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IMF

'Spend as much as you can,' IMF head urges governments worldwide
World

'Spend as much as you can,' IMF head urges governments worldwide

  • In terms of policies for right now, very unusual for the IMF, starting in March I would go out and I would say: 'please spend'. Spend as much as you can and then spend a little bit more.
  • Georgieva praised Russia's synchronised response to the economic challenges created by the COVID-19 pandemic.
Published 15 Jan, 2021 08:16pm
Chilean central bank to buy $12bn to replenish FX reserves
Markets

Chilean central bank to buy $12bn to replenish FX reserves

  • The bank said it would take the step ahead of the closing off in mid-2022 of a flexible, $24 billion credit line extended by the IMF.
  • The board considers it prudent to initiate a process that allows it to replace the role of the FCL (flexible credit line) by gradually accumulating international reserves.
Published 13 Jan, 2021 08:52pm
IMF projects Egypt's economy will grow 2.8pc in 2020/21 year
World

IMF projects Egypt's economy will grow 2.8pc in 2020/21 year

  • Egypt's economy had been boosted in the last three years by an upswing in tourism.
  • The growth impact of the COVID-19 crisis has so far been less severe than expected, as strong consumption helped offset weak tourism and investment.
Published 08 Jan, 2021 07:37pm
COVID-19 Pandemic in Developing Countries Conference
Markets

COVID-19 Pandemic in Developing Countries Conference

This conference is planned to open avenues of communication between the IMF and stakeholders in developing economies to better understand the impact of the crisis and also between low income countries and middle income emerging markets given that these country groups are facing increasingly similar challenges.
Published 11 Dec, 2020 10:45am
Colombia has drawn $5.4bn from flexible credit line, IMF says
World

Colombia has drawn $5.4bn from flexible credit line, IMF says

  • The authorities will use the drawing to help meet higher financing needs whilst maintaining strong external buffers in a context of heightened global uncertainty.
  • In a separate announcement on Thursday, the central bank said it would buy $1.5 billion from the government for its international reserves.
Published 04 Dec, 2020 12:49am
Bulgarian economy may contract more than 4pc this year: IMF
World

Bulgarian economy may contract more than 4pc this year: IMF

  • In October, the IMF forecast the small and open economy to contract by 4% in 2020 and saw its unemployment rate at 5.6%.
  • On Tuesday, the Balkan country of 7 million people reported 3,816 new coronavirus cases, bringing the total to 78,976, including 1,771 deaths.
Published 10 Nov, 2020 07:18pm
Kenya starts talks with IMF on new lending facility
World

Kenya starts talks with IMF on new lending facility

  • The government has abandoned expensive commercial debt to cut back on ballooning repayments at a time when its revenue collection has been squeezed by the pandemic.
  • "We are looking at a disbursement arrangement where we, to some extent, benefit from budget support," he said.
Published 03 Nov, 2020 07:45pm