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As part of the Spring Meetings, Ms Sitharaman will attend the IMF’s Finance Committee meeting and the World Bank’s Development Committee meeting; these are the highest decision making bodies of both organisations.
“As soon as adequate assurances are obtained and remaining requirements are met, including by the Sri Lankan authorities, the EFF arrangement for Sri Lanka can be presented to the IMF’s Executive Board for approval.”
Colombo must finalise a debt treatment plan before the IMF’s scheduled review this month, as the second tranche of the IMF loan is contingent on it.
Discussing the country’s economic challenges, Rashid emphasized that the IMF’s stringent conditions would exacerbate problems for Pakistan’s economy and further harm the underprivileged.
However, they noted that staff at the IMF’s technical team for Türkiye changed recently and new members joined the team.
The average total public debt-to-GDP ratio in East Africa reached 87 percent in 2021, from 79 percent in 2020, way more than the IMF’s recommended threshold of 40 percent for developing countries.
Source: https://www.kbc.co.ke/private-sector-key-to-addressing-debt-problem-in-horn-of-africa/
The Financial Stability Group was created following a recommendation from the banking inquiry and the IMF’s 2016 assessment of the financial sector.
Source: https://www.irishexaminer.com/business/economy/arid-41092408.html
The gross reserves will be equal to 4.5 months of import payments, according to IMF’s forecast.
Source: http://bangladeshchronicle.net/bangladeshs-forex-reserves-to-hit-4-year-low-in-fy23-imf/
The IMF program was suspended in March 2020 due to the arrival of COVID-19, and has undergone many starts and stops since then, as Younus says the government failed to meet some of the IMF’s demands.
Source: https://time.com/6247300/pakistan-food-crisis-climate-change-inflation/
The IMF’s 4.033% annual interest rate will apply to the loan, reported telam, Argentina’s state media outlet.
Source: https://www.al-monitor.com/originals/2023/08/qatar-loans-argentina-775-million-repay-imf
The IMF’s RCF in November 2020 was designed to pay for salary arrears for government civil servants, as well as for the military.
Source: https://www.eyeradio.org/heres-how-juba-spent-2020-2021-imf-loan-report-2/
The Pakistani officials are baffled by IMF’s “shifting goalposts” as the country makes hectic efforts to woo the lender which has set new conditions to unlock the $6.5 billion Extended Fund Facility (EFF) signed in 2019, Geo News reported.
Source: https://www.canindia.com/pakistan-surrenders-to-another-imf-demand/
The staff-level agreement that was supposed to be signed on February 09 has been delayed after then over the IMF’s demands.
Source: https://thefrontierpost.com/imf-seeks-tax-imposition-on-shopkeepers-in-budget/
The World Bank has followed along with the IMF’s statements and also recently predicted a sharp global economic downturn in 2023 leading to widespread instability.