Pakistan ex-PM Imran Khan urges IMF to call election audit, his lawyer says
Islamabad, Pakistan Reuters Pakistan’s jailed former prime minister Imran Khan will write to the IMF urging it to call for an independent audit of the country’s controversial 8th February national elections before it continues talks with Islamabad, his lawyer said on Thursday. Pakistan averted default last summer thanks to a short term International Monetary Fund bailout, but […]
Niger arrests politicians after coup, other juntas voice support
Niamey, NigerReuters The junta that seized power in Niger last week detained senior politicians on Monday, their party said, defying international calls to restore democratic rule, while fellow military rulers in West Africa expressed their support. The overthrow of President Mohamed Bazoum has sent shockwaves across West Africa, pitting Niger’s former Western allies against the […]
Paris finance summit breaks new ground in climate, poverty fight
Barcelona, SpainThomson Reuters Foundation A new patchwork of pledges from the world’s biggest development lenders, set to release hundreds of billions of dollars for poorer nations, has raised hopes the financial floodgates are finally starting to open in tackling climate change and poverty. Last week’s “Summit for a New Global Financing Pact” in Paris – […]
Lebanon’s crisis deepens as presidential vote collapses
Beirut, LebanonReuters The powerful Hezbollah group and its allies thwarted a bid by their rivals to elect a top IMF official as Lebanon’s president on Wednesday, sharpening sectarian tensions and further dimming prospects for preventing a collapse of the state. Four years since Lebanon went into a financial meltdown that marks its worst crisis since […]
Tunisia’s financial crisis leaves the sick struggling to find medicine
Tunis, TunisiaReuters Sick Tunisians face a frantic struggle to find some medicines because the cash-strapped state has reduced imports, leaving doctors unable to control debilitating health problems and patients turning to informal markets for their medication. Hundreds of medicines have been missing for months, pharmacies say, including important treatments for heart disease, cancer and diabetes […]
Debt-laden African countries charged “extortionate” rates, UN chief says
Addis Ababa, EthiopiaReuters Heavily indebted African countries are getting a raw deal from the international financial system which charges them “extortionate” interest rates, the UN Secretary-General Antonio Guterres said on Saturday. The United Nations chief wants far-reaching reforms to the structure of international finance to serve the needs of developing countries more efficiently, he told […]
External backers pour billions into Ukraine to counter war damage
Kyiv, Ukraine/London, UK Reuters Pictures of devastation in Ukraine following Russia’s invasion have sparked urgent questions over how its reconstruction can be paid for. But before they can even begin to be answered, Kyiv is seeking billions just to ride out this year. After a 30 per cent contraction in its economy in 2022, Ukraine […]
Davos 2023: Outlook brighter than feared, fraught with risks
Davos, Switzerland Reuters The year ahead looks better than feared for the global economy but remains fraught with risks including escalation of the conflict in Ukraine and the emergence of a transatlantic trade war, the World Economic Forum’s final panel concluded. International Monetary Fund Managing Director Kristalina Georgieva told the Davos audience that what had improved […]
IMF says up to 20 countries could require emergency assistance to ease food crisis
Riyadh, Saudi Arabia Reuters The International Monetary Fund said on Monday that up to 20 countries, many in Africa, could need emergency assistance to cope with the global food crisis. IMF Managing Director Kristalina Georgieva, speaking at a conference in Saudi Arabia, also said that 141 million people across the Arab world are exposed to […]
Pakistan will “absolutely not” default on debts despite floods: Finance Minister
Islamabad, PakistanReuters Pakistan will “absolutely not” default on debt obligations despite catastrophic floods, the finance minister said on Sunday, signalling there would be no major deviation from reforms designed to stabilise a struggling economy. Floods have affected 33 million Pakistanis, inflicted billions of dollars in damage, and killed over 1,500 people – creating concern that […]