Latest International Monetary Fund News
Argentina's poverty rate spikes in first 6 months of President Milei's shock therapy
BUENOS AIRES, Argentina (AP) — Argentina's poverty rate jumped from almost 42% to 53% during the first six months of Javier Milei' s presidency, the statistics agency reported Thursday, a steep rise reflecting the pain of the country's most intense austerity program in recent memory. ...
The IMF approves a $7 billion loan for Pakistan, which will get $1 billion immediately
ISLAMABAD (AP) — The executive board of the International Monetary Fund has approved a new $7 billion loan for cash-strapped Pakistan, authorities said Wednesday, more than two months after the two sides said they had reached an agreement. The loan — which Islamabad will receive...
Sri Lanka's new president says he'll restart talks with the IMF to find a way out of economic crisis
COLOMBO, Sri Lanka (AP) — Sri Lanka's new President Anura Kumara Dissanayake said Wednesday that he will soon resume discussions with the International Monetary Fund and foreign creditors to plot a way out of the worst economic crisis in the country's history. “We expect to...
Marxist Dissanayake wins Sri Lanka's presidential election as voters reject old guard
COLOMBO, Sri Lanka (AP) — Marxist lawmaker Anura Kumara Dissanayake won Sri Lanka’s presidential election, the Election Commission announced Sunday, after voters rejected the old political guard that has been widely accused of pushing the South Asian nation into economic ruin. ...
Vote count underway in Sri Lanka's presidential election after years of turmoil
COLOMBO, Sri Lanka (AP) — Voting ended in Sri Lanka's presidential election Saturday as the country seeks to recover from the worst economic crisis in its history and the resulting political upheaval. The election, contested by 38 candidates, was largely a three-way race among...
Sri Lanka's opposition leader says the rich will pay more if he wins the presidential election
COLOMBO, Sri Lanka (AP) — Sri Lanka’s opposition leader said Thursday that if he wins the country's presidential race, he will renegotiate the International Monetary Fund economic reforms package to ensure rich residents pay more taxes and poor ones see their conditions improve. ...
Pakistan says it has met all of the IMF's conditions to secure a new $7 billion loan
ISLAMABAD (AP) — Pakistan's Prime Minister Shehbaz Sharif said Thursday that his country has met all the conditions set by the International Monetary Fund to qualify for a new $7 billion loan to help prop up its economy. During a Cabinet meeting, Sharif praised his finance team and...
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...
