Latest International Monetary Fund News
Sri Lanka's Dissanayake a strong contender for president with his alliance's focus on working class
COLOMBO, Sri Lanka (AP) — A political alliance centered on the working class has emerged as a strong contender in Sri Lanka's presidential race, announcing itself to be the agent of change that millions of people called for when an unprecedented economic crisis led to disillusionment with...
39 candidates are approved for Sri Lanka's presidential election, the highest number ever
COLOMBO, Sri Lanka (AP) — Sri Lanka’s elections commission on Thursday accepted applications from a record 39 candidates to run in next month’s presidential election, which will decide the course of the country's financial reforms to survive an unprecedented economic crisis. ...
Price instability rocks Ethiopia as it reels from foreign exchange rate reforms
ADDIS ABABA, Ethiopia (AP) — The prices on the menu have been erased at a small hotel in a suburb of Ethiopia's capital. That was no mistake, the waiters said, as businesses in Addis Ababa struggle to keep up with spiraling inflation since the government implemented a flexible...
Heir apparent to Sri Lanka's powerful Rajapaksa family will run in September's presidential election
COLOMBO, Sri Lanka (AP) — The man who is considered the heir apparent to the powerful Rajapaksa family in Sri Lanka will contest the presidential election in September, his political party said Wednesday, in an apparent bid to regain his family's lost power after a humiliating setback two years...
Egypt’s currency edges higher against the US dollar after price hikes
CAIRO (AP) — The Egyptian pound is sliding against foreign currencies, inching nearer to 50 per U.S. dollar after a recent hike in subway fares and fuel prices. The currency reached 49.16 to the U.S. dollar Tuesday, the Central Bank of Egypt posted on its website. ...
Ethiopia's currency dives by 30% as IMF-backed reforms to stabilize the economy take effect
ADDIS ABABA, Ethiopia (AP) — Ethiopia's currency lost 30% of its value Tuesday, the day after the central bank began implementing a flexible exchange rate policy backed by the International Monetary Fund as part of new measures to stabilize the eastern African nation's economy. ...
IMF's economic view: Brighter outlook for China and India but tepid global growth
WASHINGTON (AP) — The International Monetary Fund on Tuesday upgraded its economic outlook this year for China, India and Europe while modestly lowering expectations for the United States and Japan. But it says worldwide progress against accelerating prices has been slowed by...
Argentina's inflation edges up in June, breaking a months-long streak in a blow to President Milei
BUENOS AIRES, Argentina (AP) — A closely watched measure of inflation in Argentina was stronger than the libertarian government of President Javier Milei would have hoped on Friday, as the official statistics agency reported prices edging up in June and breaking a months-long streak of declines....
Pakistan reaches new $7 billion loan deal with IMF
Pakistan has reached a staff-level agreement for a new $7 billion loan deal, the International Monetary Fund said Friday, the country's latest turn to the global lender for help in propping up its economy and dealing with its debts through big bailouts. Earlier this year, the IMF...
Kenya's president warns of huge consequences after his effort to address an $80 billion debt fails
NAIROBI, Kenya (AP) — The ballooning debt in East Africa's economic hub of Kenya is expected to grow even more after deadly protests forced the rejection of a finance bill that President William Ruto said was needed to raise revenue. He now warns “it will have huge consequences.” ...
