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Indian gold demand is expected to increase in the coming months due to a reduction in import taxes and the upcoming festival and wedding season. Imports of gold tripled in August after the government lowered the customs levy. The positive trend is likely to continue as a good monsoon season has improved crop prospects and increased disposable incomes for farmers. The changes could add 50 tons or more to gold demand in the second half of 2024 compared to last year. This increase in demand reinforces India's position as a global leader in physical gold consumption, while jewelry purchases have declined in China. In addition to physical gold, Indian investors are also showing interest in gold-backed exchange-traded funds as a diversification option. [Extracted from the article]

A $90 billion plan to bring electricity to 300 million Africans by 2030 has begun with an assessment of potential beneficiaries. The World Bank and the African Development Bank have pledged $30 billion to the initiative, known as Mission 300, and other organizations are working to secure additional funding. The plan aims to provide power to half of the 600 million Africans currently without electricity, with a focus on clean energy technologies such as mini-grids. The goal is to raise the necessary funding from a combination of public funds, concessional and philanthropic finance, and commercial commitments. [Extracted from the article]

Brazilian President Luiz Inacio Lula da Silva has proposed a global alliance against hunger and poverty during a meeting of G-20 finance chiefs in Rio de Janeiro. The initiative aims to bring together governments and institutions to share ideas and pool funds for policies against hunger and poverty that can be replicated worldwide. Lula is seeking support from nations rich and poor to finance the initiative, which will be a test of Brazil's international leadership. The United Nations reports that around 733 million people experienced hunger in 2023, and the Inter-American Development Bank estimates that it would take $31 billion to end extreme poverty in Latin America alone. Lula is also calling for a 2% global minimum tax on the world's richest individuals to raise funds for actions against hunger and poverty. [Extracted from the article]

Zambia's proposed ban on charging foreign currency in local transactions, which carries a 10-year jail term, may not achieve its intended goal, according to the International Monetary Fund (IMF). The IMF argues that macroeconomic stability, including low and stable inflation, is necessary for such measures to be effective. The central bank of Zambia has unveiled these plans to combat increasing dollarization in the economy, but businesses have criticized the regulations as punitive and potentially fueling price growth. The IMF is currently evaluating the initiative and consulting with the authorities to assess its merits. [Extracted from the article]

The International Monetary Fund (IMF) has expressed concerns about Zambia's plan to ban charging foreign currency in local transactions, stating that it may be counterproductive. The central bank of Zambia proposed the ban to address increasing dollarization in the economy, but businesses have criticized the regulations as punitive and potentially fueling price growth. The IMF believes that forced dedollarization measures would only be effective if accompanied by a strong macroeconomic stabilization plan. The IMF is currently evaluating the initiative and consulting with the authorities in Zambia. [Extracted from the article]

The International Monetary Fund (IMF) has downgraded its growth projections for Saudi Arabia more than any other major economy, due to the kingdom's decision to reduce oil supplies. The IMF now predicts that Saudi gross domestic product (GDP) will rise by 1.7% in 2024, compared to its previous prediction of 2.6%. This slower growth may impact Saudi government revenues as it seeks to fund Crown Prince Mohammed bin Salman's plans for economic transformation. The IMF attributes the downward revision solely to the impact of production cuts. The break-even price for oil in Saudi Arabia is estimated to be around $96 per barrel, according to the IMF. The reduction in oil production has also affected the country's non-oil economy, which has been a focus of the government's Vision 2030 plan. The IMF's revised growth projections for Saudi Arabia have likely influenced its estimates for the wider Middle East and Central Asia region, which have been lowered to 2.4% for this year. [Extracted from the article]

The International Monetary Fund (IMF) has upgraded its forecast for UK economic growth this year, providing an early boost for the new Labour government. Chancellor of the Exchequer Rachel Reeves acknowledged the challenge facing the economy but welcomed the expected pickup. The IMF raised the UK's growth forecast to 0.7% from 0.5% in April, placing it on par with Italy and Japan. However, the IMF warned that persistent inflation could pose a risk to the recovery, potentially leading to higher borrowing costs and jeopardizing overall growth. [Extracted from the article]

