Unrest reigned Thursday among Venezuelans as Friday's monetary reconversion which will remove six zeros from “sovereign bolivars” loomed over, prompting the exchange rate with the US dollar to skyrocket.
While Argentine President Alberto Fernández described his country's situation facing the International Monetary Fund (IMF) as “decide” before the United Nations, a US 1,885 million dollar capital payment was made Wednesday to the global organization.
On September 10, 2021, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation1 with Brazil. Economic performance has been better than expected, in part due to the authorities’ forceful policy response. GDP regained its pre-pandemic level in 2021Q1 and momentum continues to be favourable, supported by booming terms of trade and robust private sector credit growth.
Argentine President Alberto Fernández Monday took the oath of office to the new members of his cabinet, with whom he intends to reconfigure his Government following a resounding loss at September 12's Mandatory, Open and Simultaneous (PASO) elections and its following political crisis.
In the midst of the critical situation that emerged following the results of Sunday 12 September primary election, and the cabinet reshuffle a week later, the government of Argentine president Alberto Fernandez nevertheless confirmed that this week it will honor a US$ 1,9bn repayment plus interests to the IMF.
IMF Managing Director Kristalina Georgieva has stated she disagrees fundamentally with the findings and interpretations of an investigation of alleged irregularities she committed when she held a senior role at the World Bank.
Ecuador and the International Monetary Fund, IMF, finally reached a technical agreement involving 6 billion US dollars, according to the country's economy minister Simon Cueva. The accord must still be approved by the IMF governing board but will unblock “international funds”, which have been frozen for months.
The International Monetary Fund Thursday called for a credible and solid plan on the part of Argentina and recommended the country gradually loosened all restrictions on foreign currency exchange.
The Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva announced on Monday the largest allocation of Special Drawing Rights (SDRs) in history—about US$650 billion— and described the operation as a significant shot in the arm for the world and, if used wisely, a unique opportunity to combat this unprecedented crisis.
The International Monetary Funda's (IMF) Board of Directors Monday approved the disbursement of SDRs for a total amount of US $ 650,000 million as a relief measure amidst the coronavirus pandemic.