A new law allows the State Bank of Pakistan to say no if Islamabad comes asking for funds.
IMF Managing Director Kristalina Georgieva said that when the IMF releases its updated economic forecast next week, it will show the global economy growing at a faster pace than the 5.5 percent gain it projected at the start of the year.
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.
The Modi government takes the politically fraught step of selling its stake in banks, which have been losing money.
The international financial institution said that with the additional approvals of 2020, the active lending portfolio in Turkey rises to $6.7B in support of 21 projects.
Global economy will grow 5.5% this year, but it will continue to face "exceptional uncertainty" due to new waves of infections, IMF says.
Although the novel coronavirus caused a decline in economic activity and employment in the second quarter of 2020, the IMF said the initial policy response to the pandemic led to a sharp rebound in gross domestic product (GDP).
The poor African nation has struggled to convince wealthy banks and investment funds to postpone debt repayments.
The world’s second-largest economy year-on rise in the July to September period is closer to pre-pandemic levels than Q2 growth.
The African country wants to divert resources to take care of its people during the pandemic.
IMF warns that the brunt of the economic impact is being borne by lower income families, predominantly Black and Hispanic, who are least able to weather the downturn.
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