Pakistan supplied munitions and arms to Ukraine in return for the recent bailout to the South Asian country by the International Monetary Fund (IMF) in a deal brokered by the United States, leaked documents have revealed. According to an investigation by The Intercept, two sources with knowledge of the arrangement, as[…]
INTERNATIONAL The International Monetary Fund (IMF) has cut its global growth forecast for 2023 as economic pressures collide, from the war in Ukraine, high energy and food prices and sharply higher interest rates. The IMF warned on Tuesday that conditions could worsen significantly next year and said it expected more than a[…]
INTERNATIONAL The World Bank has accused Lebanese authorities of operating a giant Ponzi scheme that has “caused unprecedented social and economic pain” over the past three decades. A Ponzi scheme is a type of scam that pays back investors with money from new investors. In a report published on Wednesday,[…]
The International Monetary Fund (IMF) on Tuesday approved a $2.5bn loan for Sudan, and with the World Bank sealed a landmark deal that unlocks nearly $50bn in debt relief for the impoverished African nation. The announcement came after the IMF finalised an agreement with 101 donor countries allowing Sudan to[…]
Political parties have reacted differently to the International Monetary Fund’s (IMF) multi-billion rand loan to South Africa. The Executive Board of the IMF has approved the country’s request for a R70 billion loan to help bolster its response to the economic impact of the COVID-19 pandemic. However, with rampant corruption[…]
The economic outlook for the Middle East and North Africa (MENA) was already grim as the region struggles to cope with the fallout of the coronavirus pandemic. On Monday, that horizon darkened further as the International Monetary Fund (IMF) projected an even deeper recession for the region, and warned of[…]
South Africa is seeking to acquire R95 billion of funding from global financial institutions to address the coronavirus social and economic crisis. President Cyril Ramaphosa has announced a R500 billion stimulus package aimed at cushioning the economic impact of the pandemic. The country moves to level-4 of the lockdown from[…]
Ecuador traded Julian Assange for a loan from the International Monetary Fund, which can only be handed out with the approval of Washington, John Shipton, the WikiLeaks co-founder’s father, has said. “Ecuador doesn’t have its own currency. It uses the US dollar,” Shipton told 60 Minutes Australia. “You can’t get an IMF loan[…]
Hundreds of Jordanians took to the streets of the capital Amman on Sunday in a fourth day of nightly protests against IMF-backed price increases that have shaken the kingdom. Demonstrators who converged near the cabinet office chanted slogans calling for the sacking of Prime Minister Hani Mulki, vowing they would[…]
The International Monetary Fund will incorporate Islamic finance into its financial sector assessments of select countries starting next year, aiming to improve regulation in the growing sector. The IMF has traditionally focused on conventional banking, but it has been increasingly engaging with regulators in countries where Islamic finance is now[…]
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