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The potential amount of credit available to the IMF under the GAB totals SDR 17bn (about $26bn), with an additional SDR 1.5bn available under an associated arrangement [clarify] with Saudi Arabia. The GAB was established in 1962 and expanded in 1983 to SDR 17bn, from about SDR 6bn. It has been activated ten times, the last time in 1998.
(Reuters) -Pakistan plans to seek a new loan of at least $6 billion from the International Monetary Fund to help the incoming government repay billions in debt due this year, Bloomberg News ...
The most recent arrangement approved Argentina to borrow SDR 40,714.00 million, of which Argentina has borrowed SDR 31,913.71 million [4] as of December 10, 2019. Over the past 63 years, Argentina has frequently used the resources of the IMF and holds the record for the largest loan distributed, reaching nearly $57 billion in 2018. [ 5 ]
The IMF and World Bank (two Bretton Woods institutions) require borrowing countries to implement certain policies in order to obtain new loans (or to lower interest rates on existing ones). These policies are typically centered around increased privatization , liberalizing trade and foreign investment, and balancing government deficit. [ 2 ]
BUENOS AIRES (Reuters) -Argentina's next government would not ask the International Monetary Fund (IMF) for any new loans if center-right presidential hopeful Patricia Bullrich prevails in next ...
The International Monetary Fund will start a new Ukraine mission in coming weeks to assess the war-torn country's $15.6 billion loan program and latest economic developments there amid stepped up ...
The IMF Stand-By Arrangement (SBA) is an economic program of the International Monetary Fund (IMF) involving financial aid to a member state in need of financial assistance, normally arising from a financial crisis. In return for aid, the economic program stipulates needed reforms in the recipient country aimed at bringing it back on a path of ...
The IMF also made upward revisions to its 2024 growth forecasts for India and China, which it now expects to expand by 7% and 5% respectively — up from forecasts of 6.8% and 4.6% in April.