Latest International Monetary Fund News
IMF: Nearly all Mideast economies hit by pandemic recession
DUBAI, United Arab Emirates (AP) — The coronavirus pandemic has pushed nearly all Mideast nations into the throes of an economic recession this year, yet some rebound is expected as all but two — Lebanon and Oman — are anticipated to see some level of economic growth next year, according to a...
IMF warns global economy could be permanently scarred
WASHINGTON (AP) — The global economy's recovery from the pandemic recession is tentative and uneven and “marked by significant uncertainty” as confirmed coronavirus cases spread in many countries, international finance ministers warned Thursday. The policy-setting panel of the 189-nation...
Asian stocks follow Wall St lower as stimulus hopes fade
Asian stocks followed Wall Street lower on Thursday as hopes U.S. leaders will agree on a new economic stimulus before the Nov. 3 presidential election faded. Benchmarks in Shanghai, Tokyo and Hong Kong declined. Sydney advanced. In Seoul, the company that manages boy band BTS made its market debut amid criticism...
Asian shares track Wall Street decline on pandemic jitters
Shares were mostly lower in Asia on Wednesday after pandemic concerns snapped a four-day winning streak on Wall Street. Rising coronavirus counts in many countries are raising the urgency to develop vaccines and treatments and setbacks in that process tend to discourage investors. On Tuesday, independent...
IMF envisions a sharp 4.4% drop in global growth for 2020
WASHINGTON (AP) — The International Monetary Fund foresees a steep fall in international growth this year as the global economy struggles to recover from the pandemic-induced recession, its worst collapse in nearly a century. The IMF estimated Tuesday that the global economy will shrink 4.4% for 2020. That...
IMF head says global economy facing long climb to recovery
WASHINGTON (AP) — The head of the International Monetary Fund says that the global economy has started on a long climb to stronger growth with prospects looking a little better than four months ago. IMF Managing Director Kristalina Georgieva said Tuesday that global economic activity suffered an...
Ex-IMF chief acquitted in Spanish bank stock listing case
MADRID (AP) — Spain’s National Court has acquitted 34 people who were tried over the stock market listing of financial firm Bankia, including former International Monetary Fund chief Rodrigo Rato. Rato, who is serving a 4 1/2-year prison sentence for a separate case involving the misuse of Bankia's...
IMF endorses Sudan's reform plan for battered economy
CAIRO (AP) — The International Monetary Fund has signed off on Sudan's economic reform program, a move that can eventually allow the highly-indebted African country to get debt relief and move ahead with rebuilding its battered economy as it transitions to democratic rule. Until the end of June 2021, IMF...
French leader warns Lebanese politicians of ‘last chance’
BEIRUT (AP) — French President Emmanuel Macron said Lebanese politicians have committed to a road map that begins with a government of experts to be formed in two weeks and quickly enacts reforms. Speaking at the end of two days of meetings in Beirut, Macron said France was committed to helping Lebanon...
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