The members also exchanged views on progressing the implementation of Multilateral Convention to Implement Tax Treaty Related Measures to Prevent base erosion and profit shifting (BEPS) to advance the international taxation agenda.

Tunisia reached a deal in principle in October with the IMF for nearly $2 billion to shore up its sinking economy but the bailout still needs approval by the IMF board, which is pressing for reforms, primarily on the economy. Tunisia is heavily indebted and facing high inflation and unemployment.

The global economic slowdown and swelling interest rates are pummeling debt-ridden developing countries, the UN warned, urging bold global action to ward off catastrophe. In a fresh report, the United Nations Conference on Trade and Development cautioned that poorer countries were expected to suffer as higher interest rates eat away...

Global government debt is on track to reach levels not seen since the height of the COVID-19 pandemic, the International Monetary Fund warned. China and the United States are responsible for the vast majority of the expected debt increase over the next five years, the head of the IMF's Fiscal...

Migrants from sub-Saharan Africa faced violence and many were made homeless since Saied ordered "urgent measures" against them. In response, World Bank defers a key board meeting on Tunisia.

Western nations gave out more than $185 billion in grants and cheap loans in 2021, according to the OECD. Official development assistance is one of the pillars of the international financial system. But the 46 Least Developed Nations holding their own UN-organized summit in Doha this week feel short-changed.

UNCTAD’s Secretary-General Rebeca Grynspan and Deputy Secretary-General Pedro Manuel Moreno will lead the organization’s delegation to the fifth UN conference on LDCs (LDC5) taking place in Doha, Qatar from 5 to 9 March.

Kuwait's government resigned on January 23, three months after it was sworn in, following disputes with lawmakers that have plunged the Gulf state into political paralysis. Kuwait's National Assembly is the only fully elected parliament in the Gulf but it has been fraught with repeated crises between the executive and...

The capital will finance PIF's green investments.

There is a rise in the interest of foreign investors in the MENA startup ecosystem as their share increased from 20 percent in 2021 to 47 percent in 2022, reports suggest.

Turkish media say the total number of debt recovery cases rose by about 1.5 million in a year and exceeded 24 million at the height of the crisis in August. Turkey's most recent economic problems started when President Recep Tayyip Erdogan - a lifelong foe of high interest rates -...

Riyadh, Saudi Arabia---The Saudi Central Bank (SAMA) has licensed Manafa, a finance company specialized in debt-based crowdfunding in the kingdom. Manafa  is a closed joint-stock company with a capital of SAR 40 million. The license was granted to the company after a successful trial run in SAMA's Regulatory Sandbox, an...

The external debt of developing economies has more than doubled from a decade ago to US$9 trillion in 2021, the World Bank said. The pandemic has forced many countries to take on more borrowing and World Bank President David Malpass earlier warned that the world is facing a fifth wave...

The bank's revenues declined 12 percent to $12 billion.

The agency's report, published ahead of meetings of International Monetary Fund, the World Bank, and also of G20 finance ministers in Washington, highlighted the need for swift action. But UNDP chief Achim Steiner told reporters in Geneva that despite repeated warnings, "little has happened so far, and the risks have...

In climate-related sectors, debt funding is becoming more prevalent outside of traditional project finance opportunities such as solar parks, wind farms and eco-friendly realty projects. Energy transition opportunities and electric mobility are attracting increasing levels of debt financing, he adds.

Britain, however, relies on gas to create a large proportion of electricity and is therefore particularly exposed to the soaring prices in the wake of Russia's attack on Ukraine. Gas-fired power plants produce just over 40 percent of Britain's electricity requirements.

The failure to flesh out her economic plan failed to calm the jittery markets, however, and the pound slid 2.01 percent against the dollar, falling to as low as $1.1241 after her address.

Abu Dhabi, UAE-- Abu Dhabi National Energy Company (TAQA) has secured $1.09 billion in funding to refinance debt for Mirfa Power and Water Plant. TAQA said in a statement that the Mirfa International Power & Water Company (MIPCO), which owns and operates the plant, secured the dollar-denominated financing from nine...

Saudi Arabia’s Public Investment Fund (PIF), the sovereign wealth fund at the heart of the kingdom’s reform plans to wean the economy off oil, will tap into international debt markets for a debut green bonds issue in a week or so.

