Latest International Monetary Fund News

FILE - In this Nov.13, 2018 file photo, Jihad Azour, the IMF's director of the Middle East and Central Asia Department reacts during his press conference in Dubai, United Arab Emirates. The coronavirus pandemic is hitting countries in the Middle East in wildly different ways, but nearly all are in the throes of an economic recession this year and all but two, Lebanon and Oman are expected to see some level of economic growth next year, according to the latest report published by the International Monetary Fund on Monday, Oct. 19, 2020. (AP Photo/Kamran Jebreili, File)

IMF: Nearly all Mideast economies hit by pandemic recession

Oct. 19, 2020 8:04 AM EDT

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...

FILE - In this June 17, 2020, file photo, people wearing masks to curb the spread of the new coronavirus wait in a line for a free meal at the Villa Maria del Triunfo district in Lima, Peru. The International Monetary Fund has sharply lowered its forecast for global growth this year because it envisions far more severe economic damage from the coronavirus than it did just two months ago. (AP Photo/Rodrigo Abd, FIle)

IMF warns global economy could be permanently scarred

Oct. 15, 2020 1:29 PM EDT

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...

FILE - In this Friday, Oct. 2, 2020 file photo, pedestrians pass the New York Stock Exchange,  in New York.  Stocks are pulling slightly higher in the early going on Wall Street, Wednesday, Oct. 14,  as investors pore over another batch of earnings reports from big U.S. companies. The S&P 500 added 0.3% in early trading Wednesday. A loss in the index a day earlier broke a four-day winning streak.  (AP Photo/John Minchillo, File)

Asian stocks follow Wall St lower as stimulus hopes fade

Oct. 15, 2020 12:07 AM EDT

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...

FILE - In this Monday, Sept. 21, 2020, file photo, the Wall Street sign is framed by a giant American flag hanging on the New York Stock Exchange. Stocks are edging lower on Wall Street in early trading, Tuesday, Oct. 13, 2020, as the market cools off following a four-day rally. (AP Photo/Mary Altaffer, File)

Asian shares track Wall Street decline on pandemic jitters

Oct. 14, 2020 12:08 AM EDT

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...

FILE - In this Feb. 14, 2020, file photo, Kristalina Georgieva, Managing Director of the International Monetary Fund, attends a session on the first day of the Munich Security Conference in Munich, Germany. Georgieva said that the global economy has started on a long climb to stronger growth with prospects looking a little better than four months ago. Georgieva said Tuesday, Oct. 6 that global economic activity suffered an unprecedented fall in the spring when 85% of the global economy was in lockdown for several weeks but currently the situation is “less dire” with many countries seeing better-than-expected rebounds in recent weeks (AP Photo/Jens Meyer, File)

IMF envisions a sharp 4.4% drop in global growth for 2020

Oct. 13, 2020 10:32 AM EDT

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...

FILE - In this Feb. 14, 2020, file photo, Kristalina Georgieva, Managing Director of the International Monetary Fund, attends a session on the first day of the Munich Security Conference in Munich, Germany. Georgieva said that the global economy has started on a long climb to stronger growth with prospects looking a little better than four months ago. Georgieva said Tuesday, Oct. 6 that global economic activity suffered an unprecedented fall in the spring when 85% of the global economy was in lockdown for several weeks but currently the situation is “less dire” with many countries seeing better-than-expected rebounds in recent weeks (AP Photo/Jens Meyer, File)

IMF head says global economy facing long climb to recovery

Oct. 6, 2020 8:15 AM EDT

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

Sep. 29, 2020 4:52 PM EDT

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...

FILE - In this May 24, 2020 file photo, Sudanese worshippers gather for Eid al-Fitr prayers, the Muslim holiday which starts at the conclusion of the holy fasting month of Ramadan, in Khartoum, Sudan. The International Monetary Fund has signed off on Sudan’s economic reform program, a move that can eventually allow the highly-indebted African country receive debt reliefs and hence rebuild its battered economy. The IMF released a statement Wednesday, Sept. 23, 2020,  saying that its staff will be monitoring the implementation of a “home-grown” economic restructuring program. (AP Photo/Marwan Ali, file)

IMF endorses Sudan's reform plan for battered economy

Sep. 24, 2020 7:49 AM EDT

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 President Emmanuel Macron arrives for a media conference in Beirut, Lebanon, Tuesday, Sept. 1, 2020. French President Emmanuel Macron issued a stern warning to Lebanon's political class, urging them to commit to serious reforms within few months or risk punitive action including sanctions, if they fail to deliver. (Gonzalo Fuentes/Pool via AP)

French leader warns Lebanese politicians of ‘last chance’

Sep. 1, 2020 5:18 PM EDT

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...