International Monetary Fund
Recent News About International Monetary Fund
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Global Sovereign Debt Roundtable evaluates progress on debt restructuring
The Global Sovereign Debt Roundtable (GSDR) convened in Washington, DC, on October 23, 2024, to evaluate progress in enhancing debt restructuring processes and timelines. The meeting also focused on addressing debt vulnerabilities and identifying priority areas for future work.
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Global economic outlook focus of ninth high-level RFA dialogue
The ninth High-level Regional Financing Arrangements (RFAs) Dialogue took place on October 23, 2024, in Washington, DC. The meeting occurred amid a global economic outlook that is improving yet remains fragile due to a complex geoeconomic environment and policy uncertainty. Recent volatility in global financial markets highlighted the necessity of a robust Global Financial Safety Net, which includes collaboration between the International Monetary Fund (IMF) and RFAs.
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Report outlines pathways for coordinated global climate action
Five international organizations have released a comprehensive report aimed at promoting coordinated approaches to climate action, carbon pricing, and addressing policy spillovers. The Joint Task Force on Climate Action, Carbon Pricing, and Policy Spillovers presented the report titled "Working Together for Better Climate Action: Carbon Pricing, Policy Spillovers, and Global Climate Goals" on October 23 in Washington, DC. This task force was convened by the World Trade Organization (WTO) and included contributions from the International Monetary Fund (IMF), the Organization...
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IMF reaches staff-level agreement on reviews of Rwanda's financial arrangements
From October 7 to October 20, 2024, an International Monetary Fund (IMF) team led by Ruben Atoyan engaged in discussions with Rwandan authorities regarding the nation's policy priorities and reform progress. These discussions took place within the framework of the fourth reviews of Rwanda’s Policy Coordination Instrument (PCI) and Resilience and Sustainability Facility (RSF), along with the second review of the Stand-by Credit Facility (SCF) arrangement. The IMF Executive Board is expected to consider these reviews in December 2024. Following this review, Rwanda may access...
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African Caucus meeting discusses strategies for strengthening Africa's economic resilience
On October 22, 2024, Mr. Wale Edun, Nigeria’s Minister of Finance and Chair of the African Caucus, alongside Ms. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), released a statement following the conclusion of an African Caucus meeting in Washington, DC.
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G-24 addresses global economic concerns amid geopolitical tensions
The Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development (G-24) recently convened in Washington, D.C., addressing several pressing global issues. The meeting, chaired by Ralph Recto from the Philippines, focused on humanitarian crises, economic stability, and multilateral cooperation.
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IMF board approves reforms reducing borrowing costs by $1.2 billion annually
The International Monetary Fund (IMF) Executive Board has concluded its review of charges and the surcharge policy, marking the first time these elements have been jointly assessed alongside commitment fees. This review is part of ongoing efforts to ensure that the IMF's lending policies are effective in supporting member countries amid global challenges.
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Liechtenstein joins International Monetary Fund as its newest member
The Principality of Liechtenstein has officially joined the International Monetary Fund (IMF) as its 191st member. The membership was formalized when Prime Minister Daniel Risch signed the IMF's Articles of Agreement during a ceremony held in Washington, D.C., on October 21, 2024.
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IMF reaches staff-level agreement with São Tomé for extended credit facility
The International Monetary Fund (IMF) has reached a staff-level agreement with São Tomé and Príncipe on an Extended Credit Facility (ECF) arrangement. This announcement follows discussions led by Slavi Slavov, the IMF Mission Chief for São Tomé and Príncipe, who visited the country from May 23 to June 5, 2024, and held subsequent virtual meetings.
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IMF reaches agreement with Armenia on fourth review under Stand-By Arrangement
An International Monetary Fund (IMF) team, led by Iva Petrova, conducted discussions in Yerevan from September 18 to October 1, 2024, followed by virtual meetings regarding the fourth review under the Stand-By Arrangement (SBA) with Armenia. Ms. Petrova announced that a staff-level agreement has been reached with Armenian authorities on policies for completing this review.
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IMF completes first review under extended credit facility for Ethiopia
The International Monetary Fund (IMF) Executive Board has completed the first review of Ethiopia's 48-month Extended Credit Facility (ECF) arrangement. This decision enables an immediate disbursement of approximately US$340.7 million, aiding Ethiopia in meeting its balance of payments needs. With this development, total disbursements under the arrangement have reached about US$1.363 billion.
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IMF completes fifth review of Ukraine's extended fund facility
The International Monetary Fund (IMF) Executive Board has completed the fifth review of the Extended Fund Facility (EFF) arrangement for Ukraine, allowing the nation to access US$1.1 billion for budget support. This brings total disbursements under the program to US$8.7 billion. The 48-month EFF arrangement, which was approved on March 31, 2023, provides Ukraine with SDR 11.6 billion, equivalent to US$15.5 billion or about 577 percent of its quota.
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IMF reaches staff-level agreement with Honduras after economic policy review
An International Monetary Fund (IMF) team, led by Ricardo Llaudes, visited Tegucigalpa, Honduras, from October 7 to 18, 2024. This visit was part of ongoing discussions that have been both in-person and virtual over recent months. At the conclusion of the visit, Mr. Llaudes issued a statement outlining the outcomes of their discussions.
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IMF announces discussions with Sierra Leone on new credit facility
The International Monetary Fund (IMF) has reported that it held discussions with Sierra Leonean authorities regarding a new arrangement under the Extended Credit Facility (ECF). The focus of these talks was to gain an understanding of the authorities' development objectives and identify necessary reforms to achieve macroeconomic stability and ensure debt sustainability.
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IMF announces agreement with Central African Republic
The International Monetary Fund (IMF) has declared that it has reached a staff-level agreement with the Central African Republic on the second review of the Extended Credit Facility (ECF). This agreement sets the stage for the impending approval of the second review of the ECF-supported program by the IMF Executive Board, provided certain economic policy conditions are met.
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International Monetary Fund Deputy Managing Director visits Suriname
Kenji Okamura, Deputy Managing Director of the International Monetary Fund (IMF), issued a statement this week following a three-day visit to the Republic of Suriname. During his trip, Okamura met with the republic’s president, vice president, and various officials.
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IMF: 'Executive Directors welcomed the opportunity to discuss the board paper on elements of effective policies for crypto assets'
The IMF said that its executive board recently had the opportunity to discuss the paper "Elements of Effective Policies for Crypto Assets," which addresses the risks and benefits of crypto assets
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IMF: Crypto 'concerns can be addressed by strengthening financial regulation and supervision, and by developing global standards'
The IMF's Bo Li and Nobuyasu Sugimoto recently said that global cooperation to enact targeted regulations is needed to address concerns surrounding the crypto industry.
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IMF appoints new Director of Strategic Communications: ‘Julie is well known for her strategic thinking and innovative ideas’
Kristalina Georgieva, managing director of the International Monetary Fund, recently announced the appointment of Julie Kozack as the IMF’s new director of strategic communications.
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Georgieva: Christensen named director of the Corporate Services for IMF
Kristalina Georgieva, managing director of the International Monetary Fund (IMF), has recently announced the appointment of Brian Christensen as IMF Director of Corporate Services and Facilities (CSF).