Latest International Monetary Fund News

Ukrainian President Volodymyr Zelenskiy wearing a face mask to protect against coronavirus speaks during an extraordinary parliamentary session in Kyiv, Ukraine, Monday, March 30, 2020. Ukraine has been under quarantine since March 12. The new coronavirus causes mild or moderate symptoms for most people, but for some, especially older adults and people with existing health problems, it can cause more severe illness or death. (AP Photo)

Ukraine approves legislation in a bid for IMF aid

Mar. 31, 2020 4:29 AM EDT

KYIV, Ukraine (AP) — Ukraine's parliament has voted to lift the ban on the sale of farmland in a move that would allow the country to get $8 billion worth of aid from the International Monetary Fund. The bill, long pushed by economists to stimulate investment in agriculture, was approved by 259 votes out...

FILE - In this Feb. 14, 2020 file photo, Kristalina Georgieva, Managing Director of the International Monetary Fund, attends a session on the first day of the Munich Security Conference in Munich, Germany.   Georgieva said Friday, March 27,  it is clear that the global economy has now entered a recession that could be as bad or worse than the 2009 downturn.  She said the 189-nation lending agency was forecasting a recovery in 2021, saying it could be a “sizable rebound.” But she said this would only occur if nations succeed in containing the coronavirus and limiting the economic damage(AP Photo/Jens Meyer, File)

IMF head says global economy now in recession

Mar. 27, 2020 3:55 PM EDT

WASHINGTON (AP) — The head of the International Monetary Fund said Friday it is clear that the global economy has now entered a recession that could be as bad or worse than the 2009 downturn. IMF Managing Director Kristalina Georgieva said the 189-nation lending agency was forecasting a recovery in 2021,...

In this photo released by Saudi Press Agency, SPA, Saudi King Salman, chairs a video call of world leaders from the Group of 20 and other international bodies and organizations, from his office in Riyadh, Saudi Arabia, Thursday, March 26, 2020. The meeting is aimed at coordinating the global response to the fast-spreading coronavirus, which has shuttered businesses and forced well over a quarter of the world's population into home isolation. (Saudi Press Agency via AP)

World leaders vow to coordinate virus response in video call

Mar. 26, 2020 6:02 PM EDT

DUBAI, United Arab Emirates (AP) — The head of the United Nations told leaders of the world’s 20 major industrialized nations during an emergency virtual summit Thursday that "we are at war with a virus — and not winning it” despite dramatic measures by countries to seal their borders,...

FILE - In this Feb. 27, 2020 file photo, Yazan, 1, sits with his mother before his heart surgery at the Tajoura National Heart Center in Tripoli, Libya. Yazan's odyssey from his small desert hometown to the hospital barely skirted the war's front lines. In conflict zones across the Middle East, the specter of the coronavirus looms large. Authorities in Yemen, Libya, Syria, Afghanistan and the Gaza Strip warn that health care systems gutted by years of war and unrest have left millions of people doubly vulnerable to the pandemic. For most people, the virus causes only mild or moderate symptoms. For some it can cause more severe illness.. (AP Photo/Felipe Dana, File)

Libya sees 1st virus case as more curfews called in Mideast

Mar. 24, 2020 8:42 PM EDT

CAIRO (AP) — Libya recorded its first confirmed case of the coronavirus on Tuesday, the U.N.-backed government announced, stoking concern that an outbreak could overwhelm the war-torn country's already weakened health care system. As the coronavirus pandemic sweeps across the Middle East, countries have...

Venezuela's President Nicolas Maduro speaks at a press conference at the Miraflores Presidential Palace in Caracas, Venezuela, Thursday, March 12, 2020. Maduro has suspended flights to Europe and Colombia for a month, citing concerns for the new coronavirus. Maduro added in a national broadcast that the illness has not yet been detected in Venezuela, despite it being confirmed in each bordering country, including Colombia, Brazil and Guyana.  (AP Photo/Matias Delacroix)

Virus fuels calls for sanctions relief on Iran, Venezuela

Mar. 23, 2020 4:51 PM EDT

MIAMI (AP) — From Caracas to Tehran, officials are calling on the Trump administration to ease crippling economic sanctions they contend are contributing to the growing death toll caused by the coronavirus pandemic. The idea has gained support from prominent leftists in the U.S., including Democratic...

