Debt-stricken Sri Lanka to receive first tranche of IMF bailout funds
Economic mismanagement coupled with the impact of the pandemic left Sri Lanka severely short of dollars for essential imports, tipping the country into its worst financial crisis in seven decades.
China promises Sri Lanka deal on debt treatment in coming months
Sri Lanka is facing its worst economic crisis in more than seven decades and a shortage of dollars has disrupted imports of essentials.
Sri Lanka workers defy strike ban to protest rescue plan
President Ranil Wickremesinghe is facing a public backlash over steep tax hikes and spending cuts imposed to secure a sorely needed International Monetary Fund bailout.
Sri Lanka outlaws strikes as anti-tax protests spread
Anger towards President Ranil Wickremesinghe is growing as his government slashes spending and hikes taxes to secure an IMF bailout after more than a year of economic and political upheaval.
Global factory activity contracts again in January, highlighting fragile recovery
The latest figures come as central bankers gear up for another round of interest rate increases to combat high inflation.
Bangladesh secures US$4.7 billion from IMF as other South Asian countries see delays
The loans are a win for Prime Minister Sheikh Hasina ahead of an election and the country, which has seen a widening of its current account deficit, depreciation of currency and a decline in its foreign exchange reserves.
Full brunt of financial tightening yet to materialise, says IMF
Global growth is expected to slow further this year, as central banks including the US Federal Reserve have raised interest rates to cool surging prices.
IMF says global debt well above pre-pandemic levels despite steep 2021 drop
Advanced economies saw the biggest drop in debt, with both public and private debt dropping 5% of GDP last year, followed by similar results in emerging markets, excluding China.
IMF urges China to boost Covid vaccinations, restore property sector confidence
The IMF says economic risks for China were tilted to the downside, due to headwinds from a global slowdown, higher energy prices and tighter global financial conditions.
IMF says global economic outlook getting 'gloomier', risks abound
IMF blames the darker outlook on tightening monetary policy triggered by persistently high and broad-based inflation, weak growth momentum in China, and ongoing supply disruptions and food insecurity.
Global finance leaders single out China as barrier to faster debt relief
The world's poorest countries face US$35 billion in debt-service payments to official and private-sector creditors in 2022, with more than 40% of the total due to China, according to the World Bank.
IMF cuts 2023 growth outlook amid colliding global shocks
The IMF says its latest World Economic Outlook forecasts show that a third of the world economy will likely contract by next year.
