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Latest news, features and opinion on the International Monetary Fund (IMF). The 189-nation IMF promotes global monetary cooperation, facilities trade, encourages sustainable growth and makes funds available to countries experiencing fiscal difficulties.
Services sector and overseas demand for exports may have buoyed first-quarter GDP, but daunting challenges remain for country on path to recovery.
- As of June 2023, the Export-Import Bank of China owned 25.2 per cent of the Maldives’ external debt and was the country’s biggest single lender
- Official data showed the Maldives’ foreign debt exceeding US$4 billion last year, about 118 per cent of GDP and up nearly US$250 million from 2022
A high-level official with the International Monetary Fund has said if divisions persist between China and the West, the damage that would be done to the global economy would be considerable.
Madagascar, Ivory Coast and Nigeria were first on the itinerary for Tokyo’s top diplomat this week, as she also sought to push Japan’s Indo-Pacific strategy in Sri Lanka and Nepal.
Ebrahim Raisi, the first Iranian leader to visit Sri Lanka since 2008, says the project marks his country’s ability to share knowledge with other nations.
The airport is named after former president Mahinda Rajapaksa, who borrowed heavily from China for infrastructure projects that quickly became commercial failures.
The Indian prime minister’s ruling BJP has vowed to attain developed economy status within 25 years. But a host of legacy issues still need tackling.
Asia official with Washington-based agency points to the PBOC’s policy moves, as well as China’s infrastructure spending, as economic bellwethers in the face of headwinds.
After the release of China’s first-quarter GDP growth, International Monetary Fund says the lack of a ‘comprehensive response’ could lead to less economic growth than Beijing is hoping for this year.
US Treasury Secretary’s meetings to include talks with China on ‘balanced growth’, a new dialogue to address China’s excess industrial capacity for EVs, solar panels and other clean energy goods.
China has pledged to develop the Colombo International Airport and Hambantota port, and play a ‘positive role’ in Sri Lanka’s debt restructuring.
China surpassed the US to become the top direct purchase choice for South Korean online shoppers, but that may deal a blow to local manufacturers, who lag behind Chinese rivals in cost competitiveness.
People’s Bank of China governor Pan Gongsheng tells the Boao Forum for Asia on Wednesday that established international institutions, including the International Monetary Fund (IMF), are in need of reform.
Many Sri Lankans have yet to benefit from a new social welfare programme and are still struggling with the IMF’s harsh austerity measures.
People’s Bank of China (PBOC) has named two new academic advisers for its monetary policy committee, which submits advice to the State Council on key moves including interest rate changes and the value of the yuan.
The agreement is designed to boost cooperation in areas including trade and security, while delivering funding over the next three years to support Egypt’s economy.
In a self-published account of his downfall, former president Gotabaya Rajapaksa said “Chinese funded infrastructure projects brought in an element of geopolitical rivalry” that precipitated his overthrow.
The new government will have to immediately start talks with the IMF for the next agreement to shore up the country’s economy.
The barter deal allows sanctions-hit Iran to avoid having to use up scarce hard currency to pay for imports of popular tea. It also allowed Sri Lanka to pay with tea, as the country was short of foreign currency.
A weak coalition led by ex-PM Shehbaz Sharif and the military’s preferred parties is also what the country’s establishment wished for.
