Latest International Monetary Fund News

Inflation, unrest challenge Bangladesh's 'miracle economy'

Sep. 23, 2022 01:55 AM EDT

DHAKA, Bangladesh (AP) — Standing in line to try to buy food, Rekha Begum is distraught. Like many others in Bangladesh, she is struggling to find affordable daily essentials like rice, lentils and onions. “I went to two other places, but they told me they don’t have supplies....

IMF criticizes Lebanese government over slow reforms

Sep. 21, 2022 13:08 PM EDT

BEIRUT (AP) — The International Monetary Fund on Wednesday said the Lebanese government's slowness to implement desperately-needed reforms was exacerbating the country's economic meltdown, even as officials met to discuss an urgent and long-delayed bailout. The IMF statement...

Lebanon aims to adopt long-delayed IMF reforms in October

Sep. 20, 2022 09:49 AM EDT

BEIRUT (AP) — Crisis-hit Lebanon hopes to adopt key reforms demanded by the International Monetary Fund for a long-delayed but urgently needed bailout before the end of next month if there is “political will”, Lebanon’s caretaker economy minister said Tuesday. Amin Salam...

Beirut protesters demand release of bank heist detainees

Sep. 19, 2022 10:59 AM EDT

BEIRUT (AP) — Protesters scuffled with Lebanese security forces Monday outside the Justice Ministry in Beirut, demanding the release of two people arrested last week during a bank heist. The clash came as a delegation from the International Monetary Fund held meetings in Beirut...

IMF set to provide $2.9 billion to help crisis-hit Sri Lanka

Sep. 01, 2022 04:42 AM EDT

COLOMBO, Sri Lanka (AP) — The International Monetary Fund announced Thursday it has reached a preliminary agreement to provide Sri Lanka with $2.9 billion over four years to help it recover from its worst economic crisis. The arrangement will help restore financial and...

UN seeks $160 million in emergency aid for Pakistan floods

Aug. 30, 2022 21:23 PM EDT

ISLAMABAD (AP) — The United Nations and Pakistan issued an appeal Tuesday for $160 million in emergency funding to help millions affected by record-breaking floods that have killed more than 1,160 people since mid-June. U.N. Secretary-General Antonio Guterres said Pakistan’s...

Sri Lanka's president says IMF talks nearing successful end

Aug. 30, 2022 08:02 AM EDT

COLOMBO, Sri Lanka (AP) — Sri Lanka’s president said Tuesday that his bankrupt country's talks with the International Monetary Fund for a rescue package have successfully reached final stages as he presented an amended budget that seeks to tame inflation and hike taxes. ...

Pakistan floods leave wrecked lives, half million in camps

Aug. 29, 2022 14:23 PM EDT

ISLAMABAD (AP) — Nearly a half million people crowded into camps after losing their homes in widespread flooding and the climate minister warned Monday that Pakistan is on the “front line” of the world's climate crisis after unprecedented monsoon rains wracked the country since mid-June,...

Russia's war at 6 months: A global economy in growing danger

Aug. 21, 2022 02:36 AM EDT

MECKENHEIM, Germany (AP) — Martin Kopf needs natural gas to run his family's company, Zinkpower GmbH, which rustproofs steel components in western Germany. Zinkpower's facility outside Bonn uses gas to keep 600 tons of zinc worth 2.5 million euros ($2.5 million) in a molten state...

IMF fees on war-torn countries closer to elimination

Aug. 20, 2022 00:45 AM EDT

WASHINGTON (AP) — The International Monetary Fund is facing pressure to reevaluate how it imposes fees on loans it disperses to needy countries like war-torn Ukraine — which is one of the fund’s biggest borrowers. The move comes as more countries will need to turn to the IMF,...