Latest International Monetary Fund News

Sri Lanka hopes to reach initial agreement with IMF for help

Aug. 18, 2022 20:45 PM EDT

COLOMBO, Sri Lanka (AP) — Sri Lanka's central bank chief said Thursday he hopes the government can reach a preliminary agreement that could lead to a bailout package with the International Monetary Fund when its officials visit the crisis-hit island nation later this month. The...

Canada minister: Not safe yet for Syrian refugees to go home

Aug. 17, 2022 16:19 PM EDT

BEIRUT (AP) — Syria is not safe yet for millions of refugees to start going back home, a Canadian minister cautioned during a visit to Lebanon on Wednesday. He spoke days after Lebanese officials announced a plan to start returning 15,000 Syrian refugees to their war-shattered country every...

Beirut bank standoff exposes desperation of economic crisis

Aug. 12, 2022 10:04 AM EDT

BEIRUT (AP) — A judge ordered a gunman who took up to 10 hostages at a Beirut bank to force the release of his trapped savings to stay behind bars Friday, apparently a bid to prevent copycats as desperation deepens over Lebanon's economic meltdown. A few dozen relatives of Bassam...

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...