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

Read More
11 Nov 2019

IMF to release second tranche of $6 billion Pakistan loan package

The International Monetary Fund (IMF) announced on Friday that it would release the second portion of financial assistance to Pakistan. In April, the IMF agreed to the 13th bailout program for Pakistan amid a worsening economy and the financial decline of over 208 million people. The total financial support that

Read More
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

Read More
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

Read More
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

Read More