Muhammad Bakhsh Soomro is a journalist based in Islamabad, Pakistan.
He has been doing journalism since 1995, during his professional career he had been working in different reputable media organisations such as BOL TV Network, Daily Kawish and KTN News Network, Pahenji News Paper and Time News. 
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What is the new pension scheme that will be implemented from today?

01 Jul 2024  |  وی او اے  |  Urdu  |  Taxation

President Asif Zardari has approved the Finance Bill 2024, which includes significant tax increases and changes to the pension scheme. The bill, effective from July 1, raises salaries for federal employees but also imposes higher taxes, leading to criticism from former Finance Minister Miftah Ismail. The new pension scheme, approved by the Economic Coordination Committee, introduces several amendments affecting government employees' retirement benefits. The bill also increases taxes on real estate and international travel, while parliamentary members' allowances have been raised. The government claims these measures are necessary for economic stability and to secure an IMF program.

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International Monetary Fund (IMF) Government of Pakistan Economic Coordination Committee (ECC) State Bank of Pakistan Federal Board of Revenue (FBR)

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Anna-Catherine Brigida is a journalist covering immigration, human rights and gender violence in Mexico and Central America.

Analysis: How Argentina’s Massa pulled off election upset with tax cuts and bus fares

23 Oct 2023  |  jackfmfargo.com  |  English  |  Argentinian Politics

Argentine Economy Minister Sergio Massa won the first round general election with 37% of the vote, ahead of far-right libertarian Javier Milei's 30%, by leveraging tax cuts and highlighting the potential increase in bus fares and medical bills under his opponent. Massa expanded income tax exemptions and played up fears of Milei's radical economic proposals, which included privatizing state entities and cutting subsidies. Despite Massa's association with the country's economic struggles, his centrist stance and focus on maintaining state subsidies resonated with voters who rely on them, contrasting with Milei's aggressive campaign and rhetoric.

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International Monetary Fund (IMF)

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Augusto Conconi is a journalist based in São Paulo, Brazil.

Global Inflation Monitor: Compare Brazil with Other Countries

01 Nov 2023  |  www1.folha.uol.com.br  |  Portuguese  |  Inflation

Following the Covid pandemic and the war in Ukraine, the global economy may face new impacts due to the conflict between Hamas and Israel, depending on the extent and direction of the conflict. The IMF's projections for global inflation in the coming years could be recalculated due to this new shock, especially in the Middle East. However, data so far indicates a significant drop in inflation for 2023. The IMF predicts a decrease from 8.7% in 2022 to 6.9% in 2023, with a further reduction to 5.8% in 2024. An interactive chart compares inflation trends worldwide over the past decades, the IMF's projections, and Brazil's price increases. The tool also allows for comparisons with 196 countries. In the BRICS group, Brazil has had moderate inflation compared to its peers, with Russia experiencing the highest rates. Global crises, such as the 2008 financial crisis, have led to inflation spikes in all countries. In Latin America, excluding Argentina and Venezuela, inflation is decreasing and may reach 5% in 2023. Uruguay and Argentina have faced significant economic crises impacting their inflation rates. In Brazil, the highest inflation peaks since the creation of the real occurred during the pandemic, the 2015 recession leading to Dilma Rousseff's impeachment, and in 2002, the year Luiz Inácio Lula da Silva was first elected president.

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Ibre-FGV (Instituto Brasileiro de Economia da Fundação Getulio Vargas) International Monetary Fund (IMF)

Isabella Cota is a freelance journalist based in Ciudad de México, Mexico. As a former Bloomberg Correspondent she has covered Latin America's most exciting business, financial, political and social stories. She was previously with Reuters and has collaborated with The Guardian, BBC Mundo, NPR and ...

James Durston is an award-winning journalist and editor of more than 20 years. Previous roles include Senior Producer for CNN Travel, launch editor for various platforms including LE PAN (high end luxury living magazine and website) and Cathay Pacific's Discovery site, and most recently was ...