The International Monetary Fund (IMF) has downgraded its growth projections for Saudi Arabia more than any other major economy it tracks. The IMF predicts that Saudi gross domestic product (GDP) will rise by 1.7% in 2024, lower than the previous prediction of 2.6%. This downgrade is mainly due to the Saudi government's decision to extend deep cuts in oil production, which will impact government revenues. The slower growth may also affect Crown Prince Mohammed bin Salman's plans to transform the economy. The IMF's revision for Saudi Arabia's growth has also led to a decrease in growth projections for the wider Middle East and Central Asia region. [Extracted from the article]

The International Monetary Fund (IMF) is considering a review of the fees it charges its largest borrowers due to concerns that the costs are becoming unreasonable. The IMF board, consisting of a management official and representatives from 190 countries, will discuss options to give nations a break on surcharges. The fees apply to countries that borrow more than their allotted share or take longer to repay loans. The fees have added billions of dollars in extra costs for countries already facing economic challenges. The meeting will address initial considerations for a review of the fees, but no final decision is expected this week. [Extracted from the article]

Bangladesh is in talks with China for a $5 billion loan in yuan to boost its foreign-exchange reserves and support its struggling economy. The loan would allow exporters to access financing for raw material imports from China, which currently exceed Bangladesh's exports by more than 10 times. The country's foreign reserves have been declining due to the pandemic's impact on exports and rising commodity prices. Bangladesh hopes that borrowing in yuan will reduce pressure on its balance of payments, although it will eventually have to repay the loan in dollars. [Extracted from the article]

Bangladesh is in talks with China for a $5 billion loan in yuan to boost its foreign-exchange reserves and address its trade deficit with China. The loan would allow exporters to access financing for raw material imports from China. Bangladesh's foreign reserves have been declining due to the pandemic's impact on exports and rising commodity prices. The country's prime minister is expected to discuss funding support during her visit to Beijing. Bangladesh is heavily reliant on the garment industry and remittances for foreign inflows. The country is also implementing reforms, including moving towards a free-floating currency, to strengthen its economy. The central bank governor aims to bring inflation down and clean up the banking system during his term. [Extracted from the article]

Ethiopia's official creditors are willing to extend the June 30 deadline for the country to reach a deal with the International Monetary Fund (IMF) on a new program. The IMF cutoff date is part of a debt standstill provided to Ethiopia by its official creditors, including the Paris Club, India, and Saudi Arabia, to suspend debt service for two years. The extension would give Ethiopia more time to negotiate an agreement with the IMF. China, a key bilateral lender, is not part of this deal but is involved in debt rework negotiations. An IMF bailout would allow Ethiopia to restructure its external debt using the Group of 20's Common Framework mechanism. Ethiopia is also in talks with overseas private creditors after defaulting on a $1 billion Eurobond in December. [Extracted from the article]

The International Monetary Fund (IMF) has approved a staff-level agreement to send approximately $800 million to Argentina to help refinance the country's debts. President Javier Milei is seeking a new program with more funding than the current $44 billion agreement from 2018. Milei's economic program has reduced monthly inflation for five consecutive months, but Argentina is still facing a potential recession. Milei plans to meet with IMF Managing Director Kristalina Georgieva to discuss the new program at the Group of Seven summit in Italy. Additionally, China has renewed a portion of a currency swap line with Argentina, and senators in Buenos Aires have passed the majority of Milei's economic reforms. [Extracted from the article]

President Javier Milei of Argentina will meet with the head of the International Monetary Fund (IMF), Kristalina Georgieva, during the Group of Seven summit in Italy. Argentina is seeking new funds to lift capital controls and Milei wants to begin negotiations on a new IMF program to build up reserves. The IMF's executive board will vote on the latest review of Argentina's $43 billion program before the meeting. Milei will also hold bilateral talks with French President Emmanuel Macron and deliver a speech on artificial intelligence at the G-7 summit. [Extracted from the article]

The International Monetary Fund (IMF) has raised its growth forecast for China's economy to 5% this year, up from 4.6% previously. The IMF attributes this increase to a strong start to 2024 and additional government support. The Fund also expects the momentum to continue, raising its GDP forecast for next year to 4.5%. However, the IMF has called on Beijing to provide more monetary and fiscal support, particularly in resolving the housing crisis. The effects of recently announced US tariffs on China are still being assessed, and the IMF warns that trade tensions and increasing reliance on industrial policies could negatively impact the global trading system. [Extracted from the article]

