DHAKA, Bangladesh (AP) — Standing in line to try to buy food, Rekha Begum is distraught. Like many others in Bangladesh, she is struggling to find affordable daily essentials like rice, lentils and onions.
BEIRUT (AP) — The International Monetary Fund on Wednesday said the Lebanese government's slowness to implement desperately-needed reforms was exacerbating the country's economic meltdown, even as officials met to discuss an urgent and long-delayed bailout.
BEIRUT (AP) — Crisis-hit Lebanon hopes to adopt key reforms demanded by the International Monetary Fund for a long-delayed but urgently needed bailout before the end of next month if there is “political will”, Lebanon’s caretaker economy minister said Tuesday.
BEIRUT (AP) — Protesters scuffled with Lebanese security forces Monday outside the Justice Ministry in Beirut, demanding the release of two people arrested last week during a bank heist.
The clash came as a delegation from the International Monetary Fund held meetings in Beirut with officials over the country’s economic meltdown and the limited steps taken by the government to pull Lebanon out of the worst economic crisis in its modern history.
COLOMBO, Sri Lanka (AP) — The International Monetary Fund announced Thursday it has reached a preliminary agreement to provide Sri Lanka with $2.9 billion over four years to help it recover from its worst economic crisis.
COLOMBO, Sri Lanka (AP) — Sri Lanka’s president said Tuesday that his bankrupt country's talks with the International Monetary Fund for a rescue package have successfully reached final stages as he presented an amended budget that seeks to tame inflation and hike taxes.
WASHINGTON (AP) — The International Monetary Fund is facing pressure to reevaluate how it imposes fees on loans it disperses to needy countries like war-torn Ukraine — which is one of the fund’s biggest borrowers.
COLOMBO, Sri Lanka (AP) — Sri Lanka's central bank chief said Thursday he hopes the government can reach a preliminary agreement that could lead to a bailout package with the International Monetary Fund when its officials visit the crisis-hit island nation later this month.
BEIRUT (AP) — Tarek Younes was once solidly middle class and felt he helped contribute to society as an inspector in the Lebanese government’s consumer protection agency. But the country's economic free-fall has eroded his income and civic pride.
ISLAMABAD (AP) — Pakistan’s powerful army chief has contacted Washington, seeking U.S. help in securing an early release of a crucial $1.7 billion installment from the International Monetary Fund to his country, struggling with a deepening economic crisis, Pakistani officials said Saturday.
COLOMBO, Sri Lanka (AP) — Sri Lanka’s president said Saturday that an agreement with the International Monetary Fund to help pull the bankrupt nation out of its economic crisis has been pushed back to September because of unrest over the past weeks.
ISLAMABAD (AP) — Pakistan's former prime minister said Wednesday that the government of premier Shahbaz Sharif is mismanaging the country’s fragile economy.
Imran Khan's remarks to journalists at his residence in Islamabad came hours after Pakistan’s currency plummeted to an all-time low of 225 rupees against the U.S.
ISLAMABAD (AP) — The International Monetary Fund said Thursday it has reached a preliminary agreement with Pakistan to revive a $6 billion bailout package for this impoverished, majority Muslim nation struck by a serious economic crisis since last year.
COLOMBO, Sri Lanka (AP) — A weekend of political chaos in Sri Lanka stretched into Monday, with opposition leaders yet to agree on replacements for embattled President Gotabaya Rajapaksa and his prime minister, whose residences remain occupied by protesters angered by the country’s economic collapse.
COLOMBO, Sri Lanka (AP) — Sri Lanka’s prime minister said late last month that the island nation’s debt-laden economy had “collapsed” as it runs out of money to pay for food and fuel.
BANGKOK (AP) — Sri Lanka is desperate for help with weathering its worst crisis in recent memory. Its schools are closed for lack of fuel to get kids and teachers to classrooms.
COLOMBO, Sri Lanka (AP) — Sri Lanka’s negotiations with the International Monetary Fund on a bailout are more complex and difficult than before because it is a bankrupt nation, the country’s prime minister said Tuesday.