RIPE 2024 budget suggests fee increases, but how?

13 Dec 2023  |  btw.media  |  English  |  Economic Policy

RIPE is facing financial uncertainty with forecasted losses of several million euros over the next three years, necessitating a reevaluation of its fee structure. The organization's budget is set to decrease from EUR 40 million to EUR 38 million due to reduced income, higher inflation, and instability in regions like Ukraine. RIPE's CFO, Simon-Jan Haytink, has emphasized the need for change to avoid drastic actions such as cutting activities. A GDP-based fee structure is being considered for its potential benefits in economic fairness, accessibility, financial sustainability, and simplicity, despite its challenges. RIPE NCC's executive board is urged to heed the call for change, as the current financial trajectory is unsustainable.

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International Monetary Fund (IMF) RIPE RIPE NCC World Bank

Lucinda Elliott specilises in print news coverage of Latin America.

She currently reports from South America for The Times of London newspaper alongside several British print publications and radio stations. Filing stories from Caracas, Venezuela throughout 2017 was a turning point in her ...

Argentina takes unwelcome Latin America inflation crown from Venezuela

11 Jan 2024  |  kfgo.com  |  English  |  Latin America

Argentina has surpassed Venezuela to become the Latin American country with the highest inflation rate in 2023, with prices rising over 200%. Venezuela, which has faced years of economic crisis, saw a lower estimated inflation rate of 193%. Argentina's inflation surge is attributed to fiscal deficits, weak trust in the peso, and central bank money printing. Newly elected President Javier Milei is pushing for major reforms and austerity measures to control inflation. Analysts suggest Argentina's inflation rate convergence with Venezuela may be temporary if Milei's stabilization program, backed by the IMF, is successful.

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IMF (International Monetary Fund) Venezuelan Observatory of Finance Ecoanalitica Venezuela’s central bank

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Fabrizio Goria is a journalist based in Washington, United States of America. Editor-in-Chief of EastWest online and Financial journalist for Il Corriere della Sera. Co-founder of Alpinismi. Formerly at Linkiesta, Eurointelligence, Il Riformista and Panorama. Named among the top 100 Foreign Policy “...

The IMF warns the ECB: 'Do not lower rates, the fight against inflation is not over yet'. The pressure on governments: reduce the deficit

13 Oct 2023  |  www.lastampa.it  |  Italian  |  Monetary Policy

Alfred Kammer, Director of the European Department at the Washington institution, cautions against premature celebrations of victory in the fight against inflation, advising the European Central Bank not to lower interest rates and urging governments to reduce deficits.

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International Monetary Fund (IMF) European Central Bank (ECB)

Simon Hunter is a freelance journalist, translator and voice-over artist who has been based in Madrid, Spain since the year 2000. For 15 years he worked at Spain's biggest daily, EL PAÍS, where he was the editor of their English Edition. He is also an experienced television and radio pundit, as ...

Spain sets new record for vacation apartments, with more than 340,000 across the country

20 Dec 2023  |  www.theolivepress.es  |  English  |  Economic Trends

Spain has reached a new high in vacation apartment availability with 340,424 units, offering 1.7 million beds, as reported by the National Statistics Institute (INE) and Spanish daily El Pais. Despite a decline from 2020 to 2021 due to the pandemic, 2022 saw a 9% increase in short-term rentals. All regions except the Balearic Islands experienced growth, with Asturias leading at a 15% increase. Madrid, Barcelona, and Valencia have the highest absolute numbers of rental apartments. The International Monetary Fund has urged Spain to construct more homes to address the housing crisis.

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International Monetary Fund (IMF) National Statistics Institute (INE)

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Bilal Hussain is an independent journalist and columnist with a wealth of experience in covering South Asia, and the Middle East with a particular emphasis on the socio-political landscape of Kashmir. His reporting has been featured in prominent news outlets and organizations such as Voice of ...

