IMF provisionally agrees to offer $ 2.9 billion loan for crisis-hit Sri Lanka

The International Monetary Fund will provide Sri Lanka a loan of about $ 2.9 billion over four years under a preliminary agreement to help the crisis-hit country tide over its worst economic hardships, the international lender announced. Sri Lanka is going through its worst economic crisis since its independence in 1948 which was triggered by a severe […]

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Asia growth slows on commodities, Covid and rising interest rates

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Economic growth in Asia and the Pacific is poised to slow more than previously estimated this year amid headwinds from the war in Ukraine, a resurgent pandemic, and tightening global financial conditions, the International Monetary Fund (IMF) said. “Regional gross domestic product will expand by 4.9 percent, 0.5 percentage points less than we forecast in […]

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IMF lowers global economic growth to 3.6% due to the Ukraine war

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The International Monetary Fund (IMF) has revised its global economic growth forecast lower at 3.6% this year and the next due to the war in Ukraine and new bottlenecks in supply chains due to Covid-related lockdowns in China. “Compared to our January forecast, we have revised our projection for global growth downwards to 3.6 percent […]

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Multilateral institutions call for urgent coordinated action on food security

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The Heads of the World Bank Group (WBG), International Monetary Fund (IMF), United Nations World Food Program (WFP), and World Trade Organization (WTO) have called for urgent action on food security. “The world is shaken by compounding crises. The fallout of the war in Ukraine is adding to the ongoing COVID-19 pandemic that now enters […]

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War-fuelled surge in food prices to hit poorer nations hardest

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Global food prices are poised to keep climbing even after jumping to a record in February, placing the heaviest burden on vulnerable populations while adding to headwinds for the global economic recovery, the International Monetary Fund (IMF) said. Food commodity prices rose 23.1 percent last year, the fastest pace in more than a decade, according to […]

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