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The Latest Breaking News from International Monetary Fund

UN steps up criticism of IMF and World Bank, the other pillars of the post-World War II global order

From the ashes of World War II, three institutions were created as linchpins of a new global order

The Independent UK

IMF head welcomes Europe's interest rate hikes in campaign against inflation

The head of the International Monetary Fund has praised the European Central Bank’s decision to raise interest rate for the eighth time in a row

The Independent UK

IMF slams new Pakistan budget proposal, says government failing to implement a more fair tax system

The International Monetary Fund has slammed Pakistan’s government over its proposal for the new annual budget, saying it failed to implement a more fair tax system in the draft

The Independent UK

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The west has broken its promises to developing countries – and we’re all paying the price

A summit in Paris this month offers a way to tackle this disastrous failure, but only if western leaders bother to turn up, says the Guardian’s economics editor, Larry Elliott

The Guardian - UK

Pakistan budget ‘missed opportunity’ as IMF bailout cutoff looms

Global lender expresses dissatisfaction with recently presented budget only two weeks before bailout programme expires.

Al Jazeera

New Zealand falls into recession, as impact of cyclones takes toll

As the economy shrinks by 0.1% in the March quarter, officials say the impacts of cyclones Hale and Gabrielle worsened the economic outlook

The Guardian - AU

Lebanon’s crisis deepens as presidential vote fails

Lebanon has been plunged deeper into crisis after Hezbollah and its allies thwarted a bid to elect a top IMF official as president.

The New Daily

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Lebanese lawmakers fail in yet another attempt to elect president, end power vacuum

Lebanese lawmakers have failed in yet another attempt to elect a president and break a seven-month power vacuum roiling the country

The Independent UK

UK economy returns to growth after Brits spend more in pubs, bars and shops

The UK's GDP was boosted by 0.2 percent in April after a fall in March

Manchester Evening News

Time for an Asian Monetary Fund

Although the International Monetary Fund (IMF) has long been the most prominent global institution for promoting financial stability, calls to create regional alternatives are growing louder.

Bangkok Post

Why is the EU offering Tunisia a financial assistance package?

The EU hopes to stem the number of refugees departing for Europe from the country’s coast during an economic crisis.

Al Jazeera

UBS completes takeover of Credit Suisse to form Swiss banking behemoth

The merger was finalised just under three months after a rapid agreement brokered by the Swiss government. Meanwhile, European leaders are exerting pressure on Tunisia to accept a $1.9 billion IMF bailout. In other news, financier George Soros is transferring control of his $25 billion empire to his 37-year-old son.

France 24

EU offers Tunisia aid package, seeks tighter border control

The EU is considering a major financial package for the cash-strapped nation amid a growing refugee and migrant crisis.

Al Jazeera

EU may give Tunisia more than €1bn in aid to help finances and stem migration

Ursula von der Leyen says €900m will be macrofinancial assistance while €105m will help combat people-smuggling

The Guardian - UK

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France 24

European leaders meet in Tunisia for talks on the economy, migration

Tunisia is hosting the leaders of Italy, the Netherlands and the European Union on Sunday for talks aimed at smoothing the way for an international bailout and restoring stability to a country that has become a major source of migration to Europe.

The Independent UK

European leaders hope to restore stability in Tunisia, a major source of migration

Tunisia is hosting the leaders of Italy, the Netherlands and the European Union for talks aimed at smoothing the way for an international bailout

Al Jazeera

Pakistan lays out budget but may not satisfy IMF

The ‘plain-vanilla’ budget is unlikely to satisfy IMF, which could lead to the South Asian nation defaulting on debt.

Manchester Evening News

Bank of England interest rates announcement to be made in June - what to expect

Experts have warned that inflation may not have fallen low enough to prevent another hike in interest rates

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Al Jazeera

Crisis-hit Pakistan set to present budget as IMF watches

Pakistan hopes budget will help unlock more than $2.5bn left in $6.5bn IMF bailout programme expiring this month.

The Independent UK

Italy's Meloni expresses hope for deal on IMF bailout of Tunisia as she preps weekend visit

The leaders of Italy and the Netherlands along with the EU Commission president travel to Tunisia on Sunday with a packet of initiatives to help create security in Tunisia, easing the way for a possible international bailout

Al Jazeera

Pakistan PM hopeful of IMF deal this month amid escalating crisis

Shehbaz Sharif’s statement comes as Pakistan seeks immediate release of $1.1bn from IMF, part of $6.5bn bailout package.

Fortune

IMF's Gopinath: We lack the 'luxury of time' with A.I.

Gita Gopinath argued that automation in manufacturing is an example of how experts can't accurately gauge the impact of tech on the labor force.

Reuters

Sri Lanka to reduce drug prices by 16% as crisis eases- minister

Sri Lanka will slash the price of 60 essential drugs by 16% from June 15, the Health Minister said on Tuesday, as the country sees a glimmer of relief from its worst financial crisis in decades.

Reuters

Pakistan's Prime Minister hopeful for deal with IMF this month

Pakistani Prime Minister Shehbaz Sharif is hopeful of finalising a deal with the International Monetary Fund (IMF) this month, he said in an interview with Turkish news agency Anadolu.

Reuters

Italy PM hopes trip to Tunisia may unblock IMF loan, sources say

Italian Prime Minister Giorgia Meloni will travel to Tunisia on Tuesday looking to make progress in unblocking loans from the International Monetary Fund (IMF) for the north African state, two diplomatic sources told Reuters.

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