Russia's banking sector has faced a significant outflow of its population's funds in foreign currency as the conflict in Ukraine continues to create a fear of insecurity.
The IMF's aid would include an existing $370 million loan program, as well as access to reserves in the form of Special Drawing Rights.
The IMF warns inadequate vaccine access and pandemic relief measures are widening the gulf between recoveries in developed and less developed economies.
The Reserve Bank of India is considering a phased plan to implement a digital rupee, and the Central Bank of Nigeria aims to launch a digital naira pilot in October.
Lebanon needs financial support from the Arab world, particularly the rich Gulf states, but its continuous political instability has become a hindrance in the way of a bailout.
Cryptocurrency’s protection against inflation has been one of key drivers behind its popularity with the Turkish public.
Meanwhile, another decree issued by the Turkish presidency said the central bank governor Naci Agbal has been replaced with Sahap Kavcioglu.
The economic and financial crisis roiling Lebanon is the gravest threat to its stability since the 15-year civil war ended in 1990.
Sunday's move, seen as the boldest economic measure taken by the joint military-civilian government, could provoke a popular backlash as the price of goods and services rise in response to the fall of the pound’s value.
Central bank chief Riad Salameh has led the entity since 1993. His role came under scrutiny after Lebanon’s financial system collapsed in an unprecedented crisis in 2019.
Turkish economy is projected to grow 2.6 percent and 3.5 percent in 2021 and 2022 respectively in latest economic survey by Organisation for Economic Co-operation and Development.
The announcement by Central Bank chief Naci Agbal puts Turkey on the fast track to adopting a central bank digital currency (CBDC).
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