International Monetary Fund: News

29 May 2024

Shanghai

IMF raises China's 2024 GDP growth forecast to 5%

The International Monetary Fund (IMF) has revised its economic growth forecast for China in 2024 to 5%, as stated in a recent press release.

08 May 2024

Argentina

Argentina introduces 10,000-peso banknote worth only $10 

The Central Bank of Argentina issued a new 10,000-peso banknote on Tuesday, which is five times the size of the previous highest-valued 2,000-peso bill.

18 Apr 2024

Ecuador

Ecuador declares nationwide shutdown amid energy crisis

Ecuador on Wednesday ordered all public and private workers to stay home for two days as critically low water levels at hydroelectric plants sparked a major power crisis in the country, AFP reported.

31 Mar 2024

Shehbaz Sharif

No more red carpets at events in Pakistan: Know why

Pakistan's Prime Minister, Shehbaz Sharif, has banned the use of red carpets for federal ministers and government figures at official events.

18 Mar 2024

Pakistan News

Pakistan fixes interest rate at 22% as inflation nears 33%

In an attempt to combat alarming inflation rate of 32.89%, Pakistan's central bank has decided to keep its primary interest rate steady at 22% for sixth fiscal term in a row.

23 Feb 2024

Pakistan Government

Pakistan's new government to seek $6 billion IMF loan: Reports

Pakistan is seeking a new loan of at least US$6 billion from the International Monetary Fund (IMF) to help the incoming government repay billions of dollars in debt due this year.

06 Feb 2024

Nirmala Sitharaman

Interim budget for J&K more than Pakistan's IMF grant

India has announced an interim Budget of Rs. 1.18 lakh crore for fiscal 2024-25 for the union territory of Jammu and Kashmir.

31 Jan 2024

China

China's manufacturing activity contracts for fourth consecutive month

China's manufacturing sector experienced its fourth consecutive month of contraction in January 2024, signaling a sluggish start to the year for the industry and the world's second largest economy.

1 in 4 CEOs plans to replace workers with AI

A recent study shows that 25% of CEOs plan to reduce their workforce by at least 5% due to the rise of generative AI.

AI could displace 40% of jobs, worsen equality: IMF

The International Monetary Fund (IMF) has shared an analysis revealing that artificial intelligence (AI) could impact nearly 40% of all jobs.

07 Jan 2024

Sheikh Hasina

Bangladesh votes today amid opposition boycott, fears of violence

Polling for the general election in Bangladesh began on Sunday amid fears of sporadic violence as the country's main opposition parties announced a boycott.

19 Dec 2023

India

IMF forecasts 6.3% growth for India's economy this fiscal year

The International Monetary Fund (IMF) predicts India's economy will grow by 6.3% this fiscal year and next, thanks to digital public infrastructure and a robust government infrastructure program.

02 Nov 2023

Pakistan Government

Pakistan to hold general elections on February 11

Pakistan will hold general elections on February 11, the Election Commission of Pakistan (ECP) said on Thursday.

24 Oct 2023

Sri Lanka

Sri Lanka approves free visas for India, 6 other countries

Sri Lanka's government has reportedly greenlit a proposal to offer free visas to tourists from seven countries, including India, China, Russia, Japan, Malaysia, Indonesia, and Thailand.

13 Oct 2023

China

China's property sector downturn could hurt Asia Pacific, warns IMF

The International Monetary Fund (IMF) has issued a warning that the slump in China's real estate sector could put a damper on growth prospects in the Asia Pacific region.

10 Oct 2023

India

IMF hikes India's growth forecast to 6.3%, lowers China's

The International Monetary Fund (IMF) has revised India's 2023-24 growth forecast from 6.1% to 6.3%, thanks to "stronger-than-expected" consumer spending in the April-June quarter.

30 Sep 2023

Pakistan News

Debt-ridden Pakistan seeks $11 billion aid from China, Saudi Arabia

Pakistan's caretaker government is reportedly in talks with China and Saudi Arabia to secure $11 billion in aid, aiming to keep the International Monetary Fund (IMF) bailout program on track and avoid an economic crisis.

