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The Latest Breaking News from International Monetary Fund

Sri Lanka gains IMF's provisional agreement for $2.9 billion loan

Sri Lanka has reached a preliminary agreement with the International Monetary Fund (IMF) for a loan of about $2.9 billion, the global lender said on Thursday, as the country seeks a way out its worst economic crisis in decades.

Reuters

Zambia wins IMF board approval for $1.3 billion loan program

Zambia won International Monetary Fund approval for a $1.3 billion, 38-month loan program on Wednesday, a crucial step in the southern African country's quest to restructure its debts and rebuild an economy ravaged by mismanagement and COVID-19.

Reuters

Lebanon President, amid Financial Meltdown, Returns Amended Bank Secrecy Law to Parliament

Lebanon's president on Wednesday returned to parliament an amended banking secrecy law that lawmakers passed around a month ago, saying it needed further tweaks to strengthen it. Parliament's passage of the legislation on July 26 was considered a modest first step towards reforms required for Lebanon to access $3 billion…

Asharq Al-Awsat

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Lebanon president, amid financial meltdown, returns amended bank secrecy law to parliament

Lebanon's president on Wednesday returned to parliament an amended banking secrecy law that lawmakers passed around a month ago, saying it needed further tweaks to strengthen it.

Reuters

China has waived the debt of some African countries. But it's not about refinancing

In mid-August, China’s Ministry of Foreign Affairs surprised the world with a series of announcements. Wang Yi, Beijing’s most senior diplomat, promised extensive debt relief for some of the world’s poorest countries. The announcement was made at the ministerial meeting of the Forum for China Africa Cooperation.

The Conversation

Japan Says Financial Aid for Tunisia Hinges on IMF Deal

Japan will consider financial assistance to Tunisia once a deal with the International Monetary Fund (IMF) is reached, head of the Japan International Cooperation Agency (JICA) Tanaka Akihiko has announced. Tunisian Minister of Economy and Planning Samir Saied signed last week a memorandum of understanding (MoU) for several projects in…

Asharq Al-Awsat

Exclusive-Crisis-hit Sri Lanka strikes preliminary loan pact with IMF - sources

Crisis-hit Sri Lanka has reached a preliminary agreement with the International Monetary Fund (IMF) for a bailout, four sources with direct knowledge of the plan have told Reuters.

Reuters

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Sri Lanka in 'final stage' of IMF talks; budget deficit widens

Crisis-hit Sri Lanka unveiled fresh measures on Tuesday in an interim budget aimed at clinching a bailout package from the International Monetary Fund, talks for which, the president said, had reached the "final stage".

Reuters

IMF board releases over $1.1 billion in Pakistan bailout funds

The International Monetary Fund (IMF) board approved the seventh and eighth reviews of Pakistan's bailout programme, allowing for a release of over $1.1 billion to the cash-strapped economy, the fund and the government said on Monday.

Reuters

International aid reaches Pakistan, where floods have claimed more than 1,000 lives

International aid was reaching Pakistan on Monday as evacuations were underway for widespread flooding that have claimed more than 1,000 lives this summer.

WEKU

Sri Lanka's president to cut spending in interim budget

Sri Lanka's president is set to slash expenditure when he presents an interim budget on Tuesday to see the crisis-ridden country through the rest of the year, amid discussions with the International Monetary Fund on a bailout package.

Reuters

Pakistan foreign minister says help needed after 'overwhelming' floods

Pakistan needs financial help to deal with "overwhelming" floods, its foreign minister said on Sunday, adding that he hoped financial institutions such as the International Monetary Fund would take the economic fallout into account.

Reuters

IMF: Saudi Arabia Reaping Benefits of Transparent Economic, Financial Policies

Saudi Arabia is reaping the fruits of success after implementing transparent economic and financial policies, good management of the coronavirus crisis and carrying out economic reforms that have led to increased job opportunities and continued improvement in living standards, revealed IMF Mission Chief for Saudi Arabia Amine Mati. The Kingdom’s…

Asharq Al-Awsat

Strangling Tunisia’s democracy

Kais Saied is a populist zealot who promises El Dorado even as he leads his country into a quagmire

The Hindu

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Reuters

IMF team holds talks with crisis-hit Sri Lanka on debt restructuring

An International Monetary Fund (IMF) team met Sri Lanka's president on Wednesday for talks on a bailout, including restructuring debt of about $29 billion, amid the nation's worst financial crisis in more than seven decades.

The Guardian - AU

China’s economy is losing momentum. What is happening and why does it matter for Australia?

Clouds are gathering over the economic powerhouse as Covid lockdowns, a distressed property market and population changes take a toll

The Times of India

Chinese satellite tracking ship leaves Sri Lanka after controversial visit

COLOMBO: A high-tech Chinese research ship docked at the strategically important Hambantota port departed from Sri Lankan waters on Monday after a controversial six-day visit.

The Hindu

Want permanent peace with India: Pakistan PM Shehbaz Sharif

Pakistan PM Shehbaz Sharif says, ‘War never an option to resolve Kashmir issue.’

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The Independent UK

IMF fees on war-torn countries closer to elimination

The International Monetary Fund is facing pressure to eliminate, or at least, reevaluate how it imposes fees on loans it disperses to needy countries like war-torn Ukraine — which is one of the fund’s biggest borrowers

Reuters

IMF eyes creditor assurances as it prepares Sri Lanka visit

The International Monetary Fund said it will need "adequate assurances" from Sri Lanka's creditors for a new program as it prepares a visit to Colombo later this month.

Reuters

Analysis-Years of political crises in Peru are finally hitting its economy

Since 2011, Peruvians have lived under seven presidents and seen four ex-leaders detained or wanted on corruption allegations. Yet, in the same period Peru has held onto the unlikely title of the fastest growing major economy in Latin America.

The Independent UK

Sri Lanka hopes to reach initial agreement with IMF for help

Sri Lanka’s central bank chief says he is hopeful the crisis-ridden island nation can reach a preliminary agreement that could lead to a bailout package with the International Monetary Fund when officials from the financial institution visit Sri Lanka later this month

Asharq Al-Awsat

Egypt Says Central Bank Governor Resigns

President Abdel Fattah el-Sisi on Wednesday accepted the resignation of central bank governor Tarek Amer and named him a presidential adviser, the Egyptian leader' office said in a statement. The brief statement offered no reasons for Amer's resignation. He had been appointed as governor of the central bank in November…

Reuters

Analysis-As economy wilts, Argentina's Massa seeks to sow hope with farm chiefs

The "superminister" tasked with rescuing Argentina's crisis-racked economy needs cash now, and so just days into the job he has launched a charm offensive to win over farm industry titans to access crucial debt forgiveness ahead of a looming deadline.

The Times of India

IMF money to arrive in Pakistan by August-end: Report

ISLAMABAD: The IMF's executive board will meet on August 29 to approve a bailout package for cash-strapped Pakistan within this month, including the pending disbursement of about $1.18 billion, a media report said on Saturday.

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