ABAD rejects increase in property valuation rates

30 Oct 2023  |  Brecorder  |  English  |  Construction Industry

The Association of Builders and Developers (ABAD) has rejected the increase in property valuation rates in Karachi by the District Administrations, citing concerns over the economic impact on the construction industry and housing affordability. ABAD Chairman Asif Sumsum and former Chairman Hasan Bakhshi criticized the decision, arguing it would burden builders, developers, and end buyers, exacerbating the housing shortfall and economic challenges. They urged the caretaker Sindh Government to reconsider the decision, warning of potential negative consequences for the construction sector and overall economy.

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International Monetary Fund (IMF) Association of Builders and Developers (ABAD) District Administration

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Nasir Khan is a journalist based in Karachi, Pakistan.

Imran's political manoeuvres

02 Mar 2024  |  dailytimes.com.pk  |  English  |  Economic Issues

Imran Khan's political actions, including his statement of 'Absolutely not' to Jonathan Swan and his attempt to prevent the IMF from issuing loans to Pakistan's current government, are criticized as prioritizing personal power over national interest. Despite Pakistan's dire economic situation, needing at least $6 billion to avoid bankruptcy, Khan is accused of exploiting national issues for political gain. The country's debt-to-GDP ratio has surpassed 70%, with high interest payments. Analysts emphasize the urgency of entering another IMF program due to low foreign exchange reserves and upcoming debt repayments. Khan's desire for power is questioned, and the need for political leaders to prioritize Pakistan's improvement over personal gain is highlighted.

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International Monetary Fund (IMF)

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Turyal Azam Khan is a writer, blogger and a journalist based in Lahore, Punjab, Pakistan. 

He has written for Daily Times, Dunya Blogs, The Diplomat, Naya Daur and The Nation. He is also an opinion writer for Asia Times. 

He primarily focuses on current affairs, social issues, lifestyle and ...

Pakistan elections are next month - will young people show up?

18 Jan 2024  |  Muslims in Italy struggle to bury victims of the pandemic  |  English  |  Political Disillusionment

Pakistan's upcoming elections feature familiar faces, causing despair among the youth. Former Prime Minister Nawaz Sharif, facing corruption charges, can now run due to a Supreme Court ruling. His party, PML-N, is a frontrunner, competing against Imran Khan's PTI, which claims unfair treatment, and Bilawal Bhutto's PPP. Key issues like terrorism, economic crisis, and pollution are sidelined by election politics. With 64% of the population under 30, many young Pakistanis are hopeless about the political system and seek opportunities abroad. A 2021 Gallup Pakistan survey showed low youth voter turnout, with many wanting to emigrate. The IMF reports high inflation and negative GDP growth, while terror attacks have increased after TTP ended its ceasefire. Political parties are criticized for ignoring youth and failing to address the brain drain. The article suggests increasing youth voter turnout by making registration more accessible, engaging female voters, and involving youth in politics from school level.

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International Monetary Fund (IMF) Pakistan Muslim League-Nawaz (PML-N) Pakistan Tehreek-e-Insaf (PTI) Pakistan People’s Party (PPP) Election Commission of Pakistan (ECP) Tehrik-i-Taliban Pakistan (TTP)

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Lovemore Khomo is a journalist based in Lilongwe, Central Region, Malawi.
I understand that the world is in our hands and there is need to work together and make a difference to people lives.
I have been working with Farm Radio International Weekly also known as Barza Wire farmradio.fm as a ...

ActionAid asks World Bank, IMF to end failed debt, austerity policy in Africa

13 Oct 2023  |  Malawi Voice  |  English  |  Economic Policy

ActionAid's Country Directors in Africa have urged the World Bank and IMF to halt debt stress and austerity policies in African countries, coinciding with the 2023 annual meetings in Marrakech, Morocco. They advocate for debt cancellation and progressive tax reforms, highlighting the failure of austerity measures to promote economic and human development. A report by ActionAid, 'Fifty Years of Failure,' criticizes the IMF's adherence to austerity, despite evidence of its detrimental effects. Chikumbutso Ngosi from ActionAid emphasized the need for systemic solutions to debt and public service expenditure, resisting austerity and privatization, and overhauling the global financial architecture. The organization also points out the structural under-representation of African countries in decision-making at the World Bank and IMF, rooted in a colonial legacy.

