International Monetary Fund

IMF Managing Director Kristalina Georgieva expressed confidence in Argentina's economic reforms under President Javier Milei during a visit to Buenos Aires, praising falling inflation, fiscal discipline, and improved sovereign risk. However, a $32.3 billion foreign-currency debt repayment in 2027 looms, coinciding with Milei's expected reelection bid. The IMF has backed Milei's austerity program, but analysts warn that voter support may wane if economic gains are not felt at home. Moody's, S&P, and Fitch have upgraded Argentina's rating, yet the IMF's latest staff report noted 'exceptional risks' to debt sustainability. Georgieva's visit included a meeting with Milei and a tour of the Vaca Muerta shale formation, key to boosting energy exports.

1 reports · 1 sources · Updated Jul 27, 05:58 PM UTC

The Tamil Nadu government has constituted a Revenue Augmentation Committee chaired by economist Montek Singh Ahluwalia, former Deputy Chairman of the Planning Commission. The committee is tasked with recommending measures to sustainably increase the state's tax and non-tax revenues by improving compliance, plugging leakages, rationalizing tax rates and exemptions, and identifying new or underutilized revenue sources. Other members include K.P. Krishnan, Arbind Modi, Najib Shah, M.A. Siddique, and M. Suresh Babu. The committee will function for three months and is empowered to access records from any government department. It will also examine non-tax avenues such as dividends from public sector undertakings, land and asset monetization, and enhanced revenue from alcohol regulation. The initiative aims to strengthen fiscal self-reliance and create fiscal space for developmental commitments.

1 reports · 1 sources · Updated Jul 27, 04:29 PM UTC

IMF Managing Director Kristalina Georgieva arrived in Argentina on July 27, 2026, for her first visit as IMF chief, amid growing investor confidence in President Javier Milei's economic reforms. Argentina's exports are rising, reserves accumulating, and inflation has dropped from 25.5% in December 2023 to 1.9% in June. However, a $32.3 billion foreign-currency debt repayment in 2027 looms, coinciding with Milei's expected reelection bid. The government plans to meet obligations via multilateral financing, privatizations, and local debt issuance. The visit includes meetings with Milei and Economy Minister Caputo, and a trip to the Vaca Muerta shale formation. Analysts warn that while macroeconomic indicators improve, voter sentiment and political risks remain key challenges. The IMF's third review of Argentina's $20 billion program is upcoming.

1 reports · 1 sources · Updated Jul 27, 11:01 AM UTC

With just over 1,400 days until the 2030 World Cup, Morocco, co-hosting with Spain and Portugal, confronts significant financial and infrastructural challenges reminiscent of South Africa's 2010 experience. The country has budgeted 50-60 billion Moroccan dirhams (£4bn-£4.8bn) for direct football investments and an additional £17bn for infrastructure upgrades, equivalent to 11.9% of its 2024 GDP. The Morocco 2030 Foundation has studied US World Cup organization, while monthly coordination meetings with Spain and Portugal continue. Protests have emerged in Casablanca against overspending, with demonstrators calling for healthcare and education reforms instead. Morocco's hosting journey follows decades of failed bids since King Hassan II's attempt for 1994. The country is also hosting the Women's Africa Cup of Nations and the Under-17 Women's World Cup in the lead-up to 2030.

1 reports · 1 sources · Updated Jul 22, 06:00 PM UTC

John Healey's surprise appointment as UK Chancellor has drawn comparisons to Denis Healey's 1976 IMF bailout era, though the new Chancellor inherits a slightly better economic situation. A Bloomberg poll showed Healey was the second most popular choice among City executives, behind West Streeting. Healey previously served as Economic Secretary and Financial Secretary to the Treasury under Tony Blair, where he championed light-touch regulation for the City in 2006, defending the 'innovation, flair and light-touch regulation' that made London a leading financial centre. However, Healey faces three major constraints: his own recent resignation over defence funding, Prime Minister Andy Burnham's tendency to announce policies before finding funding, and limited public and market appetite for further tax increases. Gilt yields have already begun rising as markets assess the challenges facing the new Chancellor, though the situation is not as dire as 1976.

