Russian Finance Minister Anton Siluanov said on Thursday that the BRICS economic bloc, led by China and Russia, is working to create its own international payment system because the existing Western system is too politicized, and too vulnerable to pressure from the United States.
New home prices in China slipped again in January, and existing home sales slipped even more, notching the steepest decline in nine years.
Ethiopia on Tuesday became the third African nation in three years to default on its sovereign debt, following Zambia and Ghana.
The International Monetary Fund (IMF) announced on Thursday that countries may use the Chinese yuan to settle their debts with their organization after Argentina paid part of its dues to the IMF in yuan in June.
The International Monetary Fund (IMF), an international organization heavily funded by the United States, on Friday reached an agreement with Pakistan to provide $3 billion in short-term financial aid. The Pakistani bond market perked up at news that a potential debt default crisis has been delayed, but not enough to suggest that investors see a bright future for Pakistan’s finances.
The Zambian government passed a law on April 17 that allows citizens to cash out up to 20% of their pensions early. The resulting hit to government finances as claimants raced to pull some $300 million out of the National Pension Scheme Authority (NAPSA) is threatening to topple Zambia’s finances, and endangering a debt relief deal it has been working on since 2020.
On Friday’s broadcast of CNBC’s “The Exchange,” International Monetary Fund Managing Director Kristalina Georgieva discussed the IMF’s newest report on the U.S. economy and stated that “inflation is stubborn, it is way too high,” which “means that the Fed will have
Ukrainian President Volodymyr Zelensky told the heads of the World Bank, International Monetary Fund (IMF), and other finance leaders on Wednesday that his country needs $14.1 billion dollars immediately to begin infrastructure repair, urging them to take some of the money from frozen Russian assets.
The International Monetary Fund said on Tuesday that it expects bank lending to contract in the U.S. this year, slowing economic growth.
Leftist President Alberto Fernández of Argentina announced on Wednesday that he had asked American counterpart Joe Biden to act as “a bridge” with international finance organizations to help Argentina reach 2024 “with greater peace of mind” during their encounter in Washington.
Risks to global financial stability have increased and “the need for vigilance” remains after the recent upheaval in the banking sector, International Monetary Fund (IMF) Managing Director Kristalina Georgieva warned Sunday.
Hundreds of protesters, including large numbers of retired soldiers and police, marched in downtown Beirut on Wednesday to protest Lebanon’s deteriorating economy. When the protesters attempted to breach a fence and storm the government headquarters building, security forces used tear gas to disperse them, and some of the demonstrators responded by throwing rocks.
The Washington-based International Monetary Fund (IMF) agreed to release a $15.6 billion loan package to Ukraine on Wednesday while reassuring contributors Kyiv has strong economic policies and is “fighting corruption.”
Hundreds of demonstrators clashed with police on Friday in Paramaribo, the capital of Suriname. Several dozen of the protesters were able to force their way into the National Assembly building, but were driven back with tear gas, while others burned and looted shops across the city. The United Nations expressed concerns on Monday that more violence could be in store, possibly building into an effort to overthrow President Chandrikapersad Santokhi.
Tata Group, India’s largest multinational conglomerate, is reportedly in talks with Taiwan’s Wistron Corporation to purchase the latter’s $600 million iPhone manufacturing plant in Karnataka, India.
89-year-old Michel Aoun, president of Lebanon since 2016, vacated his office on Sunday with no successor standing by. Aoun’s departure leaves a country in even more turmoil, as one of his final acts was accepting the resignation of interim Prime Minister Najib Mikati’s government.
“As the global economy is headed for stormy waters, financial turmoil may well erupt,” the IMF’s report on global growth warns.
Inflation, strains on food and energy supplies, war in the Ukraine, rising jobless numbers alongside risks of a global recession: these are just a few of the factors making up a “new normal” cited by International Monetary Fund (IMF) Director Kristalina Georgieva on Thursday as darkening the outlook for the world’s economy.
Europe is now looking at the possibility of “social unrest” should the continent be hit with a cold winter this year, the head of the International Monetary Fund (IMF) has now warned.