After decades of conflict, Iraq is in need of foreign investment, and specifically investment in energy sector infrastructure. China, with its soaring energy needs, has stepped in to fill that gap, and is expanding its presence in Iraq under a 2019 oil for construction deal.

The indebted, privately owned company also said it would focus sales on countries belonging to the NATO alliance. In July last year, an investigation revealed that Pegasus spyware had been sold by NSO to governments around the world and used against human rights activists, politicians, reporters and others.

S&P Global Ratings said that boosting the country's credit score of foreign debt to CCC+ "reflects strong committed international financial support to Ukraine."

The Indian rupee fell to more than 80 per US dollar for the first time on record Tuesday, as the greenback extended its rally and foreign capital outflows intensified.

Under the rule of the Rajapaksa clan, Sri Lanka moved closer to China and borrowed billions of dollars for vanity projects like cricket stadiums and airports as well as a deep-sea port since leased to Beijing. Its coffers further depleted by government tax cuts.

An IMF team said in March that the country faced "major structural challenges", with low growth and investment, along with high unemployment and gaping inequality.

The loan approved Wednesday aims to ensure "affordable bread for the poor, barley for livestock, and agricultural inputs for domestic grain production".

The fund will offer venture debt tools to startups and SMEs.

The Gulf region seems to have a better fiscal positions thanks to high oil prices and the recovery of the economies from the Covid-19 related woes.

The debt dates back to 2020, but payment was stalled amid sanctions against Iran by the United States.

Pakistan's new government, grappling with soaring inflation and political unrest, unveiled a 9.5 trillion rupee ($47 billion) budget Friday, earmarking more than 40 percent to service the country's massive foreign and domestic debt.

Russia said Wednesday that it will start paying its foreign debt in rubles after the United States ended an exemption allowing Moscow to make the payments in dollars held in Russia. The US Treasury announced Tuesday it was closing the escape clause to the drastic financial sanctions imposed on Moscow...

Pakistani Prime Minister Shehbaz Sharif, who took power with a coalition that removed Khan in a no-confidence vote last month, has vowed to jumpstart the moribund economy

Iraq has agreed to pay $1.6 billion in debt to Iran by June 1 to secure a steady gas supply for power generation through the summer, its electricity minister said.

Former tennis star Boris Becker was on Friday jailed for two and a half years after being found guilty by a British court of charges relating to his 2017 bankruptcy.

Here’s a look at which countries in the Gulf Cooperation Council (GCC) have how much debt, and how they compare to their GDP.

Dubai Investments Co. has earned 50 million dirhams ($258 million) from the Emicool deal it concluded earlier. According to the company’s CEO, Khalid bin Kalban, the company will use the funds in debt reduction, paying exceptional profits to shareholders and making further investments. The company sold a 50 percent stake...

The country’s external debt services went up 5 percent, from nearly TND2 billion ($666.69 million) to about TND2.1 billion ($700.02 million).

Sri Lanka's snowballing economic crisis began to be felt after the coronavirus pandemic torpedoed vital revenue from tourism and remittances.

The Sharjah Debt Settlement Committee (SDSC) approved an amount of AED63.11 million ($17.18m), to settle 120 cases of citizens' debts.

Evergrande and all its units halted trading in Hong Kong on Monday.

Saudi Arabia’s National Debt Management Center has closed the March 2022 issuance of Saudi riyal-denominated sukuk, valued at SR10.3 billion ($2.75 billion).

The projects that the SFD contributes to financing through loans and grants in Pakistan amount to around SAR5 billion ($1.33 billion).

Debt dropped to $47.62 billion in 2021 from $63.17 billion in 2020.

Fitch Ratings on Friday downgraded Turkey's debt from BB- to B+ with a negative outlook, citing high inflation and a lack of confidence in policymakers to turn the tide. The downgrade comes after data released earlier in the month showed inflation hitting a two-decade record of nearly 50 percent in...

The debt deferral agreement has been signed in line with the G20 initiative of 2020 led by Saudi Arabia which was in regard of debts deferral owed by the poorest countries.

The credit ratings agency has said the prospects for global economic growth have softened, even if it was to a modest extent.

Two Iranian ex-prisoners have opened a ‘jail restaurant’ to help raise funds to free convicts who are behind bars for unpaid debts.

Commercial Bank of Dubai (CBD) has approved a debt financing deal with Postpay, a leading omni-channel Buy Now, Pay Later (BPNL) provider in the Middle East.

The bonds were 1.8 times oversubscribed.