22 Aug 2023

BRICS

Why 40+ countries want to join BRICS

BRICS—a coalition of large emerging economies comprised of Brazil, Russia, India, China, and South Africa—reportedly aims to expand nearly 22 years after its inception.

13 Jul 2023

Shehbaz Sharif

Pakistan secures $3 billion bailout from International Monetary Fund

The International Monetary Fund (IMF) on Wednesday granted a much-awaited $3 billion bailout for Pakistan, a move that is likely to save the country from defaulting on its debt repayments.

30 Jun 2023

Pakistan News

Cash-strapped Pakistan strikes $3 billion standby bailout deal with IMF

Pakistan has reached a staff-level agreement with the International Monetary Fund (IMF) for a $3 billion loan program, the global lender said.

17 Jun 2023

Ranil Wickremesinghe

Sri Lankan president to visit India, may seek financial support 

Sri Lankan President Ranil Wickremesinghe is set to visit India on July 21 for the first time since the country's political chaos and economic crisis last year.

Why Rs. 2,000 note withdrawal is important, IMF expert explains

Dr. Krishnamurthy Subramanian, the executive director for India at the International Monetary Fund (IMF), has hailed the decision of the Reserve Bank of India (RBI) to scrap the circulation of Rs. 2,000 currency notes.

Imran Khan's arrest: 6 dead as protesters attack government buildings

The demonstrations in Pakistan against the arrest of former Prime Minister Imran Khan grew violent as protesters clashed with the police across the country. Reportedly, at least six people have died in the violence.

06 May 2023

Pakistan News

Pakistan: IMF's bailout package stalled amid debt, unmet loan conditions 

The International Monetary Fund (IMF) is reportedly likely to hold up the already agreed bailout package for cash-strapped Pakistan.

12 Apr 2023

Indian Economy

Indian economy 'very strong,' will grow at 5.9%: IMF chief

The International Monetary Fund (IMF) on Tuesday slashed the growth projection for India from 6.1% to 5.9% for the financial year 2023-24. However, Daniel Leigh, the division's World Economic Studies chief, praised India, calling it one of the bright spots in the current global economy.

07 Mar 2023

Sri Lanka

China backs Sri Lanka, clears way for IMF's $2.9B bailout

China has assured Sri Lanka a two-year moratorium for 2022 and 2023, paving the way for the International Monetary Fund's (IMF) $2.9 billion bailout.

03 Mar 2023

Pakistan News

Pakistan: Inflation reaches 31.6%, breaks 58-year record 

Pakistan's monthly inflation rose to a historic high of 31.6% in February, the Pakistan Bureau of Statistics (PBS) said.

26 Feb 2023

Pakistan News

Pakistan economic crisis: Life-saving surgeries halted amid drug, equipment shortage 

Pakistan's economic crisis is having a severe impact on the most vulnerable, as doctors there have been forced not to perform surgeries due to a shortage of essential drugs and equipment, ANI reported.

24 Feb 2023

Pakistan News

No business class flights, five-star hotels for Pakistan ministers

In light of Pakistan's ongoing financial crisis, the government has prohibited ministers from staying in five-star hotels or traveling in business class abroad.

21 Feb 2023

Pakistan News

Function as country; tax rich, subsidize poor: IMF tells Pakistan

The International Monetary Fund (IMF) has advised Pakistan that if it wants to function as a country, it must tax the rich and the high earners while ensuring that only the poor receive subsidies.

19 Feb 2023

Pakistan News

Pakistan already bankrupt, IMF bailout won't help: Defence Minister Asif

Pakistan has already gone bankrupt, the country's Defence Minister Khawaja Asif said while addressing an event in Sialkot on Saturday amid a massive cash crunch and decades-high runaway inflation.

16 Feb 2023

Pakistan News

Pakistan fuel price hits record high; Petrol at Rs. 280/liter

Pakistan announced a record increase in fuel prices on Wednesday, triggering a shock for its already overburdened citizens.

14 Feb 2023

Pakistan News

Pakistan price shock: Milk crosses PKR 210/liter, chicken PKR 700/kg

Amid Pakistan's economic crisis, the steep increase in the prices of essential food items following an unchecked price hike for daily-use items, particularly milk and chicken, has shocked its citizens.

