Global growth almost halved last year to 3.4 percent as the impact of Russia's offensive on Ukraine rippled through the world economy, abruptly halting the recovery from the Covid-19 pandemic.
Despite striking a deal with the International Monetary Fund in April 2021, the ailing Arab country is yet to implement any of the reforms stipulated for securing the $3 billion loan it needs to rebuild its battered economy.
Sri Lanka is facing its worst economic crisis in decades and a shortage of dollars has disrupted imports of essentials, though the situation has improved from last year when protesters ousted its president.
Sri Lanka expects approval from the International Monetary Fund to start the disbursal of $2.9 billion in the third or fourth week of this month, President Ranil Wickremesinghe says.
International Monetary Fund asks for more time for negotiations with Islamabad over deal that would unlock $1.1 billion in much-needed funds for the country, officials say.
Heavily indebted Tunisia has secured a $1.9 billion loan while Egypt is close to finalising a deal.
Internation Monetary Fund has also trimmed its 2023 global GDP forecast to 2.7 percent, 0.2 points down from July expectations.
The disaster-hit country suffered at least $18 billion in losses after the floods, but Finance Minister Miftah Ismail is confident that market worries will subside in 2-3 weeks.
The International Monetary Fund approves the release of a long-stalled $1.17 billion tranche of its bailout package for Pakistan as the death toll from monsoon flooding reaches at least 1,136 people.
King Salman bin Abdulaziz issues investment orders to help Pakistan's economy, says Riyadh, just a day after Qatar promised to invest $3 billion in the South Asian country.
Deal with International Monetary Fund pushed back to September due to protests that ousted Gotabaya Rajapaksa, says new President Ranil Wickremesinghe.
The lender said the South Asian nation needed to adopt structural reforms that focus on economic stabilisation and tackle the root causes of its crisis.
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