According to central bank chief Riad Salameh, Lebanon will adopt a new official exchange rate of 15,000 pounds per US dollar on February 1, which will devalue the currency by 90%.
Chinese loans have shorter repayment terms and higher interest rates than bilateral loans from Paris Club nations or loans from international organizations like the World Bank or the International Monetary Fund. This is the list of Countries that are most in debt to China.
The chief strategy officer of the Human Rights Foundation, a pro-Bitcoin NGO, said that the reason why the IMF hates bitcoin is that it is an outside currency that’s beyond the control of alphabet soup organizations.
Pakistan has asked for IMF bailout to avoid an imminent collapse. In contrast to many African and South American countries, a collapse in Pakistan might have global consequences.
Ukraine's exports have been badly impeded by the conflict, which has caused the country to close its ports, while Russia's exports have been damaged by Western sanctions. This has left India in a critical role as IMF Chief begs India to revise wheat export ban policy at World Economic Forum.
In a recent post, the IMF has warned of the possibility of civil unrest in poorer nations amid the global food crisis due to the Ukraine conflict.
Sri Lanka which is experiencing its worst economic downturn since its 1948 independence has declared default and is now looking for emergency IMF bailout.
Russia has condemned the United States and its allies of attempting to orchestrate a false default, despite the fact that the nation has the funds to pay its bills. This might ultimately lead to many countries cutting dollar holdings after Russian reserves were frozen, according to the IMF.
Argentina is trapped in $44 billion of IMF odious debt taken on by corrupt right-wing regimes. Seeking alternatives to US hegemony, President Alberto Fernández traveled to Russia and China, forming an alliance with the Eurasian powers, joining the Belt and Road Initiative.
The IMF sent $350 million in cash to the Myanmar government just days before the military coup.
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