Tag: IMF
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Zambia Expresses Optimism It Can Allay Chinese Concerns Over Debt Deal
The Zambian Finance Minister Situmbeko Musokotwane said he's hopeful his country's three-year debt restructuring odyssey can finally be resolved sometime before June. Musokotwane was cautious about providing any specific timetable but said on Wednesday that he's nonetheless optimistic he can resolve Chinese concerns ...
IMF “Optimistic” About Ghana Debt Deal Amid Predictions that Chinese Lending Could Bounce Back
The International Monetary Fund said it is hopeful that Ghana will reach a debt agreement with bilateral creditors soon, which would unlock another $600 million IMF payment to the country. The IMF’s Resident Representative for Ghana, Leandro Medina told Reuters: "We are ...
Who Will Come to the Rescue? The Inadequacies of the Global Financial Safety Net and Its Impact on Developing Countries
By Marina Zucker-Marques and William N. Kring In an era marked by ‘higher-for-longer’ interest rates and restricted access to international financial markets, access to emergency liquidity financing is essential for emerging markets and developing economies (EMDEs) to weather economic ...
IMF Warns China’s Slowdown Could Hit Africa, Debunks Debt Trap Myth
The International Monetary Fund released a set of reports on Africa’s economic outlook and China’s shifting role on the continent. Overall, African economies are slowly rebounding after the double shocks of the pandemic and the Ukraine crisis. However, the IMF warns this recovery is endangered by constrained lending ...
Poor Countries Seek Bilateral Debt-Relief Efforts After Rebuf From IMF and World Bank
The International Monetary Fund's director dismissed calls debt cancellation from Ghana, Nigeria and other countries on the continent, saying it would adversely impact domestic creditors. (INVESTING) ETHIOPIA: After receiving debt relief from China, Ethiopia is reviving ...
Backgrounder: IMF Quota Discussions in Marrakesh Point to Tectonic Change
This week’s IMF and World Bank meetings in Morocco will discuss fundamental changes to the global financial architecture, including who gets to make decisions in the World Bank and the International Monetary Fund. IMF officials ...
As Debt Resolution Deadlock Looms, Which Scenarios Face Us?
China’s rapid rise as a global lender has also made it a significant disrupter of the business-as-usual of debt restructuring. While Western stakeholders have framed China’s role as a ‘barrier,’ Beijing insists that it is being treated unfairly in comparison to Western-led ...
Breaking the Taboo: How Multilateral Development Banks Can Participate in Debt Relief
By Marina Zucker-Marques and Kevin P.Gallagher For three long years now, the Group of 20 (G20) Common Framework has been unable to put debt-distressed countries on a path toward debt sustainability and development. The Common ...
Glimmers of Debt Deal for Sri Lanka Raises China Pressure
Sri Lanka’s major creditors, including India, Japan, and France, are nearing a debt deal by mid-October, according to the Japanese newspaper Sankei Shinbun. However, there are serious questions as to whether China (one of Sri Lanka’s largest bilateral creditors) will be part of the deal. ...
Climate Chart of the Day: China and the U.S. Spend the Most on Fuel Subsidies
Fossil fuel subsidies in 2022 amounted to $7 trillion globally, about 7.1% of global gross domestic product. It shot up by 18.3% year on year, partly in response to the Ukraine war, according to research by the IMF. The subsidies worsen ...
Is China Setting the Agenda for Global South Debt Restructuring?
In June, Zambia reached what's been described as a landmark debt restructuring deal that for the first time brought together the country's bilateral creditors including China, traditional Paris Club lenders and bondholders. While the deal ...
Backgrounder: How Does Niger’s Coup Affect China?
China says it is closely monitoring the situation in Niger following last week’s announcement that a military junta arrested the democratically elected President Mohamed Bazoum and established a military government. The coup potentially drives a wedge between Niger and Western powers, who ...