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The Latest Breaking News from Kristalina Georgieva

Pounds slips against dollar as Rishi Sunak delays Budget

Sterling still performing better than during Liz Truss’s disastrous tenure as prime minister

The Independent UK

Russian bombings of civilian infrastructure raise cost of Ukraine's recovery: IMF

Russia's latest strikes on civilian infrastructure have raised the cost of Ukraine's recovery and could see it needing close to $4 billion a month just to keep power and water supplies going, the head of the International Monetary Fund said on Wednesday.

Reuters

World Bank says Ukraine has tenfold increase in poverty due to war

Russia's attacks on civilian infrastructure in Ukrainian cities away from the front lines will complicate the dire economic situation facing the country, which has already seen a tenfold increase in poverty this year, a top World Bank official said on Saturday.

Reuters

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IMF meetings have exposed the fragmentation of the global economy

Countries have responded to a series of shocks by looking out for themselves, which could increase volatility and uncertainty

The Guardian - UK

Georgieva to meet with Egypt, Tunisia, confident of IMF 'backing them up'

International Monetary Fund chief Kristalina Georgieva said she would meet on Saturday with delegations from Egypt and Tunisia and was confident the global lender would be "backing them up."

Reuters

Kwasi Kwarteng: how ex-chancellor’s fate was sealed by IMF orthodoxy he fought against

Former occupant of No 11 Downing Street finally sacked after financial institution chief’s remarks in Washington

The Guardian - UK

IMF chief Georgieva says 'big policy issues' resolved in talks with Egypt

International Monetary Fund officials have resolved all "big policy issues" with Egyptian authorities in their discussions on a new lending program, and will meet again on Saturday, IMF Managing Director Kristalina Georgieva said Friday.

Reuters

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IMF Sees Middle East Growth at 5%

The Middle East is projected to grow at five percent this year, up from 4.1 percent in 2021.

Asharq Al-Awsat

IMF chief rebukes UK officials over ‘policy coherence’

Kristalina Georgieva told UK’s finance minister and central bank chief that their policies should not be contradictory.

Al Jazeera

Kwasi Kwarteng says he's not resigning as Chancellor despite 'inevitable' U-turn reports

KWASI Kwarteng appeared not to rule out a U-turn on corporation tax amid growing pressure to abandon more elements of the mini-budget that have…

The National (Scotland)

‘Desperate’ Liz Truss set to U-turn on corporation tax this weekend

‘Don’t prolong the pain’: IMF suggests government should accept swift climbdown

The Independent UK

Don’t wait for ‘inevitable’ U-turn on mini-Budget, George Osborne tells Liz Truss

Chances needed now, suggests former chancellor – as Priti Patel says ‘market forces’ could force reversal

The Independent UK

Pressure on Truss and Kwarteng to announce more U-turns as IMF hints at need for 'recalibration of policies'

IMF leaders also had a 'constructive' meeting with Kwarteng

Wales Online

Chancellor Kwasi Kwarteng refuses to rule out corporation tax U-turn amid mini-budget mayhem

Kwasi Kwarteng refused on Thursday to rule out another humiliating U-turn - this time on corporation tax - and stressed he was not about to quit as Chancellor.

Evening Standard

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The Independent UK

Expectations of imminent Truss U-turn on corporation tax

Rebuke for Kwasi Kwarteng’s budget from IMF boss in New York

Tribune News Service

War-torn Ukraine needs at least $3 billion a month in 2023, IMF says

Ukraine will need at least $3 billion a month next year to finance its wartime economy, which means allies will have to step up with more support, the head of the International Monetary Fund said.

Reuters

Ukraine's Zelenskiy appeals for $55 billion to cover budget gap and reconstruction

Ukrainian President Volodymyr Zelenskiy on Wednesday appealed to international donors to increase their financial support, saying more money was needed to rebuild schools and homes destroyed by months of Russian bombardment.

Asharq Al-Awsat

IMF Confirms Saudi Economy’s Growth Forecast in Coming Years

The International Monetary Fund (IMF) confirmed its economic growth forecast for Saudi Arabia for the current year at 7.6 percent, the exact forecasts for July and April. Earlier, the Fund increased its expectations twice for the Saudi economy in 2022, making the Kingdom the only country among the G20 whose…

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Tribune News Service

IMF, World Bank warn of increasing risk of global recession

The heads of the International Monetary Fund and World Bank warned of a rising risk of a global recession as advanced economies slow and faster inflation forces the Federal Reserve to keep raising interest rates, adding to the debt pressures on developing nations.

Asharq Al-Awsat

World Bank's Malpass, IMF's Georgieva See Rising Risks of Global Recession

World Bank President David Malpass and International Monetary Fund Managing Director Kristalina Georgieva warned on Monday of a growing risk of global recession and said inflation remained a continuing problem after Russia's invasion of Ukraine. "There's a risk and real danger of a world recession next year," Malpass said in…

The Guardian - UK

Kwasi Kwarteng buckles up for an awkward first date with the IMF

The chancellor is bound for Washington for talks with the organisation that blasted his mini-budget

The Independent UK

IMF warns of higher recession risk and darker global outlook

The International Monetary Fund is once again lowering its projections for global economic growth in 2023

The Guardian - UK

IMF chief warns world heading towards age of greater instability

Kristalina Georgieva points to ‘fundamental shift’, with fragile global ties and more frequent natural disasters

Asharq Al-Awsat

Saudi Arabia Signs MoU with IMF to Establish Regional Office in Riyadh

Saudi Arabia concluded a memorandum of understanding with the International Monetary Fund (IMF) to establish a regional office in Riyadh, which would boost its presence in the region and provide its economic recommendations to the countries of the Gulf and the region. Saudi Minister of Finance Mohammed al-Jadaan signed the…

Asharq Al-Awsat

IMF: 141 Million People Across Arab World Are Exposed to Food Insecurity

The International Monetary Fund said on Monday that up to 20 countries, many in Africa, could need emergency assistance to cope with the global food crisis. IMF Managing Director Kristalina Georgieva, speaking at a conference in Saudi Arabia, also said that 141 million people across the Arab world are exposed…

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