1 reports · 1 sources · Updated Jul 22, 04:00 AM UTC

The International Monetary Fund (IMF) has warned that India's economic growth for the 2026/2027 fiscal year could be lower than expected due to two key downside risks: the re-escalation of the Middle East war driving up oil prices, and the El Nino weather phenomenon threatening monsoon rains. IMF resident representative Ranil Salgado told Reuters that the expanding conflict has implications for oil prices, while El Nino could lead to a poor monsoon. The IMF had already cut its GDP growth forecast for India by 10 basis points to 6.4% in early July, citing higher energy prices. The collapse of a U.S.-Iran ceasefire led to renewed closure of the Strait of Hormuz, spiking Brent crude by 16% to nearly $90 per barrel. India, which imports over 85% of its oil, is scrambling to diversify supply sources, including record volumes from Russia and new deals with Venezuela and Brazil, to offset lost Middle Eastern crude.

1 reports · 1 sources · Updated Jul 21, 02:30 PM UTC

The International Monetary Fund's Executive Board has approved immediate access to approximately $690 million for Ukraine to help bridge its budget gap. The IMF acknowledged that Ukraine has maintained macroeconomic and financial stability despite the ongoing war, but noted a deterioration in the economic outlook due to intensified attacks on critical infrastructure and the war in the Middle East. Reform implementation has slowed, with several structural benchmarks delayed or unmet, though the IMF deemed conditions for the tranche release 'generally satisfactory.' The meeting followed an agreement with Kyiv on revising the reform schedule and establishing corrective measures. The prolonged war is straining Ukraine's economy, increasing the budget deficit, which is largely financed by foreign partners. IMF Managing Director Kristalina Georgieva stressed maintaining macroeconomic stability and urged prudent fiscal and monetary policies to ensure financial sector resilience.

1 reports · 1 sources · Updated Jul 21, 10:48 AM UTC

The International Monetary Fund's Executive Board has approved immediate access to approximately $690 million for Ukraine to help bridge its budget gap. The IMF acknowledged that Ukraine has maintained macroeconomic and financial stability despite the ongoing war, but noted a deterioration in the economic outlook due to intensified attacks on critical infrastructure and the war in the Middle East. Reform implementation has slowed, with several structural benchmarks delayed or unmet, though the IMF deemed conditions for the tranche release 'generally satisfactory.' The meeting followed an agreement with Kyiv on revising the reform schedule and establishing corrective measures. The prolonged war is straining Ukraine's economy, increasing the budget deficit, which is largely financed by foreign partners. IMF Managing Director Kristalina Georgieva emphasized maintaining macroeconomic stability and urged prudent fiscal and monetary policies to ensure financial sector resilience.

1 reports · 1 sources · Updated Jul 21, 10:48 AM UTC

The International Monetary Fund's Executive Board has approved immediate access to approximately $690 million for Ukraine to help bridge its budget deficit. The IMF acknowledged that Ukraine has maintained macroeconomic and financial stability despite the ongoing war, but noted a deterioration in the economic outlook due to intensified attacks on critical infrastructure and the repercussions of the war in the Middle East. While the pace of reform implementation has slowed and some structural benchmarks were delayed or unmet, the IMF deemed the fulfillment of conditions for the aid tranche 'generally satisfactory.' The approval follows an agreement with Ukrainian authorities on revising the reform schedule and establishing corrective measures. IMF Managing Director Kristalina Georgieva emphasized the need for prudent fiscal and monetary policies and measures to ensure financial sector resilience as the prolonged war strains Ukraine's economy and increases its budget deficit, which is largely financed by foreign partners including the IMF.

1 reports · 1 sources · Updated Jul 21, 10:48 AM UTC

The International Monetary Fund (IMF) has identified rising oil prices due to the expanding Middle East conflict and a weak monsoon caused by El Nino as the two biggest downside risks to India's GDP growth for fiscal year 2026/27. India, which imports nearly 80% of its oil, is highly vulnerable to energy shocks that could stoke inflation and slow growth. The IMF recently cut its FY27 growth forecast for India by 10 basis points to 6.4%, while raising the FY28 forecast to 6.7%. IMF senior resident representative Ranil Salgado noted that the war's expansion threatens oil supplies via the Strait of Hormuz, and that the weak monsoon could further impact the economy. Additionally, the IMF plans to reassess the quality of India's national accounts later this year, following previous methodological concerns that led to a low 'C' rating.