The International Monetary Fund (IMF) has raised its growth forecast for China's economy to 5% this year, citing a strong start to 2024 and additional government support. The IMF expects this momentum to continue, with a GDP forecast of 4.5% for next year. However, the IMF has called on Beijing to provide more monetary and fiscal support, particularly in resolving the housing crisis, which continues to weigh on domestic demand. The Chinese government has already taken steps to shore up the real estate market, but the IMF believes more needs to be done. [Extracted from the article]

The International Monetary Fund (IMF) has criticized the Biden administration's decision to increase tariffs on certain Chinese goods, warning that this could harm global trade and growth. The IMF believes that the US would be better off maintaining open trade policies that have been beneficial to its economy. The IMF has been increasingly vocal in its criticism of the US, including its debt levels, trade restrictions, and policies towards China. The organization encourages the US and China to work together to address their concerns and urges all countries to resolve their differences within the multilateral framework. [Extracted from the article]

The International Monetary Fund (IMF) has approved the use of Special Drawing Rights (SDRs) to finance climate resilience and poverty reduction programs. This decision allows countries to use their SDRs to acquire hybrid capital instruments from lenders, rather than keeping them as foreign exchange reserves. The IMF's issuance of $650 billion in SDRs in 2021 had limited impact due to administrative hurdles and allocation to rich countries that didn't need them. The Inter-American Development Bank and the African Development Bank will issue these hybrid capital instruments, and the IDB expects to leverage $20 billion worth of SDRs for green and poverty reduction projects. Some European nations and Japan have expressed support for this initiative. [Extracted from the article]

The International Monetary Fund (IMF) has approved the use of Special Drawing Rights (SDRs) to finance climate resilience and poverty reduction programs. This decision allows countries to use their SDRs to acquire hybrid capital instruments from lenders, rather than keeping them as foreign exchange reserves. The IMF's issuance of $650 billion in SDRs in 2021 had limited impact due to administrative hurdles and allocation to rich countries that didn't need them. The IMF's decision is expected to help allocate $20 billion worth of SDRs for green and poverty reduction projects, with development banks able to leverage four times that amount. Many European nations and Japan have expressed support for this initiative. [Extracted from the article]

The International Monetary Fund (IMF) has approved a new method for countries to provide reserve assets to multilateral development banks. This move is part of a broader effort to raise funds for addressing challenges such as climate resilience and poverty reduction. The IMF's executive board has authorized the use of Special Drawing Rights (SDRs) for the acquisition of hybrid capital instruments issued by banks like the Inter-American Development Bank and the African Development Bank. This decision allows countries to utilize their SDRs as hybrid capital contributions to lenders, rather than solely as foreign exchange reserves, which may be restricted by domestic regulations. [Extracted from the article]

Tunisia has turned to olive oil exports as a financial lifeline amid economic challenges and stalled talks with the International Monetary Fund. Revenues from olive oil sales abroad nearly doubled to $1.1 billion in the first half of the export year, surpassing earnings from tourism and other industries. While the olive oil industry has provided a boost to Tunisia's economy, the country still faces significant financial hurdles and relies on funding from sources like Saudi Arabia and Afreximbank. The industry has persevered through climate change and political upheaval, employing over a million people and contributing to a third of Tunisia's agricultural output. However, Tunisia still faces a current account deficit and declining foreign currency reserves. [Extracted from the article]

Tunisia has turned to olive oil exports as a financial lifeline amidst economic challenges and stalled talks with the International Monetary Fund. Revenues from olive oil sales abroad nearly doubled to $1.1 billion in the first half of the export year, surpassing earnings from tourism and other industries. While the olive oil industry has provided a boost to Tunisia's economy, the country still faces significant financial hurdles and relies on funding from sources like Saudi Arabia and Afreximbank. The industry has expanded in Tunisia despite climate change and political upheaval, employing over a million people and contributing to agricultural output and farm exports. However, Tunisia still faces a current account deficit and declining foreign currency reserves. [Extracted from the article]

