Energy-rich Middle East states are set to reap up to $1.3t in additional oil revenues over the next four years, according to the International Monetary Fund, as they enjoy a windfall that will bolster the firepower of the region’s sovereign wealth funds at a time when global asset prices have sold off.
The International Monetary Fund cut global growth forecasts again on Tuesday, warning that downside risks from high inflation and the Ukraine war were materializing and could push the world economy to the brink of recession if left unchecked.
Bangladesh has asked the International Monetary Fund for support in riding out a financial shock triggered by volatile energy prices after Russia launched its military operation in Ukraine in February, officials said Tuesday.
The global economic outlook remains extremely uncertain, the head of the International Monetary Fund said on Wednesday, warning that further disruption in the natural gas supply to Europe could plunge many economies into recession.
The International Monetary Fund said its talks with crisis-hit Sri Lanka had been "constructive" on Thursday, raising hopes it would soon grant preliminary approval for a desperately needed financial support package.
The International Monetary Fund executive board said Friday it had concluded its fourth and fifth reviews for Ecuador's 27-month Extended Fund Facility (EFF), allowing for the immediate disbursement of about $1 billion.
Sri Lanka closed schools and halted all non-essential government services on Monday, beginning a two-week shutdown to conserve fast-depleting fuel reserves as the International Monetary Fund opened talks with Colombo on a possible bailout.
The International Monetary Fund said it has increased the weighting of the Chinese yuan in its review of the currencies that make up the valuation of its Special Drawing Rights (SDR), an international reserve asset.
OPEC told the International Monetary Fund's steering committee that the surge in oil prices was largely due to the Ukraine conflict, in the latest signal that the producer group would not take further action to add supply.
The leaders of the International Monetary Fund, World Trade Organization and the World Bank called for quick work on a new action plan on food security to be prepared by international financial institutions.
The International Monetary Fund (IMF) expects the Iranian economy will continue to grow in 2022 despite continued pressure on the country because of American sanctions and the economic impacts of the coronavirus pandemic.
The International Monetary Fund on Tuesday slashed its forecast for global economic growth by nearly a full percentage point, warning that inflation was now a "clear and present danger" for many countries.