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The Latest Breaking News from International Monetary Fund

Markets brace for Pakistan default risk as $7 billion debt looms

ISLAMABAD: Bondholders are bracing for a potential default by Pakistan as the beleaguered nation struggles to meet billions of dollars in debt repayments by June.

The Times of India

Half of Sri Lanka families reducing children food intake: Charity

Government and global community must act to prevent children from ‘becoming a lost generation’, warns Save the Children.

Al Jazeera

Egypt Hikes Gasoline Prices in Quarterly Review

Egypt raised domestic gasoline prices on Thursday in line with a commitment under a financial support package with the International Monetary Fund, while keeping the diesel price unchanged, the petroleum ministry said in a statement. The country's fuel pricing committee set the prices in a quarterly review, raising the price…

Asharq Al-Awsat

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In Egypt, government and poor struggle with troubled economy

Egypt is in an economic crisis worsened by the Russian invasion of Ukraine

The Independent UK

Europe leaps towards energy autonomy as sanctions undercut Russia

Moscow has waged an energy war against the EU over the past year, but the bloc appears to be holding firm.

Al Jazeera

Yellen makes surprise visit to Ukraine to reinforce US support

U.S. Treasury Secretary Janet Yellen made an unannounced trip to Ukraine to reinforce the Biden administration’s support and highlight the economic aid that’s helping keep the embattled nation’s schools, hospitals and other essential services running as Russia’s invasion enters its second year.

Tribune News Service

G20 Warns War Repercussions Exacerbate Global Economy Fragility

Finance ministers of the world's largest economies on Saturday strongly condemned Moscow's war on Ukraine, with only China and Russia refusing to sign a joint statement. India, the current chair of the Group of Twenty (G20), was reluctant to raise the issue of the war, but Western countries insisted they…

Asharq Al-Awsat

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Argentina in talks with IMF to ease reserves targets amid drought

Argentina's government is in final talks with International Monetary Fund officials to ease foreign exchange reserves targets for 2023 under the country's $44 billion program, two sources close to the matter told Reuters.

Reuters

World Bank Promises ‘Concessionality’ in Debt Restructuring

The World Bank will "provide as much concessionality to the debt treatment" for distressed economies as possible, its president told a meeting with the International Monetary Fund, India, China, and other creditor nations on Saturday. The remarks come amid calls by China, the world's largest bilateral creditor, that global lenders…

Asharq Al-Awsat

G20 Finance Chiefs Differ on Debt, Russia-Ukraine War

Finance leaders of the world's biggest economies were entangled in differences on Saturday over the war in Ukraine and on resolving the debt burden of distressed developing nations, participants said. The meeting of finance ministers and central bank chiefs of the Group of 20 (G20), hosted by India, was likely…

Asharq Al-Awsat

Most G20 nations condemn Russia for war, China silent

Finance chiefs of the world's largest economies strongly condemned Moscow for its war on Ukraine on Saturday, with only China and Russia itself declining to sign a joint statement.

Reuters

IMF flags debt restructuring hurdles, says banning crypto should be an option

There are some disagreements over restructuring debt for distressed economies, the chief of the International Monetary Fund said on Saturday on the sidelines of a G20 meeting, adding that banning private cryptocurrencies should be an option.

Reuters

Multilateralism is still the best course of action

The great statesmanship and leadership that the United States showed during and after World War II is well known. America was the world's preeminent political, economic, and military power, and instead of using its position to penalise the losers and demand reparations, it helped plan and found multilateral global-governance institutions…

Bangkok Post

Top Wall Street strategist David Rosenberg crushes rosy economic predictions and says ‘no landing’ talk is Wall Street’s ‘biggest hoax’ in years

Even if inflation fades, with interest rates staying higher for longer, the founder and president of Rosenberg Research fears a recession is on the way.

Fortune

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The Independent UK

Ajay Banga: Can former Mastercard chief push World Bank to prioritise climate action?

If selected, Banga will assume a crucial job at the 77-year-old institution that oversees the provision of billions of dollars of funding to developing countries

The Independent UK

The calculus of war: Tallying Ukraine toll an elusive task

Quantifying the toll of Russia’s war in Ukraine remains an elusive goal a year into the conflict

Reuters

France won't sign G20 communique unless it strongly condemns Russia

France will not sign off on a G20 communique unless it contains the same denunciation of Russia's invasion of Ukraine as it did last year, its finance minister said on Friday on the sidelines of a G20 meeting in India.

360info

How Sri Lanka sleepwalked over a debt cliff

The issues that led Sri Lanka to become an economic basket case in 2022 serve as a warning for other nations.

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360info

Creditors, politicians and 'morons': who's really caught in the government debt trap?

When nations get caught in spiralling debt, it’s future generations who will end up paying the price.

Al Jazeera

Severe dollar crisis hobbles Bangladesh businesses

The import-dependent nation is facing economic hardship in the wake of Russia’s invasion of Ukraine as prices shoot up.

Reuters

Germany supporting Ukraine, now others must deliver - German finance minister

Germany is already strongly supporting Ukraine and now other countries must do their part, German Finance Minister Christian Lindner said on Thursday after a meeting of the Group of Seven (G7)in the Indian city of Bengaluru.

The Guardian - UK

Pakistan’s fresh £580m loan from China intensifies debt burden fears

Loan is on top of £25bn that cash-strapped Islamabad already owes Beijing and Chinese commercial banks

Reuters

Yellen, G7 urge more aid for Ukraine and adherence to Russia sanctions

Finance ministers from the United States and its G7 allies called for more financial support for Ukraine on Thursday and vowed to maintain tough sanctions on Russia on the eve of the first anniversary of Moscow's invasion.

The Times of India

Fly economy: Pakistan’s belt-tightening begins in high places

ISLAMABAD: Pakistani ministers can no longer fly business class or stay in five-star hotels abroad. And the government thanks them for taking salary cuts.

Tribune News Service

G-7 to extend crucial support for Ukraine’s IMF funding bid

Group of Seven nations plan to offer key support for Ukraine’s effort to access International Monetary Fund financing by the end of March as IMF officials have begun talks with the U.S., people familiar with the matter said.

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