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The Latest Breaking News from International Monetary Fund

Landslide win for Sri Lanka’s leftist coalition in snap general elections

President Dissanayake now has the mandate he needs to tackle corruption and recover stolen assets after financial crash.

Al Jazeera

Sri Lanka President's Party Headed For Landslide: Early Results

New Sri Lankan President Anura Kumara Dissanayake's party was set for a landslide victory in snap legislative elections, initial results showed Friday.

International Business Times

Sri Lanka parliamentary elections 2024: What’s at stake?

Here is why the upcoming parliamentary election is so significant for newly-elected President Anura Kumara Dissanayake.

Al Jazeera

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Sri Lanka President Eyes Parliament Win In Snap Election

Sri Lanka votes Thursday in a second national election in as many months with a deeply divided opposition struggling to recover from a crushing defeat at presidential polls.

International Business Times

IMF's Gita Gopinath U.S. voters' view of inflation

The economy is strong, but voters remember increasing prices.

Fortune

A recession could create an ‘abrupt shift’ in AI adoption: ‘‘That’s when you really see the effects of automation’

During recessions companies lay people off, automate their jobs, and never hire them back.

Fortune

Countries spend huge sums on fossil fuel subsidies – why they’re so hard to eliminate

Fossil fuels are the leading driver of climate change, yet they are still heavily subsidized by governments around the world.

The Conversation

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Nayib Bukele Hails Vindication As Bitcoin Hits New All-Time Highs

Nayib Bukele is just one of the many Bitcoiners who feel vindicated after Bitcoin hit new all-time highs, but the El Salvadoran leader's case is particularly special, as he refused to bend to skeptics who questioned his $BTC strategy.

Latin Times

Nayib Bukele Claims Vindication As Bitcoin Hits New All-Time Highs

The El Salvador leader refused to bend to skeptics who questioned his strategy.

International Business Times

Sri Lanka's Leftist President Faces First Parliament Test

Sri Lanka's new leftist leader has drawn strong support from an unlikely source as he seeks to expand his three parliamentary seats to a house majority in elections on Thursday.

International Business Times

US cancels $1.1bn of Somalia’s debt in ‘historic’ financial agreement

Commitment by Mogadishu’s largest single lender is latest in series of deals to forgive ‘unsustainable’ $4.5bn debt

The Guardian - UK

Jittery markets hold their nerve on Budget £32b borrowing as minister reassures: We've all got PTSD from Truss

Chief Secretary to the Treasury Darren said on borrowing the Government does not ‘think that we are pushing it to the limit’

Evening Standard

Chancellor seeks to calm markets amid jitters after Budget borrowing spree

The Budget increased state spending by almost £70 billion per year funded by increased taxes and borrowing.

Evening Standard

Reeves admits NI hike could hit pay rises while markets react to borrowing spree

Chancellor Rachel Reeves insisted she had no alternative but to raise taxes in her first Budget.

Evening Standard

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Reason

A Week of Failing To Pay With Bitcoin in El Salvador

The country claims to be a leader in crypto transactions. But you can't force people to take a currency they don't want.

The Independent UK

Reeves admits tax hikes will hit working people as IFS accuses chancellor of ‘undermining trust’

Rachel Reeves was forced to accept that her decision to raise employers’ national insurance contributions will lead to workers being paid less, but asked, ‘what alternative was there?’

The Guardian - UK

Reeves’s £40bn tax rises will boost growth ‘sustainably’, says IMF

Rare intervention comes as Resolution Foundation says UK will remain ‘stagnation nation’ despite push to invest

The Independent UK

UK politics live: Budget means weekly pay to rise just £13 in 20 years as IFS calls Reeves’s plans ‘unrealistic’

The Resolution Foundation has warned that the pay outlook is “dire” and many UK workers will not feel any better off by the end of this Parliament

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The Independent UK

Taxes will have to rise further despite Reeves’ £40bn tax grab, IFS director warns

Rachel Reeves has hit back at criticism of her Budget after the chancellor received backing from the International Monetary

Reason

Increase in Tariffs Would Trigger Global Economic Decline, Study Finds

A new IMF study finds that a global increase in tariffs could decrease global GDP by nearly 1 percent by 2025 and over 1 percent by 2026.

Fortune

IMF sounds the alarm: ‘There can be no productive economy’ in Germany without structural change

“A lot has been left behind here over the past decades,” Alfred Kammer, IMF's Europe head, said on Germany's lagging economy.

The Guardian - UK

Reeves’s radical change to fiscal rules could go further – New Zealand shows how

Nation follows net worth rules which count liabilities such as debt but also assets, including land, roads, hospitals and schools

Top News

Taiwan Seeks IMF Membership To Boost Global Financial Resilience

Taiwan seeks IMF membership with U.S. support, facing opposition from China. Efforts to elevate global standing.

The Independent UK

Taiwan wants to join the IMF to get financial protection from China

Taiwan is making a longshot push to join the International Monetary Fund

The Guardian - UK

Rachel Reeves basks in IMF backing for UK budget rules overhaul

In one session after another, IMF officials repeated backing for principle of increased borrowing to drive growth

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