Exclusive: chancellor criticised by former Tory international development secretaries for planned use of $27.4bn windfall In February, Rishi Sunak said the fund would give ‘additional financing to low-income countries’. Photograph: MI News/NurPhoto/Rex/Shutterstock Rishi Sunak is to save billions of pounds by counting as aid financial assistance to poor countries beingContinue Reading

WASHINGTON — The tenure of Kristalina Georgieva as managing director of the International Monetary Fund faces a pivotal moment on Friday, when the fund’s executive board will meet to decide whether she should continue to be its leader following allegations that she pressured staff to manipulate a report to placateContinue Reading

ISLAMABAD, Pakistan — The International Monetary Fund said it had reached a staff-level agreement with the Pakistani government for the revival of a bailout program, providing a welcome reprieve to the country as it struggles with a cratering economy, depreciating currency, high inflation and political instability. If it is approvedContinue Reading

The crisis has pushed up food and energy prices, inflated inflation and devalued incomes. The International Monetary Fund (IMF) said on Tuesday that Russia’s attack on Ukraine could affect the global economy as a whole by slowing growth and increasing inflation.In addition to human suffering and the influx of historicalContinue Reading