Tag: International Monetary Fund

What is the outlook on the global economy? | Explained

April 20, 2024 admin

The story so far: The International Monetary Fund (IMF) released the latest global financial stability report on Tuesday warning about the risks to the global financial system from persistent high inflation, rising lending in the unregulated credit market, and increasing cyber-attacks on financial institutions. What is the IMF’s worry about inflation? The IMF has flagged…

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IMF ready to support Sri Lanka’s discussions with bondholders

April 18, 2024 admin

The International Monetary Fund (IMF) logo. File. | Photo Credit: Reuters The International Monetary Fund (IMF) stands ready to support Sri Lanka’s discussions with international bondholders and will provide a formal assessment after the parties reach a tentative agreement-in-principle, an IMF spokesperson said on April 18. “We hope an agreement consistent with the parameters of…

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China reaffirms financial support for Sri Lanka

March 30, 2024 admin

This handout photo released by Sri Lankan Prime Minister’s Office on March 27, 2024 shows Sri Lanka’s PM Dinesh Gunawardena (left) with Chinese President Xi Jinping, before a meeting in Beijing. | Photo Credit: AFP China has said it would continue to support Sri Lanka, as the crisis-hit island nation’s Prime Minister on March 30…

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Sri Lankan Prime Minister Dinesh Gunawardena arrives on six-day visit to China

March 25, 2024 admin

Dinesh Gunawardena. File | Photo Credit: AP Sri Lankan Prime Minister Dinesh Gunawardena arrived at Beijing on March 25 for a six-day official visit during which he will hold talks with Chinese President Xi Jinping and Premier Li Qiang on ways to further deepen bilateral ties. “Mr. Gunawardena was received on his arrival by Chinese…

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South Sudan On Top With $492 GDP Per Capita

March 15, 2024 admin

South Sudan On Top With 2 GDP Per Capita

South Sudan has severely limited economic growth and development. The International Monetary Fund (IMF) has released a report highlighting the world’s poorest countries based on GDP per capita adjusted for purchasing power parity (PPP). While GDP is a measure of a country’s total economic output, PPP takes into account the cost of living, providing a…

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Ensure Pakistan does not divert loans to foot defence bills: India to IMF

March 6, 2024 admin

Pakistan’s Prime Minister Shehbaz Sharif. | Photo Credit: AP Taking a tough stance, India has batted for “stringent monitoring” of any emergency funds provided by the International Monetary Fund (IMF) to its financially beleaguered neighbour Pakistan, stressing that such funds must not be redeployed towards defence bills or repayment of loans from other countries. India’s…

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Sri Lanka hopes to clinch debt repayment moratorium: President Ranil Wickremesinghe

March 6, 2024 admin

Sri Lankan President Ranil Wickremesinghe. File | Photo Credit: AP Sri Lanka hopes to avoid repaying debt till December 2027 after the completion of the ongoing restructuring process and repay them in the period running up to 2042, President Ranil Wickremesinghe said on March 5, as he defended his unpopular reform plans to revive the…

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Bankrupt Sri Lanka gets China’s tentative agreement on debt restructure

October 11, 2023 admin

Wang Wenbin. File | Photo Credit: ANI Sri Lanka on October 11 welcomed China’s tentative agreement to a debt restructure, as the island nation works to restore its ruined finances after suffering its worst-ever economic crisis. The government defaulted on its $46 billion debt last year at a time when months of food and fuel…

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World Bank says high rates threaten some countries

October 11, 2023 admin

The World Bank’s chief economist warned Wednesday that interest rate hikes could spell trouble for countries struggling to deal with debt. The U.S. Federal Reserve, the European Central Banks and others have raised rates and warned that they could remain high longer than expected in order to bring down elevated inflation. The International Monetary Fund…

Business

Pakistan rejects report claiming it sold arms to Ukraine to secure crucial IMF funding

September 19, 2023 admin

Image used for representational purpose only. File | Photo Credit: Reuters Pakistan has rejected a report claiming that it sold arms and ammunition to Ukraine in order to secure a crucial bailout package from the International Monetary Fund (IMF). Foreign Office Spokesperson Mumtaz Zahra Baloch on September 18 rejected as “baseless and fabricated” the Intercept…

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