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High-Cost Loans, Trump Turmoil Hurting Africa, Says G20 Panel Chief
Critically needed economic growth in Africa is being held back by high borrowing costs imposed by international lenders, with unpredictable US policy changes adding to the strain, the head of the G20 panel on the continent said.
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Complaint Against Blusmart Founders' Firm For Alleged Document Fraud
Indian state-owned renewables lender filed a complaint with the Economic Offences Wing (EOW) against Gensol Engineering and begun an internal review over an alleged submission of falsified documents, it said on Friday.
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Pakistan Facing "Exceptionally High" Economic Risks, Says IMF
Beyond the upcoming election cycle and the current standby agreement, Pakistan needs another International Monetary Fund (IMF) program and assistance from other multilateral lenders, the lender stated in a report released on Tuesday.
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IMF Approves $3 Billion Bailout For Pakistan
The International Monetary Fund's board approved a $3 billion bailout programme for Pakistan on Wednesday, the lender said, which will immediately disburse about $1.2 billion to help the South Asian country.
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Pakistan PM Hopeful For $3 Billion Bailout Approval From IMF
Pakistan's Prime Minister Shehbaz Sharif said on Wednesday he was hopeful that $3 billion short-term bailout from the International Monetary Fund would be approved by the multilateral lender's board when it meets on July 12.
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Sri Lanka Must Achieve Debt Restructuring By September: IMF
The International Monetary Fund on Tuesday reaffirmed that Sri Lanka must achieve its debt restructuring process by September, which is also the time for the global lender's formal review of the bailout facility it extended to the nation.
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Banks Must Hear Borrowers Before Classifying Accounts As Fraud: Supreme Court
The Supreme Court rejected the State Bank of India's appeal and ruled that it is reasonably practicable for the lender banks to provide an opportunity for a hearing to the borrowers before classifying their accounts as fraud.
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"Trust In International Financial Institutions Has Eroded": PM At G20 Meet
Prime Minister Narendra Modi added his voice Friday to calls for reform of global lenders such as the World Bank, as G20 finance ministers and central bank heads met.
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"Only Option We Have...": Sri Lanka President On Economic Recovery
In the face of unprecedented economic hardship in Sri Lanka, President Ranil Wickremesinghe has said that the only option for the island nation to emerge from this crisis is to seek the support of the global lender International Monetary Fund (IMF).
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Sri Lanka Needs To Talk To China On Debt Restructuring, Says IMF
The International Monetary Fund (IMF) said Sri Lanka should kick off debt restructuring talks with its bilateral lender China, while the island state's government seeks a financing loan from the IMF.
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Pakistan, IMF Say Key Progress Made In $6 Billion Bailout Talks
Key progress has been made in talks on the revival of Pakistan's International Monetary Fund bailout programme, both sides said on Wednesday, with Islamabad expecting the lender to increase the size and duration of the 39-month, $6 billion facility.
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Sri Lanka Seeks Rapid Financial Assistance From IMF As Crisis Deepens
Sri Lanka has requested the International Monetary Fund (IMF) for rapid financial assistance and the global lender could consider it after initial reluctance, an aide to the country's finance minister said on Tuesday.
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Russia's Top Lender Sberbank Launches Smart TVs to Offset Heavy Blow of Western Sanctions
Russia's top lender Sberbank on Tuesday unveiled a range of smart TVs, the latest addition to its technology arsenal, after its international operations are heavily compromised by Western sanctions against Moscow over Ukraine invasion.
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Germany's Deutsche Bank Shuts Down Its Operations In Russia
Germany's biggest lender Deutsche Bank said Friday it was following other international companies in shutting down its operations in Russia in protest of Moscow's invasion of Ukraine.
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SBI Stops Handling Trade With Sanctioned Russian Entities: Report
India's top lender will not process any transactions involving Russian entities subject to international sanctions imposed on Russia after its invasion of Ukraine, according to a letter seen by Reuters and people familiar with the matter.
