International Monetary Fund

U.S.-Funded IMF Agrees to Give Pakistan $3 Billion Bailout

The International Monetary Fund (IMF), an international organization heavily funded by the United States, on Friday reached an agreement with Pakistan to provide $3 billion in short-term financial aid. The Pakistani bond market perked up at news that a potential debt default crisis has been delayed, but not enough to suggest that investors see a bright future for Pakistan’s finances.

Men collect free bread from a distribution point in Peshawar on April 3, 2023. - Poor Pakistanis are feeling the brunt of the economic turmoil, and at least 20 people have been killed since the start of the Muslim fasting month of Ramadan in crowd crushes at food distribution centres. …

Belt and Road Victim Zambia Sees Finances Implode After Early Pension Payout

The Zambian government passed a law on April 17 that allows citizens to cash out up to 20% of their pensions early. The resulting hit to government finances as claimants raced to pull some $300 million out of the National Pension Scheme Authority (NAPSA) is threatening to topple Zambia’s finances, and endangering a debt relief deal it has been working on since 2020.

Chinese President Xi Jinping (Left) meets Zambia's President Edgar Chagwa Lungu (Right) at the Great Hall of the People on March 30, 2015 in Beijing, China. (Photo by Feng Li/Getty Images)

Hundreds, Angered by Inflation, Storm Parliament in South America’s Suriname

Hundreds of demonstrators clashed with police on Friday in Paramaribo, the capital of Suriname. Several dozen of the protesters were able to force their way into the National Assembly building, but were driven back with tear gas, while others burned and looted shops across the city. The United Nations expressed concerns on Monday that more violence could be in store, possibly building into an effort to overthrow President Chandrikapersad Santokhi.

Protests in Paramaribo, Suriname on February 17 2023. (Photo by RANU ABHELAKH/AFP via Getty Images)

Lebanese President Michel Aoun Vacates Office Without Replacement

89-year-old Michel Aoun, president of Lebanon since 2016, vacated his office on Sunday with no successor standing by. Aoun’s departure leaves a country in even more turmoil, as one of his final acts was accepting the resignation of interim Prime Minister Najib Mikati’s government.

NEW YORK, NY - SEPTEMBER 25: President of Lebanon Michel Aoun addresses 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 from climate …

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.

Kristalina Georgieva

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 …