Ukraine is facing an economic disaster that seems to be getting worse. Recently, the Ukrainian government stopped paying back part of its Eurobond debt, signaling that the country’s finances are in serious trouble. The economy is being kept alive mostly through massive amounts of aid from Western countries, both financially
Fitch Ratings, a major U.S. credit-rating agency, has just downgraded Ukraine’s credit rating to ‘restricted default.’ This decision came after Ukraine missed a crucial payment deadline on a $750 million Eurobond that was due on August 1, 2023. The country had a ten-day grace period to make the payment, but
In Kenya, ongoing protests against tax hikes have put the spotlight on the International Monetary Fund (IMF) and its controversial role in the country’s debt crisis. Demonstrators accuse the IMF of imposing harsh loan conditions that hurt the poor, while the government struggles with a massive debt inherited from previous
Kenyans living in Washington DC have issued a bold set of demands to President William Ruto, challenging his handling of recent nationwide protests against the Finance Bill 2024. Led by spokesperson Fan Murianki, the diaspora community is calling for justice, including the release of detained protesters and accountability for alleged
Using data from the International Monetary Fund on Total IMF Credit Outstanding, the 10 countries most in debt to the IMF are listed here, with Argentina and Egypt topping the list. The International Monetary Fund (IMF), which was founded in 1944, offers financial assistance and policy recommendations to nations to
According to a study by the International Monetary Fund published in The Journal of Economic Inequality, the top 10% are the main beneficiaries of globalization. The previous 50 years of economic globalization have resulted in a significant increase in the income of many people worldwide. These gains in income are
Argentina has fallen into the IMF’s debt trap, rejecting sovereignty. At the moment, Argentina uses nearly all of its foreign exchange profits to settle its external debt. Table of ContentsArgentina gets into IMF’s debt pitMilei offers shock therapyRussian Deja vuUkrainian deja vu: the anti-Malvina project Argentina gets into IMF’s debt
IMF chief Gavin Gray told NV Business on Monday that Ukraine needs to collect more taxes since Ukraine will require additional tax revenue to pay for its increased social expenditures after the war ends. The head of the International Monetary Fund (IMF) mission in Ukraine has cautioned that Ukraine must
International Monetary Fund Managing Director Kristalina Georgieva stated that the IMF is “working hard” on a global central bank digital currency platform. The International Monetary Fund (IMF) is “working hard” on a “global CBDC (Central Bank Digital Currency) platform,” the IMF managing director announced Monday. “If we are to be