1 reports · 1 sources · Updated Jul 21, 06:57 AM UTC

Ukrainian President Volodymyr Zelensky has initiated a major government reshuffle, replacing Prime Minister Yulia Svyrydenko and likely the defense minister, less than a year after appointing them. Svyrydenko is expected to become ambassador to the United States, while energy sector expert Sergii Koretskyi, head of Naftogaz, is the leading candidate for prime minister. The changes come as Ukraine prepares for a critical autumn phase of the war, with Russian forces expected to target the energy grid. Zelensky stated the reshuffle aims to place true experts in key positions, particularly in foreign policy and security. The move also signals preparations for upcoming elections and addresses strained relations with Poland and Hungary, as well as domestic issues like minority education and frontline energy security.

1 reports · 1 sources · Updated Jul 21, 06:52 AM UTC

Lord Johnson, former investment minister, argues against Andy Burnham's proposal to renationalise Thames Water and increase public control of utilities. He warns that confiscating private assets would deter the foreign investment Britain needs for economic growth, citing IMF forecasts of just 1% growth in 2026. Johnson contrasts Burnham's plan with the success of 'Manchesterism', which he says was built on private capital and stable investment frameworks. He notes that since privatisation in 1989, water companies have invested over £236bn, with annual investment more than doubling from the nationalised era. Johnson criticises the idea that the state can run services effectively, pointing to failures in public infrastructure projects. He also warns that confiscation would harm international investors and UK pension funds heavily invested in the sector. He urges the new government to court, not chill, international investment to deliver regional prosperity.

1 reports · 1 sources · Updated Jul 21, 04:26 AM UTC

The International Monetary Fund (IMF) Executive Board has completed the first review of Ukraine's Extended Fund Facility (EFF) arrangement and concluded the 2026 Article IV Consultation. This milestone allows for the disbursement of additional funds to support Ukraine's economic stability amid ongoing challenges. The review assessed Ukraine's progress under the EFF program, which aims to restore macroeconomic stability, strengthen governance, and promote sustainable growth. The Article IV Consultation provided a comprehensive assessment of Ukraine's economic health and policy framework. The IMF's approval signals continued international financial support for Ukraine, which has been grappling with the economic impacts of war and reconstruction needs. The decision underscores the IMF's commitment to assisting Ukraine in maintaining fiscal discipline, implementing structural reforms, and addressing vulnerabilities in the financial sector.

1 reports · 1 sources · Updated Jul 21, 02:14 AM UTC

The global oil market faces heightened vulnerability as renewed conflict in the Middle East effectively closes the Strait of Hormuz, a critical chokepoint for oil shipments. After weeks of complacency over a U.S.-Iran memorandum of understanding, the re-escalation has halted tanker traffic and driven oil prices to $90 per barrel. Key buffers that cushioned earlier price spikes—including strategic petroleum reserves, commercial inventories, and demand reduction in Asia—are now largely exhausted. The U.S. Strategic Petroleum Reserve has fallen to its lowest level since 1983, and global stockpiles have been drawn down significantly. The International Monetary Fund warns that the world is starting from a weaker position, with spare capacity deployed and inventories depleted. Analysts from ING note that SPR releases are set to cease by the end of the month, leaving the market more exposed to further price rallies during peak demand season.

1 reports · 1 sources · Updated Jul 20, 09:00 PM UTC

The global oil market faces heightened vulnerability as renewed conflict in the Middle East closes the Strait of Hormuz, eliminating the buffers that previously cushioned price spikes. After weeks of complacency following a U.S.-Iran memorandum of understanding, the strait's re-closure has driven oil prices to $90 per barrel. Strategic and commercial inventories worldwide, including the U.S. Strategic Petroleum Reserve at its lowest since 1983, have been drained during earlier phases of the war. The IMF warns that with spare capacity deployed, demand compressed, and inventories drawn down, the world has little room to absorb further shocks. China has tapped its stockpiles and reduced imports to a decade low. Analysts from ING note that SPR releases are set to cease by the end of July, leaving the market exposed to further price rallies during peak demand season.

