According to press reports, IMF Deputy Division Chief in charge of the Western Hemisphere, Anna Ivanova, said strengthening trade and reducing crime could spur economic growth in the region. “The region could really boost growth in terms of increasing trade. Both within the partners in Latin America and the Caribbean and with the countries outside of the region. So that […]
The International Monetary Fund says the economic prospects for Latin America and the Caribbean have marginally improved for this year. In its latest economic outlook update, the agency said the region’s growth will be 0.3 percent higher then forecast in April. Gross Domestic Product for 2023 is now set at 1.9 percent, while the forecast for 2024 remains at 2.2 […]
Less developed countries will be able to pause their debt repayments if hit by a climate disaster, under plans announced by the World Bank at the climate financing summit in Paris. Today’s announcement is a win for a campaign led by Barbados Prime Minister Mia Mottley. In an address at the UN last year, she had urged world leaders to […]
The International Monetary Fund is set to make US$38 million available to Barbados following their successful completion of the first reviews of the Extended Fund Facility and the Resilience and Sustainability Facility arrangements. The IMF commended Barbados for its efforts in economic reform and climate policy agenda aimed at strengthening fiscal sustainability, advancing structural reforms, unlocking the economy’s growth potential, […]
WASHINGTON — The International Monetary Fund has approved a $15.6 billion support package for Ukraine to assist with the conflict-hit country’s economic recovery, the fund said in a statement Friday. Russia’s invasion has devastated Ukraine’s economy, causing activity to contract by about 30% last year, destroying much of its capital stock and spreading poverty, according to the IMF. The outbreak of […]
According to press reports, a staff mission from the International Monetary Fund (IMF) recently called on the Ministry of Finance and the Central Bank in Trinidad & Tobago to remove all foreign exchange restrictions. The report noted that the IMF argues that the move will create a more investment-friendly business environment that will drive the diversification of the T&T economy. […]
The Executive Board of the International Monetary Fund (IMF), on Thursday (March 2), approved funding of approximately US$1.7 billion for Jamaica under its Precautionary and Liquidity Line (PLL) and Resilience and Sustainability Facility (RSF). Under a 24-month arrangement, the country will receive US$968 million from the PLL, as insurance against risks from higher commodity prices, a global slowdown, tighter-than-envisaged global […]
The currency depreciated by more than 13 percent as the central bank introduces flexible exchange rate. Egypt’s pound weakened by more than 13 percent to a new low below 32 to the US dollar on Wednesday, losing its value by half since March as the central bank moved to a more flexible exchange rate under the terms of an International […]
WASHINGTON — World economic growth is slowing, and the prospects for a quick recovery are gloomy, the International Monetary Fund said Tuesday. The IMF said it expects growth to slow from last year’s 6.1% advance across the globe to 3.2% this year, four-tenths of a percentage point lower than it forecast in April. “A tentative recovery in 2021 has been […]
International Monetary Fund (IMF) Caribbean Member Countries are being encouraged to lead take-up of the institution’s multibillion-dollar Resilience and Sustainability Trust (RST). The RST is aimed at helping countries build resilience against external shocks and ensure sustainable growth, contributing to their long-term balance of payments stability. Managing Director, Kristalina Georgieva, said that Caribbean countries are ideally positioned to tap into […]
