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The Latest Breaking News from Fund

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…

Asharq Al-Awsat

IMF says Ukraine war prompts worst global food crisis since at least 2008

Reuters

Why IMF comments on the UK economy spooked traders and investors

Everyone from political pundits to people on the street have issued forth on the new UK government’s tax cut-laden growth plan recently. But it was a rare public rebuke from the International Monetary Fund (IMF) that really impacted financial markets.

The Conversation

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IMF agrees $293 million financing for Barbados, first deal under new trust fund

The International Monetary Fund said on Wednesday that its staff has agreed on some $293 million in new financing for Barbados, including $183 million via a new trust fund created to help vulnerable middle-income and island countries.

Reuters

Strathclyde Pension Fund told to divest from fossil fuels 'as soon as possible'

SOUTH Lanarkshire Council has passed a motion calling on Scotland’s largest local authority pension fund to divest from fossil fuels.

The National (Scotland)

Ghana negotiations with IMF to be fast-tracked : finance minister

Ghana's negotiations with the International Monetary Fund over a rescue package will be fast-tracked, the country's Finance Minister Ken Ofori-Atta said on Wednesday.

Reuters

IMF urges caution as oil-rich Guyana's economic growth nears 60%

Guyana's economic growth could reach close to 60% this year, the International Monetary Fund said in a statement on Tuesday, urging cautious policies even as the tiny South American nation benefits from surging oil production.

Reuters

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Saudi Future Investment Initiative Institute Concludes Deal to Support Tourism

The Saudi Future Investment Initiative Institute (FII) announced it concluded an agreement to boost the tourism sector.

Asharq Al-Awsat

World leaders pledge billions to fight AIDS, tuberculosis, malaria on UN sidelines

The Global Fund to fight AIDS, tuberculosis and malaria on Wednesday reached $14.25 billion pledged as world leaders seek to fight the killer diseases after progress was knocked off course by the COVID-19 pandemic.

Reuters

Exclusive-Ukraine calls for bespoke IMF and World Bank programmes

Ukraine will push for unprecedented and bespoke International Monetary Fund and World Bank packages worth tens of billions of dollars in the coming weeks to shore up its war-ravaged finances, the country's top debt management chief told Reuters.

Reuters

Tunisia Hopes to Reach Deal with IMF By End of October

Tunisia hopes to reach an agreement with the International Monetary Fund by the end of October, the government's spokesperson said on Friday, after a wage deal agreed with unions was seen as a key step towards getting IMF support. "The Tunisian negotiating team was in contact yesterday with (the) IMF…

Asharq Al-Awsat

US to move $3.5bn in Afghan assets to Swiss-based trust

Housed in the Bank for International Settlements, new Afghan Fund will be managed by a board of trustees, the US says

Al Jazeera

U.S. to move $3.5 billion in Afghan central bank assets to Swiss-based trust

The United States on Wednesday announced that it would transfer $3.5 billion in Afghan central bank assets into a new Swiss-based trust fund that will be shielded from the Taliban and used to help stabilize Afghanistan's collapsed economy.

Reuters

IMF confirms plan to expand emergency aid to help countries deal with food shocks

The International Monetary Fund (IMF) on Tuesday confirmed that it is moving toward expanding emergency financing for countries hit by surging food prices and shortages triggered by the war in Ukraine, with some 20 to 30 countries seen most in need.

Reuters

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Reuters

Fight against AIDS, TB and malaria bounced back post-COVID - but not enough

(Corrects to clarify data is from 2022 report, covering 2021 data)

Reuters

Exclusive-IMF eyes expanded access to emergency aid for food shocks - sources

The International Monetary Fund's executive board, under pressure to provide emergency funding to countries facing war-induced food price shocks, reviewed a plan on Monday that would help Ukraine and other countries hit hard by Russia's war, sources familiar with the matter told Reuters.

Asharq Al-Awsat

Saudi Arabia Seeks Promising Local Content Opportunities

Saudi Arabia is pushing towards activating local content in the national industry, specifically in promising sectors. The Minister of Industry and Mineral Resources, Bandar Ibrahim AlKhorayef, met Tuesday with 20 prominent local and international companies to discuss promising local content opportunities and cooperation between the firms and Government Procurement Authority.…

Reuters

Sri Lanka has an IMF deal, now it courts China and India

(Corrects paragraph 30 to show Center for Financial Stability is based in New York, not London)

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The Independent UK

IMF agrees to provide crisis-hit Sri Lanka $2.9 billion

The International Monetary Fund says it has reached a preliminary agreement to provide $2.9 billion over four years to help crisis-hit Sri Lanka

Reuters

Sri Lanka gains IMF's provisional agreement for $2.9 billion loan

Sri Lanka has reached a preliminary agreement with the International Monetary Fund (IMF) for a loan of about $2.9 billion, the global lender said on Thursday, as the country seeks a way out its worst economic crisis in decades.

Reuters

Zambia wins IMF board approval for $1.3 billion loan program

Zambia won International Monetary Fund approval for a $1.3 billion, 38-month loan program on Wednesday, a crucial step in the southern African country's quest to restructure its debts and rebuild an economy ravaged by mismanagement and COVID-19.

Asharq Al-Awsat

Japan Says Financial Aid for Tunisia Hinges on IMF Deal

Japan will consider financial assistance to Tunisia once a deal with the International Monetary Fund (IMF) is reached, head of the Japan International Cooperation Agency (JICA) Tanaka Akihiko has announced. Tunisian Minister of Economy and Planning Samir Saied signed last week a memorandum of understanding (MoU) for several projects in…

Asharq Al-Awsat

Arab Banking Sector Overcomes COVID-19 Adverse Effects

The Arab Monetary Fund revealed that the banking sector in Arab countries has succeeded in overcoming the repercussions of the coronavirus pandemic without significantly impacting its financial institutions. The sector continued to attract liquidity and investments, which boosted Arab economic growth. The Fund added, in its Financial Stability Report in…

The Independent UK

IMF fees on war-torn countries closer to elimination

The International Monetary Fund is facing pressure to eliminate, or at least, reevaluate how it imposes fees on loans it disperses to needy countries like war-torn Ukraine — which is one of the fund’s biggest borrowers

Asharq Al-Awsat

PIF Launches Saudi Egyptian Investment Company

The Saudi Public Investment Fund (PIF) launched on Friday the Saudi Egyptian Investment Company (SEIC) to invest in promising sectors throughout Egypt, one of the world’s emerging markets. SEIC will invest in priority sectors including but not limited to, infrastructure, real estate development, health care, financial services, food and agriculture,…

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