Bolivia's economy is facing a crisis due to the collapse of its currency peg to the dollar and the end of a natural-gas boom. This has led to soaring prices and a shortage of hard currency, impacting foreign trade and various sectors such as agriculture and healthcare. The economic turmoil has also fueled a conflict between President Luis Arce and his predecessor, Evo Morales, who is seeking a comeback despite a constitutional ruling barring him from running for another term. The situation poses a threat to Arce's grip on power and could lead to political and social unrest in the country. [Extracted from the article]

Federal Reserve Chair Jerome Powell has indicated that the US central bank will delay cutting borrowing costs due to higher inflation readings. This decision has implications for global finance chiefs who are concerned about the strength of the US economy and its impact on other currencies. Additionally, there are concerns about an escalation of conflict in the Middle East, which could lead to oil prices exceeding $100 a barrel. The International Monetary Fund (IMF) has slightly increased its expectations for global economic growth, but warns of persistent inflation and geopolitical risks. The US economy continues to show resilience, with retail sales surpassing expectations and fueling strong consumer demand. However, the IMF cautions that the US economy is slightly overheated due to its fiscal stance. In emerging markets, Israel's response to an Iranian attack raises concerns about a wider regional war and the potential impact on oil prices. India, on the other hand, is optimistic about above-normal monsoon rains, which could boost crop output and economic growth. In Europe, the European Commission is imposing trade restrictions on China to protect its clean tech industry. UK inflation is slowing less than expected, leading to speculation about potential interest rate cuts by the Bank of England. China reported faster-than-expected economic growth in the first quarter, but there are concerns about challenges ahead as retail sales and industrial output fall short of forecasts. [Extracted from the article]

Brazilian Finance Minister Fernando Haddad predicts that the Federal Reserve's decision to delay lowering interest rates will lead to a repricing of global markets. Meanwhile, Brazilian central bank chief Roberto Campos Neto expresses confidence in Brazil's external accounts. The International Monetary Fund (IMF) has upgraded its global economic growth outlook slightly for 2024 due to the strength of the US economy. The IMF and World Bank are also discussing topics such as debt relief for distressed nations and efforts to aid Ukraine and punish Russia. [Extracted from the article]

Bank of England policymaker Megan Greene has warned that the risk lies in doing too little to combat inflation, despite weak growth in the UK. The International Monetary Fund (IMF) has upgraded its global economic growth outlook slightly for 2024, citing the strength of the US economy as a major factor. The IMF and World Bank are currently hosting spring meetings to discuss topics such as debt relief for distressed nations and efforts to aid Ukraine and punish Russia. Tensions have arisen between the US and European Union members over the use of frozen Russian reserves to help Ukraine. [Extracted from the article]

The International Monetary Fund (IMF) has upgraded its global economic growth outlook for 2024 due to American economic strength. However, concerns have been raised about the dollar's strength and when the Federal Reserve will lower interest rates. The IMF and World Bank are hosting meetings to discuss topics such as debt relief for distressed nations and efforts to aid Ukraine and punish Russia for its invasion. Germany's Finance Minister warns that using frozen Russian assets to aid Ukraine could jeopardize international financial stability and sovereign immunity. The IMF's Managing Director remains optimistic that the Fed will be able to cut rates in 2024. European Central Bank (ECB) member Klaas Knot downplays the risk of an oil price shock to European inflation. The IMF urges major economies to tighten fiscal policies to prepare for future shocks. [Extracted from the article]

The head of the International Monetary Fund (IMF), Kristalina Georgieva, has expressed concerns about the impact of US interest rates and industrial policies on the global economy. Georgieva highlighted the uncertainty surrounding inflation, interest rates, and government policies in the US, which could have spillover effects on other countries. She also raised concerns about the sustained strength of the US dollar and the lack of clarity on its duration. Additionally, Georgieva emphasized the need for China to focus on reforms and domestic demand rather than excessive state subsidies for manufacturers. [Extracted from the article]

The head of the International Monetary Fund (IMF), Kristalina Georgieva, has expressed concern about the impact of US interest rates and industrial policies on the global economy. She emphasized that the world is closely watching the US, particularly regarding inflation, interest rates, and government policies. Georgieva also highlighted the sustained strength of the US dollar as a concern for other currencies. The IMF is optimistic that the Federal Reserve will begin cutting rates this year, but Georgieva does not anticipate a rapid decline in interest rates. [Extracted from the article]

