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
Krishnamurthy Subramanian. | Photo Credit: The Hindu 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 position was … Read more
The second tranche of the USD 2.9 billion IMF bailout for cash-strapped Sri Lanka would be finalised within the next month, central bank governor Nandalal Weerasinghe said on Friday. The government is expecting around USD 330 million as the second tranche of the USD 2.9 billion 4-year bailout, following the first one that was extended … Read more
A woman buys vegetables at a market, on the day President Ranil Wickremesinghe, who is also the island nation’s Finance Minister, presents the annual budget in Colombo, Sri Lanka, on November 13, 2023. | Photo Credit: Reuters Sri Lankan President Ranil Wickremesinghe on November 13 presented his government’s 2024 budget, emphasising the need for tough … Read more
Chinese Foreign Ministry spokesman 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 … Read more