An unprecedented financial crash in 2022 brought months of consumer goods shortages, with inflation peaking at nearly 70% that year. File | Photo Credit: Reuters Sri Lanka’s consumer prices fell by 2.1% in November, the highest deflation rate recorded by the economically fragile island nation since 1961, official data showed Saturday (November 30, 2024). An … Read more
New Delhi: India isn’t looking for a short burst of accelerated economic growth but a sustained expansion rate of over 7% for at least the next two decades, which requires a whole “reimagining” of its financial sector, economic affairs secretary Ajay Seth said on Tuesday. Delivering the valedictory speech at a Confederation of Indian Industry … Read more
Julie Kozack. File | Photo Credit: Photo: X/@IMFSpokesperson “Sri Lanka’s macroeconomic policy reforms have started to “bear fruit” and the country is expected to reach agreements with external commercial creditors soon,” the IMF has said ahead of the second review of its $2.9 billion bailout programme to the cash-strapped country. Addressing a press conference on … Read more
Frankfurt: Finance officials from the Group of Seven rich democracies said they had moved toward agreement on a US proposal to squeeze more money for Ukraine from Russian assets frozen in their countries. But the ministers left a final deal to be worked out ahead of a June summit of national leaders. “We are making … Read more
The IMF has approved an immediate disbursal of USD 1.1 billion to Pakistan as part of a bailout package. | Photo Credit: REUTERS The International Monetary Fund has approved an immediate disbursal of USD 1.1 billion to Pakistan as part of a bailout package and said the country needs to take tough measures to bring … Read more
The path towards sustainable government debt levels around the world is under threat this year from the sheer number of elections taking place, the IMF said Wednesday in a new report. “History suggests, and empirical evidence confirms, that governments tend to spend more and or tax less in election year,” Vitor Gaspar, the head of … Read more
The International Monetary Fund‘s executive board on Friday selected Bulgarian economist Kristalina Georgieva to serve as managing director for a second five-year term, starting on Oct. 1 this year, the global lender said. “The Board commended Ms. Georgieva’s strong and agile leadership during her term, navigating a series of major global shocks,” it said in … Read more
IMF Managing Director Kristalina Georgieva. | Photo Credit: REUTERS The IMF executive board confirmed Friday that it had reappointed Kristalina Georgieva to serve for a second five-year term running the international financial institution. The decision means that Ms. Georgieva, who was the sole candidate to lead the International Monetary Fund, will continue in office when … Read more
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 … Read more
India’s Ravichandran Ashwin, left, celebrates with captain Rohit Sharma the wicket of England’s Ollie Pope on the third day of the fourth cricket test match between England and India in Ranchi, India, on Feb. 25, 2024. | Photo Credit: AP India to IMF: Ensure Pakistan does not divert loans to foot its defence, third-country debt … Read more