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The Latest Breaking News from International Monetary Fund

Ukraine Requests 'Emergency Financing' from IMF

Ukraine has requested additional aid from the IMF following the Russian invasion, the fund's leader Kristalina Georgieva said Friday. The crisis lender has an existing $2.2 billion aid program with Kyiv and "the authorities have also requested IMF emergency financing," Georgieva said in a statement. The fund's board met to…

Asharq Al-Awsat

World Bank preparing ways to support Ukraine as fallout assessed

The World Bank said on Thursday it was preparing options to provide immediate support to Ukraine's government, as the development lender and the International Monetary Fund assess the economic fallout from the conflict in Ukraine.

Reuters

Argentina says IMF deal 'imminent'; could go to Congress within days

Argentina is poised to "imminently" send an agreement with the International Monetary Fund (IMF) to the country's Congress for approval, government spokeswoman Gabriela Cerruti said on Thursday, signaling the critical debt deal is drawing near.

Reuters

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South Africa and international financial institutions: a liaison group could recalibrate relations

Since the onset of the COVID pandemic in 2020, South Africa has borrowed a total of about US$7 billion (about R106 billion). The money has come from the International Monetary Fund, the New Development Bank, the African Development Bank, and the World Bank.

The Conversation

El Salvador's president buys Bitcoins 'naked,' he boasts. His experiment is costing his nation millions

SAN SALVADOR, El Salvador — Four months into El Salvador's experiment as the first and only country in the world to adopt Bitcoin as legal currency, the International Monetary Fund had seen enough.

Los Angeles Times

IMF Reports ‘Good Progress’ in Tunisia Talks

The International Monetary Fund said on Wednesday it had made "good progress" in talks with Tunisia ultimately aimed at a possible rescue package to avert what economists fear is a rapidly looming crisis in the country's public finances. The fund on Tuesday completed a week of online meetings with Tunisian…

Asharq Al-Awsat

IMF Calls for Structural Economic Reforms in Tunisia

The International Monetary Fund (IMF) mission concluded virtual talks on Tunisia by calling on the authorities to implement structural economic reforms. Tunisian sources reported that the Fund stressed the need to reduce subsidies on essential goods such as petrol and staple foods, adding that state resources should be invested in…

Asharq Al-Awsat

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Ghana's debt makes development impossible: here are some solutions

By the year 2000, the government of Ghana had borrowed so much that the country was in debt distress. It then subscribed to the Heavily Indebted Poor Countries initiative of the International Monetary Fund and World Bank. Consequently, much of the country’s external debt of over US$4 billion was written…

The Conversation

Tunisia Meets the IMF: What's at Stake?

Tunisia and the International Monetary Fund are in preliminary talks, with an eye on a potential multi-billion-dollar rescue deal for an economy plagued by recession, public debt, inflation and unemployment. The North African nation on Monday started talks with the Washington-based crisis lender, which has called for "deep reforms" and…

Asharq Al-Awsat

Costa Rican presidential candidate says he would change IMF agreement

Costa Rica's leading presidential candidate Jose Maria Figueres said he would negotiate adjustments to the country's billion-dollar agreement with the International Monetary Fund (IMF) if elected, an effort to contrast his policy with the outgoing president.

Reuters

'May be soon': Argentina's $40 billion IMF deal trundles closer despite push-back

Argentina's deal with the International Monetary Fund (IMF) to refinance over $40 billion in debts is trudging closer to the finish line, despite protests in the South American country that has a long and uneasy history with the global lender.

Reuters

Exclusive-Voting delays risk starving Somalia of budget funds, says IMF

A key IMF-supported programme funding military wages and other essential services in Somalia could expire in May if there are any further delays to elections, the chief International Monetary Fund representative in the country said.

Reuters

Tunisians Fear More Economic Pain as IMF Talks Loom

Every day at the family grocery stall in a Tunis market, Bilel Jani sees the reality of a biting economic crisis, which for many has overshadowed Tunisia's latest political turmoil. "People here are poor," he said, handing a meagre bag of olives to a customer. "Most of our customers are…

Asharq Al-Awsat

India calls for more multi-lateral funding to prepare for future pandemics

India on Thursday urged the world's biggest 20 economies (G20) to make joint efforts to ensure increased multi-lateral funding by global institutions including the International Monetary Fund to prepare for future pandemics.

Reuters

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Asharq Al-Awsat

Tunisia Says World Bank to Lend it $400 Mln

The World Bank will lend Tunisia about $400 million to finance social reforms, the Tunisian government said on Tuesday, as it started talks with the International Monetary Fund on economic reforms. The country, which is suffering from a financial crisis, is seeking to obtain a rescue package from the IMF…

France 24

EU-African Union summit: The economic issues and money on the table

European Union leaders are meeting with their counterparts from the African Union in Brussels this Thursday. Several major economic issues will be discussed, including the €150 billion investment plan promised by EU Commission President Ursula von der Leyen. Ahead of that gathering, French President Emmanuel Macron promised a deal on…

Asharq Al-Awsat

Jordan to Push Ahead with IMF-Backed Reforms

Jordan will accelerate the momentum of IMF-backed structural reforms in 2022 to help a nascent recovery gather pace in an economy hard hit by the coronavirus pandemic and regional turmoil.

Reuters

World Bank relocates some staff from Ukraine, operations continue

The World Bank said on Monday it is temporarily relocating some of its staff from Ukraine and has suspended missions to the country due to the tensions on the border with Russia, but its Ukraine financing operations would continue.

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The Guardian - US

Incursion could start at ‘any time’, White House warns – as it happened

US relocating remaining embassy staff to Lviv, Antony Blinken confirms

Asharq Al-Awsat

Tunisia Gears Up for IMF Talks

Tunisian authorities are gearing up for talks with the International Monetary Fund that is set to hold a series of virtual meetings with the government in Tunis from Monday. “I can confirm that there would be an IMF mission February 14th to 22nd,” IMF spokesman Gerry Rice said at a…

Asharq Al-Awsat

IMF: More Work Needed for Lebanon Aid Deal

After two weeks of talks, the IMF said Friday it has advanced efforts to secure an aid program to help Lebanon overcome its "unprecedented and complex" economic crisis, but more work is needed. The country will need fiscal reforms that ensure it can manage its debt load as well as…

Asharq Al-Awsat

Lebanon PM Signals Difficulty in Agreeing Financial Recovery Plan

Prime Minister Najib Mikati indicated on Thursday difficulties in agreeing a financial recovery plan critical to steering Lebanon out of its devastating economic collapse, calling it a "Kamikaze operation". A plan for addressing a $70 billion hole in the financial system is seen as the starting point for talks with…

Reuters

Lebanese PM signals difficulty in agreeing financial recovery plan

Asharq Al-Awsat

IMF to Visit Tunisia over Economic Reforms, Central Bank Official Says

The International Monetary Fund will hold a virtual visit with Tunisian officials on Feb. 14 to discuss the government's economic reform program, a central bank official told Reuters on Wednesday. The North African country, which is suffering from a financial crisis, is seeking to obtain a rescue package from the…

Asharq Al-Awsat

Lebanese Maronite Patriarch Urges IMF Deal, Elections on Time

Lebanon’s senior Christian cleric called on Wednesday for the government to agree a plan with the International Monetary Fund to save the country from financial collapse and said elections should be held on time later this year. The Lebanese government began a new round of talks with the IMF last…

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