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The Latest Breaking News from International Monetary Fund

Sri Lankan president says regrets crisis, expands cabinet ahead of IMF talks

Sri Lanka's embattled president announced 17 new ministerial appointments on Monday, notably leaving out members of his own family, and expressed regret for his government's handling of a devastating economic crisis that has led to widespread protests.

Reuters

Russia-Ukraine updates: Putin honours troops accused of abuses

Ukraine news from April 18: Putin praises ‘mass heroism’ of brigade accused of carrying out mass killings in Bucha.

Al Jazeera

Lebanon Inches Closer to Abandoning its Banking Secrecy System

Lebanon might soon abandon its “banking secrecy” system, which has been in place for more than six decades. The move comes as part of conforming to the requirements that have been agreed upon by the country's executive and legislative authorities, and in preparation for converting the initial deal with the…

Asharq Al-Awsat

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Ukraine's prime minister, finance officials to visit Washington next week

Ukrainian Prime Minister Denys Shmyhal and top Ukrainian finance officials will visit Washington next week during the spring meetings of the International Monetary Fund and World Bank, sources familiar with the plans said on Friday.

Reuters

Sri Lanka stares at bankruptcy or redemption

The IMF agreement and fallout will be the central point of contention between the elite and the working people

The Hindu

Explained: What India is doing to help Sri Lanka in crisis

NEW DELHI: Sri Lanka is in the midst of an unprecedented economic crisis which is slowly but surely snowballing into a political crisis that threatens to dislodge the Rajapaksa brothers.

The Times of India

Bulgaria's growth prospects dented by war in Ukraine -IMF

The war in Ukraine is likely to hit Bulgaria's economic growth, speed up inflation and could pose credit risks, the International Monetary Fund said on Friday.

Reuters

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Russia asks Brazil to help keep sway at IMF, World Bank

Russia has asked Brazil for support in the International Monetary Fund, the World Bank and the G20 group of top economies to help it counter crippling sanctions imposed by the West since it invaded Ukraine, according to a letter seen by Reuters.

Reuters

IMF chief: Ukraine war and inflation threaten global economy

The head of the International Monetary Fund warned that Russia’s war against Ukraine was weakening the economic prospects for most of the world’s countries and called high inflation “a clear and present danger’’ to the global economy

The Independent UK

Sri Lanka seeking up to $4 billion as IMF talks set to start

COLOMBO: Sri Lanka needs between $3 billion to $4 billion this year to pull itself out of an unprecedented economic crisis and plans to start talks with the International Monetary Fund for help, Finance Minister Ali Sabry said.

The Times of India

Yellen talks tough on China, warning of fallout over Russia ties

WASHINGTON — Treasury Secretary Janet Yellen on Wednesday delivered a pointed warning to China on its alignment with Russia, suggesting potential economic consequences from the international community depending on how it approaches President Vladimir Putin’s invasion of Ukraine.

Tribune News Service

The Guardian view on the cost of living crisis: a global emergency

Editorial: Lashed by Covid and soaring prices for food and fuel, a quarter of a billion people face falling into extreme poverty

The Guardian - UK

IMF, World Bank, WFP and WTO urge coordinated action on food security

The World Bank, International Monetary Fund, UN World Food Program and World Trade Organization on Wednesday called for urgent, coordinated action on food security, and appealed to countries to avoid banning food or fertilizer exports.

Reuters

Yellen: Don't help Russia evade sanctions, or else

A speech from the Treasury secretary puts Ukraine war at center of financial diplomacy.

Axios

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Reuters

Sri Lanka PM offers protesters talks as opposition eyes no-confidence vote

Sri Lanka's prime minister offered talks on Wednesday with protesters calling for the government to step down over its handling of an economic crisis as the opposition threatened to bring a no-confidence motion against it in parliament.

Bangkok Post

Sri Lanka declares default on external debt, first time in history

NEW DELHI: Sri Lanka declared on Tuesday that with critically low foreign exchange reserves, the crisis-hit country will default on its external public debt pending a bailout package from the International Monetary Fund.

The Conversation

What's happening in Sri Lanka and how did the economic crisis start?

The island nation of Sri Lanka is in the midst of one of the worst economic crises it’s ever seen. It has just defaulted on its foreign debts for the first time since its independence, and the country’s 22 million people are facing crippling 12-hour power cuts, and an extreme…

The Times of India

Explained: How Sri Lanka fell into debt trap, defaulted on foreign payments

NEW DELHI: Grappling with its worst economic crisis since the country got independence in 1948, Sri Lanka on Tuesday announced a default of $51 billion on foreign debt.

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Benzinga

South Asian Country Defaults On $51B External Debt Amid Concerns Of Food, Fuel Shortages

Amid the deepening financial crisis in the country, Sri Lanka defaulted on its $51 billion foreign debt, pending a bailout from the International Monetary Fund, with whom the talks are scheduled for the end of this month.

The Independent UK

Sri Lanka halts debt repayment pending IMF bailout plan

Sri Lanka's government says it is suspending its repayment of foreign debt, including bonds and government-to-government borrowings, pending the completion of a loan restructuring program with the International Monetary Fund to deal with the island nation’s worst economic crisis in decades

Reuters

Sri Lanka unilaterally suspends external debt payments, says it needs money for essentials

Sri Lanka's central bank said on Tuesday it had become "challenging and impossible" to repay external debt, as it tries to use its dwindling foreign exchange reserves to import essentials like fuel.

Reuters

IMF sets up administered account to allow donors to fund Ukraine

Ukraine's finance ministry on Monday welcomed the creation of a special new account set up by the International Monetary Fund to give bilateral donors and international organizations a secure way to send financial resources to war-torn Ukraine.

The Guardian - UK

BlackRock urged to delay debt repayments from crisis-torn Zambia

Anti-poverty campaigners say world’s largest fund manager refuses to reduce or delay payments on Zambia’s debt

The Hindu

India’s role in a disordered world

New Delhi can play an important role in shaping a new, more democratic, world order

The Times of India

Sri Lanka can overcome economic crisis provided Central Bank is allowed to run independently: Governor

COLOMBO: Exuding confidence in overcoming the unprecedented economic crisis, the newly appointed Governor of the Central Bank of Sri Lanka, Nandalal Weerasinghe said that one of the ways to overcome the current crisis situation is to allow the Central Bank to function independently.

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