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The Latest Breaking News from International Monetary Fund

The IMF is failing countries like Kenya: why, and what can be done about it

The recent Kenyan protests are a warning that the International Monetary Fund (IMF) is failing. The public does not think it is helping its member countries manage their economic and financial problems, which are being exacerbated by a rapidly changing global political economy.

The Conversation

The world is scrambling to understand Kenya’s historic protests – this is what too many are missing

A finance bill was the trigger, but the backdrop is government debt and blinkered interventions from western institutions, says Kenyan political analyst Nanjala Nyabola

The Guardian - UK

Bretton Woods: bloodied, battered but still a huge international achievement 80 years on

In July 1944, with war still raging in Europe and the Pacific, 730 delegates from 44 countries gathered at the Mount Washington, a grand hotel built at the turn of the century in New Hampshire. They were on the edge of a little town called Carroll, surrounded by a national…

The Conversation

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IMF Slightly Downgrades US Economic Forecast For 2024

The IMF said Thursday it expects the US economy to grow a bit more slowly than previously forecast, while praising the way it has remained "robust, dynamic, and adaptable to changing global conditions."

International Business Times

'For A Better Kenya': Protesters Ready For New March Despite Ruto U-turn

Kenyan demonstrators prepared to resume protests Thursday, a day after President William Ruto made a dramatic U-turn and withdrew contentious tax hikes following deadly rallies earlier in the week.

International Business Times

'For a better Kenya': protesters ready for new march despite Ruto U-turn

Kenyan demonstrators prepared to resume protests Thursday, a day after President William Ruto made a dramatic U-turn and withdrew contentious tax hikes following deadly rallies earlier in the week.

Radio France Internationale

‘The people have spoken’: Why did Kenya’s Ruto reject tax bill he pushed?

Western pressure likely made Ruto backtrack after deadly violence, but his credibility has been badly hit, say analysts.

Al Jazeera

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Sri Lanka reaches deal on debt restructuring with bilateral creditors including China and France

Sri Lanka’s President Ranil Wickremesinghe has announced a debt restructuring deal with countries including India, France, Japan and China in a televised address to the nation

The Independent UK

Kenya's Ruto says finance bill to be withdrawn after anti-tax protest deaths

Kenyan President William Ruto on Wednesday said he would withdraw planned tax rises, bowing to pressure after deadly demonstations saw protesters storming parliament and threatening more action this week.

France 24

Sri Lanka Seals Partial Debt Deal After Financial Crash

Cash-strapped Sri Lanka said Wednesday it had clinched a restructuring deal with a majority of bilateral lenders covering up to $5.8 billion in debt, a key step towards recovery after a 2022 financial crash.

International Business Times

Cash-strapped Sri Lanka Set To Sign Key Debt Deals With Lenders

A treasury delegation is on its way to France to sign agreements with creditors on Wednesday, government spokesman Bandula Gunawardana said.

International Business Times

IMF suggests taxing CO2 emissions caused by AI

Noting its potentially negative impacts on the labor force, the IMF is prepared to explore restrictions on AI, including taxation.

TechRadar

Balance effects of AI with profits tax and green levy, says IMF

Governments should use fiscal policies to atone for technology-related carbon emissions, urges report

The Guardian - UK

U.S. debt could threaten the economic growth that's needed to keep the burden sustainable, former IMF official says

"Even absent this dire scenario, meeting additional interest obligations as the debt ratio rises could require the federal government to cut discretionary spending, with negative implications for economic growth."

Fortune

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International Business Times

IMF Board Approves Argentina Payout Of Almost $800 Mn

The IMF executive board voted Thursday to approve a payout of almost $800 million for Argentina as it continues a program of drastic economic reforms under its libertarian president, Javier Milei.

The Independent UK

Pakistan’s new government presents its first budget as it seeks a new long-term IMF bailout

Pakistan’s new coalition government presented its first budget in parliament

Al Jazeera

Is Pakistan’s crisis-ridden economy finally recovering?

Inflation is down, forex reserves are up. But analysts warn it’s early days, and everyday people are yet to benefit.

Al Jazeera

Russia test: Will Pakistan attend the Ukraine peace summit?

Pakistan insists it has stayed neutral on Russia’s war on Ukraine. But it now faces a difficult choice.

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Fortune

IMF officialdelivers stark warning on AI's potential to turn an ordinary downturn into a severe economic crisis

"I believe there is a real need to have parallel effort to make sure that we're also AI-proofing the global economy."

Fortune

Renault links up with Chinese partner to build $22,000 EV after VW broadside

Renault CEO Luca de Meo was critical of Volkswagen after talks over a joint affordable EV imploded.

Top News

IMF Upgrades China's Economic Forecast, Calls For Consumer-Friendly Reforms

IMF upgrades China's growth forecast to 5%, emphasizing consumer-friendly reforms for sustained high-quality growth. Risks ahead include declining growth r...

The Independent UK

IMF upgrades its forecast for China's economy, but says reforms are needed to support growth

The International Monetary Fund has upgraded its forecast for China's economy, while warning that reforms are needed to sustain growth

International Business Times

IMF Lifts China Growth Forecast But Warns On Industrial Policy

The International Monetary Fund on Wednesday raised its yearly growth forecast for China, but warned that Beijing's industrial policy risks a "misallocation" of resources and could harm trade.

Inverse

9 Years Later, The Century's Best Spy Thriller Franchise Could Regain A Secretly Crucial Character

How do you make impossible missions plausible? When it comes to 'Mission: Impossible' movies, the answer might be Jeremy Renner.

The Guardian - UK

Sunak dashed for July election because hopes of UK economic recovery are fading

Prime minister knows economy is likely to be in even worse shape by autumn or winter, but summer’s good news won’t impress a battered public

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