COLOMBO, Sri Lanka (AP) — Sri Lanka’s prime minister says the island nation’s debt-laden economy has “collapsed” as it runs out of money to pay for food and fuel.
BEIRUT (AP) — Lebanese Prime Minister Najib Mikati won the support of more than 50 legislators Thursday to keep his post following last month's parliamentary elections as the country's multiple crises deepen with no solution in sight.
ISLAMABAD (AP) — A minister in Pakistan's newly elected government faced criticism Wednesday following his plea to the nation to drink less tea to help save on imports amid a deepening economic crisis.
ISLAMABAD (AP) — Pakistan’s new coalition government on Friday presented its first budget in Parliament, levying more taxes on the rich and vowing to remove subsidies on energy and fuel, mainly in an effort aimed at reviving the $6 billion bailout package by the International Monetary Fund.
COLOMBO, Sri Lanka (AP) — Sri Lanka's prime minister said Thursday that he will quickly prepare an economic reform program and seek approval from the International Monetary Fund — because global inflation and the financial impact of Russia's invasion of Ukraine on other countries could limit their ability to help the island nation.
DAVOS, Switzerland (AP) — Soaring inflation. Russia’s war in Ukraine. Squeezed supply chains. The threat of food insecurity around the world. The lingering COVID-19 pandemic.
BEIRUT (AP) — Lebanon’s currency hit a new low Tuesday as deep divisions within the newly elected parliament raised concerns that political paralysis could further exacerbate one of the worst economic meltdowns in history.
BEIRUT (AP) — Lebanon’s outgoing government on Friday approved a recovery plan for pulling the Mideast nation out of its economic meltdown, the country's information minister said.
The development came during the Cabinet’s last official meeting before it becomes a caretaker government following last weekend’s parliamentary elections.
ISLAMABAD (AP) — Pakistan’s currency plummeted to an all-time record low in intraday trading against the U.S. dollar on Thursday, amid uncertainty about the success of crucial talks between the International Monetary Fund and the government of Prime Minister Shahbaz Sharif who is considering massive new taxation to avoid a default.
COLOMBO, Sri Lanka (AP) — Five-time former Sri Lankan Prime Minister Ranil Wickremesinghe was reappointed on Thursday in an effort to bring stability to the island nation, which is engulfed in a political and economic crisis.
COLOMBO, Sri Lanka (AP) — Sri Lanka’s economy is in dire straits with its usable foreign reserves down to less than $50 million, the country’s finance minister said Wednesday.
Ali Sabry was speaking to Parliament after returning to Sri Lanka from talks with the International Monetary Fund.
DUBAI, United Arab Emirates (AP) — The world's economy is forecast to grow around 3.6% this year, but Arab oil exporters are seeing a windfall from high energy prices that will buoy their economies and replenish their financial reserves this year and next, according to a report released Wednesday by the International Monetary Fund.
WASHINGTON (AP) — The last time Russia invaded Ukraine, in 2014, outraged world leaders booted Russia out of the Group of Eight industrialized nations, which quickly rebranded itself the Group of Seven.
COLOMBO, Sri Lanka (AP) — Sri Lanka will receive $300 million to $600 million from the World Bank over the next four months to buy medicine and other essential items, the country’s finance minister said Friday, as the Indian ocean island suffers its worst economic crisis in decades.
WASHINGTON (AP) — The mounting economic damage to Ukraine from Russia's ongoing bombardment has the U.S. and its allies speeding billions in aid to the beleaguered country — and looking for other sources of cash as well, including Russia itself.
WASHINGTON (AP) — The heads of the International Monetary Fund and the World Bank warned Wednesday that rising interest rates are squeezing the world's poorest countries as they struggle with the coronavirus and soaring food prices.
BEIJING (AP) — Shanghai allowed 4 million more people out of their homes Wednesday as anti-virus controls that shut down China's biggest city eased, while the International Monetary Fund cut its forecast of Chinese economic growth and warned the global flow of industrial goods might be disrupted.
