Latest International Monetary Fund News

Alain Bifani, the director general of Lebanon's Finance Ministry and a member of the country's team negotiating with the International Monetary Fund, speaks during a press conference, at the Press Club, in Beirut, Lebanon, Monday, June 29, 2020. Bifani who had held the post for 20 years resigned on Monday amid a worsening economic and financial crisis, the ministry said. (AP Photo/Hassan Ammar)

Senior Lebanese finance official resigns amid crisis

Jun. 29, 2020 11:55 AM EDT

BEIRUT (AP) — The director general of Lebanon’s Finance Ministry, who was on the team negotiating an emergency bailout from the International Monetary Fund, resigned from his post on Monday amid a rapidly worsening economic and financial crisis. Alain Bifani, a veteran civil servant who held his...

Hospital beds are prepared to receive COVID-19 patients at Ain Shams University Field Hospital in Cairo, Egypt, Wednesday, June 17, 2020. The hospital has a capacity of 179 beds including 11 Intensive Care Units, Dr. Ashraf Omar, dean of the medical school said Wednesday in televised comments. (AP Photo/Nariman El-Mofty)

Egypt secures $5.2 billion IMF loan amid coronavirus fallout

Jun. 26, 2020 6:18 PM EDT

CAIRO (AP) — The International Monetary Fund on Friday approved Egypt’s request for a $5.2 billion loan as the country’s economy reels from the financial fallout of the coronavirus pandemic. The one-year arrangement, which comes on top of a separate $2.77 billion emergency financing announced...

FILE - In this Nov. 19, 2019 file photo, people gather as they celebrate first anniversary of mass protests that led to the ouster of former president and longtime autocrat Omar al-Bashir. in Khartoum, Sudan. On Thursday, June 25, 2020, the United States, Germany and France have pledged hundreds of millions in aid to Sudan. The funds are intended to help the struggling African nation a year after pro-democracy protesters forced the removal of its long-time autocratic ruler, Omar al-Bashir.(AP Photo, File)

Donors pledge $1.8 billion for Sudan's democratic transition

Jun. 25, 2020 5:56 PM EDT

BERLIN (AP) — Western and Arab countries pledged a total $1.8 billion in aid to Sudan on Thursday to help the struggling African nation a year after pro-democracy protesters forced the removal of the country's longtime autocratic ruler, Omar al-Bashir. The pledges from 40 countries, including an additional...

IMF says initial deal reached with Sudan to reform economy

Jun. 24, 2020 3:47 PM EDT

CAIRO (AP) — The International Monetary Fund said Wednesday it reached an initial agreement with Sudan’s transitional government on a reform deal to help the African nation face daunting economic challenges that threaten its transition to democracy, even as it battles the coronavirus pandemic. The...

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. The International Monetary Fund has sharply lowered its forecast for global growth this year because it envisions far more severe economic damage from the coronavirus than it did just two months ago. (AP Photo/Jens Meyer, File)

IMF downgrades outlook for global economy in face of virus

Jun. 24, 2020 1:59 PM EDT

WASHINGTON (AP) — The International Monetary Fund has sharply lowered its forecast for global growth this year because it envisions far more severe economic damage from the coronavirus than it did just two months ago. The IMF predicts that the global economy will shrink 4.9% this year, significantly worse...

FILE - In this June 10, 2020 file photo, pedestrians walk through a downtown shopping district in Sao Paulo, Brazil. The International Monetary Fund released an updated outlook Wednesday, June 24, forecasting a nearly double-digit recession for Latin America and the Caribbean in 2020. (AP Photo/Andre Penner, File)

IMF forecasts deeper Latin America recession in 2020

Jun. 24, 2020 11:55 AM EDT

RIO DE JANEIRO (AP) — The International Monetary Fund is forecasting a nearly double-digit recession for Latin America and the Caribbean in 2020 – a contraction of 9.4% – as the region is dragged down by its two largest economies, which continue to suffer from the coronavirus. The updated...

A Bombardier plant is seen in Montreal on Friday, June 5, 2020. Bombardier Aviation is reducing its workforce by about 2,500 employees due to challenges caused by COVID-19. The company said Friday that it had to make the move because business jet deliveries, industry-wide, are forecast to be down approximately 30% year-over-year due to the pandemic. (Paul Chiasson/The Canadian Press via AP)

Nations try to get back on their feet but job cuts continue

Jun. 5, 2020 7:43 PM EDT

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Friday related to the national and global response, the work place and the spread of the virus. ________________________ JOB CONCERNS: — Mall operator CBL & Associates warned...

225 VIPs urge world powers to adopt $2.5 trillion COVID plan

Jun. 1, 2020 11:14 PM EDT

UNITED NATIONS (AP) — More than 225 current and former global VIPs urged the world’s 20 major economic powers on Monday to hold an urgent meeting to agree to a $2.5 trillion plan to tackle COVID-19 and launch an economic recovery from the pandemic, especially for hard-hit developing and...

FILE- In this file photo taken Thursday, April 30, 2020, Women carrying their children lineup to receive vegetables from the Jan Hofmeyer community services in the Vrededorp neighborhood of Johannesburg. South Africa is struggling to balance its fight against the coronavirus with its dire need to resume economic activity. The country with the Africa’s most developed economy also has its highest number of infections — more than 19,000.  (AP Photo/Jerome Delay, file)

UN chief warns leaders pandemic may cause historic famine

May. 28, 2020 7:41 PM EDT

UNITED NATIONS (AP) — The U.N. chief on Thursday warned the largest gathering of world leaders since the coronavirus pandemic began that it will cause “unimaginable devastation and suffering around the world,” with historic levels of hunger and famine and up to 1.6 billion people unable to...

Ukraine's President Volodymyr Zelenskiy speaks to the media during a news conference in Kyiv, Ukraine, Wednesday, May 20, 2020. At the press conference marking Zelenskiy's one year in office, the president answered questions about domestic affairs, foreign policy and his main achievements. (Sergey Dolzhenko/Pool Photo via AP)

IMF to give Ukraine $5 billion to cope with virus fallout

May. 22, 2020 8:28 AM EDT

KYIV, Ukraine (AP) — The International Monetary Fund said Thursday it has reached an agreement with authorities in Ukraine to allocate $5 billion to help the country cope with the economic fallout of the coronavirus outbreak. “This will ensure that Ukraine is well-poised to return to growth and...