Ukraine secures new IMF loan after making reforms

The Ukrainian leader says the International Monetary Fund has approved a new loan for the country. President Petro Poroshenko hailed the move as recognition of Ukraine's progress in stabilizing its economy and implementing reforms. Continue Reading Below Poroshenko said Wednesday that the IMF would quickly release the first installment, worth $1.4 billion, out of the new $3.9-billion loan package. The […]

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How to end the govt-RBI rift

‘Has the time come to devise Version 2 of ad hoc T-bills?’‘In return, the government must agree to privatise all but five or six banks.’‘If something like this is not done, we will have governments going on the rampage, with increasing frequency,’ says T C A Srinivasa Raghavan.Illustration: Dominic Xavier/Rediff.com The unseemly wrangle last month between the government and the […]

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UPDATE 1-IMF approves $3.7 bln credit facility for Angola

(Adds detail, context) JOHANNESBURG, Dec 8 (Reuters) – The International Monetary Fund said its board had approved a $3.7 billion credit facility for Angola to support economic reforms and would immediately disburse around $990 million. Angola said in August it had sought financial support from the IMF due to weaker-than-expected economic growth. Africa’s second-largest oil producer has been hurt by […]

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IMF approves $3.7 bln credit facility to support Angolan economy

JOHANNESBURG, Dec 8 (Reuters) – The International Monetary Fund said its board had approved a $3.7 billion credit facility for Angola to support economic reforms and said it would immediately disburse around $990 million as part of the three-year facility. The lending programme “will help Angola restore external and fiscal sustainability and lay the foundations for sustainable, private-sector-led economic diversification,” […]

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IMF cites progress in talks on Pakistan bailout

Pakistan and the International Monetary Fund have made "significant progress" toward agreeing on an $8 billion bailout package, the Fund said Tuesday following a week of talks in Islamabad. "There has been broad agreement on the need for a comprehensive agenda of reforms and policy actions aimed at reducing the fiscal and current account deficits, bolstering international reserves, strengthening social […]

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'Multiple and intertwined risks' cloud outlook for the Middle East and its neighbors, IMF says 

Oil producing countries in the Middle East could benefit from higher crude prices in 2019, but regional uncertainties weigh on growth. A new report from the International Monetary Fund encouraged countries in the MENAP region to introduce more reforms that would diversify their economies away from oil. Rising oil prices could weaken the resolve of oil exporters to continue reforms. […]

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Heads of World Bank, IMF say risks of trade tensions growing

International Monetary Fund (IMF) Managing Director Christine Lagarde attends a news briefing after the Third Round Table Dialogue in Beijing, Tuesday, Nov. 6, 2018. (Thomas Peter/Pool Photo via AP) Leaders of the World Bank, International Monetary Fund and other global financial organizations warned Tuesday that trade tensions pose a growing risk for emerging economies. Continue Reading Below With the U.S. […]

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IMF says Iran should safeguard stability in face of U.S. sanctions

WASHINGTON (Reuters) – The International Monetary Fund said on Thursday that Iran should implement policies to safeguard its macroeconomic stability in the face of reimposed U.S. sanctions that will cut Iranian economic growth by reducing oil exports. IMF spokesman Gerry Rice also told a regular media briefing that the Fund was urging Iran to strengthen its anti-money laundering and anti-terrorism […]

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IMF increases Argentina financing deal to $56.3 billion

WASHINGTON/BUENOS AIRES (Reuters) – The International Monetary Fund on Friday increased the size of a standby financing agreement for Argentina to $56.3 billion in a deal that toughens previously agreed fiscal measures. Argentina’s President Mauricio Macri agreed to a $50 billion IMF deal in June, hoping it would stop a run on the country’s peso currency.     But the peso […]

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