Latest International Monetary Fund News

Public sector strike cripples cash-strapped Lebanon

Aug. 09, 2022 02:58 AM EDT

BEIRUT (AP) — Tarek Younes was once solidly middle class and felt he helped contribute to society as an inspector in the Lebanese government’s consumer protection agency. But the country's economic free-fall has eroded his income and civic pride. In his desperation, Younes has...

Argentina's latest economy minister warns he is no magician

Aug. 03, 2022 21:24 PM EDT

BUENOS AIRES, Argentina (AP) — Argentina’s third economy minister in a month was sworn in Wednesday, and as his first order of business Sergio Massa sought to bring down sky-high expectations for his tackling of the country's economic troubles. He made clear he would not announce...

Sri Lankans bide time as leaders seek fix for economic woes

Aug. 02, 2022 01:10 AM EDT

COLOMBO, Sri Lanka (AP) — Sri Lankans who have endured months of fuel and food shortages are bracing for more pain as a newly installed government scrambles to find solutions to the Indian Ocean nation's economic emergency. Like many others, fish monger Gamini Mallawarachchi says...

Pakistan military chief seeks US help on release of IMF loan

Jul. 30, 2022 15:49 PM EDT

ISLAMABAD (AP) — Pakistan’s powerful army chief has contacted Washington, seeking U.S. help in securing an early release of a crucial $1.7 billion installment from the International Monetary Fund to his country, struggling with a deepening economic crisis, Pakistani officials said Saturday. ...

Sri Lanka leader says IMF agreement pushed back after unrest

Jul. 30, 2022 10:37 AM EDT

COLOMBO, Sri Lanka (AP) — Sri Lanka’s president said Saturday that an agreement with the International Monetary Fund to help pull the bankrupt nation out of its economic crisis has been pushed back to September because of unrest over the past weeks. President Ranil...

Argentina names economy 'super minister' as crisis deepens

Jul. 28, 2022 19:52 PM EDT

BUENOS AIRES, Argentina (AP) — Argentina's government announced the appointment of an economic “super minister” Thursday, the third economy minister in less than a month as the country struggles with high inflation and a slumping currency. Sergio Massa, the head of Congress'...

Rights groups urge Sri Lanka not to use force on protesters

Jul. 23, 2022 11:07 AM EDT

COLOMBO, Sri Lanka (AP) — International human rights groups on Saturday urged Sri Lanka’s new president to immediately order security forces to cease use of force against protesters after troops and police cleared their main camp following months of demonstrations over the country’s economic...

New Sri Lankan president sworn in, police clear protest site

Jul. 21, 2022 22:17 PM EDT

COLOMBO, Sri Lanka (AP) — Veteran politician Ranil Wickremesinghe was sworn in as Sri Lanka's new president Thursday to take charge of a nation bitterly angry that he will remain in power amid an unprecedented economic crisis. Sri Lankans have taken to the streets for months to...

Election of unpopular Sri Lankan PM invites more turmoil

Jul. 20, 2022 15:04 PM EDT

COLOMBO, Sri Lanka (AP) — Sri Lankan lawmakers on Wednesday elected the unpopular prime minister as their new president, a choice that risked reigniting turmoil in the South Asian nation reeling from economic collapse and months of round-the-clock protests. The crisis has already...

Pakistan's ex-premier Khan warns of economic 'collapse'

Jul. 20, 2022 14:25 PM EDT

ISLAMABAD (AP) — Pakistan's former prime minister said Wednesday that the government of premier Shahbaz Sharif is mismanaging the country’s fragile economy. Imran Khan's remarks to journalists at his residence in Islamabad came hours after Pakistan’s currency plummeted to an...