People wearing protective masks as a precaution against the spread of the new coronavirus travel on a bus in Caracas, Venezuela, Tuesday, March 17, 2020. President Nicolas Maduro ordered citizens to stay home, and to wear a mask in public under a quarantine in a bid to control the spread of the coronavirus. The vast majority of people recover from the new virus.  (AP Photo/Ariana Cubillos)

IMF rejects Maduro's bid for emergency loan to fight virus

Mar. 17, 2020 11:26 PM EDT

MIAMI (AP) — The International Monetary Fund has quickly rejected a surprise request Tuesday by Venezuela for an emergency $5 billion loan to fight the new coronavirus, which threatens to push its already battered economy over the edge. An IMF spokesperson said the request can't be considered because there...

Medical personnel discuss patients that had been admitted for testing for the coronavirus at the entrance Central Maine Medical Center on Friday, March 13, 2020, in Lewiston, Maine. U.S. hospitals are setting up circus-like triage tents, calling doctors out of retirement, guarding their supplies of face masks and making plans to cancel elective surgery as they brace for an expected onslaught of coronavirus patients. (AP Photo/Robert F. Bukaty)

Business fallout: Apple goes online, Delta slashes flights

Mar. 13, 2020 5:04 PM EDT

Apple said its annual developers conference would take place entirely online this year, joining a growing list of companies that are canceling big, in-person events as the coronavirus spreads. Thousands of engineers and customers attend the Worldwide Developers Conference, or WWDC, which is in its 31st year....

Mourners wearing face masks and gloves pray over the body of former politburo official in the Revolutionary Guard Farzad Tazari, who died Monday after being infected with the new coronavirus, at the Behesht-e-Zahra cemetery just outside Tehran, Iran, Tuesday, March 10, 2020. Iran is the hardest-hit country in the Mideast by the new coronavirus, which sickens but largely doesn't kill those afflicted. (Mahmood Hosseini/Tasnim News Agency via AP)

Iran asks for billions in loans as virus death toll climbs

Mar. 12, 2020 2:59 PM EDT

TEHRAN, Iran (AP) — Iran said Thursday it asked the International Monetary Fund for a $5 billion loan to fight the coronavirus, the first time since the 1979 Islamic Revolution that it has sought such assistance, in a staggering admission of how fragile its economy has become amid the epidemic and...

Travelers at Seattle-Tacoma International Airport wear masks Tuesday, March 3, 2020, in SeaTac, Wash. Six of the 18 Western Washington residents with the coronavirus have died as health officials rush to test more suspected cases and communities brace for spread of the disease. All confirmed cases of the virus in Washington are in Snohomish and King counties. (AP Photo/Elaine Thompson)

Companies trim outlooks, travel and staff as virus spreads

Mar. 4, 2020 7:02 PM EST

GROUNDED AIRPLANES: United Airlines will cut international and U.S. flying, freeze hiring and ask employees to volunteer for unpaid leave as it struggles with weak demand for travel because of the new virus outbreak. United said Wednesday it will reduce passenger-carrying capacity 20% on international routes and...

Travelers at Seattle-Tacoma International Airport wear masks Tuesday, March 3, 2020, in SeaTac, Wash. Six of the 18 Western Washington residents with the coronavirus have died as health officials rush to test more suspected cases and communities brace for spread of the disease. All confirmed cases of the virus in Washington are in Snohomish and King counties. (AP Photo/Elaine Thompson)

The impact of spreading virus on businesses and economy

Mar. 3, 2020 6:43 PM EST

AID AVAILABLE: The World Bank announced Tuesday that it is making $12 billion available to provide immediate support to low-income countries dealing with the health and economic impacts of the coronavirus. World Bank President David Malpass said the money will go to help developing nations strengthen their health...