10 Feb 2023

Pakistan News

Cash-strapped Pakistan, IMF fail to reach deal on bailout package

Pakistan and the International Monetary Fund (IMF) reportedly failed to arrive at a clear agreement for the latest installment of the bailout package pending since November, amounting to $1.1 billion.

31 Jan 2023

Indian Economy

Amid global slowdown predictions, IMF calls India 'bright spot'

India is likely to see some economic slowdown in the fiscal year 2023, the International Monetary Fund (IMF) said in its January update of the World Economic Outlook released on Tuesday.

30 Jan 2023

Pakistan News

Pakistan hikes petrol, diesel prices by PKR 35/liter amid crisis

Pakistan announced a whopping PKR 35/liter price hike on petrol and diesel on Sunday, Reuters reported.

27 Jan 2023

Pakistan News

Pakistan seeks bailout amid crisis as currency hits all-time low

The removal of the unofficial price cap in Pakistan saw its currency's largest single-day decline as it plummeted 9.61% to Rs. 255.43 against the US dollar on Thursday.

17 Jan 2023

China

China's economy grows 3% in 2022, second-lowest in nearly 50yrs

China's economy in 2022 grew at the second slowest rate in nearly 50 years, raising concerns about the impact of the downturn on the global market, AFP reported.

02 Jan 2023

Kristalina Georgieva

One-third of global economy will be in recession: IMF chief

For those who were expecting a better 2023, the head of the International Monetary Fund (IMF) has a grim warning. The new year is going to be "tougher than the year we leave behind," said Kristalina Georgieva.

Amid global economic slowdown, India is in bright spot: IMF

The International Monetary Fund (IMF) claimed on Tuesday that India's economic growth was improving despite the global economic slowdown.

11 Oct 2022

Russia-Ukraine crisis

'2023 will feel like recession,' warns IMF amid economic downturn

The International Monetary Fund (IMF) warned on Tuesday that global growth may see a further drop in 2023 as economies worldwide struggle to deal with the Russia-Ukraine crisis fallout, AFP reported.

03 Sep 2022

India

India is world's fifth-largest economy, but has to outperform UK

In a significant achievement, India has surpassed the United Kingdom (UK) to claim the position of the 5th largest economy in the world, International Monetary Fund (IMF) said.

03 Sep 2022

Sri Lanka

Sri Lanka crisis: Gotabaya Rajapaksa returns; apprehension of protest grows

Former Sri Lankan President Gotabaya Rajapaksa returned to the country on Friday nearly two months after fleeing the island country amid the worst-ever economic downturn, according to AFP.

21 Aug 2022

Sri Lanka

IMF to visit Sri Lanka on Wednesday to assess debt

A team of the International Monetary Fund (IMF) will be visiting Sri Lanka this week to assess the island nation's total external and internal debt.

08 Aug 2022

Bangladesh

Bangladesh: Protests erupt after 52% fuel price hike amid slowdown

Protests erupted across Bangladesh following a sharp increase in fuel prices amid the country's economic slowdown.

01 Aug 2022

Sri Lanka

More important to rebuild Lanka than my own house: Wickremesinghe

Sri lankan President Ranil Wickremesinghe, in reference to the protesters' threats, said that there was no point in asking that he "should go home" because he has nowhere to go.

16 Jul 2022

Egypt

#NewsBytesExplainer: Like Sri Lanka, these countries too facing economic setback

An economic crisis is brewing in many nations, including the neighboring countries of India.

11 Jul 2022

Sri Lanka

Amid Sri Lanka crisis, IMF chief warns of global debt

With Sri Lanka reeling under its worst economic crisis in seven decades, International Monetary Fund chief Kristalina Georgieva warned G20 nations over global debt.

10 Jul 2022

Sri Lanka

Lanka crisis: Gotabaya to resign, Wickremesinghe's house set on fire

Sri Lankan President Gotabaya Rajapaksa on Saturday agreed to step down from his post after violent protests in which demonstrators stormed his official residence in Colombo, forcing him to flee to an unknown location.

