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THE TRUTH ABOUT: 61 | History Defined

IMF Sees Global Growth Below 3% in 2023

The International Monetary Fund expects global economic growth to dip below 3% in 2023 and to remain around 3% for the next five years, IMF Managing Director Kristalina Georgieva said in prepared remarks on Thursday. That is the global lender's lowest medium-term growth forecast since 1990, and well below the…

Asharq Al-Awsat

Global economy heading for weakest growth since 1990, says IMF boss

Kristalina Georgieva says slowdown last year after Covid pandemic and Russian invasion of Ukraine could persist for five years

The Guardian - UK

Paris Asks Franjieh for Guarantees, Answer Lies with 'Hezbollah'

Qatar's Minister of State in the Ministry of Foreign Affairs Mohammed bin Abdulaziz bin Saleh Al-Khulaifi held recently a number of meetings with Lebanese spiritual and political leaders, which highlighted the difference between Qatar and France's approach in dealing with the presidential issue. According to well-informed sources, Paris is likely…

Asharq Al-Awsat

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The IMF warns the shadow banks that hold nearly 50% of global assets are vulnerable as central banks raise rates to tackle inflation

IMF researchers are calling for regulation of the shadow banking system, citing potential risks to the financial system.

Fortune

IMF Approves Two-Year Flexible Credit Line for Morocco

The Executive Board of the International Monetary Fund (IMF) has approved a two-year arrangement for Morocco under the Flexible Credit Line (FCL).

Asharq Al-Awsat

Liz Truss pension episode flags risk of further financial crises, says IMF

Report calls for tighter regulation of non-banks as comfortable decade of low interest rates comes to an end

The Guardian - UK

IMF board approves $5.4 billion Argentina loan disbursement

The International Monetary Fund’s executive board approved a $5.4 billion disbursement to Argentina, a key step forward in the government’s program that has faced setbacks amid a worsening economic outlook.

Tribune News Service

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Outrage as Moscow takes presidency of UN security council – as it happened

Top Ukrainian official criticises the ‘symbolic blow’ of Russia assuming the rotating presidency

The Guardian - AU

IMF Approves $15.6 Bln Ukraine Loan

The International Monetary Fund said on Friday its executive board approved a four-year $15.6 billion loan program for Ukraine, part of a global $115 billion package to support the country's economy as it battles Russia's 13-month-old invasion. The decision clears the way for an immediate disbursement of about $2.7 billion…

Asharq Al-Awsat

Russian UN Security Council presidency is absurd, says Zelensky

Ukrainian President Volodymyr Zelensky on Saturday said it was absurd that Russia had assumed the rotating presidency of the United Nations Security Council, adding this showed the institution's "total bankruptcy". Earlier in the day, Russian Defence Minister Sergei Shoigu promised to increase the supply of ammunition to Russian forces in…

France 24

Russia's war on Ukraine latest: Huge blaze injures 34 in latest wave of Russian strikes

Russia unleashed a fresh volley of missiles on Ukraine overnight, causing huge blazes in an eastern city, damaging dozens of homes and wounding at least 34 people.

Reuters

IMF board approves $15.6 billion loan for Ukraine -statement

The International Monetary Fund's executive board on Friday approved a four-year $15.6 billion financing package for Ukraine as part of a $115 billion total international support package, as Russia's invasion stretched into a second year, the IMF said.

Reuters

IMF approves $15.6 billion Ukraine loan, part of $115 billion in global support

Reuters

Stampede at Ramadan food distribution centre kills 11 in Pakistan

Women and children die when people panic and push each other to collect food in Karachi, officials say.

Al Jazeera

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Asharq Al-Awsat

EU Official Says Major Aid to Lebanon Depends on IMF Deal

A European Union official visiting Lebanon said Friday that the international body will increase its humanitarian assistance to the crisis-struck country, but that more significant long-term aid depends on reforms and a deal with the International Monetary Fund. EU Commissioner for Crisis Management Janez Lenarčič said at a press conference…

The Independent UK

EU official says major aid to Lebanon depends on IMF deal

A European Union official visiting Lebanon says the international body will boost its humanitarian assistance to the crisis-stricken country, but that more significant long-term aid depends on reforms and a deal with the International Monetary Fund

Reuters

China rolls over $2 billion loan to Pakistan as it struggles with external liquidity

Pakistani Finance Minister Ishaq Dar said on Friday China had rolled over a $2 billion loan that matured last week, providing relief during the South Asian nation's acute balance of payment crisis.

Fortune

Putin can’t handle the truth: Why American journalist Evan Gershkovich, who was abducted for revealing Russia's economic collapse, must be freed

By prosecuting an American journalist, Putin has crossed a line that even he had never crossed before–and every bloodthirsty despot will be watching.

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Reuters

Lebanon has 'no other way out' than IMF deal, U.S. official says

Lebanon has no alternative for economic recovery but to make progress on a deal with the International Monetary Fund, a senior U.S. official said on Thursday.

Asharq Al-Awsat

US Official: Lebanon Has 'No Other Way Out' of Crisis than IMF Deal

Lebanon has no alternative for economic recovery but to make progress on a deal with the International Monetary Fund, US Assistant Secretary of State for Near Eastern Affairs Barbara Leaf said in an online briefing on Thursday. Leaf, who visited Lebanon and other countries in the region in recent weeks,…

The Guardian - UK

World Bank chief calls for dramatic hike in funding to help developing world

Outgoing boss David Malpass says more money needed to combat overlapping crises of war, pandemics and climate emergency

Reuters

Countries in stronger position should help others with debt woes -IMF chief

Countries in a relatively stronger position should help vulnerable nations especially those under debt distress, International Monetary Fund managing director Kristalina Georgieva said on Thursday.

The Independent UK

Fernández, Biden hold talks amid Argentina's economic strain

President Alberto Fernández of Argentina has used a White House meeting to spotlight the economic strain his country faces as he looks for President Joe Biden to back Argentina’s effort to renegotiate with the International Monetary Fund on terms of $44 billion debt

The Independent UK

Sri Lanka slashes fuel prices in welcome relief amid crisis

Sri Lanka’s government has announced significant cuts in fuel prices, providing welcome relief for many after a year of shortages and skyrocketing prices amid the country’s worst economic crisis

Bangkok Post

China ramping up bailout loans to 'Belt and Road' countries

LONDON: China has handed out US$240 billion worth of bailout loans to 22 developing countries at risk of default over the past two decades, with the trend accelerating in recent years, a report said Tuesday.

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