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International Monetary Fund

World

Somalia To Gain $4.5 Billion In Debt Relief From IMF

Vaishali Shastri -
In order to pay off its debt, Somalia will gain access to a $4.5 billion debt reduction plan with international creditors, the International Monetary...
Global

Sri Lanka Inks Deal With China’s EXIM Bank Covering $4.2 Billion Of Debt

Vaishali Shastri -
China surprised the International Monetary Fund and other creditors by negotiating a provisional debt accord with Sri Lanka and leading separate negotiations with the...
Banking

US President Joe Biden Nominates Former Mastercard CEO Ajay Banga To Head World Bank

Vaishali Shastri -
Ajay Banga, a former CEO of Mastercard Inc, has been nominated by US President Joe Biden to head the World Bank. Biden is betting...
Global

World Bank President David Malpass Announces Resignation

Vaishali Shastri -
World Bank President David Malpass said on Wednesday that he will step down nearly a year before the end of his tenure, according to...
Economy

Lebanon Devalues Its National Currency By 90%

Vaishali Shastri -
On Wednesday, Lebanon depreciated its official exchange rate for the first time in 25 years, lowering it by 90% while maintaining a significant undervaluation...
Global

China Counter-Attacks US On Debt Issue In Africa

Vaishali Shastri -
The US and China verbally clashed over the debt issue in Africa after the former criticized China for being a "barrier" to debt reform...
Indian Ocean Region

Seychelles Is On Track With Paying Off Its External Debts, Says Government

Staff -
Projections made by the finance ministry for 2022 indicate that Seychelles has a debt-to-GDP ratio of 68 percent, coming down from 92 percent in 2020...
World

Zimbabwe In Talks With World Bank, IMF On Paying Off International Debt

Vaishali Shastri -
Zimbabwe is in talks with the World Bank and International Monetary Fund regarding the way to remove its debts with international financial institutions. Finance...
Global

Global Inflation: “Horrifying” Food Insecurity Raises Alarm in Africa

Vaishali Shastri -
Africa’s central banks are struggling to subside inflation which is going uncontrolled. The inflation has caused “horrifying” food insecurity, warned the International Monetary Fund's...
World

Zambia Wins IMF Board Approval For $1.3 Billion Loan Programme

Rohan Ramesh -
Zambia got an International Monetary Fund approval for a $1.3 billion, 38-month loan program on Wednesday. This is a crucial step in the southern...
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