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International Monetary Fund (IMF) World Bank ActionAid

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Left

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Nicole Kolster is a multimedia journalist based in Caracas- Venezuela, who has reported for top news stations throughout North and South America. She has 14 years of experience in Venezuela producing and reporting on politics, the economy and social matters, both for breaking news and features.

...

Blood, sweat, and tears: Javier Milei brings the far-right to power in Argentina

09 Dec 2023  |  www.vozdeamerica.com  |  Spanish  |  Political Change

Javier Milei, a far-right politician and self-described anarcho-capitalist, assumes the presidency of Argentina with a promise to make deep public spending cuts to address a severe economic crisis. Facing an annual inflation rate of 143% and a poverty rate around 40%, Milei plans to implement a 'shock therapy' approach, including privatizations and significant reductions in public spending. Despite his radical campaign promises, such as dismantling the Central Bank and dollarizing the economy, some of his proposals have been moderated. Milei's political party, La Libertad Avanza, holds a minority in Congress, and he will face opposition from the outgoing Peronist party, now the largest force in opposition. The International Monetary Fund has emphasized the need for a strong and politically supported stabilization plan for Argentina.

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International Monetary Fund (IMF) La Libertad Avanza

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Stephan Kueffner is a freelance journalist based in Quito, Ecuador.

Ecuador Bonds Rebound Thanks to $4 Billion Loan Agreement with the IMF

25 Apr 2024  |  Bloomberg Línea  |  Spanish  |  International Relations

Ecuador's bonds led a rebound among emerging market peers following a technical agreement with the IMF for a four-year loan of approximately $4 billion. The 2030 bonds rose to their highest level since June 2022. This agreement aims to help Ecuador keep up with its $16 billion in outstanding bonds and follows a successful previous $7.5 billion IMF deal. President Daniel Noboa, who took office after Guillermo Lasso dissolved parliament, has been dealing with public spending control, oil production, and internal conflicts with drug traffickers. Despite these challenges, bonds have performed well, and Noboa's market-friendly policies have boosted his popularity and fiscal deficit reduction commitments.

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International Monetary Fund (IMF) Seaport Global

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I’m Anh Le, I have more than 10 years experience in video production. Let me support you.
I am willing to participate in nonprofit projects for the community.

Financial Impacts of Foreign Digital Money

06 Dec 2023  |  www.imf.org  |  English  |  Financial Policy

A two-country New Keynesian model with endogenous currency substitution and financial frictions is developed to examine the impact of a stablecoin issued in a large foreign economy on a small developing economy. The introduction of the stablecoin amplifies currency substitution, reduces bank intermediation, weakens monetary policy transmission, worsens the impacts of recessionary shocks, and increases banking sector stress. Capital controls can inadvertently raise stablecoin adoption, increasing exposure to foreign shocks. Unlike a domestic CBDC, banning stablecoin payments can mitigate these negative effects.

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International Monetary Fund (IMF)

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Andrew Mambondiyani is a journalist based in Mutare, Zimbabwe with more than 10 years journalism and media consultancy experience. Between 2010 and 2011 he served as a Knight Science Journalism Fellow at Massachusetts institute of Technology (USA).   In 2008 he served as a Middlebury Environment ...

