Page 10 - International Monetary Fund

IMF agrees to give Ghana $3 bn debt bailout to restore financial stability

The International Monetary Fund has agreed to give Ghana $3 billion to try to get the West African nation's debt under control, restore financial stability and help people most at risk from rising prices and other economic problems. The announcement this week say follows IMF officials' two-week visit this month to Ghana's capital Accra, where they discussed support for the country's policy and reform plans with authorities. Ghana has been struggling with high public debt, rising inflation and a weakening currency. At a press conference Tuesday, Finance Minister Ken Ofori-Atta said Ghana was committed to the programme and will work towards meeting the demands. He said the agreement will help restore economic stability, tackle price spikes and strengthen the currency. The Ghanaian authorities have committed to a wide-ranging economic reform programme, which builds on the government's Post-COVID-19 Program for Economic Growth (PC-PEG) and tackles the deep challenges facing the country,

World debt-GDP ratio plummets, but over pre-Covid level, says IMF

Total debt fell to 247 per cent of global gross domestic product last year, IMF data showed. That's 10 percentage points less than in 2020, but is still the second-highest reading in history

Finance ministry likely to target fiscal deficit of 5.5-6% in FY24 Budget

This means the government will stick to its fiscal consolidation road map, which envisages a deficit of 4.5 per cent of GDP by FY26

China hints at relaxing zero-Covid norm; IMF chief urges targeted policy

Police leveraging powers of the country's surveillance apparatus against protesters

India's CAD pegged at 3-3.2% of GDP in FY23: CEA V Anantha Nageswaran

'India's annual import cover comfortable; IMF does not consider external sector to be in a zone of vulnerability'

Trade divide could cost global economy $1.4 trillion: IMF chief Georgieva

Trade spats could cut 1.5% from global GDP; 3% in Asia

Handling external shocks

Following the US Fed's monetary policy lead is not in the interest of emerging economies

From UPA govt's CEA to PM Modi's NITI Aayog member: Who is Arvind Virmani?

Prime Minister Narendra Modi has approved Virmani's appointment notified on November 15. Here's all you need to know

IMF says global economic outlook getting 'gloomier', risks abound

IMF blamed the darker outlook on tightening monetary policy triggered by persistently high and broad-based inflation, weak growth momentum in China, and ongoing supply disruptions

Climate debt-trap risks pushing vulnerable emerging markets to brink

Rising global borrowing costs are denting the finances of some of the most climate-vulnerable countries right when they most need money to fight the devastating impacts of global warming

IMF reaches staff-level agreement with Bangladesh for $4.5 billion

Officials said IMF funds will be divided between the Extended Credit Facility (ECF), the Extended Fund Facility (EFF), and the Resilience and Sustainability Facility (RSF)

IMF to provide $4.5 bn loan for Bangladesh to combat economic crisis

Bangladesh and the IMF on Wednesday reached a preliminary agreement under which the global lender will provide a USD 4.5 billion support package to stabilise its economy and protect the vulnerable people. The IMF agreement came months after discussions between the global lender and Bangladesh officials. Bangladesh is the third South Asian nation after Sri Lanka and Pakistan to secure a bailout package from the IMF to tide over the sharp rise in food and energy prices caused by the coronavirus pandemic and the global inflation due to the Russia-Ukraine war. The amount will be disbursed in seven installments till December 2026. The first installment of USD 447.48 million will be cleared in February next year, while the loan's interest rate would depend on the market rate at the time of maturity, Finance Minister A H M Mustafa Kamal told a news briefing after the signing of the agreement in Dhaka. Finance ministry officials calculated the interest rate to be around 2.2 per cent. "We

Managing growth expectations

In a highly uncertain global economic environment, realistic growth projections would reduce risks

'Price rise may be persistent as it has moved into core inflation in Asia'

The International Monetary Fund (IMF) recently released a regional economic outlook (REO) on Asia and Pacific, in which it cut the growth projections for the region

Services PMI recovers to 55.1 in Oct after hitting six-month low in Sept

Services PMI released by credit rating agency S&P Global improved to 55.1 in October from 54.3 in September

Growth in Asia-Pacific region to slow down in 2022, 2023, says IMF

The International Monetary Fund (IMF) said in a report released on Friday that economic growth in the Asia and Pacific region is expected to slow down in 2022 and 2023

Statsguru: Six charts explain IMF's warning on the global economy

The cost of borrowing is going up for emerging markets and budget constraints are increasingly making their effects felt

Debt restructuring talks underway with IMF, India, China: Sri Lanka Prez

Sri Lanka has started debt restructuring talks with the IMF, India and China, President Ranil Wickremesinghe said on Sunday, exuding confidence that if the discussions move forward in a systematic way, the country would tide over its worst economic crisis. Addressing a gathering in the Siyambalanduwa district, Wickremesinghe said talks have also started with private creditors on debt restructuring. For the first time yesterday, we began talks with the IMF, China, Japan and India on lessening our debt burden, he said. It will be difficult for us to pay back debt, still we have to find ways to lessen our debt burden. We are faced with a situation where we are unable to meet interest payments. But I'm hopeful that if our talks could be carried forward in a systematic way, we would be able to solve our problems, he said. The president said he spoke to the Chinese finance minister while Sri Lanka's finance minister Shehan Semasinghe on Saturday started talks with India on debt ...

Buckle up, and keep going, says IMF chief as outlook for world economy dims

Here is a rundown of the key takeaways from the annual meeting of the International Monetary Fund hosted IMF Managing Director Kristalina Georgieva

IMF chief Kristalina Georgieva warns of risk of geopolitical fragmentation

There is a risk of geopolitical fragmentation, as geopolitics turn into geo-economics with negative impacts, warns IMF Managing Director Kristalina Georgieva