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The Latest Breaking News from Fund

Will Biden ever stand up to the IMF’s abuses of power?

The IMF claims to deliver stability, strength, and solidarity. Its record shows the opposite

The Guardian - US

Bulgaria's growth prospects dented by war in Ukraine -IMF

The war in Ukraine is likely to hit Bulgaria's economic growth, speed up inflation and could pose credit risks, the International Monetary Fund said on Friday.

Reuters

Kuwait’s Development Fund: Sri Lanka’s Debt is ‘Sovereign,’ Can’t Be Canceled

The Kuwait Fund for Arab Economic Development (KFAED) affirmed on Wednesday that the debts other countries owe it are “sovereign.” It referred to Sri Lanka’s announcement of defaulting on its $51 billion external debt. The Fund is one of the entities that lend to the Sri Lankan government, which has…

Asharq Al-Awsat

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Cash for the poorest areas will be diverted to wealthier regions in UK government's replacement for EU structural funds

The UK's replacement for EU structural funds will divert much of the money away from the poorest areas

Wales Online

New Lebanese Parliament Will Act on IMF Deal, PM Adviser Says

A set of reforms the IMF wants Lebanon to enact before approving a funding deal for the country will largely be left for a new parliament to study, an adviser to the prime minister said on Friday, suggesting little may be done before a May 15 national election. The IMF…

Asharq Al-Awsat

Lebanon may not enact IMF reforms before election, lawmakers say

Lebanon won't be able to deliver many if any reforms sought by the IMF as conditions for a funding deal before an election in May, two lawmakers said, meaning months could go by without action as that vote may well be followed by political limbo.

Reuters

India doubles its contribution to UNESCO fund for elimination of doping

NEW DELHI: India has contributed $72,124, more than double of last year, to UNESCO fund for elimination of doping in sports.

The Times of India

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Exclusive-IMF board approves $45 billion Argentina program -sources

The International Monetary Fund's executive board on Friday approved a $45 billion program for Argentina after more than a year of negotiations, two sources with direct knowledge said, allowing the South American grains exporter to avoid a costly default with the Washington-based lender.

Reuters

Saudi Arabia Adopts Measures to Strengthen Food Security

The Saudi Agriculture Development Fund has approved several loans, worth over SR861 million ($229 million), to finance working capital for the import of agricultural products, within endeavors to strengthen food security in the Kingdom. The Fund’s Vice Chairman and General Manager, Munir bin Fahd Al-Sahli, stated that the approval of…

Asharq Al-Awsat

Russia risk to Falkirk Council's pension fund is 'miniscule'

Falkirk Council's pensions committee was told they have no direct investments in Russian companies, but the turmoil created by the invasion could affect the fund.

Daily Record

Saudi Crown Prince Launches New Strategy for National Development Fund

Saudi Crown Prince Mohammed bin Salman, Deputy Prime Minister, and Chairman of the National Development Fund (NDF), launched on Monday the Fund’s strategy. The strategy was announced during a meeting of the NDF’s Board of Directors. The strategy aims to make the fund a pivotal enabler for the economic and…

Asharq Al-Awsat

IMF says working on bilateral donor trust fund for Ukraine

The International Monetary Fund is working on a new Ukraine trust fund instrument to allow bilateral donor countries to contribute resources to the war-torn country as it battles a Russian invasion, an IMF official said on Monday.

Reuters

Five Derry city projects receive over £700,000 in peace building boost

This is part of a wider investment by International Fund for Ireland of almost £4.5million towards peace projects

Belfast Live

Pfizer to provide 10 million courses of COVID pill to developing countries -the Global Fund

Pfizer Inc is expected to provide around 10 million courses of its highly effective COVID-19 antiviral treatment Paxlovid to low- and middle-income countries this year, according to an official with the Global Fund, a healthcare NGO working to buy the pills from the drugmaker.

Reuters

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Asharq Al-Awsat

Saudi PIF Sets Framework for Green Financing

Saudi Public Investment Fund (PIF), the Kingdom's sovereign wealth fund, laid out plans on Monday for raising green debt as the world's top oil exporter strives to reach net-zero carbon emissions by 2060. The Fund published the green finance framework that will allow it to tap world markets to issue…

Asharq Al-Awsat

IMF Calls for Structural Economic Reforms in Tunisia

The International Monetary Fund (IMF) mission concluded virtual talks on Tunisia by calling on the authorities to implement structural economic reforms. Tunisian sources reported that the Fund stressed the need to reduce subsidies on essential goods such as petrol and staple foods, adding that state resources should be invested in…

The Guardian - UK

Increase funding or abandon hope of ending malaria, TB and Aids, UK warned

Global Fund urges UK and other donors to pledge billions to get efforts to end diseases by 2030 ‘back on track’ after catastrophic impact of Covid

Asharq Al-Awsat

Saudi Arabia to Provide Financial, Logistical Support to Investors in Tourism

Saudi Arabia’s Tourism Development Fund said it was ready to partner with the chambers of commerce and the relevant sectors to promote the tourism industry and achieve projects’ sustainability. The Fund aims to enable one of the most vital sectors in the Kingdom, attract tourism investments and stimulate developments, in…

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Asharq Al-Awsat

Saudi Crown Prince Says 4% of Aramco Shares Moved to Sovereign Wealth Fund

Saudi Arabia's Crown Prince Mohammed bin Salman announced the transfer of 4% of Saudi Aramco shares to the Public Investment Fund, Saudi Arabia's sovereign wealth fund, state news agency SPA reported on Sunday. The Crown Prince said the state remains the largest shareholder in Saudi Aramco after the transfer process,…

Asharq Al-Awsat

Saudi Sukuk Issuance to Increase by 37 Percent

Saudi sukuk issuances increased by 37 percent during the past year on an annual basis, according to S&P Global Ratings. The announcement was made as the global credit rating agency, Moody’s, assigned the Public Investment Fund (PIF) with a first-time issuer rating of A1 and a scorecard indicated rating of…

The Hindu

One-third of ₹10,990 crore in PM CARES fund spent: ‘20-’21 audit

₹3,976 crore spent during 2020-21; ₹100 cr promised for vaccine development not allotted

The Guardian - UK

Guardian documentary The Black Cop nominated for a BAFTA Film Award

The Black Cop, a short film commissioned by Guardian Documentaries and supported by the BFI Doc Society Fund (awarding National Lottery funding), has been nominated for a BAFTA Film Award.

Asharq Al-Awsat

OPEC Fund Provides $1.5 Bn in New Development Financing

The OPEC Fund for International Development committed $1.5 billion to global development last year, focused on helping its partner countries to increase economic resilience strengthen economic growth and job creation through support for micro, small and medium-sized enterprises (MSMEs). The OPEC Fund, which marked its 46th anniversary on 28 January,…

Al Jazeera

Recovery disrupted: IMF cuts global economic growth forecast

Cut to global forecast largely reflects downward revisions to US and China outlooks.

Asharq Al-Awsat

Lebanese Cabinet Meets after Hiatus, amid Friction over Budget

The Lebanese cabinet met on Monday for the first time since October, convening after Iranian-backed Hezbollah ended a boycott but with the powerful group and others objecting to a draft budget that was the main agenda item. With Lebanon mired in one of the world's sharpest financial crises, Prime Minister…

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