Between Flood and Famine

08 Oct 2024  |  Strange Matters - Strange Matters Magazine  |  English  |  Natural Disasters

Mozambique faces severe climate challenges, including cyclones, floods, and droughts, exacerbated by financial constraints and historical debt scandals. Despite limited contributions to global emissions, the country is highly vulnerable to climate disasters. Efforts to build resilience, such as the Beira Master Plan and mangrove reforestation, are underway but hindered by financial and technical limitations. The country's economic reliance on coal and natural gas exports complicates its transition to a low-carbon economy. International aid, particularly from the US, plays a crucial role, but geopolitical interests may influence support. The upcoming presidential elections could impact future climate resilience funding priorities.

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International Monetary Fund (IMF) Mozambique National Resistance (RENAMO) Front for the Liberation of Mozambique (FRELIMO) World Bank United Nations Human Settlements Programme (UN-Habitat)

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Kent Mensah has 18 years of experience as a journalist. He is the Ghana correspondent for AFP and Thompson Reuters Foundation (Context). He strings for VOA and a contributor for The Africa Report. His bylines are in several international outlets including Al Jazeera English, The Guardian (UK), The ...

Ghana's finance ministry warns anti-LGBTQ+ bill could cost country $3.8bn in World Bank funds

05 Mar 2024  |  www.intellinews.com  |  English  |  Legislation

Ghana's Ministry of Finance has warned President Nana Akufo-Addo of the financial risks associated with an anti-LGBTQ+ bill, including a potential $3.8bn loss in World Bank funding. The bill, which has been approved by lawmakers and includes harsh jail sentences for LGBTQ+ individuals, has been met with international criticism. Uganda's experience with similar legislation resulted in being removed from a US trade pact and a halt in World Bank financing. Ghana, currently under a $3bn IMF loan program, could face economic instability if the bill leads to the loss of World Bank support.

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International Monetary Fund (IMF) Ghana's Ministry of Finance World Bank

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Gustavo Ocando Alex is an experienced journalist and newspaper editor based in Maracaibo, western Venezuela. He currently develops his journalist career as a freelancer for Voice of America, BBC Mundo, The Miami Herald (USA), NPR (USA), Armando.Info (Caracas, Venezuela) and has collaborated with ...

Jing Ren is a video journalist based in Los Angeles,United States of America. Good at storytelling,creating and shooting all kinds of topics that can go viral in news, and documentary films.

The Week Ahead – Global Pause

03 Nov 2023  |  xyforex.com  |  English  |  Economic Indicators

The euro shows signs of recovery as the European Central Bank's aggressive rate hikes appear to be curbing inflation, potentially avoiding a recession. The Australian dollar is stable with expectations of further rate hikes by the Reserve Bank of Australia amid high inflation and a robust economy. Oil prices are consolidating, supported by a pause in global monetary tightening and supply-side factors. The S&P 500 rallies on investor optimism that the Federal Reserve may have reached the peak rate, as indicated by Fed Chair Jerome Powell's cautious remarks.

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International Monetary Fund (IMF) European Central Bank (ECB) Federal Reserve (Fed) Reserve Bank of Australia (RBA)

Salman Siddiqui is an experienced journalist based in Berlin, Germany.

As an experienced English news/content editor, writer, and podcaster, he has over a decade of experience in the journalism industry. He lived and worked in various countries including Germany, Turkey, Cyprus, Qatar, Pakistan ...

SLG first logistics company to list on PSX

26 Mar 2024  |  The Express Tribune  |  English  |  Initial Public Offering

Secure Logistics Group (SLG) is set to become the first logistics company listed on the Pakistan Stock Exchange (PSX), offering 50 million shares at a floor price of Rs12 each to raise a minimum of Rs600 million. The IPO aims to deleverage the company's balance sheet, advance technological infrastructure, expand into regional markets, and improve fleet efficiencies. SLG has a nationwide presence in Pakistan, serving 125 corporate clients, and anticipates a 28% revenue growth in 2024. The IPO was advised by Arif Habib Limited and attracted pre-IPO equity from Saudi Bugshan and Karandaaz Pakistan.