28 Jun 2022

India

Sri Lanka under virtual lockdown over fuel scarcity amid crisis

Citizens of Sri Lanka have been placed under a virtual lockdown as the worsening sovereign debt crisis has deprived the South Asian country of fuel.

18 Jun 2022

India

Sri Lanka fuel crisis: 2-week 'work from home' for employees

The Sri Lanka government on Friday declared work from home (WFH) for its government employees for the next two weeks as the island nation is grappling with an acute fuel shortage amid the worst financial crisis it has seen since its independence in 1948.

Debt-ridden Pakistan government asks its people to drink less tea

Pakistan has asked its citizens to drink less tea in order to keep the country's economy afloat.

10 May 2022

Sri Lanka

Sri Lanka: Ex-PM Mahinda flees to naval base amid protests

Former Sri Lankan Prime Minister Mahinda Rajapaksa and his family have reportedly sought refuge at a naval base in Trincomalee, in the country's northeast region.

19 Apr 2022

Sri Lanka

Sitharaman assures Sri Lanka of all possible assistance from India

Finance Minister Nirmala Sitharaman on Tuesday "assured all possible cooperation" to her Sri Lankan counterpart Ali Sabry on the sidelines of IMF-WB Spring Meetings in the US.

14 Apr 2022

India

Sri Lanka crisis: India to provide additional $2 billion aid

India is considering enhancing its financial assistance to crisis-hit Sri Lanka in the form of credits for essential commodities and balance-of-payment support.

12 Apr 2022

India

Amid economic crisis, Sri Lanka defaults on $51 billion debt

Sri Lanka on Tuesday announced that it was defaulting on its $51 billion external debt in anticipation of a bailout from the International Monetary Fund.

01 Apr 2022

Sri Lanka

Protests near Sri Lankan President Gotabaya Rajapaksa's home; 45 arrested

Thousands of people descended on the streets of Sri Lankan capital Colombo near President Gotabaya Rajapaksa's house on Thursday night, demanding that he step down.

29 Mar 2022

India

Explainer: What's behind Sri Lanka's worst economic crisis in decades?

Sri Lanka is experiencing one of its most severe economic crises in decades, with rising inflation, weak government finances, and COVID-19 shattering the economy.

20 Mar 2022

Pakistan News

How would you fund $1.5B subsidy package? IMF asks Pakistan

The International Monetary Pay (IMF) has asked Pakistan to clarify how it plans to fund a $1.5 billion subsidy package promised by Prime Minister Imran Khan.

03 Nov 2021

Afghanistan

How Taliban's foreign currency ban affects Afghanistan

The Taliban has banned all foreign currency in Afghanistan and ordered its citizens to only use Afghan currency for trade.

Improve health system to tackle COVID-19 crisis in future: Gopinath

As the world gradually makes its way out of the coronavirus crisis, International Monetary Fund (IMF) Chief Economist Gita Gopinath has said that countries should work on their health system and be ready to provide timely assistance to impacted segments of the society.

15 Jan 2021

Indian Government

India's new farm-laws potential 'step forward' for agricultural reforms: IMF

Backing the new farm laws introduced by the Indian Government, the International Monetary Fund (IMF) said that these laws have the potential to "represent a significant step forward" for agricultural reforms.

Struggling economy gets RBI's boost, big announcement for banks

With the economy stung drastically by the coronavirus pandemic, RBI Governor Shaktikanta Das addressed media for the second time in a month to announce key measures.

11 Apr 2020

Italy

Coronavirus kills over 100,000 globally; 50% died in a week

The novel coronavirus is highly contagious and is capable of wiping off cities, the new data about the death toll confirms, yet again.

03 Apr 2020

India

Coronavirus: World Bank approves $1bn emergency fund for India

The World Bank on Thursday approved a $1 billion emergency fund for India to deal with the coronavirus pandemic, which has killed over 70 in the country and infected 2,543.

31 Mar 2020

H-1B Visa

Coronavirus: Anticipating job loss, H-1B workers seek extension in US

With the global economy dwindling in the wake of coronavirus pandemic, professionals working on H-1B visas in the United States fear massive job cuts, hence, they have asked the administration to allow them to stay there for longer.

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