International Monetary Fund

IMF Demands El Salvador Give Up on Bitcoin

The International Monetary Fund (IMF) on Tuesday “urged” El Salvador’s government to rescind the legal tender status it bestowed to Bitcoin, a type of cryptocurrency, in September 2021, indicating that its failure to do so could hinder El Salvador’s intention of securing a future loan from the financial institution.

Largest Nordic bank Nordea bans employees' bitcoin trade

Yellen: No Need to Replace IMF Director over China Data-Rigging Scandal

Treasury Secretary Janet Yellen conceded on Monday that “legitimate issues and concerns” have been raised by a report that found World Bank data was rigged to make China looked better, but added she saw no reason to replace International Monetary Fund (IMF) Managing Director Kristalina Georgieva for her alleged role in the scandal.

The IMF says it will reach a decision on the fate of Managing Director Kristalina Georgieva 'very soon'

Analysts Say Zambia Concealed Half of its $6.6 Billion Debt to China

Analysts from the China Africa Research Initiative (CARI), a Johns Hopkins University project to study China’s political and economic influence among African nations, said on Tuesday the African nation of Zambia owes $6.6 billion to China – more than double the amount claimed by former President Edgar Lungu. 

Zambia's President Edgar Lungu (L) shakes hands with China's President Xi Jinping before their bilateral meeting at the Great Hall of the People on September 1, 2018. - Lungu is in China for the Forum on China-Africa Cooperation which will be held in Beijing on September 3 and 4. (Photo …

UAE Lends Pakistan Billions, Competing with China

Sheikh Abdullah bin Zayed al-Nahyan, foreign minister of the United Arab Emirates (UAE), told his Pakistani counterpart Shah Mahmood Qureshi on Tuesday the UAE will roll over a $2 billion loan and “extend every possible support” in an effort to improve relations between the two countries.

In this photo released by Russian Foreign Ministry Press Service, UAE's Foreign Affairs Minister Sheikh Abdullah bin Zayed bin Sultan Al Nahyan gestures during a joint news conference with Russian Foreign Minister Sergey Lavrov in Abu Dhabi, United Arab Emirates, Tuesday, March 9, 2021. (Russian Foreign Ministry Press Service via …

Lebanese Politicians Fail to Agree on Forming Government

Lebanon’s effort to form a new government is not going well. Virtually every administration official except President Michel Aoun resigned soon after the August 4 explosion that devastated the city of Beirut. The search for a new prime minister appears to be deadlocked by Lebanon’s factional rivalries and resistance to reform, even as the country’s already shaky economy teeters on the edge of utter ruin.

NEW YORK, NY - SEPTEMBER 25: President of Lebanon Michel Aoun arrives to address the United Nations General Assembly at UN headquarters on September 25, 2019 in New York City. World leaders from across the globe are gathered at the 74th session of the UN General Assembly, amid crises ranging …

Arab Gulf Economies Take Massive Hit with Oil Price Crash

BAGHDAD — Iraq is planning painful cuts in social benefits relied on by millions of government workers. Saudi Arabia will likely have to delay mega-projects. Egypt and Lebanon face a blow as their workers in the Gulf send back less of the much-needed dollars that help keep their fragile economies afloat.

AP Photo/Hasan Jamali

IMF Suspends Work with Venezuela over Distrust of Maduro Economic Data

The International Monetary Fund (IMF), of which the U.S. is the dominant stakeholder, confirmed on Thursday it had suspended its work with the anti-American socialist regime of Nicolás Maduro since the end of January due to the South American nation’s financial woes and deteriorating political and humanitarian conditions.

The move comes as President Nicolás Maduro (pictured) has clamped down on political opposition and consolidated power in his government’s hands. | Federico Parra/AFP/Getty Images.