Tag Archives: IMF

Lebanon’s president told central bank governor Riad Salameh on Wednesday to provide data for a forensic audit of the bank, saying the restructuring consultancy Alvarez & Marsal(A&M) had said it did not have the information it needed a month after starting. President Michel Aoun made the comments in a meeting …

Lebanon’s new Prime Minister Najib Mikati says he has no “magic wand” to fix the country’s economic and financial crises, following more than a year of political deadlock over the formation of a government. Mikati made the remark in a statement on Monday, saying he has “no magic wand to …

Russia on Monday called on the United States to release Afghan central bank reserves that Washington blocked after the Taliban’s takeover of Kabul earlier this month. “If our Western colleagues are actually worried about the fate of the Afghan people, then we must not create additional problems for them by …

The board of governors of the International Monetary Fund on Monday greenlit increasing the institution’s lending capacity by $650 billion, the last step in approving an initiative to boost aid to the most vulnerable countries. “This is a historic decision – the largest SDR (Special Drawing Rights) allocation in the …

Rebuilding Gaza after the latest devastating war between Israel and the Palestinians will cost up to $485 million, the World Bank said. The report says it will take up to $380 million to repair the physical damage alone, with more required for other recovery needs. Israel carried out waves of …

Hundreds took to the streets to demand the gov’t’s resignation over IMF-backed reforms. Hundreds of Sudanese protesters took to the streets across the country on Wednesday to demand the government’s resignation over the International Monetary Fund-backed (IMF) economic reforms. The protests erupted a day after the IMF approved a $2.5bn …

The rise of cryptocurrencies has prompted interest from central banks to create digital currencies. A recent survey conducted by the Bank for International Settlements revealed that almost every central bank has considered issuing a digital currency. The Monetary Authority of Singapore (MAS), the International Monetary Fund, World Bank, and other …

The global economy has surpassed its pre-pandemic peak, data survey firm IHS Markit said Monday, as the recovery accelerates thanks to vaccination and the end of pandemic-related restrictions.

Germany pledged 3 billion euros ($3.4 billion) at a meeting of G20 finance ministers to help the world’s poorest countries, the finance ministry said on Saturday. The funds will be made available as long-term loans for the International Monetary Fund’s Poverty Reduction and Growth Trust (PRGT). In April, IMF officials …

The imf’s energy producers are expected to earn $270 billion less in oil revenue compared to last year as the region’s economic heavyweight, Saudi Arabia, sinks deeper into recession amid the coronavirus pandemic, according to the International Monetary Fund’s outlook released Monday. The international lender expects an overall economic contraction …

A senior member of Lebanon’s negotiating team with the International Monetary Fund (IMF) has quit his post as finance ministry director general, telling al-Jadeed TV he had resigned over the way leaders are handling a financial crisis. Alain Bifani is the second member of Lebanon’s team at the IMF talks …

The global economy will take much longer to recover fully from the shock caused by the new coronavirus than initially expected, the head of the International Monetary Fund said, and she stressed the danger of protectionism. Managing Director Kristalina Georgieva said the Fund was likely to revise downward its forecast …

Lebanon’s government on Friday signed a request for assistance from the International Monetary Fund, a statement from Prime Minister Hassan Diab’s office said. “This is a historic moment in the history of Lebanon. We have taken the first step on the path of saving Lebanon from the deep financial gap; …

The World Bank Group (WBG) is expected to launch health emergency programs in over 100 countries by the end of April to support the fight against COVID-19, with 64 already in operation, President David Malpass said Friday. “In response to COVID-19, the World Bank Group has focused on taking fast, …

Beaten down by the coronavirus outbreak, the world economy in 2020 will suffer its worst year since the Great Depression of the 1930s, the International Monetary Fund says in its latest forecast. The IMF said Tuesday that it expects the global economy to shrink 3% this year — far worse …

Iranian authorities have called on the International Monetary Fund (IMF) to accelerate processing Tehran’s request for an emergency loan which requires fighting a pandemic. The governor of the Central Bank of Iran (CBI) Abdolnasser Hemmati said on Thursday that the IMF is expected to consider Iran’s request for a $5 …

Iran has urged the International Monetary Fund (IMF) to approve a $5bn (£4bn) emergency loan to help fight the coronavirus, as its death toll passed 4,000. President Hassan Rouhani warned that “there should be no discrimination” in approving requests. The US reportedly opposes the loan, with officials saying Iran has …

Scores of people were injured in Beirut on Tuesday in clashes between security forces and protesters rejecting the new government as it sought to win a parliamentary vote of confidence. Smoke wafted through Beirut where riot police fired tear gas at hundreds of protesters seeking to block MPs from reaching …

The global economy has come under pressure from the threat of further trade sanctions by the US, social unrest and the climate emergency, limiting its recovery over the next two years, the International Monetary Fund has warned. In its half-yearly update, the Washington-based lender of last resort said the global …