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International Monetary Fund (IMF) Pakistan Stock Exchange (PSX)

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Derrick Silimina is a journalist based in Lusaka, Zambia.

ZACCI nods landmark debt restructuring agreement

27 Mar 2024  |  solwezitoday.com  |  English  |  Debt Restructuring

The Zambia Chamber of Commerce and Industry (ZACCI) has commended the government for successfully restructuring transactions related to bonds due in 2022, 2024, and 2027. ZACCI President Anthony Kabaghe highlighted that the restructuring will lead to significant debt relief, with $840 million in claims being foregone and $2.5 billion in cash flow relief during the IMF Programme period. The deal is expected to stabilize the exchange rate, boost market confidence, and encourage economic growth through planned investment strategies. Improved credit ratings and access to external financing are also anticipated. The agreement allows for increased government spending on social sectors, potentially enhancing living standards. ZACCI advises the government to focus on making Zambia an export-oriented country to ensure long-term economic stability and growth.

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International Monetary Fund (IMF) Zambia Chamber of Commerce and Industry (ZACCI)

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Murtaza Solangi is print/radio/TV journalist based in Islamabad, Pakistan.

31 State-Owned Commercial Firms Suffered Rs730b In Losses To National Exchequer

02 Jan 2024  |  thefridaytimes.com  |  English  |  Financial Losses

In Pakistan, 31 state-owned commercial companies incurred losses totaling Rs730 billion in the financial year, with the National Highway Authority leading with a loss of Rs168.5 billion. The Ministry of Finance released this information to comply with IMF conditions. The report assessed 133 SOEs, revealing that while 50 institutions profited Rs560 billion, the losses from the remaining 31 overshadowed these gains. The Peshawar Electric Supply Company and Pakistan International Airlines were also significant loss-makers. The Ministry of Privatization has been criticized for not addressing urgent issues in the power sector.

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International Monetary Fund (IMF) National Highway Authority (NHA) Ministry of Finance Pakistan Steel Mills (PSM) Ministry of Privatization

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Brazilian journalist based in Curitiba with more than 15 years of experience covering science and technology, environmental, economic and political issues.

Central Bank's monetary policy gives credibility to Brazil, says chief economist of European bank

01 Nov 2023  |  www.gazetadopovo.com.br  |  Portuguese  |  International Investment

Alex Fusté, chief global economist of Andbank, praises Brazil's monetary policy for its credibility and positive real interest rates, which have attracted significant capital flows, especially in 2022 and early 2023. He notes the importance of fiscal discipline and is cautiously optimistic about Brazil's fiscal reforms, emphasizing the need for evidence of continued control. Fusté criticizes Argentina's economic policy and expresses concern over the potential election of current Economy Minister Sergio Massa. He also discusses the impact of the Middle East conflict on global energy prices and the role of the United States and China in mediating tensions.

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International Monetary Fund (IMF) Banco Central do Brasil Government of Luiz Inácio Lula da Silva

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I’m an independent multimedia journalist based in Nairobi, Kenya, covering East Africa. I am a regular contributor to the Voice of America, Al Jazeera English online and other International outlets. I specialize in covering security and politics in the region.

IMF Warns Africa of Economic Vulnerabilities As China's Economy Slows

25 Oct 2023  |  allafrica.com  |  English  |  International Trade

The International Monetary Fund warns African nations of potential economic downturns due to China's slowing economy. China, Africa's largest trading partner, faces economic challenges from a slowing property market, weak consumer spending, and the aftermath of COVID-19 restrictions. These issues threaten the trade relationship, impacting the export of African metals, minerals, and fuel, and the import of Chinese manufactured goods and machinery. Kenyan businessman Adan Ibrahim notes increased prices and difficulties in trade due to China's COVID-19 regulations. International economics lecturer Gerrishon Ikiara suggests Africa diversify its trading partners. The IMF advises African governments to diversify economies, increase regional trade, and improve the business environment.

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International Monetary Fund (IMF)

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