The International Monetary Fund (IMF) has advised Asian central banks to focus on domestic inflation and not rely too heavily on the actions of the US Federal Reserve when making their own policy decisions. The IMF warns that closely tracking the Fed could undermine price stability in Asian countries. While US monetary policy does have a significant impact on Asian financial conditions and exchange rates, each Asian central bank should handle their own price dynamics based on their specific circumstances. The strong US economy and persistent inflation have raised concerns about the weakness of Asian currencies. [Extracted from the article]

The International Monetary Fund (IMF) Managing Director, Kristalina Georgieva, has expressed concerns about the strength of the US dollar and its impact on the global economy. She believes that the US and other countries should focus on budget tightening to rebuild fiscal buffers in a world where crises are frequent. The IMF and World Bank are currently hosting spring meetings to discuss various topics, including debt relief for distressed nations and efforts to aid Ukraine and punish Russia. Georgieva remains optimistic that the Federal Reserve will be able to lower interest rates in 2024. [Extracted from the article]

According to the International Monetary Fund (IMF), the United States and China will be major contributors to the increase in global public debt over the next five years. The IMF warns that the US's high spending is causing trouble for other countries by keeping interest rates high, which in turn strengthens the US dollar and increases debt burdens for countries that have borrowed in US currency. Additionally, the IMF cautions that a larger-than-expected slowdown in China could create risks for the rest of the world. The report also highlights the UK and Italy as nations facing serious fiscal risks due to rising debt levels. The IMF emphasizes the need for policy action to address spending-revenue imbalances in these countries. [Extracted from the article]

According to a report by the International Monetary Fund (IMF), the United States and China will be major contributors to the increase in global public debt over the next five years. The IMF warns that the US's high spending is causing trouble for other countries by keeping interest rates high, which in turn strengthens the US dollar and increases debt burdens for countries that have borrowed in US currency. Additionally, the IMF cautions that a larger-than-expected slowdown in China could create risks for the rest of the world through lower levels of international trade and investments. The report also highlights the challenges posed by increased government spending during election years. [Extracted from the article]

The International Monetary Fund (IMF) has raised its forecast for global economic growth this year by 0.1 percentage point to 3.2%, citing strength in the US and some emerging markets. However, the IMF also warned of risks such as persistent inflation and geopolitical tensions. The outlook highlights challenges such as high borrowing costs and the withdrawal of fiscal support, as well as low productivity and global trade tensions. The IMF also expressed concern about the under-performance of low-income countries and the potential impact of conflicts in Ukraine and the Middle East on inflation and interest rates. [Extracted from the article]

Liechtenstein, the world's second-richest country, is set to become the newest member of the International Monetary Fund (IMF). The 300-year old principality has met all the necessary conditions for joining the organization. While the IMF is known for bailing out struggling governments, Liechtenstein is unlikely to request financial assistance due to its high GDP per capita and budget surplus. The country's economy heavily relies on its financial industry, which accounts for over a fifth of its economy. [Extracted from the article]

According to the International Monetary Fund (IMF), UK Prime Minister Rishi Sunak will face an election with weaker economic growth this year compared to other Group of Seven (G-7) nations, except for Germany. The IMF downgraded its forecast for UK gross domestic product (GDP) to show a gain of 0.5% instead of the previously estimated 0.6%. However, inflation is expected to average 2.5%, which is in line with other European countries and lower than the US. The IMF predicts that the UK economy will grow 1.5% in 2025, faster than most G-7 nations except the US and Canada. The Bank of England may provide relief by cutting the benchmark lending rate. The IMF has criticized the UK government's tax cutting plans and warned about the risk of inflation and government debt sustainability. The UK needs to find savings of about 3% of GDP to stabilize the debt in 2029. To bring debt back to pre-pandemic levels by 2029, a fiscal consolidation equivalent to 8% of GDP would be needed. The government is currently planning a 3% GDP consolidation through freezing tax thresholds and cutting public services. The IMF's report shows that the UK is winning the battle against high inflation, with a forecast for faster inflation reduction than previously expected. The forecast for medium-term growth is optimistic, but short-term growth has been impacted by higher interest rates. [Extracted from the article]