WASHINGTON (AP) — The International Monetary Fund on Tuesday downgraded the outlook for the world economy this year and next, blaming Russia's war in Ukraine for disrupting global commerce, pushing up oil prices, threatening food supplies and increasing uncertainty already heightened by the coronavirus and its variants.
WASHINGTON — Ukraine is sending top officials to Washington for next week’s spring meetings of the International Monetary Fund and the World Bank, where discussion will focus on the Russian invasion and its impact on the global economy.
Tesla CEO Elon Musk offers to buy Twitter for $43 billion
NEW YORK (AP) — Tesla CEO Elon Musk has offered to buy Twitter outright, saying the social media platform “needs to be transformed” from his perspective as a self-identified “free speech absolutist.” Musk is currently Twitter’s biggest individual shareholder.
WASHINGTON (AP) — The head of the International Monetary Fund warned Thursday that Russia's war against Ukraine was weakening the economic prospects for most of the world’s countries and called high inflation “a clear and present danger’’ to the global economy.
COLOMBO, Sri Lanka (AP) — Sri Lanka is suspending its repayment of foreign debt, including bonds and government-to-government borrowing, pending the completion of a loan restructuring program with the International Monetary Fund to deal with the island nation’s worst economic crisis in decades, the government announced Tuesday.
BEIRUT (AP) — Lebanon and the International Monetary Fund on Thursday reached a tentative agreement for comprehensive economic policies that could eventually pave the way for some relief for the crisis-hit country, after Beirut implements wide-ranging reforms.
ATHENS, Greece (AP) — Greece has repaid its outstanding debts dating back to its financial crisis to the International Monetary Fund, two years ahead of schedule, the country's finance minister said Monday.
ATHENS, Greece (AP) — Greece’s European Union bailout lenders have approved a plan for the country to repay outstanding loans to the International Monetary Fund two years ahead of schedule.
The bloc’s bailout fund, the European Stability Mechanism, said Monday that the outstanding loans worth 1.86 billion euros ($2 billion) could be settled early, waiving its own requirement for early IMF repayments to be made in parallel with those made to European lenders.
BEIRUT (AP) — Talks between the Lebanese government and the International Monetary Fund over an economic recovery plan should make progress in the next two weeks, Prime Minister Najib Mikati said Saturday.
BUENOS AIRES, Argentina (AP) — Argentina's Senate gave final legislative approval Thursday for President Alberto Fernández's administration to refinance the government's $45 billion debt with the International Monetary Fund and avoid a default.
COLOMBO, Sri Lanka (AP) — Sri Lanka’s president said Wednesday that his government was in discussions with the International Monetary Fund, other agencies and countries on deferring loan repayments and requested people's support by limiting electricity and fuel consumption to cope with the worst economic crisis in memory.
BUENOS AIRES (AP) — Argentine lawmakers on Friday approved an agreement with the International Monetary Fund to refinance a $45 billion debt, a vote meant to avoid economic turmoil but that divided the governing party.
BUENOS AIRES (AP) — Lawmakers on Thursday began debating legislation needed to approve Argentina's agreement with the International Monetary Fund on refinancing a $45 billion debt, while protesters opposed to the deal clashed with police outside the Congress building.
UNITED NATIONS (AP) — Ireland’s foreign minister saluted the resilience and courage of Ukraine’s women. The U.S. ambassador to the United Nations hailed their bravery in defending their homes and country.
BUENOS AIRES (AP) — Argentina’s government announced Thursday that it reached a deal with the International Monetary Fund to refinance some $45 billion in debt, marking an attempt to stave off default and remove economic uncertainty that has hung over the country during two years of negotiations.
ISLAMABAD (AP) — The International Monetary Fund has approved a $1 billion loan as part of a bailout package to Pakistan, following reforms to rein in state spending, increase tax collection and make the central bank more independent, the IMF and the country’s finance minister said.