“The outlook has darkened significantly since April. The world may soon be teetering on the edge of a global recession, only two years after the last one,” the IMF’s chief economist said.
The IMF has told the remaining UK PM candidates to walk back promises of tax cuts and focus instead on more green agenda spending.
The International Monetary Fund (IMF) published a paper Wednesday that warned of dark, troubled economic times ahead when the world can expect to have less of everything except “social instability.”
El Salvador’s President Nayib Bukele told his constituents on Saturday night to stop worrying about the price of bitcoin and “enjoy life.” At Bukele’s urging, El Salvador became the first country to accept bitcoin as legal tender in June 2021.
Officials in socialist Sri Lanka boasted on Thursday of having arrested 137 people for “hoarding” gasoline, diesel, and kerosene as the government struggles to purchase sufficient supplies or distribute the little it has efficiently — a crisis worsened by severe shortages of medicine and basic items like powdered milk.
The International Monetary Fund (IMF) is projecting 8.2 percent growth for India in the current fiscal year, a substantial upward revision from earlier estimates and well ahead of the 3.6 percent global growth rate.
Sri Lanka on Tuesday announced plans to temporarily default on its foreign debt, calling the measure a “last resort” designed to prevent “permanent damage” to the island nation’s economy amid its worst fiscal crisis in more than 70 years.
Nigel Farage has accused the EU of hypocrisy by “funding Putin’s war machine”, as the bloc admitted to spending €35 billion on Russian gas.
Lebanese Deputy Prime Minister Saadeh al-Shami announced on Sunday that “the state has gone bankrupt,” along with its central bank, Banque du Liban.
The International Monetary Fund (IMF) on Tuesday “urged” El Salvador’s government to rescind the legal tender status it bestowed to Bitcoin, a type of cryptocurrency, in September 2021, indicating that its failure to do so could hinder El Salvador’s intention of securing a future loan from the financial institution.
The Afghan news agency Khaama Press, citing the BBC, reported on Tuesday that the administration of President Joe Biden may soon unfreeze Afghan government assets, allowing the Taliban to access them, in the name of helping the impoverished people of the country.
A $372 million sum Myanmar’s government received from the International Monetary Fund (IMF) in February for pandemic relief has “gone missing” since a military junta seized control in a coup just two days after the aid was issued, Coconuts Yangon reported Wednesday.
A spokesman for the “finance ministry” of the Taliban told Reuters in remarks published Friday that the terrorist group needs “fresh funds” to maintain its control of the country.
The leaders of Pakistan and China on Tuesday urged the international community to swiftly send humanitarian and economic aid to Afghanistan, backing a similar U.N. call made just 24-hours earlier.
Treasury Secretary Janet Yellen conceded on Monday that “legitimate issues and concerns” have been raised by a report that found World Bank data was rigged to make China looked better, but added she saw no reason to replace International Monetary Fund (IMF) Managing Director Kristalina Georgieva for her alleged role in the scandal.
Venezuelan Vice President Delcy Rodriguez complained on Wednesday that funds for coronavirus relief from the International Monetary Fund (IMF) have been frozen because the United States refuses to recognize the full legitimacy of dictator Nicolas Maduro’s government.
Analysts from the China Africa Research Initiative (CARI), a Johns Hopkins University project to study China’s political and economic influence among African nations, said on Tuesday the African nation of Zambia owes $6.6 billion to China – more than double the amount claimed by former President Edgar Lungu.
Reports this week indicate the Afghan economy is not faring well under Taliban domination, thanks to a combination of public terror, Taliban mismanagement, and the termination of foreign aid programs that were propping up civil services.
The World Bank announced on Tuesday that it will halt financial aid to Afghanistan following the Taliban’s overthrow of the elected government in Kabul.
The International Monetary Fund (IMF) said Wednesday that it will block Afghanistan from accessing $460 million in emergency monetary reserves that were scheduled to be disbursed next week.
The government of Cameroon said on Monday it was investigating how ministers had spent $335 million in coronavirus aid from the International Monetary Fund (IMF) amid accusations from opposition parties that most of the loaned funds “could not be accounted for.”
