Latest International Monetary Fund News

IMF: Vaccine inequity threatens Mideast's economic recovery

Apr. 11, 2021 07:06 AM EDT

DUBAI, United Arab Emirates (AP) — Middle East economies are recovering from the coronavirus pandemic faster than anticipated, largely due to the acceleration of mass inoculation campaigns and an increase in oil prices. But the International Monetary Fund warned Sunday that an uneven...

IMF policy panel endorses $650 billion increase in resources

Apr. 08, 2021 15:46 PM EDT

WASHINGTON (AP) — The International Monetary Fund on Thursday authorized a $650 billion expansion of the 190-nation lending institution's resources with the aim of providing more support for vulnerable countries as they battle the coronavirus pandemic. IMF Managing...

Fed's Powell: US nears full reopening to 'different economy'

Apr. 08, 2021 15:21 PM EDT

WASHINGTON (AP) — The U.S. economy, boosted by quickening vaccinations and signs of rapid hiring, is headed toward a strong recovery, Federal Reserve Chair Jerome Powell said Thursday. But he cautioned that not all will immediately benefit. ...

Major economies support $650 billion boost in IMF resources

Apr. 07, 2021 18:28 PM EDT

WASHINGTON (AP) — Finance officials of the world’s major economies on Wednesday agreed on a proposal to boost the resources of the International Monetary Fund by $650 billion as a way to provide more support to vulnerable countries struggling to deal with a global pandemic. ...

IMF upgrades forecast for 2021 global growth to a record 6%

Apr. 06, 2021 09:13 AM EDT

WASHINGTON (AP) — The rollout of COVID-19 vaccines and vast sums of government aid will accelerate global economic growth to a record high this year in a powerful rebound from the pandemic recession, the International Monetary Fund says in its latest forecast. The...

Yellen calls for minimum global corporate income tax

Apr. 05, 2021 17:23 PM EDT

WASHINGTON (AP) — U.S. Treasury Secretary Janet Yellen on Monday urged the adoption of a minimum global corporate income tax, an effort to at least partially offset any disadvantages that might arise from the Biden administration's proposed increase in the U.S. corporate tax rate. ...

IMF head: global growth prospects rising but dangers remain

Mar. 30, 2021 12:30 PM EDT

WASHINGTON (AP) — The head of the 190-nation International Monetary Fund says prospects for global growth have brightened since January, helped by a $1.9 trillion U.S. rescue package. But she warns that uneven progress in fighting the pandemic could jeopardize the economic gains. ...

G7 suggest boosting IMF reserves to help vulnerable nations

Mar. 19, 2021 13:06 PM EDT

LONDON (AP) — The Group of Seven leading industrial nations on Friday proposed bolstering the International Monetary Fund's reserves for the first time since 2009, so the Washington D.C.-based institution can provide more financial support to developing nations during the coronavirus...

Lebanese PM-designate: Cabinet needed to restore trust, hope

Mar. 18, 2021 16:36 PM EDT

BEIRUT (AP) — Lebanon’s prime minister-designate said Thursday that a government that could restart talks with the International Monetary Fund would be the main way to halt the country’s rapid economic collapse, adding there was still opportunity to form such a Cabinet. ...

Sudan announces managed currency float to revive economy

Feb. 21, 2021 08:49 AM EST

CAIRO (AP) — Sudan announced a managed flotation of its currency on Sunday, in an unprecedented but expected step to meet a major demand by international financial institutions to help transitional authorities overhaul the battered economy. The move is the boldest...