The International Monetary Fund (IMF) has criticized US policymakers for their unsustainable fiscal policy, stating that the country's recent economic success is partly due to this policy. The IMF warns that overspending in the US could lead to inflation and undermine global fiscal and financial stability. The US deficit spending has been driven by Covid-related stimulus, investments in infrastructure and clean energy, and increasing interest costs. The IMF suggests that adjustments need to be made to address these concerns. Treasury Secretary Janet Yellen has downplayed these worries, but acknowledges that they could become more significant if interest rates remain high. [Extracted from the article]

The International Monetary Fund (IMF) has raised its forecast for global economic growth this year by 0.1 percentage point to 3.2%, citing strength in the US and some emerging markets. However, the IMF also warned of persistent inflation and geopolitical risks that could impact the outlook. The medium-term outlook for the global economy remains weak due to low productivity and global trade tensions. The IMF also highlighted the under-performance of low-income countries and the risks posed by conflicts in Ukraine and the Middle East. The US economy has already surpassed its pre-pandemic trend, but low-income developing countries are still struggling. The IMF also flagged risks from China's real estate woes and worsening global economic fragmentation due to US-China strategic competition. The fund expects major advanced economies to start cutting interest rates in the second half of this year. Inflation is projected to increase 5.9% this year and 4.5% next year, slightly higher than previous projections. The US is praised for its economic performance but criticized for its budget policy, which the IMF says is "out of line with long-term fiscal sustainability." [Extracted from the article]

Kristalina Georgieva has been reappointed for a second term as the head of the International Monetary Fund (IMF). She will continue to lead the IMF as it addresses challenges such as lower global growth prospects, climate change, and distressed debt in developing nations. Georgieva, a Bulgarian economist, received the backing of European Union finance ministers and has been commended for her leadership by the IMF executive board. Her reappointment allows visitors to focus on economic issues during the upcoming IMF and World Bank spring meetings in Washington. Georgieva has also advocated for a re-balancing of representation at the IMF to give countries like China and India more voting power. [Extracted from the article]

The International Monetary Fund (IMF) is expected to slightly increase its global growth forecasts, but warns of a "Tepid Twenties" if inflation and debt challenges are not addressed. The IMF's Managing Director, Kristalina Georgieva, stated that global growth will be marginally stronger, driven by robust consumption and investment, as well as easing supply-chain problems. However, she emphasized that inflation is still a concern and debt levels in most countries are too high. Georgieva called on central banks to avoid premature or delayed monetary easing and urged countries to bring their debt to sustainable levels and pursue policies to boost productivity growth. She also highlighted the need for caution in industrial policy actions and warned of a growing divergence within and across country groups, with the US economy rebounding strongly while Europe has a more gradual recovery. [Extracted from the article]

The International Monetary Fund (IMF) is expected to slightly increase its global growth forecasts, but warns of a "Tepid Twenties" if inflation and debt challenges are not addressed. The IMF's Managing Director, Kristalina Georgieva, stated that global growth will be marginally stronger, driven by robust consumption and investment, as well as easing supply-chain problems. However, she emphasized that inflation is still a concern and debt levels in most countries are too high. Georgieva called on central banks to avoid premature or delayed monetary easing and urged countries to bring their debt to sustainable levels and pursue policies to boost productivity growth. She also highlighted the need for caution in industrial policy actions and warned of a growing divergence within and across country groups, with the US economy rebounding strongly while Europe has a more gradual recovery. [Extracted from the article]

The International Monetary Fund (IMF) is expected to slightly increase its global growth forecasts, but warns of a "Tepid Twenties" if inflation and debt challenges are not addressed. The IMF's Managing Director, Kristalina Georgieva, stated that global growth will be marginally stronger, driven by robust consumption and investment, as well as easing supply-chain problems. However, she emphasized that inflation is still a concern and debt levels in most countries are too high. Georgieva called on central banks to avoid premature or delayed monetary easing and urged countries to bring their debt to sustainable levels and pursue policies to boost productivity growth. She also highlighted the need for caution in industrial policy actions and warned of a growing divergence within and across country groups, with the US economy rebounding strongly while Europe has a more gradual recovery. Low-income countries and fragile economies have been the hardest hit by the pandemic. [Extracted from the article]

