IMF
Sri Lanka could have avoided economic crisis: Central bank Guv
Speaking to the BBC, the Governor said on Thursday night: "If we had taken the decision to go to the IMF earlier, if we started the debt resettlement process one year before, we could have managed the situation without this kind of suffering in this country." Amidst the worst ever economic crisis, Sri Lanka says it needs $5 billion this year in support from the international community, including the IMF.
Pakistan govt pitches 4.8% budget deficit target to IMF
In a latest, the government has pitched the budget deficit target of 4.8 per cent of the country's total economic size to the IMF for the next fiscal year. The pitch is part of the proposed economic remedies and policy changes, demanded by the IMF and global lenders to Pakistan, which include further adjustment through a combination of expenditure cuts and additional revenue mobilisation.
Regulators must put up guardrails to protect crypto investors: IMF official
The shocking implosion of the TerraUSD stablecoin and Luna cryptocurrencies last week threw many young investors into a panic, some of them saying their entire assets were blown up or even leaving suicidal messages.
Imran lied to IMF on petrol, diesel prices
Ismail said former Khan's government had promised the IMF to impose 17 per cent general sales tax (GST) and 30 PKR levy on petrol and diesel prices, reports Samaa TV. "They (the PTI government) promised the IMF it won't bear the loss on petrol and diesel prices. But today, (the country) is losing 70 PKR on diesel."
IMF agrees to extend its programme for Pakistan with rider
The decision was taken after consultations between Pakistan Foreign Minister Miftah Ismail and IMF Deputy Managing Director Antoionette Sayeh in Washington. However, the decision is pending to completion of some strict and difficult demands, which include cancelling subsidies on petroleum announced by former premier Imran Khan.
IMF cuts India's 2022 growth prospects
The fund had earlier projected 9.5 per cent growth for the Indian economy in 2022. It slashed it by 0.5 percentage points in its January report and it has further reduced it now by 0.8 point. The fund has also cut its projection for 2023 by 0.2 point to 6.9 per cent.
Pakistan to resume negotiations with IMF
The IMF had recently suspended its programme amid the political turmoil in Pakistan, stating that it would re-initiate talks with the new government that would take charge of the country. Its decision came when then Prime Minister Imran Khan was faced with a major challenge when opposition parties joined together and tabled a no-confidence motion, which later led to his ouster and brought in Shahbaz Sharif as his successor.
IMF to downgrade forecast for over 140 economies amid Russia-Ukraine conflict
"To put it simply: we are facing a crisis on top of a crisis," IMF Managing Director Kristalina Georgieva said on Thursday in a curtain raiser speech ahead of the 2022 spring meetings of the IMF and the World Bank scheduled next week. "In the past seven weeks, the world has experienced a second major crisis -- a war on top of a pandemic. This risks eroding much of the progress we have made over the past two years, climbing back from Covid," Georgieva added.
IMF not asking for removal of central bank Guv: SL
Addressing the nation on Wednesday evening, President Gotabaya Rajapaksa said that he has decided to work with the IMF to overcome Sri Lanka's economic woes, reports Xinhua news agency. Following the speech, local media reported that one of the IMF conditions to work with Sri Lanka was the removal of the central bank governor, who had repeatedly said that the government would not go to the global lender.
Battered by dollar crunch, SL to negotiate with IMF & others on loan repayment
Battered by "worst-ever" financial crisis since independence, Sri Lanka's President Gotabaya Rajapaksa has talked to the international financial institutions including the International Monetary Fund (IMF) and other countries on loan repayment. In a special address to the nation on Wednesday night, President Rajapaksa said that talks have been started with IMF to find a way to pay off annual loan instalments and sovereign bonds.
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