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The Latest Breaking News from International Monetary Fund

As global food crisis looms, Sri Lanka offers a cautionary tale

Sri Lanka’s government finally began bailout talks with IMF officials this week after a crippling delay exacerbated a longstanding economic crisis. But as food prices soar amid an impending global food shortage sparked by the Ukraine conflict, Sri Lankans are paying a heavy price for the government’s mismanagement, nepotism and…

France 24

IMF holds talks in Sri Lanka as cabinet moves to cut president's powers

An International Monetary Fund (IMF) team began bailout talks in Sri Lanka on Monday, as the country's cabinet cleared a constitutional amendment to dilute presidential powers that could assuage protesters amid rising tensions.

Reuters

Tunisian party says will not recognise any deal with international lenders

One of Tunisia's main political parties, the Constitutional Free Party, said on Sunday it would not recognise any agreement that Tunis makes with international lenders in exchange for unpopular reforms, the latest threat to a possible deal with the International Monetary Fund.

Reuters

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India has really helped us during this crisis: Ranil Wickremesinghe

Sri Lanka’s new PM sounds surprisingly upbeat in possibly the toughest assignment of his long political career

The Hindu

Ecuador should follow its own path, not IMF's, says protest leader

Ecuador's President Guillermo Lasso should be less focused on following International Monetary Fund (IMF) policies if he is to fix the economic and social problems his people live each day, indigenous protest leader Leonidas Iza said on Friday.

Reuters

Public workers strike in Tunisia, signaling national crisis

A nationwide public sector strike in Tunisia is poised to paralyze land and air transportation and other vital activities with the North African nation already in the midst of a deteriorating economic crisis

The Independent UK

Public Workers Strike in Tunisia

A nationwide public sector strike in Tunisia is poised to paralyze land and air transportation and other vital activities Thursday with the North African nation already in the midst of a deteriorating economic crisis. Tunisia’s powerful General Labour Union (UGTT) announced the walkout, which was expected to include 159 state…

Asharq Al-Awsat

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Tunisia International Flights to be Cancelled on Thursday

Tunisia International Flights to be Cancelled on Thursday All international flights to and from Tunisia will be cancelled on Thursday due to a national public strike called by the powerful UGTT union, a union official told Reuters on Wednesday. The union called a nationwide strike by employees in state companies…

Asharq Al-Awsat

Pakistanis urged to cut down on tea consumption to fix ailing economy

If rising fuel prices, inflation and political turmoil weren't enough, Pakistanis have now been asked to cut down on their daily tea intake.

ABC News

Tourism key to recovery

Tourism will be the key engine supporting Thailand's economic recovery, replacing the slowing export sector, says the Economic Intelligence Center (EIC), a research house under Siam Commercial Bank.

Bangkok Post

Sri Lanka gives public workers extra day off to grow food

Sri Lanka has approved a four-day work week for public sector workers to help them cope with a chronic fuel shortage and encourage them to grow food, the government said on Tuesday, as it struggles with its worst financial crisis in decades.

Reuters

Pakistan to raise taxes on rich, ban some car buying to secure IMF bailout

Pakistan Finance Minister Miftah Ismail said on Friday the government would raise taxes on the rich and ban government officials from buying new cars, amid pressure to control the fiscal deficit and secure International Monetary Fund (IMF) bailout money.

Reuters

Sri Lanka tycoon Dhammika Perera to replace president's brother in parliament

One of Sri Lanka's richest businessmen will replace the president's brother in parliament, a ruling party official said on Friday, as the cash-strapped country moves forward on talks for a bailout plan with the International Monetary Fund (IMF).

Reuters

IMF delegation to visit crisis-hit Sri Lanka this month for talks

An International Monetary Fund (IMF) delegation will visit Sri Lanka on June 20 for talks as the country looks for a loan programme from the lender to deal with its worst economic crisis in seven decades, the prime minister's office said on Friday.

Reuters

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The Hindu

IMF welcomes India's decision to relax ban on wheat exports

However, it is concerned over curtaiing exports of commodity goods, including food and fuel by 30 other nations.

Asharq Al-Awsat

IMF Names Resident Representative for Lebanon to Continue Reform Talks

The International Monetary Fund (IMF) has picked a resident representative for Lebanon, the multilateral lender's spokesman Gerry Rice said on Thursday. Rice, who did not specify who had been named for the position, added the IMF will continue its talks on an economic reform program with the country. The IMF…

The Hindu

Willing to work with India to help Sri Lanka, says China

New Delhi has made great efforts to help Colombo: Beijing

The Hindu

The shadows over global growth recovery are long

The developing economies have to prepare for tighter financial conditions and spillovers from geopolitical volatility

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The Conversation

Beyond boats, beef and Bali: Albanese's unfinished business with Indonesia

Indonesia may be the world’s fourth most populous nation – with more than 270 million people – but Australian news coverage of it typically involves three things: beef, boats and Bali.

Tribune News Service

Sri Lanka president vows to finish term, won’t run for re-election

COLOMBO, Sri Lanka — President Gotabaya Rajapaksa vowed to finish the remaining two years in his term despite month-slong street protests calling for his ouster, but won’t stand for re-election as he focuses on fixing a financial mess that tipped Sri Lanka into its worst-ever economic crisis.

Inverse

You need to watch Tom Cruise’s most gravity-defying action thriller on Netflix ASAP

Brad Bird proved he was the perfect choice to direct a 'Mission: Impossible' movie with 'Ghost Protocol.'

Reuters

Timeline: The Bolsheviks to Putin: a history of Russian defaults

In 1918, Soviet revolutionary Leon Trotsky told Western creditors aghast at the Bolsheviks' repudiation of Russia's external debt: "Gentlemen, you were warned."

Asharq Al-Awsat

Tunisian Union Announces National Strike in June

Tunisia’s powerful UGTT union on Tuesday called a national public strike for June after the government refused to increase wages, an escalation that may hinder the government's efforts to reach a deal with the International Monetary Fund. Tunisia faces a serious financial crisis and is seeking a $4 billion loan…

The News Lens

Why Young Protesters in Sri Lanka Are Wary of Traditional Politics

Sri Lanka is facing one of the worst economic crises in recent decades, triggering public anger and mass protests, which have fostered unity across ethnic and religious lines.

The Independent UK

Sri Lanka PM stresses urgency for economic reform plan

Sri Lanka’s prime minister says that he will quickly prepare an economic reform program and seek approval from the International Monetary Fund

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