1 reports · 1 sources · Updated Jul 20, 09:00 PM UTC

The article argues that while the European Union has signed numerous free-trade agreements to uphold the rules-based global trading system, these deals fail to address the primary threat: China's state-subsidized export dominance. The EU's accords focus on tariff reductions, labor standards, environmental commitments, and digital trade rules, contrasting with the Trump administration's bilateral, discriminatory US Reciprocal Trade Agreements (ARTs) that target Chinese trans-shipment and investment. However, Europe's deals lack mechanisms to counter China's massive subsidies (4.4% of GDP), intellectual property theft, and growing trade surplus with the EU, which hit a new record. The author suggests Europe should adopt US-style pushback measures to protect free trade from Chinese non-compliance with global commercial rules.

1 reports · 1 sources · Updated Jul 20, 02:42 PM UTC

The article analyzes the competing trade strategies of the European Union and the United States in shaping the global trading system. The EU has signed numerous free-trade agreements emphasizing rules-based order, labor protections, environmental standards, and digital provisions, while the Trump administration's Reciprocal Trade Agreements (ARTs) are bilateral, discriminatory, and flexible. The EU's deals offer stability and innovation but fail to address the primary threat: China's export dominance, fueled by massive subsidies, intellectual property theft, and forced technology transfers. The US agreements, though less comprehensive, actively counter China through tighter rules of origin, investment screening, and export controls. The author argues Europe must adopt similar measures to protect free trade from Chinese non-compliance with global rules.

1 reports · 1 sources · Updated Jul 20, 02:42 PM UTC

Andy Burnham is set to become the UK's seventh prime minister in a decade, but Wall Street veteran Ed Yardeni warns that bond investors, not the prime minister, truly control the country's economic direction. The article highlights an IMF report noting that the 2022 gilt market turmoil marked a structural shift in fragility, with foreign investors now holding up to 30% of UK government debt and global factors driving 60-90% of yield variation. Burnham, who previously criticized being 'in hock to the bond market,' inherits a hyper-reactive market that ousted Liz Truss. He faces a difficult balancing act between reviving growth and maintaining fiscal credibility. Markets are cautiously optimistic about his expected appointment of Shabana Mahmood as Chancellor, but Yardeni cautions that 'Bond Vigilantes are restless.' The IMF advises against hiking taxes on top earners, suggesting instead targeted increases at lower income levels.

1 reports · 1 sources · Updated Jul 19, 08:00 PM UTC

Andy Burnham is set to become the United Kingdom's seventh prime minister in a decade, but Wall Street veteran Ed Yardeni warns that bond investors, not the prime minister, will truly be in charge. The article highlights an IMF report noting that the 2022 gilt market turmoil under Liz Truss marked a structural shift, leaving the UK vulnerable to volatile capital flows. Foreign investors now hold up to 30% of UK government debt, and the bond market remains 'hyper-reactive.' Burnham, a Labour Party leader, has previously criticized being 'in hock to the bond market' but must now balance reviving economic growth with maintaining fiscal credibility. Reports that Shabana Mahmood may become Chancellor have cheered markets, but Yardeni cautions that 'Bond Vigilantes are restless.' The IMF suggests targeted tax increases on lower earners rather than top earners to avoid harming the economy.

1 reports · 1 sources · Updated Jul 19, 08:00 PM UTC

This analysis from Euractiv examines the contentious debate over joint EU debt, focusing on the Recovery and Resilience Facility (RRF), the flagship component of the NextGenerationEU post-pandemic plan. Northern European 'frugal' countries (Netherlands, Sweden, Germany, Austria, Finland) oppose further common debt, arguing it forces their citizens to pay higher interest rates and that existing RRF debt must be repaid by future generations. The article notes that despite being called a recovery fund, the RRF was slow to disburse funds, with first payments arriving after the EU economy had already begun recovering. It also challenges the claim that the RRF is a 'performance-based' mechanism, with the European Court of Auditors president calling it a 'delivery instrument' instead. The piece ultimately argues that despite problems, joint EU debt remains economically necessary for massive investment needs estimated at €800 billion per year.

