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The Latest Breaking News from International Monetary Fund

Opinion: Internationalizing the Yuan Is Not Easy, but China Is Pulling Out All the Stops

Beijing is using policy support, a large financial market, stable currency value and increasing exchange rate flexibility to make the renminbi a currency of choice in global markets

Caixin Global

Sri Lankan state workers strike, protesting high taxes

Sri Lankan health, railway, port and other state workers are on a daylong strike to protest against sharp increases in income taxes and electricity charges, as the island nation awaits approval of an International Monetary Fund package to aid its bankrupt economy

The Independent UK

Standard & Poor’s Maintains Jordan’s Credit Rating

Jordan's Finance Minister Mohamad Al Ississ told Reuters on Tuesday that S&P Global's decision to maintain the kingdom's sovereign credit rating at B+/B reflected confidence in accelerating IMF-backed reforms. "This is the latest confirmation of Jordan's credit rating ...

Asharq Al-Awsat

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Lebanon: Mikati Says Parties Rejecting Cabinet Meetings Better Elect a President

Lebanon’s caretaker Prime Minister Najib Mikati hailed the latest development in the Saudi-Iranian relations, stressing that Lebanon supports any "consensual" course in the region mainly that Saudi Arabia is a party to it.

Asharq Al-Awsat

Foreign minister says Pakistan in `perfect storm' of crises

Pakistan’s foreign minister says his country is facing “a perfect storm” of troubles — an economic crisis, the consequences of catastrophic flooding and terrorism “that is once again rearing its ugly head” as a result of the Taliban takeover of Afghanistan

The Independent UK

How skyrocketing inflation has hit Pakistan’s most vulnerable

With Ramadan approaching, millions of Pakistanis struggle to put food on the table amid a worsening economic crisis.

Al Jazeera

Sri Lanka leader says IMF deal imminent after China's pledge

Sri Lanka’s president says China has given crucial debt restructuring assurances that mean the bankrupt nation could get its bailout package approved soon

The Independent UK

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How the IMF naively parroted Putin’s fake statistics–and botched its economic forecast for Russia

The IMF simply does not have the data it needs to independently calculate Russia’s GDP by any accepted method.

Fortune

‘Down with the police state,’ chant thousands of protesters in Tunisia

Thousands of people marched through Tunisia's capital on Saturday, decrying an expanding crackdown on opposition voices and rising inflation as the country's largest trade union called on President Kais Saied to accept "dialogue".

France 24

Sri Lanka raises rates, relaxes currency band to secure IMF funds

The country is awaiting approval of a $2.9bn IMF bailout package as it endures its worst financial crisis since 1948.

Al Jazeera

How to finance global survival

We must face, and act upon, an inconvenient truth. The impact of human activities on Earth's geology and ecosystems is threatening the foundations of life on our planet and decades of progress in human development.

Bangkok Post

Markets brace for Pakistan default risk as $7 billion debt looms

ISLAMABAD: Bondholders are bracing for a potential default by Pakistan as the beleaguered nation struggles to meet billions of dollars in debt repayments by June.

The Times of India

Half of Sri Lanka families reducing children food intake: Charity

Government and global community must act to prevent children from ‘becoming a lost generation’, warns Save the Children.

Al Jazeera

Egypt Hikes Gasoline Prices in Quarterly Review

Egypt raised domestic gasoline prices on Thursday in line with a commitment under a financial support package with the International Monetary Fund, while keeping the diesel price unchanged, the petroleum ministry said in a statement. The country's fuel pricing committee set the prices in a quarterly review, raising the price…

Asharq Al-Awsat

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The Independent UK

In Egypt, government and poor struggle with troubled economy

Egypt is in an economic crisis worsened by the Russian invasion of Ukraine

Al Jazeera

Europe leaps towards energy autonomy as sanctions undercut Russia

Moscow has waged an energy war against the EU over the past year, but the bloc appears to be holding firm.

Tribune News Service

Yellen makes surprise visit to Ukraine to reinforce US support

U.S. Treasury Secretary Janet Yellen made an unannounced trip to Ukraine to reinforce the Biden administration’s support and highlight the economic aid that’s helping keep the embattled nation’s schools, hospitals and other essential services running as Russia’s invasion enters its second year.

Asharq Al-Awsat

G20 Warns War Repercussions Exacerbate Global Economy Fragility

Finance ministers of the world's largest economies on Saturday strongly condemned Moscow's war on Ukraine, with only China and Russia refusing to sign a joint statement. India, the current chair of the Group of Twenty (G20), was reluctant to raise the issue of the war, but Western countries insisted they…

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Reuters

Argentina in talks with IMF to ease reserves targets amid drought

Argentina's government is in final talks with International Monetary Fund officials to ease foreign exchange reserves targets for 2023 under the country's $44 billion program, two sources close to the matter told Reuters.

Asharq Al-Awsat

World Bank Promises ‘Concessionality’ in Debt Restructuring

The World Bank will "provide as much concessionality to the debt treatment" for distressed economies as possible, its president told a meeting with the International Monetary Fund, India, China, and other creditor nations on Saturday. The remarks come amid calls by China, the world's largest bilateral creditor, that global lenders…

Asharq Al-Awsat

G20 Finance Chiefs Differ on Debt, Russia-Ukraine War

Finance leaders of the world's biggest economies were entangled in differences on Saturday over the war in Ukraine and on resolving the debt burden of distressed developing nations, participants said. The meeting of finance ministers and central bank chiefs of the Group of 20 (G20), hosted by India, was likely…

Reuters

Most G20 nations condemn Russia for war, China silent

Finance chiefs of the world's largest economies strongly condemned Moscow for its war on Ukraine on Saturday, with only China and Russia itself declining to sign a joint statement.

Reuters

IMF flags debt restructuring hurdles, says banning crypto should be an option

There are some disagreements over restructuring debt for distressed economies, the chief of the International Monetary Fund said on Saturday on the sidelines of a G20 meeting, adding that banning private cryptocurrencies should be an option.

Bangkok Post

Multilateralism is still the best course of action

The great statesmanship and leadership that the United States showed during and after World War II is well known. America was the world's preeminent political, economic, and military power, and instead of using its position to penalise the losers and demand reparations, it helped plan and found multilateral global-governance institutions…

Fortune

Top Wall Street strategist David Rosenberg crushes rosy economic predictions and says ‘no landing’ talk is Wall Street’s ‘biggest hoax’ in years

Even if inflation fades, with interest rates staying higher for longer, the founder and president of Rosenberg Research fears a recession is on the way.

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