Sunday, 9 August 2020

Tag Archives: IMF

Pandemic to hit 170 countries’ GDP in 2020: IMF

ISTANBUL: Some 170 countries will face narrowing in their GDP this year due to the novel coronavirus’ impact on the economy, the directing manager of the International Monetary Fund (IMF) said. “Only months ago we were projecting 160 economies to register positive per capita income growth,” Kristalina Georgieva stressed. The ...

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Virus affects 81% of global workforce

LONDON: The International Labour Organization (ILO) told the World Bank and International Monetary Fund (IMF) that workplace closures have risen so fast that 81% of the global workforce live in countries with mandatory or recommended closures. ILO Director-General Guy Ryder urged the IMF and World Bank to focus their response ...

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IMF approves $1.4B in coronavirus aid to Pakistan

NEW YORK: The IMF approved nearly $1.4 billion in emergency aid to Pakistan to help it weather the impact of the coronavirus pandemic. “While uncertainty remains high, the near-term economic impact of COVID-19 is expected to be significant, giving rise to large fiscal and external financing needs,” the international lender ...

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Rouhani: IMF must fulfill its duties without bias against Iran

TEHRAN: Iranian President Hassan Rouhani says the International Monetary Fund (IMF) must fulfill its duties toward all member countries, including Iran, without any bias. Rouhani made the remarks in a phone conversation with Governor of the Central Bank of Iran (CBI) Abdolnasser Hemmati on Thursday, during which the CBI official ...

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Egypt’s inflation lowest in nearly a decade

CAIRO: Egypt’s inflation rate dropped to the lowest level in nearly a decade last month, official figures showed Saturday, as cheaper food offered respite to consumers squeezed by IMF-backed reforms. The annual inflation rate was 2.4 percent in October, compared with 17.5 percent a year earlier, the Central Agency for ...

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IMF urges reforms of global trade system

WASHINGTON: The International Monetary Fund welcomed signs of a de-escalation in US-China trade tensions but said an urgent updating of trade rules was needed to restore strong growth to the global economy. Managing Director Kristalina Georgieva said she was encouraged by news of a tentative trade deal reached by Washington ...

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IMF approves $6b loan package for Pakistan

NEW YORK: The International Monetary Fund Executive board approved a three-year, $6 billion loan package for Pakistan to rein in mounting debts and stave off a looming balance of payments crisis, in exchange for tough austerity measures. Board approval will allow immediate disbursement of around $1 billion, with the remainder ...

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Pakistan hopes IMF will approve $6b bailout package

Pedestrians walk past the International Monetary Fund headquarters' complex in Washington Sunday, May 2, 2010. A senior International Monetary Fund official says the IMF's executive board is meeting in Washington to consider how much aid to grant Athens under a massive rescue loan package.

ISLAMABAD: Pakistan believes that International Monetary Fund (IMF) would approve bailout package worth of $6 billion in its executive board meeting on July 3, 2019 as Islamabad has taken all advance actions agreed with the Fund. Pakistan had agreed with the IMF for taking tough economic decisions before the Fund ...

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Pakistan bracing for austere budget under IMF, finance chief says

ISLAMABAD: Pakistan is preparing a belt-tightening budget to tame its fiscal deficit, the de facto finance minister said on Saturday, adding that both civilian and military rulers agreed austerity measures were needed to stabilize the economy. But Hafeez Shaikh, Prime Minister Imran Khan’s top finance adviser, declined to say whether ...

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Pakistan growth to hit eight-year low as IMF bailout looms

Pedestrians walk past the International Monetary Fund headquarters' complex in Washington Sunday, May 2, 2010. A senior International Monetary Fund official says the IMF's executive board is meeting in Washington to consider how much aid to grant Athens under a massive rescue loan package.

KARACHI: Pakistan’s growth rate is set to hit an eight-year low, a government report predicted Friday, with all major indicators down as the country continues negotiating its 22nd bailout from the International Monetary Fund. A report by the National Accounts Committee, released late Thursday, forecast growth of a mere 3.3 ...

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