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IMF

IMF Press Briefing United States Relief Package/ Argentina/ China

3 mins read

The FINANCIAL -- The IMF announced today that the recently passed $1.9 trillion coronavirus relief package would increase U.S. GDP by five to six percent over three years, however, further analysis will be done as the IMF’s World Economic Outlook will be released in early April during the IMF’s 2021 virtual Spring Meetings. Gerry Rice, IMF’s spokesperson added that the relief package will have a positive on many emerging markets but there might be some possible risks in the horizon according to IMF.…

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IMF Press Briefing United States Relief Package/ Argentina/ China

3 mins read

The FINANCIAL -- The IMF announced today that the recently passed $1.9 trillion coronavirus relief package would increase U.S. GDP by five to six percent over three years, however, further analysis will be done as the IMF’s World Economic Outlook will be released in early April during the IMF’s 2021 virtual Spring Meetings. Gerry Rice, IMF’s…

IMF expects Georgia GDP growth to rebound to 4.3 % in 2021

8 mins read

The FINANCIAL — An International Monetary Fund (IMF) staff team led by Mercedes Vera Martin conducted virtual discussions from October 5 to November 9, 2020, on the Seventh Review under the Extended Fund Facility (EFF) arrangement. At the conclusion of the mission, Ms. Vera-Martin issued the following statement: “Following productive discussions, the Georgian authorities and…

IMF/World Bank Annual Meetings in Morocco postponed until 2022

1 min read

The FINANCIAL — The Kingdom of Morocco, the World Bank Group and the International Monetary Fund (IMF) announced today that the planned World Bank Group-IMF Annual Meetings scheduled to take place in Marrakesh, Morocco, in October 2021 will be postponed by 12 months until 2022 due to the COVID-19 pandemic. The Annual Meetings are usually held…

Banco de España and IMF modify agreement to expand lending to low-income countries

1 min read

The FINANCIAL — The International Monetary Fund (IMF), as Trustee of the Poverty Reduction and Growth Trust (PRGT), and the Banco de España have entered into an amendment of their 2017 borrowing agreement through which the Banco de España will provide an additional amount of up to SDR 750 million (about US$1.06 billion ) in new…

IMF Staff and Jordan reach staff-level agreement on the first review under the Extended Fund Facility

5 mins read

The FINANCIAL — An International Monetary Fund (IMF) team led by S. Ali Abbas, concluded virtual discussions with the Jordanian authorities and reached a staff-level agreement on the first review of the authorities’ economic reform program supported by the Extended Fund Facility (EFF) arrangement. This agreement is subject to approval of the IMF’s Executive Board. Completion…

EBRD approved €30 mln credit to boost financial stability in Bosnia and Herzegovina

2 mins read

The FINANCIAL — The European Bank for Reconstruction and Development (EBRD) is providing a €30 million standby credit line to the Deposit Insurance Agency of Bosnia and Herzegovina (DIA) to ensure that citizens and businesses are protected against potential vulnerabilities in the financial sector during the coronavirus pandemic. The new facility will safeguard the financial sector and strengthen the…

Cross-border payments are about to improve

7 mins read

The FINANCIAL — When paying for coffee, we swipe, tap, wave, and soon may wink—a quick and painless exchange of coffee for money. But when paying for imports or sending remittances, we often fill-out forms, wait for days, and pay—too much. Progress to improve cross-border payments has been slow, but is just about to take off.…

International Monetary Fund staff statement on Argentina

2 mins read

The FINANCIAL — An IMF team, led by Julie Kozack Deputy Director of the Western Hemisphere Department and Luis Cubeddu Mission chief for Argentina, visited Buenos Aires from October 6 to 11, 2020 to learn and assess more about the Argentine authorities’ economic plans and policies. At the conclusion of the staff visit, Ms. Kozack…

MF Approves the Request for Augmentation of Access to Support Georgia Address the COVID-19 Pandemic

4 mins read

The FINANCIAL -- The IMF Executive Board approved a disbursement of US$200 million for budget support to help Georgia meet urgent balance of payments and fiscal needs stemming from the COVID-19 pandemic. The pandemic is expected to have a significant impact on Georgia’s economy, interrupting a positive economic trajectory of past years, IMF said in statement.…

IMF:ECONOMIC OUTLOOK AND RISKS

15 mins read

DEVELOPMENT COMMITTEE: THE MANAGING DIRECTOR'S WRITTEN STATEMENT -- The global coronavirus outbreak is a crisis like no other and poses daunting challenges for policymakers in many emerging market and developing economies (EMDEs), especially where the pandemic encounters weak public health systems, capacity constraints, and limited policy space to mitigate the outbreak's repercussions. A severe economic…

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IMF Reaches Staff-Level Agreement on Sixth Review for Georgia’s Extended Fund Facility, Request for Augmentation

5 mins read

The FINANCIAL – IMF team reaches a staff level agreement with the Georgian authorities for the completion of the Sixth Review and an augmentation of access under the Extended Fund Facility. Pending the Executive Board approval, about $200 million will be made available immediately to the budget to help Georgia cope with the COVID-19…

IMF is “ready to deploy all US$1 trillion lending capacity” to save members

4 mins read

The FINANCIAL -- “The human costs of the Coronavirus pandemic are already immeasurable and all countries need to work together to protect people and limit the economic damage. This is a moment for solidarity—which was a major theme of the meeting today of the G20 Finance Ministers and Central Bank Governors", International Monetary Fund Managing Director…

Blunting the Impact and Hard Choices: Early Lessons from China”

8 mins read

  The impact of the coronavirus is having a profound and serious impact on the global economy and has sent policymakers looking for ways to respond. China's experience so far shows that the right policies make a difference in fighting the disease and mitigating its impact—but some of these policies come with difficult economic tradeoffs.…

IMF Executive Board Approves Reform Package to Enhance Support to Low-Income Countries

6 mins read

On May 24, 2019 the Executive Board of the International Monetary Fund (IMF) concluded the 2018-19 Review of Facilities for Low-Income Countries—Reform Proposals ("Facilities Review") and the companion Review of the Financing of the Fund's Concessional Assistance and Debt Relief to Low-Income Countries ("Financing Review").…