The emergency funding was set up to help nations that have been severely impacted by the Covid-19 pandemic.

Disagreements over the size of the losses between Lebanon's government, central bank, and banking sector contributed to the collapse last year of negotiations with the fund over a new loan program, which is seen as essential to the country's efforts to emerge from a severe economic slump.

Morocco’s new government aims to narrow the wealth gap in the country where unemployment is running at almost 13 percent. The economic recovery is expected to continue, although the pandemic may leave some scars.

The president of the CGEM, Chakib Alj, highlighted 15.2 percent growth in the Moroccan economy in the second quarter of 2021.

Gopinath will succeed Geoffrey Okamoto as first deputy managing director, serving under IMF chief Kristalina Georgieva.

During Algeria's transition to a market economy in the 1990s, subsidies replaced the fixed prices of a planned economy that had been in place since independence from France in 1962. Algeria's subsidy system has been financed by energy exports that account for about 95 percent of foreign revenues and 60...

Consumption of natural gas rebounded fast — driven by industrial production — boosting demand at a time when supplies were relatively low. Energy supply, however, apparently reacted slowly to price signals due to factors like labor shortages, maintenance backlogs, longer lead times for new projects, and lackluster interest from investors...

This week’s TRENDS Explainer Video highlights how economic growth looks like in the Arab countries this year as per the latest IMF report.

The agreement was concluded with an IMF team led by S. Ali Abbas, during a virtual discussion on the third review of the economic reform programme.

Growing costs and a drop in purchasing power are seen as deterioration of the standard of living Kuwaitis have been accustomed to for years.

The world is at a turning point on climate change. IMF chief Kristalina Georgieva has urged world leaders at the COP26 summit in Glasgow to make strong policies and to cut global emissions to keep global warming to 1.5 to 2 degree Celsius.

A New York-based firm contracted by the Lebanese government is to resume its audit of the central bank Thursday in line with creditors' demands, the Lebanese presidency and a top official said.

The birthplace of the Arab Spring uprisings, Tunisia has faced years of economic woes exacerbated by the coronavirus pandemic, with 18 percent unemployment and debt verging on 100 percent of gross domestic product.

Global finance officials are worried about rising inflation pressures but there it is little fear that it will become a “runaway train,” IMF chief Kristalina Georgieva said on Sunday.

As demand has spiked, suppliers have not been able to keep up: Ships are lined up outside American ports waiting to offload goods, US consumer inflation remained elevated in September, global oil prices have jumped over $80 a barrel, the highest in years, and British families may do without turkeys...

Governments should avoid using general subsidies as a way to soften the blow from recent high energy prices, said Paulo Medas from the IMF's Fiscal Affairs Department. Broad subsidies are expensive, so policymakers instead should use targeted aid to help low-income families, he added.

The IMF noted that emerging variants of the novel coronavirus have made policy choices more difficult, with limited room to maneuver.

The IMF board said it "considered that the information presented in the course of its review did not conclusively demonstrate that the Managing Director played an improper role regarding the Doing Business 2018 Report when she was CEO of the World Bank."

An investigation by a law firm has concluded that Georgieva manipulated data in favor of China while in a senior role at the World Bank.

The country is already reeling under the impact of its worst-ever economic crisis, shutting down of power stations due to fuel shortages, Covid-19 pandemic and the explosion last year at Beirut's port. The Pandora papers further highlight the state of corruption among the political class.

A Swiss newspaper claimed Riad Salameh struck out 14 pages of a 2016 IMF report that warned of economic crisis in Lebanon.

The Muscat Stock Exchange closed on Wednesday, up 0.17%, or 6.9 points, from the previous trading session, which amounted to 3,947 points, after Cyclone Shaheen forced its closure.

The full report will be published next Tuesday and updates the estimates the IMF made in July, when it predicted inflation would return to pre-pandemic levels at some point next year. Prices worldwide have crept up throughout this year as economies bounce back from the sharp contraction the Covid-19 pandemic...

The team -- Deputy Prime Minister Saade Chami, Finance Minister Youssef Khalil, Economy Minister Amin Salam and central bank governor Riad Salameh -- would be backed by experts. Lebanon hopes the talks with the IMF will help unlock billions of dollars in financial aid.

