Latest International Monetary Fund News
IMF says Sri Lanka needs to boost reforms and collect more taxes for its bailout funding package
COLOMBO, Sri Lanka (AP) — Sri Lanka has so far failed to make enough progress in boosting tax collection and other economic reforms for the International Monetary Fund to release a second tranche of $330 million in the country's $2.9 billion bailout from bankruptcy, the IMF said. ...
IMF warns Lebanon that the country is still facing enormous challenges, years after a meltdown began
BEIRUT (AP) — Four years after Lebanon’s historic meltdown began, the small nation is still facing “enormous economic challenges,” with a collapsed banking sector, eroding public services, deteriorating infrastructure and worsening poverty, the International Monetary Fund warned Friday. ...
Suriname prepares for its first offshore oil project that is expected to ease deep poverty
PARAMARIBO, Suriname (AP) — Suriname for the first time in its history will see offshore oil drilling in its waters after French company TotalEnergies on Wednesday announced a $9 billion project expected to boost the impoverished country’s economy and ease austerity measures imposed by the...
Biden to use G20 summit and Vietnam visit to highlight US as trustworthy alternative to China
WASHINGTON (AP) — President Joe Biden wants to show the world at the Group of 20 summit in India and during a stop in Vietnam that the United States and its like-minded allies are better economic and security partners than China. White House officials said Biden, who departed...
Pakistani traders strike countrywide against high inflation and utility bills
ISLAMABAD (AP) — Pakistani traders on Saturday went on strike against the soaring cost of living, including higher fuel and utility bills and record depreciation of the rupee against the dollar, which has led to widespread discontent among the public. The traders pulled their...
Four years into crisis, Lebanon's leaders hope tourism boom will help bypass reforms in IMF bailout
BEIRUT (AP) — Four years into its historic economic meltdown, Lebanon’s political elites, masters at survival, are pushing for a recovery that would sidestep tough reforms demanded by the International Monetary Fund. Economic experts and former officials involved in designing...
Argentina's anti-establishment candidate Milei engages IMF in economic talks after shock primary win
BUENOS AIRES, Argentina (AP) — Argentina’s right-wing populist presidential candidate Javier Milei met Friday with International Monetary Fund officials to explain his economic proposals for the country, days after he became the surprise front-runner for the October election. ...
Forensic audit into Lebanon's central bank reveals misconduct and 'illegitimate' commissions
BEIRUT (AP) — A forensic audit into Lebanon’s central bank by a New York-based company has revealed yearslong misconduct by the bank's former governor and $111 million in “illegitimate commissions,” according to a report by the company. It's the latest chapter in the saga of...
Beijing has invested $25.4B in Pakistan over the last decade, Chinese vice premier says
ISLAMABAD (AP) — China has invested $25.4 billion in Pakistan over the past decade for projects ranging from roads to power plants, China's vice premier said Monday, as the two countries celebrated the 10th anniversary of the so-called Belt and Road Initiative. The initiative, also...
IMF agrees to release $7.5 billion to cash-strapped Argentina as its economy reels from drought
BUENOS AIRES, Argentina (AP) — The International Monetary Fund said Friday that it reached an agreement with Argentina that would open the door for the cash-strapped South American country to receive $7.5 billion over the next few months as part of an existing program. The...