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High-Cost Loans, Trump Turmoil Hurting Africa, Says G20 Panel Chief
Critically needed economic growth in Africa is being held back by high borrowing costs imposed by international lenders, with unpredictable US policy changes adding to the strain, the head of the G20 panel on the continent said.
-
Complaint Against Blusmart Founders' Firm For Alleged Document Fraud
Indian state-owned renewables lender filed a complaint with the Economic Offences Wing (EOW) against Gensol Engineering and begun an internal review over an alleged submission of falsified documents, it said on Friday.
-
Pakistan Facing "Exceptionally High" Economic Risks, Says IMF
Beyond the upcoming election cycle and the current standby agreement, Pakistan needs another International Monetary Fund (IMF) program and assistance from other multilateral lenders, the lender stated in a report released on Tuesday.
-
IMF Approves $3 Billion Bailout For Pakistan
The International Monetary Fund's board approved a $3 billion bailout programme for Pakistan on Wednesday, the lender said, which will immediately disburse about $1.2 billion to help the South Asian country.
-
Pakistan PM Hopeful For $3 Billion Bailout Approval From IMF
Pakistan's Prime Minister Shehbaz Sharif said on Wednesday he was hopeful that $3 billion short-term bailout from the International Monetary Fund would be approved by the multilateral lender's board when it meets on July 12.
-
Sri Lanka Must Achieve Debt Restructuring By September: IMF
The International Monetary Fund on Tuesday reaffirmed that Sri Lanka must achieve its debt restructuring process by September, which is also the time for the global lender's formal review of the bailout facility it extended to the nation.
-
Banks Must Hear Borrowers Before Classifying Accounts As Fraud: Supreme Court
The Supreme Court rejected the State Bank of India's appeal and ruled that it is reasonably practicable for the lender banks to provide an opportunity for a hearing to the borrowers before classifying their accounts as fraud.
-
"Trust In International Financial Institutions Has Eroded": PM At G20 Meet
Prime Minister Narendra Modi added his voice Friday to calls for reform of global lenders such as the World Bank, as G20 finance ministers and central bank heads met.
-
"Only Option We Have...": Sri Lanka President On Economic Recovery
In the face of unprecedented economic hardship in Sri Lanka, President Ranil Wickremesinghe has said that the only option for the island nation to emerge from this crisis is to seek the support of the global lender International Monetary Fund (IMF).
-
Sri Lanka Needs To Talk To China On Debt Restructuring, Says IMF
The International Monetary Fund (IMF) said Sri Lanka should kick off debt restructuring talks with its bilateral lender China, while the island state's government seeks a financing loan from the IMF.
-
Pakistan, IMF Say Key Progress Made In $6 Billion Bailout Talks
Key progress has been made in talks on the revival of Pakistan's International Monetary Fund bailout programme, both sides said on Wednesday, with Islamabad expecting the lender to increase the size and duration of the 39-month, $6 billion facility.
-
Sri Lanka Seeks Rapid Financial Assistance From IMF As Crisis Deepens
Sri Lanka has requested the International Monetary Fund (IMF) for rapid financial assistance and the global lender could consider it after initial reluctance, an aide to the country's finance minister said on Tuesday.
-
Russia's Top Lender Sberbank Launches Smart TVs to Offset Heavy Blow of Western Sanctions
Russia's top lender Sberbank on Tuesday unveiled a range of smart TVs, the latest addition to its technology arsenal, after its international operations are heavily compromised by Western sanctions against Moscow over Ukraine invasion.
-
Germany's Deutsche Bank Shuts Down Its Operations In Russia
Germany's biggest lender Deutsche Bank said Friday it was following other international companies in shutting down its operations in Russia in protest of Moscow's invasion of Ukraine.
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SBI Stops Handling Trade With Sanctioned Russian Entities: Report
India's top lender will not process any transactions involving Russian entities subject to international sanctions imposed on Russia after its invasion of Ukraine, according to a letter seen by Reuters and people familiar with the matter.