Heavily in debt, with spiraling inflation and widespread unemployment worsened by the coronavirus pandemic, Tunisia is hoping for a bailout package from the IMF. But talks have been suspended since President Kais Saied on July 25 sacked the government.

The UAE and Qatar are hosting global events like EXPO 2020 this October and FIFA World Cup in 2022  respectively and initiating infra projects worth billions of dollars.

An independent investigation found that during her time as World Bank CEO, Georgieva was among top officials who pressured staff into changing data to China's benefit

If the Lebanese were expecting a measure of relief from the new Mikati government, they were badly disappointed. The government hiked the price of gasoline, cutting a subsidy that Prime Minister has said the country cannot afford.

The country no longer has the money needed to support its economy, says the new Prime Minister Najib Mikati said in a TV interview.

The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves.

The non-oil revenues of Saudi Arabia have increased to US$31 billion in Q2 2021 as against US$10.1 billion in Q2 2020.

The UN leaders released a joint statement in which they condemned what they called the ‘crisis of vaccine inequity,’ among countries.

The Egyptian president also said the country’s economy was better equipped to meet the aspirations of the Egyptian people.

Managing Director IMF Kristalina Georgieva said the largest allocation in history, about $650 billion in Special Drawing Rights, was a “significant shot in the arm for the world” to combat the economic distress caused by the Covid-19 pandemic. She said the IMF was encouraging rich countries that receive SDRs to...

The IMF is expected to complete a $650 billion allocation of Special Drawing Rights, the fund’s unit of exchange based on dollars, euros, yen, sterling and yuan, on Monday, to its 190 member countries in proportion to their shareholdings in the fund.

The country's economy is witnessing deterioration as sources of income decline, unemployment rises to 18 percent and rising debt necessitates a loan from the IMF.

Iraq is confident about securing a $4 billion dollar loan from the International Monetary Fund (IMF) after it restarted talks with the world’s top lending institution.

Advanced nations have vaccinated nearly 40 percent of the population, compared to barely 11 percent in emerging markets and a tiny fraction in low-income countries

Egypt’s economy is expected to grow 5.2 percent during the current fiscal, compared to a projected growth rate of 2.8% in the last financial year, the the International Monetary Fund has pointed out.

King Abdullah II of Jordan and the IMF official discuss global and regional developments and the efforts of the Kingdom to achieve job-rich inclusive growth.

Finance ministers from the G20 richest nations are expected to give the green light Saturday to a historic deal to tax multinational companies more fairly.

The IMF has completed the second review of Egypt’s economic reform program allowing the authorities to draw about $1.7 billion The IMF also commended Egypt’s strong performance under the Stand-by Arrangement Egypt’s economic growth is expected to rebound strongly to 5.2 percent in 2021-22, the International Monetary Fund (IMF) said...

He pleaded with the international community to help in the effort The IMF’s dialogue with the Mediterranean country has been on hold since its government resigned last August International Monetary Fund head for Mideast has called for a comprehensive reform program that requires what he considers to be a “different...

  $50 billion needed to enhance manufacturing capacity, supply, trade flows, and delivery Governments urged to act or risk continued waves, explosive outbreaks of COVID-19 The heads of the world’s predominant global financing, health and trade agencies have united to urge government leaders to urgently finance a new $50 billion...

Action on climate change forms a part of the IMF’s 2021 Comprehensive Surveillance Review A few Directors underline need to account for past emissions, energy needs of developing countries The International Monetary Fund has proposed the coverage of climate change in its assessment reports of the countries, more so, for...

Oil-producing countries will post positive growth, while economies dependent on tourism will struggle to stay afloat  IMF report says curbing the coronavirus and rolling out vaccination could uplift the economies The International Monetary Fund (IMF) has forecast a turnaround for some economies in the Middle East and North Africa (MENA)...

French Prime Minister Jean Castex calls reforms in Tunisia important for relations between two countries

Algeria continues to face important challenges posed by the fall in oil prices four years ago. Despite a sizeable fiscal consolidation in 2017, the fiscal and current account deficits remain large. Real Gross Domestic Product (GDP) growth slowed sharply, mainly driven by a contraction in hydrocarbon production, although growth in...

The Tunisian economy has showed signs of recovery in the first quarter of 2018, with the highest growth since 2014 supported by agriculture and exports. Besides due to the more flexible exchange rates, the current account deficit has also improved to some extent. However, at the same time, risks to...