IMF Archives - Voice of the Cape

Pakistan supplied arms to Ukraine in return for IMF bailout with help of US – report

Pakistan supplied munitions and arms to Ukraine in return for the recent bailout to the South Asian country by the International Monetary Fund (IMF) in a deal brokered by the United States, leaked documents have revealed. According to an investigation by The Intercept, two sources with knowledge of the arrangement, as well as internal Pakistani and American government documents, revealed that Pakistan had succumbed to US pressure to covertly support Ukraine […]

19 September 2023

International

IMF cuts 2023 global outlook over colliding global shocks

INTERNATIONAL The International Monetary Fund (IMF) has cut its global growth forecast for 2023 as economic pressures collide, from the war in Ukraine, high energy and food prices and sharply higher interest rates. The IMF warned on Tuesday that conditions could worsen significantly next year and said it expected more than a third of the world’s economy to contract. “The three largest economies – the United States, China and the euro area […]

12 October 2022

International

Lebanon: World Bank describes country’s finances as damaging Ponzi scheme

INTERNATIONAL The World Bank has accused Lebanese authorities of operating a giant Ponzi scheme that has "caused unprecedented social and economic pain" over the past three decades. A Ponzi scheme is a type of scam that pays back investors with money from new investors. In a report published on Wednesday, the bank said the earlier necessary "reforms will be initiated, the less painful the cost of Ponzi Finance will be […]

4 August 2022

International News

Sudan: IMF approves $2.5bn loan and $50bn debt-relief deal

The International Monetary Fund (IMF) on Tuesday approved a $2.5bn loan for Sudan, and with the World Bank sealed a landmark deal that unlocks nearly $50bn in debt relief for the impoverished African nation. The announcement came after the IMF finalised an agreement with 101 donor countries allowing Sudan to clear roughly $1.4bn in arrears to the Washington-based lender - the key hurdle to allow access to fresh aid. "We […]

30 June 2021

Local

Political parties concerned about impact of IMF loan on SA’s sovereignty

Political parties have reacted differently to the International Monetary Fund’s (IMF) multi-billion rand loan to South Africa. The Executive Board of the IMF has approved the country’s request for a R70 billion loan to help bolster its response to the economic impact of the COVID-19 pandemic. However, with rampant corruption in the country, some parties are skeptical the money will reach and meet its intended purpose. The R70 billion loan […]

29 July 2020

International News

IMF warns of deeper MENA recession and rising social unrest risks

The economic outlook for the Middle East and North Africa (MENA) was already grim as the region struggles to cope with the fallout of the coronavirus pandemic. On Monday, that horizon darkened further as the International Monetary Fund (IMF) projected an even deeper recession for the region, and warned of the spectre of rekindling social unrest as inequality and poverty deepens. The IMF now sees economic growth in the Middle […]

14 July 2020

Local

SA seeking R95 billion for COVID-19 social and economic crises

South Africa is seeking to acquire R95 billion of funding from global financial institutions to address the coronavirus social and economic crisis. President Cyril Ramaphosa has announced a R500 billion stimulus package aimed at cushioning the economic impact of the pandemic. The country moves to level-4 of the lockdown from the first of May. While some of the funds for the stimulus package will come from reprioritisation of the budget […]

26 April 2020

International News

Jordan sees largest anti-government protests in years

Hundreds of Jordanians took to the streets of the capital Amman on Sunday in a fourth day of nightly protests against IMF-backed price increases that have shaken the kingdom. Demonstrators who converged near the cabinet office chanted slogans calling for the sacking of Prime Minister Hani Mulki, vowing they would only disband if the government rescinded a tax bill it sent to parliament last month, which critics say worsens living […]

4 June 2018

International News

IMF to add Islamic finance to market surveillance in 2019

The International Monetary Fund will incorporate Islamic finance into its financial sector assessments of select countries starting next year, aiming to improve regulation in the growing sector. The IMF has traditionally focused on conventional banking, but it has been increasingly engaging with regulators in countries where Islamic finance is now deemed to be systemically important. Under a proposal by the IMF’s executive board, guidance issued by the Malaysia-based Islamic Financial […]

25 May 2018

IMF

Download our new app

Download
our new app