A recent study by the International Monetary Fund (IMF) has found that the global economy is becoming divided between US- and China-centered blocs, although the level of fragmentation is less than during the Cold War. Trade flows between the two blocs have declined by about 12% more than trade within the same bloc since Russia's invasion of Ukraine in 2022. Foreign direct investment projects have also fallen by around 20% more between blocs than within blocs. However, the decline in trade and investment is much smaller than during the Cold War, and many non-aligned economies are benefiting from their role as "connector" economies between the two blocs. The IMF warns that if geopolitical tensions persist and trade restrictive policies intensify, the level of fragmentation could worsen considerably. [Extracted from the article]

Kristalina Georgieva is set to secure a second term as the head of the International Monetary Fund (IMF) as the nomination period closed with no other candidates challenging her. The IMF's board will now hold meetings with Georgieva and aim to complete the process by the end of April. Georgieva, a Bulgarian economist, received the backing of European Union finance ministers and has been a strong advocate for aiding indebted countries during the pandemic and for rebalancing the representation of developing and emerging countries at the IMF. Some House Republicans in the US have called for her replacement, citing ethical concerns and her handling of China's lending and currency practices. [Extracted from the article]

The International Monetary Fund (IMF) has approved the next disbursement of funds to Ukraine within a $15.6 billion loan program, providing financial support as aid from the US remains stalled. The IMF's executive board met to give final approval for about $880 million, the first of four tranches totaling over $5.3 billion scheduled for release this year. Despite uncertainty over US assistance, the IMF continues to lend to Ukraine as it battles the Russian invasion. This move will help boost Ukraine's international reserves to over $40 billion, a historic high. However, Ukraine has yet to receive over $61 billion in aid from the US, which is being held up in Congress. The IMF is set to review another disbursement in mid-June, with the potential for over $2.2 billion if certain conditions are met. [Extracted from the article]

Sri Lanka has received initial approval from the International Monetary Fund (IMF) for the release of the next loan installment from its $3 billion bailout program. The agreement is subject to certain provisions and is part of Sri Lanka's efforts to restore economic growth after being impacted by the pandemic and debt crisis. The country is also in negotiations with global investors to restructure $12 billion in defaulted global bonds. The IMF's executive board must approve the loan tranche, and progress in debt restructuring is a condition for the funding. [Extracted from the article]

The head of the International Monetary Fund (IMF), Kristalina Georgieva, has warned central banks to resist political pressure to cut borrowing costs and continue the fight against inflation. With over 60 nations holding elections this year, including the US, UK, and India, Georgieva urges policymakers to maintain central bank independence to protect price stability and ensure long-term economic growth. Political interference in central banks' decision-making and personnel appointments is on the rise, posing risks to economies. Georgieva's call comes as some countries, such as the US, South Africa, Thailand, Turkey, Poland, and Hungary, face election-related battles and potential challenges to central bank independence. [Extracted from the article]

Pakistan has received initial approval from the International Monetary Fund (IMF) for the final tranche of a $3 billion bailout program. The approval grants Pakistan access to a payout of approximately $1.1 billion, pending approval from the IMF's executive board. Pakistan has also expressed interest in a successor medium-term program. While the country's economic and financial position has improved, growth is expected to be modest and inflation remains high. Pakistan is heavily reliant on IMF aid, with $24 billion in external financing needs in the upcoming fiscal year. The government plans to seek a new loan of at least $6 billion from the IMF to address economic vulnerabilities. [Extracted from the article]

The International Monetary Fund (IMF) is providing a near-record amount of lending to nearly 100 countries, serving as a safety net against the financial and political risks of the post-pandemic world. The IMF has been addressing economic crises in countries such as Ukraine, Egypt, Argentina, and Pakistan due to rising borrowing costs and conflicts. IMF credit outstanding has reached approximately $151 billion, and this is expected to increase further as the fund expands its support for Egypt. The IMF's managing director, Kristalina Georgieva, has emphasized the importance of addressing income inequality and conflict as factors contributing to instability. The IMF's borrowers often align with the geopolitical priorities of the United States, which views the fund as a tool for promoting national security and economic welfare. Notably, the IMF has supported Ukraine in its conflict with Russia, with the backing of the US. Argentina and Egypt are the two largest borrowers from the IMF, and their loans are tied to economic reforms and geopolitical considerations. [Extracted from the article]