09 Apr 2020

Half billion more people face poverty due to virus

According to a report based on research from King’s College London and the Australian National University, approximately half a billion people could be pushed under their respective poverty lines due to economic fallout from the COVID-19 pandemic. The report states that this will likely occur unless wealthier countries take aggressive

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08 Apr 2020

U.S. to Block Iran’s Request to IMF for $5 Billion Loan to Fight Coronavirus

The US has stated that it plans to block Iran’s request for $5 billion in emergency aid from the International Monetary Fund. Iran has requested the aid as it continues to fight the COVID-19 virus as the country has been the hardest-hit in the Middle East. However, senior officials in

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02 Aug 2018

Pakistan to seek record $10-12 billion bailout from IMF

Pakistan is seeking a $10-12 billion bailout from the IMF, which would mark the country’s 13th from the IMF, and double the $5.3 billion received in 2013. The bailout would come with austerity measures and would limit the new Prime Minister’s ability to fulfill his campaign promises on public spending

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27 Jul 2018

IMF: Venezuela’s inflation rate will be 1,000,000% by the end of the year

The IMF has projected inflation of the Venezuelan Bolivar to reach 1 million percent by year end 2018, comparable to rates reached in Germany after World War I and more recently in Mugabe’s Zimbabwe. This will be combined with a projected 18% decline in GDP, its third straight year of

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11 Jul 2018

China is Kenya’s largest creditor with 72% of total bilateral debt

Kenya’s total debt to China has grown 15 percentage points since 2016, increasing from 57% to 72% of its bilateral debt, an amount 8 times greater than the next biggest lending partner (France). In the past 5 years, debt levels to China have multiplied by a factor of 10. Critics

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