Page 4 - Imf

Sri Lanka seeks up to $4 bn ahead of IMF talks; Pak to name finance chief

The island nation is looking at making a "decent case" before the International Monetary Fund to help preserve the economy, Finance Minister Sabry said

FM Nirmala Sitharaman stresses on timely completion of IMF quota review

The meeting took place ahead of the upcoming Spring Meetings of IMF in Washington DC

Sri Lanka raises key interest rates by 700 basis points to 14.5%

The heavily indebted country has little money left to pay for imports, meaning fuel, power, food and, increasingly, medicines are in short supply

The street has spoken in Sri Lanka: the Rajapaksa brothers have to go

The government prioritized servicing external debt rather than ensuring it could provide for its people

How has India's consumption inequality come down to a four-decade low?

A recent IMF working paper said that India's consumption inequality during the Covid-affected 2020-21 fell to near the lowest level in the last 40 years. It was due to the govt's free ration scheme

Consumption inequality fell to a near-four-decade low in FY21, shows data

IMF study attributes it to free foodgrain supply to 800 million beneficiaries

During Covid, free food helped rein in poverty in India: IMF paper

India has "eliminated low-income poverty (which is based the purchasing power parity or PPP of $1.9 per person a day)", the lead author of the paper said

Monitoring political, economic developments in Sri Lanka very closely: IMF

The International Monetary Fund (IMF) said on Tuesday that it is monitoring political and economic developments in Sri Lanka "very closely" as public unrest in the island nation grows

Sri Lanka finance minister sacked, central bank governor calls it quits

The debt-laden country, run by Rajapaksa and several members of his family since 2019, is struggling to pay for imports of fuel and other goods due to a scarcity of foreign exchange

Sri Lanka's PM Mahinda Rajapaksa may resign amid growing economic unrest

Sri Lanka's Prime Minister Mahinda Rajapaksa and Finance Minister Basil Rajapaksa may step down as early as Sunday as public anger builds against their economic policies

Sri Lanka lifts curfew after violent protests over economic crisis

Hundreds of protesters gathered near Rajapaksa's residence in a Colombo suburb late on Thursday before police moved in to disperse them with tear gas and water cannons

India's forex reserves down by $2.03 billion to $617.648 billion

Continuing their downward trajectory for 3rd consecutive week, India's foreign exchange reserves declined by USD 2.03 billion to stand at USD 617.648 billion in week ended March 25, RBI data showed

India's chance to offer a salve

Sri Lanka's recent travails actually started in 2014-15 with an unlikely coalition of rival parties cobbled together by former President Maithripala Sirisena

Curfew in Sri Lanka after inflation protesters gather at President's home

The island of 22 million people is experiencing rolling blackouts for up to 13 hours a day because the government does not have enough foreign exchange for fuel imports.

Lanka to turn off street lights in deepening economic crisis; shares dive

The island of 22 million people is struggling with rolling blackouts for up to 13 hours a day because the government does not have enough foreign exchange for fuel imports

IMF warns Russia sanctions can chip away dollar dominance: Report

Financial sanctions imposed on Russia threaten to gradually dilute the dominance of the U.S. dollar and could result in a more fragmented international monetary system, IMF's Gita Gopinath said

Crisis-hit Sri Lanka in talks with India for another $1.5-bn credit line

The country of 22 million people is struggling to pay for essential imports after a 70% drop in foreign exchange reserves in two years led to a currency devaluation

Sri Lanka facing 'solvency' issues due to unsustainable debt levels: IMF

A summary of the IMF report released earlier in the month said Sri Lanka faced unsustainable debt levels and needed a 'credible and coherent' strategy to restore stability

IMF approves $44 bn extended arrangement for Argentina to tackle inflation

The International Monetary Fund (IMF) Executive Board approved a $44 billion extended arrangement for Argentina to strengthen the country's debt sustainability and tackle high inflation

Gold, asset devaluation pulls India's forex reserve down by $2.597 bn

Reserve Bank of India data showed that India's forex reserves fell to $619.678 billion from $622.275 billion reported for the previous week