1 reports · 1 sources · Updated Jul 18, 02:00 AM UTC

This Brookings Institution analysis examines the challenge of mobilizing private investment in fragile states amid a 23% contraction in aid from advanced economies since 2025. It argues that multilateral development banks (MDBs) and development finance institutions must pursue a dual strategy: strengthening governance and institutions, and leveraging their underused strategic intelligence to navigate social and political forces. The article notes that only 11% of private finance for development reached fragile states in 2023-2024, as zero-sum politics, weak social contracts, and extractive institutions deter investment. It warns that ignoring governance can entrench predatory power, citing Tunisia before the Arab Spring where politically connected firms captured 21% of profits despite minimal output. The piece concludes that MDBs hold a powerful but underutilized asset in their ability to interpret complex local dynamics.

1 reports · 1 sources · Updated Jul 17, 07:44 PM UTC

The article analyzes the shift in global development since 2025, focusing on mobilizing private capital in fragile states. It notes a 23% contraction in aid from advanced economies and the World Bank's new emphasis on job creation. In fragile states, only 11% of private development finance was directed in 2023-2024, hindered by zero-sum politics, weak governance, and broken social contracts. The author argues that multilateral development banks (MDBs) should pursue a dual strategy: strengthening governance and institutions, and leveraging their underused strategic intelligence to navigate social and political forces. Examples from Tunisia and sub-Saharan Africa show how ignoring governance can entrench predatory power. The piece concludes that strong fiscal institutions attract higher-quality foreign investment, while weak governance undermines both development and private capital returns.

1 reports · 1 sources · Updated Jul 17, 07:44 PM UTC

The article argues that in a post-2025 global development landscape marked by a 23% contraction in aid from advanced economies, multilateral development banks (MDBs) and development finance institutions must adopt a dual strategy to attract private capital to fragile states. First, they should double down on supporting governance and institutions, which are the foundations of functional markets. Second, they should leverage their underused strategic intelligence to navigate the social and political forces that keep economies stagnant. The article notes that only 11% of private finance for development reached fragile states in 2023-2024, and that weak governance, broken social contracts, and elite capture deter investment. It warns that ignoring governance can entrench predatory power, as seen in Tunisia before the Arab Spring. The piece concludes that MDBs hold a powerful but underused asset in their strategic intelligence to close the gap between risk perception and real opportunity.

1 reports · 1 sources · Updated Jul 17, 07:44 PM UTC

Former UK Prime Minister Liz Truss, whose own 2022 mini-budget caused a financial crisis and her ouster after 49 days, has predicted that incoming Labour Prime Minister Andy Burnham will lead Britain into a 'financial crisis.' Speaking at the right-wing CPAC GB conference, Truss claimed 'the money's going to run out' and that migration and stagnation will worsen. The prediction comes as Burnham prepares to take office from Keir Starmer, amid concerns over his public spending plans. The IMF recently warned that UK gilt markets remain nervous due to the scars from Truss's 2022 mini-budget. Truss, who lost her seat in 2024, also called for a 'counter-revolution' and criticized political cowardice, though her appearance drew a sparse audience. The article highlights the irony of Truss's warning given her own disastrous economic record.

1 reports · 1 sources · Updated Jul 17, 03:03 PM UTC

Former UK Prime Minister Liz Truss, whose own 2022 mini-budget caused market turmoil and led to her ouster after 49 days, has predicted that incoming Labour Prime Minister Andy Burnham will lead Britain into a 'financial crisis.' Speaking at the CPAC GB conference, Truss warned that 'the money's going to run out' and forecast another prime minister before 2029. The remarks come as Burnham prepares to take office from Keir Starmer, with some concerns over his public spending plans. The IMF recently warned that UK gilt markets remain nervous due to the legacy of Truss's 2022 budget. Truss, who lost her seat in 2024, also called for a right-wing 'counter-revolution' and criticized political cowardice. The article highlights the irony of Truss's prediction given her own role in a previous financial crisis.

