The pandemic, Russia’s attack on Ukraine and a sharp rise in global interest rates have forced dozens of countries to seek IMF assistance.
| The IMF’s lending to economically troubled countries has hit a record high as the world’s lender of last resort battles simultaneous crises that have pushed at least five countries into default, with more expected to follow.and a sharp rise in global interest rates have forced dozens of countries to seek IMF assistance. Aanalysis of IMF data shows that at the end of August, the volume of loans disbursed by the fund amounted to $US140 billion in 44 separate programs.
Mr Gallagher is co-author of a report this week warning that 55 of the world’s poorest countries face debt repayments of $US436 billion between 2022 and 2028, with about $US61 billion falling due this year and in 2023, and almost $US70 billion in 2024. Zambia and Sri Lanka – which both defaulted in the pandemic along with Lebanon, Russia and Suriname – are negotiating IMF bailouts as part of efforts to restructure their debts. Ghana, Egypt and Tunisia are in early talks for similar support.at the end of August; Argentina is set to receive $US3.9 billion in the next few weeks as part of its $US41 billion program.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘Russia needs to stop’: Marles backs Ukraine after ‘appalling’ Putin threatThe Ukraine war is showing more signs it will go on for longer, Defence Minister Richard Marles has warned.
Read more »
Australians should prepare for Russia-Ukraine war to go on for longer, Richard Marles saysAustralia's defence minister says Vladimir Putin's threat to use nuclear weapons has caused 'anxiety', adding that the comments 'cannot be allowed to stand'.
Read more »
Russia-Ukraine war latest: what we know on day 214 of the invasionVladimir Putin signs law with up to 10 years’ jail for refusing to fight as more than 700 arrested in latest Russian protests against military call-up
Read more »
‘Russia needs to stop’: Marles says Australia will stand by UkraineThe Ukraine war is showing more signs it will go on for longer, Defence Minister Richard Marles has warned.
Read more »
‘Russia needs to stop’: Marles backs Ukraine after ‘appalling’ Putin threatThe Ukraine war is showing more signs it will go on for longer, Defence Minister Richard Marles has warned.
Read more »