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Three years since the pandemic started, uncertainties and risks still weigh heavily on the global economy, according to the World Bank

Opinion is divided on the issue, with one section of experts and seasoned politicians claiming meritocracy isn't always at play, while another puts the choice down to plain pragmatism

Business Standard brings you the top headlines at this hour

The IMF chief on Thursday said that the world economy is expected to grow at less than 3 per cent this year, with India and China expected to account for half of global growth in 2023. International Monetary Fund (IMF) managing director Kristalina Georgieva warned that a sharp slowdown in the world economy last year following the raging pandemic and Russia's military invasion of Ukraine would continue this year. The period of slower economic activity will be prolonged, with the next five years witnessing less than 3 per cent growth, our lowest medium-term growth forecast since 1990, and well below the average of 3.8 per cent from the past two decades," she said. Some momentum comes from emerging economies Asia especially is a bright spot. India and China are expected to account for half of global growth in 2023. But others face a steeper climb, she explained. After a strong recovery in 2021 came the severe shock of Russia's war in Ukraine and its wide-ranging consequences global

Sri Lanka has received the first tranche of about $330 million from the IMF, and this has not only eased liquidity conditions in the domestic foreign currency market

The IMF paper said that a set of enabling policies in the financial and telecommunications sector also supported the uptake of India Stack

The overall balance of payments position continues to remain under stress, with foreign exchange reserves still at low levels, the central bank said

The Central Bank of Sri Lanka kept the standing lending facility rate unchanged at 16.5%, according to a statement on its website on Tuesday

Ukraine has received the first tranche of USD 2.7 billion from a new International Monetary Fund (IMF) EEF program, CNN reported quoting Ukrainian Finance Minister Sergii Marchenko

Currency dealers in open market in Pak have offered loans of $24 billion to the government for the next two years to help it stay away from the International Monetary Fund (IMF) programme

A European Union official visiting Lebanon said on Friday that the international body will increase its humanitarian assistance to the crisis-struck country, but that more significant long-term aid depends on reforms and a deal with the International Monetary Fund. EU Commissioner for Crisis Management Janez Lenarcic said at a press conference following his two-day visit that the EU will provide 60 million euros (more than USD 65 million) in humanitarian assistance to Lebanon in 2023, a 20 per cent increase from last year. But he warned that such aid is "not a sustainable long-term solution to the massive financial crisis that has left three-quarters of Lebanon's population of 6 million in poverty. To get out of the crisis, he said, Lebanon needs to elect a president -- which would resolve a presidential vacuum that has dragged on for five months - and to ink a deal with the IMF, which he said would unlock substantial financial support also from the European Union that should help .

Pakistan claimed that it received an indication from Saudi Arabia for additional loans that may help to break gridlock with the International Monetary Fund (IMF)

New IMF loan raises questions

It is not a central player today as the world deals with inflation and financial instability and countries hurtle towards debt crisis. It must be revamped and strengthened to play that role

NK Singh, Larry Summers to head the expert group

Adding to a growing chorus of warnings from economic leaders, the IMF chief said it was clear that risks to financial stability had increased after the recent collapse of Silicon Valley Bank

The IMF predicted growth of 2.9 per cent this year, and will release new forecasts next month

Cash-strapped Pakistan has received a rollover of USD 2 billion in deposits for a period of one year from its all-weather ally China to help Islamabad get a much-required bailout from the IMF to stabilise its economy, a media report said on Friday. The rollover, which basically is not a loan but a financial deposit to be kept at Pakistan's central bank for a period of one year, is one of the requirements of the International Monetary Fund (IMF) in meeting its external financing needs in order to move towards inking the staff-level agreement, The News International reported. Minister for Finance Ishaq Dar confirmed the development. Yes, Dar was quoted as saying in a brief response when asked about getting a rollover of USD 2 billion SAFE (State Administration of Foreign Exchange) deposits from China. Pakistan and the IMF have been negotiating the release of a USD 1.1 billion loan since February but so far without any success due to the tough conditions by the donor which Pakistan is

The meeting comes amid continued delays in securing debt treatment agreements for Zambia, Ghana, and Ethiopia that US officials and others blame on foot-dragging by China