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In this file photo taken on 15 October 2019, International Monetary Funds (IMF) Managing Director Kristalina Georgieva pauses while speaking about gender equality during the IMF and World Bank Fall Meetings in Washington, DC. Picture: AFP

International monetary fund

IMF agrees to resume Pakistan loan after fuel, tax hikes

By AFP

An original $6 billion bailout package was signed by former prime minister Imran Khan in 2019, but repeatedly stalled when his government reneged on subsidy...

  • FILE: Ghana President Nana Akufo-Addo. Picture: AFP

    Ghana president defends IMF aid decision

    The decision has stoked fierce debate in Ghana, where Akufo-Addo has come under fire from critics who say his government reversed its position on the IMF after initially saying a new tax would help revive the economy.

    36 days ago
  • Bread. Picture: Pixabay.

    World Bank lends Tunisia $130 million for food security

    Tunisia was already dealing with heavy public debt, a low credit rating and steep inflation before the Ukraine war, and has been left reeling by Russia's military blockade of Ukrainian ports on the Black Sea.

    45 days ago
  • FILE: Hundreds of thousands of motorists waited in miles-long queues across the country for petrol and diesel despite the energy ministry announcing fresh stocks would not arrive for at least three days. Picture: ISHARA S. KODIKARA / AFP

    Bankrupt Sri Lanka begins two week stutdown, opens IMF talks

    The country of 22 million people is in the grip of its worst economic crisis after running out of foreign exchange to finance even the most essential imports including food, fuel and medicines.

    54 days ago
  • Picture: Supplied.

    IMF expects SA's economic recovery from COVID to continue this year

    In a statement released following an IMF staff visit to South Africa, the institution said despite the positive outlook, it continued to be concerned with load shedding, failures in the transport system, rising inflation and corruption.

    67 days ago
  • FILE: Malawi President Lazarus Chakwera. Picture: @LazarusChakwera/Twitter.

    Malawi steeply devalues currency to shore up forex reserves

    The last time the country saw a major currency devaluation was in 2012 when the Malawian kwacha was devalued by 33%.

    78 days ago
  • © piter2121/123rf.com

    IMF warns of rising risk of unrest in Africa as food and energy prices soar

    Surging food and energy prices stoked by the war in Ukraine may lead to "social unrest" in Africa, the International Monetary Fund warned.

    107 days ago
  • FILE: The minister said the countries, which should have been benefitting from the G20 Common Framework for Debt Treatment, were disproportionately vulnerable to growth shocks. Picture: @TreasuryRSA/Twitter

    Godongwana criticises G20’s slow progress in aiding developing countries

    The complaint was registered with the World Bank and the International Monetary Fund during the spring meetings that he attended with a South African delegation last week.

    110 days ago
  • © piter2121/123rf.com

    Cash-strapped Sri Lanka seeks IMF bailout

    A lack of foreign currency has left Sri Lanka unable to finance essential imports in what authorities say is the South Asian nation's worst economic crisis since independence from Britain in 1948.

    150 days ago
  • FILE: Deputy Finance Minister David Masondo said borrowing was not always sustainable but the money was used to fill a budget shortfall due to COVID-19. Picture: @TreasuryRSA/Twitter

    SA should return loans from IMF and World Bank, say some MPs

    In January, R11 billion was secured to help the country deal with the COVID-19 pandemic.

    163 days ago
  • FILE: Somalia’s President Mohamed Abdullahi Mohamed (right), known as Farmajo, speaks during a closing ceremony after reaching an agreement with state leaders over the terms of a new election, at the National Consultative Council on Elections in Mogadishu, Somalia, on 27 May 2021. Picture: Abdirahman Yusuf/AFP

    IMF says Somalia funding at risk over election delays

    The IMF's programme in Somalia is due for a review in mid-May, but election delays mean that a new administration may not be ready to endorse planned reforms in time, said Laura Jaramillo Mayor, the fund's mission chief for the country.

    172 days ago
  • FILE: Former Mozambique President Armando Guebuza. Picture: Johannes Myburgh/AFP

    Mozambique's ex-president Armando Guebuza to testify in debt scandal

    Ex-president Armando Guebuza is expected to testify about an affair concerning secret loans contracted under his tenure that triggered an economic crisis.

    177 days ago
  • Coronavirus health warnings are seen in the arrivals hall at London Heathrow Airport in west London, on 15 January 2021. Picture: DANIEL LEAL-OLIVAS/AFP

    Omicron variant raises new fears for pandemic-hit world economy

    First reported to the World Health Organization in South Africa less than a week ago, the new strain has rapidly spread everywhere from Africa to the Pacific, and from Europe to Canada, causing dozens of countries to announce travel restrictions.

    256 days ago
  • FILE: TThe IMF team conducted the second review of the country's performance under the $2.3 billion, 38-month aid programme approved in April. Picture: 123rf.com

    IMF praises Kenya's policies, reaches deal on next aid tranche

    The board of the Washington-based crisis lender still must approve the agreement to release the next tranche of aid, which would bring the total funds released to the African nation this year to $984 million.

    280 days ago
  • Picture: freeimages.com.

    IMF sees Africa lagging in rebound from pandemic blow

    Even though 12 billion doses of vaccine are to be produced in 2021, it will likely take more than a year for a significant number of Africans to be vaccinated, according to the International Monetary Fund.

    296 days ago
  • FILE: A man walks past the International Monetary Fund (IMF) headquarters in Washington DC on 5 September, 2018. Picture: AFP

    IMF revises growth forecast for SA from 4% to 5%

    It's published its latest growth outlook for the world's major markets on Tuesday.

    305 days ago
  • imf-sajpg

    The IMF's growth forecast for SA compared to major economies

    The updated IMF economic growth forecasts for selected countries, as released on 12 October 2021.

    305 days ago
  • In this file photo taken on 15 October 2019, International Monetary Funds (IMF) Managing Director Kristalina Georgieva pauses while speaking about gender equality during the IMF and World Bank Fall Meetings in Washington, DC. Picture: AFP

    Georgieva keeps IMF helm despite scandal

    Kristalina Georgieva's role at the institution was called into question after the 16 September publication of the findings of an investigation carried out at the request of the ethics committee of the World Bank, where Georgieva had previously held a senior role.

    305 days ago
  • Kristalina Georgieva. Picture: World Bank.

    IMF says still no decision on whether Georgieva keeps her job

    An investigation by a law firm has concluded that Georgieva manipulated data in favour of China while in a senior role at the World Bank.

    306 days ago
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