Latest International Monetary Fund News

Austrian FM: EU ready to help Lebanon if leaders reform

Jan. 12, 2022 06:44 AM EST

BEIRUT (AP) — Austria’s foreign minister said Wednesday that the European Union wants to help Lebanon escape its economic meltdown, but only if the country's leaders clean up Beirut's affairs. Alexander Schallenberg told reporters after meeting his Lebanese counterpart in Beirut...

Lebanese premier expects draft deal with IMF within weeks

Dec. 28, 2021 12:30 PM EST

BEIRUT (AP) — Lebanon’s prime minister said Tuesday that his government's talks with the International Monetary Fund are inching closer to a “final formula” for a draft on an agreement before the end of February. Najib Mikati said the Cabinet — which has not met since Oct....

Supply shortages and emboldened workers: A changed economy

Dec. 20, 2021 10:56 AM EST

Employees at a fast-food restaurant in Sacramento, California, exasperated over working in stifling heat for low wages, demanded more pay and a new air conditioner — and got both. Customer orders poured in to an Italian auto supplier, which struggled to get hold of enough supplies...

Argentina squeezes foreign travel to protect its dollars

Nov. 26, 2021 15:07 PM EST

BUENOS AIRES, Argentina (AP) — Argentina's government launched measures on Friday to discourage foreign travel as a way to protect the country's thin dollar reserves ahead of heavy debt payments. The Central Bank banned use of credit card installment payments for...

IMF deal with Pakistan would revive $6 billion bailout

Nov. 22, 2021 03:59 AM EST

ISLAMABAD (AP) — The International Monetary Fund said Monday that weeks of talks with Pakistan have produced a preliminary agreement toward reviving a $6 billion economic bailout for the Islamic nation. Pakistan and IMF originally signed the accord in 2019, but the...

Argentina's opposition scores win in midterm elections

Nov. 14, 2021 23:44 PM EST

BUENOS AIRES, Argentina (AP) — President Alberto Fernández suffered a severe setback in Argentina's midterm elections held Sunday amid widespread anger over high inflation and rising poverty, with his governing coalition losing control of the Senate and threatened with falling from its...

Lebanon's PM says preliminary talks with IMF moving forward

Nov. 08, 2021 11:45 AM EST

BEIRUT (AP) — Lebanon’s prime minister said Monday that preliminary talks with the International Monetary Fund are moving forward as the small nation works to pull itself out of one of the world's worst economic crises in more than a century. Najib Mikati said during...