1 reports · 1 sources · Updated Jul 17, 03:03 PM UTC

Former UK Prime Minister Liz Truss, whose own 2022 mini-budget caused a financial crisis and her ouster after 49 days, has predicted that incoming Labour Prime Minister Andy Burnham will lead Britain into a 'financial crisis.' Speaking at the CPAC GB right-wing conference, Truss claimed 'the money's going to run out' and warned of continued 'decay and stagnation.' The prediction comes as Burnham prepares to take office from Keir Starmer, amid concerns over his public spending plans. The International Monetary Fund recently warned that UK gilt markets remain nervous due to the scars from Truss's 2022 mini-budget. Truss, who lost her parliamentary seat in 2024, also called for a 'counter-revolution' by right-wing figures. The article notes the irony of Truss's warning given her own disastrous economic record, and reports that only a third of the 500-seat hall was occupied for her speech.

1 reports · 1 sources · Updated Jul 17, 03:03 PM UTC

According to a report by the Weil European Distress Index (WEDI), corporate distress across Europe surged in Q2 2026, with the retail and consumer sectors experiencing the sharpest rise since the global financial crisis. Weak consumer confidence, reduced discretionary spending, and higher operating costs are squeezing profitability, liquidity, and investment. The industrial segment is the next most distressed, facing subdued demand and energy cost uncertainty. Geopolitical instability, including the Middle East conflict and the Iran situation, compounds pressures. Germany recorded the highest national distress, followed by France and the UK, while Spain and Italy remain relatively resilient. The IMF has downgraded Euro Area GDP growth forecasts for 2026 to 1.1%, indicating persistent difficult conditions.

1 reports · 1 sources · Updated Jul 17, 10:56 AM UTC

A World Bank delegation, led by Vice President Susana Cordeiro Guerra, has returned to Venezuela for the first time in seven years, marking a significant resumption of ties between the international financial institution and the South American nation. The team held constructive discussions with Venezuelan interim president Delcy Rodriguez regarding recent economic developments and potential technical assistance. This visit follows an announcement in mid-April by both the World Bank and the International Monetary Fund (IMF) about restoring relations. The re-engagement comes amid major geopolitical shifts, including the reported kidnapping of President Nicolas Maduro during a US military operation earlier in the year. Consequently, Washington has pressured Caracas to open its economy to foreign investment, particularly in energy, and has lifted many sanctions, leading to the gradual resumption of flights. These developments aim to reassure hesitant investors and potentially unlock financial support from the IMF and World Bank, signaling a new phase in Venezuela's economic and diplomatic landscape.

1 reports · 1 sources

Prime Minister Shehbaz Sharif has welcomed the decision by Chinese firm IBI Group to establish its Pakistan Digital Economy Headquarters in the country. During a meeting with an 11-member Chinese business delegation led by IBI Founder Qian Xiaojun, the Prime Minister highlighted the strengthening business-to-business cooperation between Pakistan and China. Qian Xiaojun stated that the new headquarters would serve as a command center for Pakistan's digital transformation, offering small and medium-sized enterprises access to the Chinese market. This development follows a B2B Investment Conference held in Beijing in September 2025. Concurrently, the International Monetary Fund (IMF) approved approximately $1.32 billion in fresh funding for Pakistan after completing reviews of its loan facilities. While noting that Pakistan's economic recovery is gaining traction with a 3.8 percent GDP growth rate, the IMF warned that the country remains highly exposed to spillovers from the war in the Middle East, which could impact inflation, fuel imports, and remittances from the Gulf region.

1 reports · 1 sources

The Pakistan Stock Exchange (PSX) experienced a bearish week, with its benchmark index declining by 3.23% to close at 166,596, driven primarily by escalating tensions between the US and Iran and rising Brent crude prices. Despite the market downturn, Pakistan’s macroeconomic fundamentals showed significant improvement. The country received a US$1.3 billion IMF disbursement following the completion of the third EFF review, and successfully launched its inaugural US$250 million Panda Bond in China, which was heavily oversubscribed. Fiscal metrics strengthened as the fiscal deficit narrowed to a record low of 0.7% of GDP, while primary surplus and petroleum levy collections rose substantially. Additionally, auto sales doubled, and remittances increased by 11.4% year-on-year. Foreign exchange reserves edged up to US$15.87 billion. While geopolitical risks regarding the Strait of Hormuz remain a key near-term driver, analysts highlight attractive market valuations and improved external financing outlooks. Top performing sectors included Leasing Companies and Sugar, while Textiles lagged. The government also announced plans to abolish gas cross-subsidies by June 2027 and imported US crude oil for the first time.

1 reports · 1 sources