pacific remains a dynamic region despite the challenging year for the world economy.

Reuters

Paraguay presidential hopeful Santiago Pena seeks to be calm amid political storm

Paraguay's conservative ruling party presidential candidate Santiago Pena will need all the composure he has from a journey as a teenage father to the International Monetary Fund as he faces down an opposition challenge at the ballot box on Sunday.

Reuters

IMF approves immediate disbursement of about $153 million to Tanzania

The executive board of the International Monetary Fund on Monday approved the first review of Tanzania's three-year extended credit facility, allowing immediate disbursement of about $153 million in budgetary support, the IMF said in a statement.

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