Artificial intelligence will hit the labor market like a “tsunami,” according to International Monetary Fund managing director Kristalina Georgieva. Since the onset of AI, experts have debated its pros and cons for the workforce. Essentially, could a tool capable of supercharging productivity by automating scores of routine tasks put millions of people out of a […]
MUZAFFARABAD, Pakistan (AP) — Protests against price hikes continued for the fourth day in Pakistan-controlled Kashmir with demonstrators clashing with police, officials said Monday, while government talks began with the International Monetary Fund in pursuit of billions of dollars in new support. The violence that has gripped the region since Friday has left at least […]
(Bloomberg) — Nigeria’s reintroduction of a gasoline subsidy months after it was scrapped is expected to guzzle almost half of its projected oil revenue this year, according to the International Monetary Fund. Most Read from Bloomberg The implicit subsidy will cost Africa’s largest crude producer an estimated 8.43 trillion naira ($5.9 billion) of its projected […]
(Bloomberg) — Saudi Arabia will need a higher oil price than previously thought this year as the OPEC+ leader spearheads the group’s production cuts, according to the International Monetary Fund. Most Read from Bloomberg Riyadh will require an average oil price of $96.20 a barrel to balance its budget, assuming it holds crude output steady […]
International Monetary Fund managing director Kristalina Georgieva envoked Winston Churchill as she warned of impending economic shocks – MANDEL NGAN/AFP via Getty Images The head of the International Monetary Fund has urged countries to cut debt and slash red tape to revive growth as she warned the world was becoming more vulnerable to economic shocks. […]
[Getty Images] An influential global body has forecast Russia’s economy will grow faster than all of the world’s advanced economies, including the US, this year. The International Monetary Fund (IMF) expects Russia to grow 3.2% this year, significantly more than the UK, France and Germany. Oil exports have “held steady” and government spending has “remained […]
(Bloomberg) — UK Prime Minister Rishi Sunak will go into an election having beaten the inflation crisis but having annual economic growth this year weaker than in any other Group of Seven nation other than Germany, according to the International Monetary Fund. Most Read from Bloomberg The IMF downgraded its forecast for UK gross domestic […]
By Andrea Shalal WASHINGTON (Reuters) – A $1.2 trillion government funding bill passed by Congress will allow the U.S. to lend up to $21 billion to an International Monetary Fund (IMF) trust to help the world’s poorest countries, U.S. Treasury Secretary Janet Yellen said on Saturday. Yellen said the funding would make the United States […]
Pakistan plans to seek a long-term loan from the International Monetary Fund (IMF) to help stabilise the country’s ailing economy after the end of the IMF’s current three billion dollar bailout package, the finance minister said. Muhammad Aurangzeb, who plans to meet with IMF officials in Washington in April, did not specify the amount that […]
Pakistan and the International Monetary Fund (IMF) have reached a preliminary agreement for the release of $1.1 billion (€1.01 billion) from a $3 billion bailout following talks in Islamabad, the IMF said. Under the deal, Pakistan will receive the final tranche from the bailout that was approved by the IMF last July to save the […]
Egypt said it has reached a deal with the International Monetary Fund (IMF) to increase a bailout loan to $8 billion. Egyptian prime minister Moustafa Madbouly announced the news in televised comments on Wednesday. Egypt has for months negotiated with the IMF to increase a £3 billion bailout loan that both parties reached in 2022. […]
A delegation of the International Monetary Fund (IMF) arrived in Kyiv for talks with Ukrainian authorities and other stakeholders on strengthening Ukraine’s financial capabilities, Vahram Stepanyan, the fund’s resident representative to Ukraine, said on Feb. 12. An IMF team led by Uma Ramakrishnan, the deputy director of the Fund’s European Department, will start the talks […]