International Monetary Fund
IMF to disburse $7.5 bln to Argentina
Argentina is set to receive a much-needed disbursement of funds from the International Monetary Fund (IMF), the lender has said, with a fresh staff-level agreement paving the way for access to $7.5 billion.
The aim is to "support Argentina's policy efforts and near-term balance of payments needs," as the country grapples with a tough economic backdrop, the IMF said in a statement.
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Mali: Serbia's public finances stable, focus on better living standards
BELGRADE - Serbian Deputy PM and Finance Minister Sinisa Mali said on Friday Serbia was a country with stable public finances and a serious and responsible economic policy focusing on people and better living standards.
OECD tax reform a 'failure': Tax Justice Network
The Organisation for Economic Cooperation and Development (OECD) has failed in its efforts to reform the international tax system despite several deals in recent years, the Tax Justice Network said yesterday, calling for the United Nations to take over responsibility.
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Who’s afraid of dialogue?
The meeting between Prime Minister Kyriakos Mitsotakis and Turkish President Recep Tayyip Erdogan in Vilnius last week was hailed by some as a new page in the resolution of Greek-Turkish disputes through The Hague, while others were quick to describe it as the first step of a national retreat.
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IMF board approves $3 billion Pakistan deal
The International Monetary Fund (IMF) has approved a $3 billion loan agreement for Pakistan, unlocking crucial funding for the troubled South Asian economy.
In a statement, the IMF said its executive board gave the green light to the nine-month standby arrangement, in order "to support the authorities' economic stabilization program."
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Profits feeding inflation
Across the developed world, we are hearing the argument that high costs are "profit inflation," meaning that rising prices stem mainly from rising profit margins. This is confirmed by reputable economists at multinational banks like UBS and others, by the chief economist of the European Central Bank, Philip Lane, and by its president, Christine Lagarde.
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NBS gross FX reserves hit record-high 22.585 bln euros at end-June
BELGRADE - National Bank of Serbia (NBS) gross FX reserves reached 22.585 bln euros at end-June, their highest end-of-month level since records began in 2000.
The reserves were up by 496.8 mln euros m-o-m, the NBS said in a statement.
Money Troubles: Albania’s Strange Currency Crisis Defies Easy Solutions
Albania uses a flexible exchange rate regime, which means the currency fluctuates freely up and down, depending on supply and demand. This regime is preferred by free-market champions because it allows the market to regulate rates.
Inflation eases sharply in bankrupt Sri Lanka
Sri Lanka's inflation eased to 12 percent in June, official data showed on July 1, the lowest figures since the island nation careened into an unprecedented economic crisis last year.
Sri Lanka defaulted on its $46 billion foreign debt in April 2022 and the public endured months of food, fuel and medicine shortages.
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IMF and Pakistan reach $3 billion stand-by deal
Pakistan could get temporary relief for its ballooning foreign debt with a new stand-by arrangement worth $3 billion announced by the International Monetary Fund (IMF) in Washington on June 30.
The economy has been stricken by a balance-of-payments crisis as it attempts to service crippling external debt, while months of political chaos have scared off potential foreign investment.
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