El Salvador became the first country in the world to adopt bitcoin as legal tender, a real-world experiment proponents say will lower commission costs for billions of dollars sent home from abroad but which critics warned may fuel money laundering.
Developing countries stand to benefit from up to $10 billion in savings after the G20 group of wealthy nations announced on Wednesday (7 April) that it would extend its debt service suspension initiative (DSSI) which launched last May until the end of this year.
EU states are set to be among the main beneficiaries next week when international leaders are set to authorise up to $650bn of new ‘Special Drawing Rights’ to help countries badly hit by the Covid pandemic.at the International Monetary Fund’s spring meeting on 5 April.
The former managing director of the International Monetary Fund, Rodrigo Rato, is facing fresh allegations from Spanish anti-corruption prosecutors, including alleged tax fraud, corruption, and document falsification, EURACTIV’s partner EFE reports.
Ukrainian President Volodymyr Zelenskiy warned on Monday (2 November) that foreign aid loans and a visa-free deal with the European Union were under threat if parliament did not restore anti-corruption reforms, saying the country could slide into "bloody chaos".
President Volodymyr Zelenskiy on Tuesday (27 October) promised to keep Ukraine's fight against corruption on track after two separate rulings by the constitutional court threatened to derail reforms needed under a $5 billion International Monetary Fund deal.
The managing director of the International Monetary Fund, Kristalina Georgieva, congratulated the EU for stepping up its collective response to the COVID-19 crisis with the proposed €750 billion recovery fund, but cautioned that the proposal will first have to survive “long nights of negotiations".
European Central Bank chief Christine Lagarde has responded to a recent German court ruling that challenged the bank's authority by saying the ECB is an independent institution, accountable to the European Parliament, that will continue to do whatever it takes to deliver its mandate.
Boris Johnson’s government doubled-down on Thursday (16 April) on its threat to walk away from the EU Single Market this year if a deal on a successor trade pact cannot be reached. It hinted that trading with the EU on World Trade Organisation terms would give the UK more ‘flexibility’ to manage the economic fallout from the coronavirus pandemic.
The G20 group of leading economies agreed on Wednesday (15 April) to suspend debt payments owed to them by some of the world's poorest countries in a bid to cushion the economic impact of the coronavirus pandemic.
The International Monetary Fund (IMF) said on Wednesday (15 April) it was ready to provide Georgia with increased funding of $450 million this year to help the ex-Soviet country in its fight against the coronavirus and support the economy.
World powers scrambled on Thursday (9 April) to build a global response to the human tragedy and once-in-a-century economic collapse caused by the coronavirus epidemic, as the worldwide death toll topped 90,000.
Ukrainian lawmakers voted on Tuesday (31 March) to lift a ban on the sale of farmland that has stood for nearly two decades, clearing one of the hurdles needed to unlock an $8 billion loan package from the International Monetary Fund.
Leaders of the Group of 20 major economies pledged on Thursday (26 March) to inject over $5 trillion into the global economy to limit job and income losses from the coronavirus and "do whatever it takes to overcome the pandemic."
The EU backs Iran and Venezuela in their requests for emergency funding from the International Monetary Fund (IMF) to help them fight the coronavirus outbreak, EU foreign affairs chief Josep Borrell said on Monday (23 March).
The International Monetary Fund called on governments worldwide Monday (9 March) to join forces and roll out aggressive financial supports for the coronavirus-infected global economy, including direct payments to workers and businesses.
Fears mounted on Monday (24 February) that the coronavirus outbreak in China will grow into a pandemic with disruptive and deadly consequences for countries around the world, after sharp rises in infections in South Korea, Italy and Iran.
EU foreign affairs chief Josep Borrell said on Tuesday (28 January) he intends to visit Ukraine in the coming weeks, including the disputed region of Donbas which is under the control of pro-Russia separatists.
The monetary stimulus has been one of the main engines of growth over the past years, but continuing with the supply of 'cheap money' could hurt low-income countries, fuel risky investments and affect savers, warned the IMF on Friday (24 January).
Welcome to Davos where the 50th edition of the World Economic Forum (WEF) is taking place on 21-25 January. Throughout the week, EURACTIV gives you a glimpse into one of the world’s most exclusive conferences where political and business leaders meet every year to discuss global economic trends.
As monetary policy nears its limits to lift the world's sluggish economy, the International Monetary Fund told governments on Tuesday (21 January) to introduce "more automatism" in their fiscal rules in order to counter the economic slowdown.
Welcome to Davos where the 50th edition of the World Economic Forum (WEF) is taking place on 21-25 January. Throughout the week, EURACTIV gives you a glimpse into one of the world's most exclusive conferences where political and business leaders meet every year to discuss global economic trends.
Some “tentative signs of stabilisation” are appearing in the global economy, but despite the positive news the EU-US trade dispute represents a risk to the global output, the IMF warned on Tuesday (20 January).