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The Latest Breaking News from International Monetary Fund

Public workers strike in Tunisia, signaling national crisis

A nationwide public sector strike in Tunisia is poised to paralyze land and air transportation and other vital activities with the North African nation already in the midst of a deteriorating economic crisis

The Independent UK

Public Workers Strike in Tunisia

A nationwide public sector strike in Tunisia is poised to paralyze land and air transportation and other vital activities Thursday with the North African nation already in the midst of a deteriorating economic crisis. Tunisia’s powerful General Labour Union (UGTT) announced the walkout, which was expected to include 159 state…

Asharq Al-Awsat

Tunisia International Flights to be Cancelled on Thursday

Tunisia International Flights to be Cancelled on Thursday All international flights to and from Tunisia will be cancelled on Thursday due to a national public strike called by the powerful UGTT union, a union official told Reuters on Wednesday. The union called a nationwide strike by employees in state companies…

Asharq Al-Awsat

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Pakistanis urged to cut down on tea consumption to fix ailing economy

If rising fuel prices, inflation and political turmoil weren't enough, Pakistanis have now been asked to cut down on their daily tea intake.

ABC News

Tourism key to recovery

Tourism will be the key engine supporting Thailand's economic recovery, replacing the slowing export sector, says the Economic Intelligence Center (EIC), a research house under Siam Commercial Bank.

Bangkok Post

Blinken assures Sri Lanka of support to promote American investments once IMF negotiations are over

COLOMBO: US secretary of state Antony Blinken has assured crisis-hit Sri Lanka of support to promote American investments in the country after the completion of IMF negotiations, as he spoke with Prime Minister Ranil Wickremesinghe to discuss the island nation's current economic and political challenges.

The Times of India

Sri Lanka gives public workers extra day off to grow food

Sri Lanka has approved a four-day work week for public sector workers to help them cope with a chronic fuel shortage and encourage them to grow food, the government said on Tuesday, as it struggles with its worst financial crisis in decades.

Reuters

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Pakistan to raise taxes on rich, ban some car buying to secure IMF bailout

Pakistan Finance Minister Miftah Ismail said on Friday the government would raise taxes on the rich and ban government officials from buying new cars, amid pressure to control the fiscal deficit and secure International Monetary Fund (IMF) bailout money.

Reuters

Sri Lanka tycoon Dhammika Perera to replace president's brother in parliament

One of Sri Lanka's richest businessmen will replace the president's brother in parliament, a ruling party official said on Friday, as the cash-strapped country moves forward on talks for a bailout plan with the International Monetary Fund (IMF).

Reuters

IMF delegation to visit crisis-hit Sri Lanka this month for talks

An International Monetary Fund (IMF) delegation will visit Sri Lanka on June 20 for talks as the country looks for a loan programme from the lender to deal with its worst economic crisis in seven decades, the prime minister's office said on Friday.

Reuters

IMF welcomes India's decision to relax ban on wheat exports

However, it is concerned over curtaiing exports of commodity goods, including food and fuel by 30 other nations.

The Hindu

IMF Names Resident Representative for Lebanon to Continue Reform Talks

The International Monetary Fund (IMF) has picked a resident representative for Lebanon, the multilateral lender's spokesman Gerry Rice said on Thursday. Rice, who did not specify who had been named for the position, added the IMF will continue its talks on an economic reform program with the country. The IMF…

Asharq Al-Awsat

Willing to work with India to help Sri Lanka, says China

New Delhi has made great efforts to help Colombo: Beijing

The Hindu

The shadows over global growth recovery are long

The developing economies have to prepare for tighter financial conditions and spillovers from geopolitical volatility

The Hindu

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The Conversation

Beyond boats, beef and Bali: Albanese's unfinished business with Indonesia

Indonesia may be the world’s fourth most populous nation – with more than 270 million people – but Australian news coverage of it typically involves three things: beef, boats and Bali.

Tribune News Service

Sri Lanka president vows to finish term, won’t run for re-election

COLOMBO, Sri Lanka — President Gotabaya Rajapaksa vowed to finish the remaining two years in his term despite month-slong street protests calling for his ouster, but won’t stand for re-election as he focuses on fixing a financial mess that tipped Sri Lanka into its worst-ever economic crisis.

The Times of India

Ahead of govt consultation paper launch, RBI deputy governor says CBDCs can kill case for cryptocurrencies

MUMBAI: Ahead of the government coming out with a consultation paper on cryptocurrencies, Reserve Bank deputy governor T Rabi Sankar on Thursday said the soon-to-be-introduced central bank digital currencies (CBDCs) can "kill" whatever little case that exists for private virtual currencies like bitcoin.

Inverse

You need to watch Tom Cruise’s most gravity-defying action thriller on Netflix ASAP

Brad Bird proved he was the perfect choice to direct a 'Mission: Impossible' movie with 'Ghost Protocol.'

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Reuters

Timeline: The Bolsheviks to Putin: a history of Russian defaults

In 1918, Soviet revolutionary Leon Trotsky told Western creditors aghast at the Bolsheviks' repudiation of Russia's external debt: "Gentlemen, you were warned."

Asharq Al-Awsat

Tunisian Union Announces National Strike in June

Tunisia’s powerful UGTT union on Tuesday called a national public strike for June after the government refused to increase wages, an escalation that may hinder the government's efforts to reach a deal with the International Monetary Fund. Tunisia faces a serious financial crisis and is seeking a $4 billion loan…

The News Lens

Why Young Protesters in Sri Lanka Are Wary of Traditional Politics

Sri Lanka is facing one of the worst economic crises in recent decades, triggering public anger and mass protests, which have fostered unity across ethnic and religious lines.

The Times of India

Forex reserves rise $4.23 billion to $597.51 billion: RBI

MUMBAI: India's forex reserves increased by $4.23 billion to $597.509 billion for the week ended May 20 on the back of a high accretion of core currency assets, according to RBI data.

The Independent UK

Sri Lanka PM stresses urgency for economic reform plan

Sri Lanka’s prime minister says that he will quickly prepare an economic reform program and seek approval from the International Monetary Fund

France 24

Davos 2022: IMF chief says food export bans 'only making crisis worse'

This year's World Economic Forum in Davos has been dominated by the war in Ukraine and its implications on the global economy. With the drop in grain exports from the region, concern is growing over a looming food crisis. FRANCE 24's Business Editor Kate Moody spoke to IMF Managing Director…

Al Jazeera

Value of Lebanese pound drops to all-time low

The black market rate, widely used across the country, now sits at 35,600 to the US dollar.

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