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11 Apr 23
Debt payments are set to take up more government revenue in developing countries than at any point since 1998, researchers have found.
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6 Apr 23
Large foreign reserves and low government debt levels drove Saudi Arabia’s credit rating upgrade, ratings agency Fitch has said.
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6 Apr 23
Mayoral proposals to cut budgets next year risks destabilising public services and undermining the city’s recovery, council leaders have warned.
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5 Apr 23
Political instability could put reforms key to Pakistan’s recovery from Covid-19 and recent floods at risk, economists at the World Bank have warned.
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4 Apr 23
The struggling South African state-owned power company Eskom will not have to disclose irregular spending in its annual financial statements, because the government fears the negative impact of...
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4 Apr 23
Social unrest caused by controversial judicial reforms could knock off more than half of the Israeli economy’s growth in the coming years, the nation’s central bank has warned.
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3 Apr 23
Lower-income countries will be unable to meet their financing needs without urgent support from wealthier countries, IMF managing director Kristalina Georgieva has warned.
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31 Mar 23
Emerging economies are facing a challenging environment with inflation, high interest rates and low growth, and rating agency S&P Global has warned this will hurt their creditworthiness in the...
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31 Mar 23
Staff cuts under former president Donald Trump’s leadership have hurt the US Treasury’s ability to oversee financial markets and the banking sector, the department’s top official has said.
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30 Mar 23
Switzerland will provide immediate support of almost $120bn to prevent the collapse of Credit Suisse and “avert an international financial crisis”.
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30 Mar 23
The Italian government has been given an extra month to convince the European Commission to release €19bn of withheld post-pandemic recovery funding.
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28 Mar 23
The 2020s are looking like a “lost decade” with the maximum level of growth achievable without causing inflation falling to a 30-year low, the World Bank has suggested.
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28 Mar 23
The Chinese government has lent out hundreds of billions of dollars in debt relief after nations it lent infrastructure loans to were unable to meet their repayments, a landmark report has said.
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27 Mar 23
The depletion of foreign reserves and weak governance will limit Bolivia’s ability to meet debt costs, and were major contributors to a cut in its credit rating by Moody’s.
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27 Mar 23
Local authorities in New Zealand have been urged to ensure they have strong procurement controls after a senior officer received a prison sentence for corruption.
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24 Mar 23
Raising the French retirement age could benefit the government’s fiscal balance in the medium term after an initial negative impact, but the political fallout could hurt the president’s chance of...
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24 Mar 23
The reconstruction and recovery of Ukraine is expected to cost more $400bn and take almost a decade to complete, researchers have said.
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24 Mar 23
Senior figures in Germany and the United States have urged the World Bank to adopt a “strong set of initial evolution reforms” aimed at driving climate finance.
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23 Mar 23
The Ukrainian government has received preliminary approval of a $15.6bn package from the International Monetary Fund to support the nation through its war with Russia and help adopt reforms to reduce...
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21 Mar 23
The devastation caused by last month’s earthquakes in Turkey have led the European Union lending arm to override its years-long ban on providing finance to the country.
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21 Mar 23
A $3bn bailout has finally been approved by the International Monetary Fund’s board, six months after a deal was first reached.
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20 Mar 23
Insufficient and poorly targeted climate finance means the world is falling behind on action against global warming, a landmark report has stated.
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17 Mar 23
French president Emmanuel Macron has tried to bypass the National Assembly to raise the retirement age – a move he sees as vital to fixing public finances – sparking countrywide protests.
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17 Mar 23
A “slightly more optimistic” global economic outlook should not be enough to keep central banks from raising interest rates, despite the harm it does both to households and developing countries, the...
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16 Mar 23
The Nigerian government has launched a $670m fund to help young tech entrepreneurs who face difficulty accessing finance – a longstanding barrier to the country’s digital sector.