IMF
-
The Executive Board of the International Monetary Fund (IMF) has approved an immediate disbursement of about 248 million U.S. dollars to Ethiopia to help the East African country meet its balance of payments needs. The decision came after the IMF held its second review of the 48-month Extended Credit Facility (ECF) for Ethiopia, according to…
-
Nigeria Labour Congress, NLC, has dismissed the International Monetary Fund, IMF, denial of any role in Nigeria government’s removal of petrol subsidy and the implementation of other anti-people economic policies, insisting that the body is behind the country’s economic woes. According to the NLC, the IMF and its cousin in economic mischief – the World…
-
It would be “absurd” for the UN-backed International Monetary Fund (IMF) to resume cooperation with Russia, Kyiv has said, following reports the IMF is planning to send its first mission to the country since it invaded Ukraine. The IMF’s Russian representative Aleksei Mozhin told Reuters this week that the mission – the first since 2019…
-
The International Monetary Fund (IMF) on Wednesday announced the approval of 164.6 million U.S. dollars in funding for Rwanda to strengthen its economic resilience against future climate shocks. The package includes 76.2 million dollars from the Resilience and Sustainability Facility (RSF) and 88.4 million dollars through the Standby Credit Facility, the IMF said in a…
-
The International Monetary Fund (IMF) took to social media to share insights into the complex economic landscape of 2023, a year marked by unprecedented challenges that put the global economy to the test. According to the IMF, from the impacts of climate change to dynamic shifts in trade and reserve asset patterns, the IMF’s Statistics…
-
A popular economist and former President of the Council of Chartered Institute of Bankers, Prof Segun Ajibola, has warned President Bola Ahmed Tinubu’s administration to be careful about economic prescriptions from the International Monetary Fund and the World Bank. Ajibola disclosed this to DAILY POST on Monday. His reaction comes amid the IMF’s recent advice…
-
The International Monetary Fund (IMF) on Wednesday urged fiscal policymakers to adopt tighter fiscal policies to help central banks fight inflation. “Amid high inflation, tightening financing conditions, and elevated debt, policymakers should prioritize keeping fiscal policy consistent with central bank policies to promote price and financial stability,” the IMF said in a blog as it…
-
China’s economic rebound is having a significant positive spillover on the regional growth of Asia, said Krishna Srinivasan, director of the Asia and Pacific Department of the International Monetary Fund. Srinivasan said during the International Finance Forum One-on-One Global Dialogue on Friday that one percentage point increase in China’s growth leads to a 0.3 percent…
-
International Monetary Fund (IMF) Managing Director Kristalina Georgieva on Saturday warned officials from the Group of 20 major economies to take urgent action to combat inflation, warning that the “exceptionally uncertain” global economic outlook could turn worse if higher prices persisted. Georgieva, speaking at a G20 finance officials meeting in Indonesia, said the conflict in…
-
Prime Minister Shehbaz Sharif said on Thursday that the International Monetary Fund (IMF) did not trust Pakistan because the previous government had gone back on its agreement with the institution. Addressing a meeting of his party’s senators in Islamabad, the prime minister said the PTI-led government should not have agreed to the terms of the…
-
Digital currencies have been surging in popularity over the last few years as cryptocurrencies like Bitcoin have entered the mainstream and captured millions of people’s imagination. This rise has also turned the heads of the world’s central banks as fears grow that domestic currencies could be undermined by their growth. In response to these fears,…
-
The International Monetary Fund (IMF) has urged El Salvador to reverse its decision to make Bitcoin legal tender. In September, El Salvador became the first country to allow consumers to use the cryptocurrency in all transactions, alongside the US dollar. The decision led to large-scale protests over fears it would bring instability and inflation to…
-
The International Monetary Fund (IMF) will request additional details of the ongoing probe into the activities of the organization’s Managing Director Kristalina Georgieva when she was the World Bank’s CEO. “The Executive Board remains committed to a thorough, objective, and timely review. While the Board has made significant progress in its assessment, it agreed at…
-
U.S. Treasury Secretary Steven Mnuchin on Wednesday urged the International Monetary Fund and World Bank to work judiciously within their existing resources to fight the coronavirus pandemic and urged G20 countries to endorse a proposed debt restructuring framework. In a statement to the two institutions’ steering committees, Mnuchin said they needed to continue to provide…
-
The global economy is in a synchronized slowdown and we are, once again, downgrading growth for 2019 to 3 percent, its slowest pace since the global financial crisis. Growth continues to be weakened by rising trade barriers and increasing geopolitical tensions. We estimate that the US-China trade tensions will cumulatively reduce the level of global GDP…
-
The paper, titled ‘A Governance Dividend for Sub-Saharan Africa?’ stated that countries in the region tended to lag behind those in most other regions in the world in terms of governance and corruption. Eighty per cent of sub-Saharan African countries (36 out of 45) score below the global average in the Transparency International Corruption Perceptions…
You must be logged in to post a comment.