The International Monetary Fund (IMF) approved Argentina's fourth review under its $44 billion loan program on Friday, unlocking the disbursement of $5.4 billion to the indebted country, the lender said in a short statement. The IMF made no mention of Argentina's request for easing reserve targets
European banking stocks were meant to shine in 2023. But after a two-week storm which had analysts and investors rushing to rework their spreadsheets, the outlook is clouded. Before the fall of Silicon Valley Bank (SVB) on Mar 10, stronger than expected euro zone economic data and 50 per cent four
Sri Lanka's key inflation rate eased to 50.3 per cent in March from 50.6 per cent in February, the statistics department said on Friday. The Colombo Consumer Price Index (CCPI) reflected a reduction in food inflation to 47.6 per cent in March from 54.4 per cent in February, but non-food inflation
Pakistan's central bank looks set to raise its key interest rate by 200 basis points to a record high of 22 per cent at its review on April 4, as it struggles to bring down stubborn inflation, the median estimate in a poll showed. Eighteen out of 20 economists and market watchers surveyed said the
Lebanon has no alternative for economic recovery but to make progress on a deal with the International Monetary Fund, a senior US official said on Thursday. US Assistant Secretary of State for Near Eastern Affairs Barbara Leaf visited Lebanon, which is suffering one of the world's worst financial
Twelve large Indian states, which have released their local budgets over the past few weeks and forecast aggressive spending growth in 2023-24, are likely to fall short of their targets posing a risk to economic growth, experts said. The states - including Maharashtra, home to the country'
Britain's economy grew in the fourth quarter of last year, official data showed on Friday, with a jump of business at travel agents and state support for soaring energy bills helping the country avoid falling into recession. Economic output increased by 0.1 per cent from the previous three month
China's manufacturing activity expanded at a slower pace in March, official data showed on Friday, raising doubts about the strength of a post-COVID factory recovery amid weaker global demand and a property market downturn. The services sector was stronger, with activity expanding at the fastest p
Britain on Friday said it had struck a deal to join an 11-country trans-Pacific trade pact which includes Japan and Australia as it looks to deepen ties in the region and build its global trade links after leaving the European Union. Prime Minister Rishi Sunak said Britain had agreed to join the C
The Central Bank of Egypt (CBE) raised its overnight interest rates by 200 basis points (bps) on Thursday following a meeting of its Monetary Policy Committee (MPC), saying it aimed to bring high inflation into check. The bank set the lending rate at 19.25per cent and the deposit rate at 18.25 per
Countries in a relatively stronger position should help vulnerable nations especially those under debt distress, International Monetary Fund managing director Kristalina Georgieva said on Thursday. The IMF chief said such assistance would be particularly important against the backdrop of high inte
Russia's largest oil producer Rosneft and India's top refiner Indian Oil Corp have signed a term agreement to substantially increase oil supplies and diversify oil grades delivered to India, Rosneft said on Wednesday. The deal was signed during a working trip to India by R
The International Monetary Fund (IMF) wants external financing commitments fulfilled from friendly countries before it releases bailout funds, Pakistan's Prime Minister Shehbaz Sharif said on Tuesday. The lender has been negotiating with Islamabad since early February to resume $1.1 billion in fun
