The $2.9 billion loan secured early last year required Colombo to sharply raise taxes, remove generous energy subsidies and agree to restructure more than 50 loss-making state enterprises.
The swift agreement, which comes just over two months after the last one, will provide Ukraine with a large injection of funds amid Russia's ongoing assault on the country, which entered its 1000th day on Tuesday.
China's leaders are targeting annual growth of five percent this year -- a goal challenged by weak consumption and a prolonged and debilitating debt crisis in the colossal property sector
After the World Bank, the International Monetary Fund has now brought down Bangladesh’s growth forecast for this year as political uncertainty, industrial unrest and floods weigh heavily on economic activities.
The International Monetary Fund and World Bank annual meetings are scheduled to draw more than 10,000 people from finance ministries, central banks and civil society groups to discuss efforts to boost patchy global growth, deal with debt distress and finance the green energy transition
The loan disbursal is the latest tranche of funding the International Monetary Fund has released to Ukraine as part of an ongoing 4-year, $15.5 billion program approved last March.
The government is expecting at least $5.65 billion in budget support this fiscal year from the World Bank, the International Monetary Fund (IMF), and the Asian Development Bank (ADB) to expedite reforms.
The meetings will take place in between October 21 and October 26
Released a week before the IMF and World Bank hold annual meetings in Washington, the Fiscal Monitor said there are good reasons to believe future debt levels could be well higher than currently projected, including a desire to spend more in the US, the world's largest economy.
The suite of changes agreed to by the International Monetary Fund's executive board include adjustments to the surcharges paid by countries with high levels of debt, like Ukraine and Argentina, the Washington-based institution announced in a statement
"Tariffs are very blunt instruments," Georgieva, managing director of the International Monetary Fund, told CNBC in an interview.
IMF on Wednesday agreed to loan Pakistan $7 billion to bolster its faltering economy, approving a relief package that Islamabad has pledged would be the last from the Washington-based lender
IMF is ready to discuss its controversial $2.9 billion bailout programme for Sri Lanka with the country's new government, a spokesman said
Central banks face a "difficult balancing act" as they start lowering interest rates around the world in the face of falling inflation, the head of the IMF said Friday
The Maldives says its financial troubles are "temporary" and the luxury tourist destination has no plans to seek an International Monetary Fund bailout after warnings of a possible sovereign default
It is unfortunate that the previous government fell short of its commitments to strengthen the banking sector.
The country has been hammered by drought, floods and locust infestations in recent years
The high incidence of corruption, some of which have erupted openly in the public domain.
The International Monetary Fund (IMF) has suggested greater exchange rate flexibility to preserve reserve adequacy, warning failure to do so may create further imbalances in the currency market.
