Tag: IMF
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China Will Keep Driving Global Growth: Xi
Chinese President Xi Jinping said China will keep powering global economic expansion and that the country will meet its 5% GDP growth target. The comments come a day after the CPC politburo announced the first monetary easing in fourteen years to boost ...
IMF Chief Seeks More Details on BRICS Payments System Plans
The IMF wants to know more about a cross-border payments system discussed by the BRICS group of countries this week and aimed at boosting non-dollar transactions, the Fund's managing director said Thursday. The meeting of the BRICS -- meaning Brazil, Russia, ...
Three Big Global Questions on the IMF and World Bank’s Agenda
By Tim Hirschel-Burns The World Bank and the International Monetary Fund (IMF) are not the only places where global economic decision-making takes place, but arguably, no other institutions combine such global scope and implementation power. The United Nations (UN) serves as ...
Development Finance at a Crossroads: BRICS Challenge to Western-led Economic Order
We're going to see two starkly contrasting visions of the current international economic order this week when leaders from nearly two dozen developing countries gather in Russia for a BRICS summit while the development finance elite meet in Washington for the IMF-World Bank's annual meeting.
Sri Lanka Approves Controversial Foreign Debt Deal
Sri Lanka's new government has approved a controversial restructure of $14.7 billion in foreign commercial credit tentatively agreed by its predecessor, the finance ministry said Saturday. Former leader Ranil Wickremesinghe announced a deal with international sovereign bondholders and the China Development ...
“No Clear Evidence” that Vietnam Facilitates Chinese Exports to the U.S.: IMF
An investigation by the International Monetary Fund has found no clear evidence that Vietnam is used as a waystation to facilitate Chinese imports to the United States. The study examined backward trade linkages with China in Vietnamese exports to the United ...
China Pledges More BRI Cooperation as Sri Lanka Swears in New Leader
Anura Kumara Dissanayake was sworn in as Sri Lanka’s new president on Monday, after winning a rare second-round election over the weekend. The Marxist-leaning leader of the Janatha Vimukthi Peramuna (People’s Liberation Front) party won on a ticket of economic reconstruction ...
Without More Transparency, FOCAC Could Become Irrelevant
The Forum on China-Africa Cooperation (FOCAC) summit gets underway in Beijing soon, but you'd hardly know that this was once a really big deal. The vibe this year is noticeably different than in the run-up to past FOCACs, when African think tanks released working papers, scholars in ...
Attention Shifts to Chinese Debt Following Ethiopia’s IMF, World Bank Deals
This week, the Ethiopian government struck a pair of deals with the International Monetary Fund (IMF) and the World Bank that will pave the way to restructure the country's $29 billion external debt, a quarter of which is owed to Chinese creditors.
Falling Through the Net? The Perils of Relying on Central Bank Swaps for Global Crisis Finance
By Laurissa Mühlich, Thomas Goda, and Marina Zucker-Marques Since the 2008 global financial crisis, central bank swaps have emerged as an increasingly important pillar of the Global Financial Safety Net (GFSN), the network of institutions and arrangements that aim at ...
Cash-Strapped Sri Lanka Set to Sign Key Debt Deals With China and Other Lenders
Sri Lanka has finalized long-delayed debt deals with its bilateral lenders, including China, to meet a key condition of an IMF bailout, the government said Tuesday. A treasury delegation is on its way to France to sign agreements with creditors on ...
IMF Releases Sri Lanka Loan Despite Restructure Delays
The International Monetary Fund released $336 million as part of a bailout loan installment for Sri Lanka despite delays in the crucial restructuring of its foreign debt, including to China, the Washington-based lender said Wednesday. The South Asian nation was starting ...