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UNBELIEVABLE: 55 | History Defined

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

IMF hoping for board meeting on Pakistan before current program expires

The International Monetary Fund (IMF) remains in touch with Pakistan's authorities in order to pave the way for a board meeting before a financing program expires at the end of June, the IMF mission chief for Pakistan said.

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

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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

Terrible week for Sunak and Hunt puts election victory all but out of reach

Praise from the IMF and optimism on inflation have given way to echoes of last autumn’s turmoil

The Guardian - UK

Data | Exports and imports shrink across many nations for most items in 2023

India’s exports and imports further weakened in April, 2023, in continuation of the declining trend that has been observed since June, 2022.

The Hindu

Argentina VP says IMF hinders growth in Revolution Day speech

Argentine Vice President Cristina Fernandez de Kirchner slammed the International Monetary Fund (IMF) on Thursday, saying that the program agreed to with the multinational lender is holding back the country's economy.

Reuters

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Trying to keep small islands afloat

It is too early to tell whether all the talk about reforming development finance at this year's International Monetary Fund and World Bank Spring Meetings will translate into meaningful policy action for the Global South. But multilateral financial institutions increasingly recognise the need to evolve to remain relevant in light…

Bangkok Post

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,…

The Conversation

Sri Lanka president vows to conclude debt-restructuring talks by Sept or Nov

Debt-laden Sri Lanka should be able to conclude a new round of restructuring talks by September or November at the latest, its president said on Thursday, adding that the negotiations had made "remarkable" progress.

Reuters

Rees-Mogg questions whether Government seeks to remain aligned with EU

He was speaking as MPs debated Lords amendments to the Retained EU Law (Revocation and Reform) Bill.

The Independent UK

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.

Reuters

IMF’s anti-tax cut stance may give Rishi Sunak cover to resist Tory right

UK ministers will use improved forecast to claim plans are working – but IMF also urged more action to protect vulnerable people

The Guardian - UK

India-Australia relationship is based on mutual trust and mutual respect:PMModi

Mutual trust and respect foundation of India-Australia ties: PM Modi

The Times of India

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Evening Standard

UK will avoid recession in 2023, says IMF

In April it forecast that UK output was expected to contract by 0.3%.

The Independent UK

Bank of England admits it made errors in inflation forecasts

The Bank’s top economist Huw Pill acknowledged forecasts for inflation were ‘too low’, leading to mistakes in its decision-making

The Guardian - UK

IMF says UK no longer heading for recession but urges against tax cuts

Jeremy Hunt should squeeze public spending and cut debt, says Washington-based body

Reuters

IMF mission starts review of Ukraine's new loan program

An International Monetary Fund mission started work on Tuesday on the first review of a $15.6 billion loan program that it approved in March, the Ukrainian finance ministry said.

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The Independent UK

UK will avoid recession in 2023 – IMF

In April it forecast that UK output was expected to contract by 0.3%.

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 Times of India

Pakistan investors brace for shockwaves as Imran Khan tests army

ISLAMABAD: Pakistan investors are bracing for a sudden jolt as former premier Imran Khan’s showdown with the powerful military, and the government, reaches a tipping point.

Reuters

Argentina president, protesters slam IMF debt, austerity as economy creaks

Argentine President Alberto Fernandez and protesters in Buenos Aires pushed back against the International Monetary Fund (IMF) on Thursday amid heightened tensions with the lender as the country faces nearly 109% inflation and dwindling dollar reserves.

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

The Independent UK

Takeaways of AP's report on Chinese loans pushing poor countries to brink of collapse

A dozen poor countries are facing economic instability and even collapse because of a common, undeniable factor: their struggle to pay back hundreds of billions of dollars in foreign loans, much of them from the world’s biggest and most unforgiving government lender, China

The Independent UK

'Clock has hit midnight': China loans pushing world’s poorest countries to brink of collapse

A dozen poor countries are facing economic instability and even collapse under the weight of hundreds of billions of dollars in foreign loans, much of them from the world’s biggest and most unforgiving government lender, China

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