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Pakistan's subsidies benefit 10M low-income people as war drives up fuel prices

Pakistan's subsidies benefit 10M low-income people as war drives up fuel prices

Pakistan has provided fuel subsidies to more than 10 million low-income people, according to Prime Minister Shehbaz Sharif, who pledged continued relief as the U.S.-Iran war drives up energy costs and strains household budgets
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Nearly 30 years after IMF rescue, Thailand faces new economic test

Nearly 30 years after IMF rescue, Thailand faces new economic test

By Devjyot Ghoshal BANGKOK, Oct 9 (Reuters) - Ekniti Nitithanprapas was a young graduate student in the United States when Thailand devalued the baht in 1997, setting off the Asian financial crisis.
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Bolivia to Host Global Meeting on Landlocked Countries' Stake in Ocean Governance

Bolivia to Host Global Meeting on Landlocked Countries' Stake in Ocean Governance

The Plurinational State of Bolivia, in partnership with the International Seabed Authority (ISA) and the United Nations Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States, will host a global workshop in Santa Cruz de la Sierra from October 13 to 15, 2026. This meeting will focus on the participation of landlocked developing countries (LLDCs) in international seabed governance under the United Nations Convention on the Law of the Sea (UNCLOS). The workshop aims to examine the rights and opportunities available to LLDCs, including their involvement in the regime of the Area, access to knowledge and training, scientific cooperation, technology transfer, and future benefit-sharing. Representatives from 18 LLDCs across Africa, Asia, and Latin America are expected to attend, alongside members of the ISA Finance Committee and experts in international law, mineral governance, and marine science. The event will also support the imp...
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Thailand prepares to host IMF-World Bank meetings

Thailand prepares to host IMF-World Bank meetings

BANGKOK, Oct 10 (Reuters) - Thailand is preparing to host the IMF–World Bank Annual Meetings in Bangkok from October 12–18, bringing together more than 15,000 participants from 191 countries, including central bank governors, economic policymakers and business leaders, for discussions on the world
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US Treasury's Bessent to skip IMF-World Bank meetings in Bangkok

US Treasury's Bessent to skip IMF-World Bank meetings in Bangkok

By Andrea Shalal DOHA, Oct 9 (Reuters) - US Treasury Secretary Scott Bessent will skip next week's annual meetings of the IMF and World Bank in Bangkok, Thailand, due to domestic engagements, a US official said on Friday. 
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Middle East war, high debt levels to dominate IMF-World Bank meetings in Bangkok

Middle East war, high debt levels to dominate IMF-World Bank meetings in Bangkok

By Andrea Shalal BANGKOK, Oct 11 (Reuters) - Finance officials from around the world will gather in Thailand this week under the shadow of a widening war in the Middle East, the biggest energy supply shock ever and rising interest rates that together pose daunting risks to already-sluggish global
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Colombia faces hurdles to meet IMF commitments under possible lending deal

Colombia faces hurdles to meet IMF commitments under possible lending deal

By Nelson Bocanegra BOGOTA, Oct 8 (Reuters) - Colombia would face major hurdles in meeting any commitments it makes under a prospective agreement with the International Monetary Fund, from which it is seeking billions of dollars amid a fiscal crisis, according to current and former officials and
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Brazil's Flavio Bolsonaro vows to keep pension increases above inflation rate

Brazil's Flavio Bolsonaro vows to keep pension increases above inflation rate

SAO PAULO, Oct 8 (Reuters) - Brazilian presidential candidate Flavio Bolsonaro said on Thursday that, if elected in a runoff vote later this month, he would continue raising pensions above the rate of inflation.
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Malawi Fuel Shortage Doubles Bus Fares Amidst US Dollar Scarcity

Malawi Fuel Shortage Doubles Bus Fares Amidst US Dollar Scarcity

Malawi is currently experiencing a severe fuel shortage, leading to a significant increase in transport costs, with some minibus fares doubling. Diesel has been scarce for approximately three weeks, followed by a shortage of petrol. This has resulted in a thriving black market where fuel is sold at about three and a half times the official petrol price. The shortage is widespread, affecting major cities like Lilongwe, Blantyre, Mzuzu, and the northern road from Karonga. According to Happy Jere, chairman of the Fuel Retailers Association of Malawi, urban filling stations receive only about 30% of their normal diesel supply, while remote stations receive none. The primary cause of this crisis is Malawi's reliance on fuel imports, which are paid for mainly in US dollars, a currency that has been in short supply for months. The Malawi Energy Regulatory Authority (MERA) has maintained official pump prices, but the black market prices are substantially higher. For instance, petrol officially costs K5,619 (approx...
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China has no need or intention to weaken yuan for trade edge, central bank says

China has no need or intention to weaken yuan for trade edge, central bank says

BEIJING, Oct 8 (Reuters) - China has no need or intention to use yuan depreciation for a trade competitive advantage and has never engaged in competitive currency devaluation, the central bank said, rejecting criticisms from western trading partners including the EU.
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Anabel González Appointed Vice President for Countries and Regional Integration at IDB

Anabel González Appointed Vice President for Countries and Regional Integration at IDB

Anabel González has been appointed as the Vice President for Countries and Regional Integration at the Inter-American Development Bank (IDB), with her tenure beginning on September 1, 2023. González brings over 30 years of experience in economic development, specializing in trade, investment, competitiveness, and the private sector. Her extensive career includes roles in international organizations, the public sector, consulting, and research. Prior to joining the IDB, she served as Deputy Director-General at the World Trade Organization (WTO) from June 2021 to August 2023, where she facilitated trade negotiations and oversaw divisions related to economic research, market access, services trade and investment, and intellectual property. She also held positions as a Nonresident Senior Fellow at the Peterson Institute for International Economics and as Senior Director of the World Bank’s Global Practice on Trade & Competitiveness. In her public sector experience, González served as Costa Rica's Minister of T...
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IMF Warns of Global Economic Challenges from AI, Energy, and Debt

IMF Warns of Global Economic Challenges from AI, Energy, and Debt

IMF Warns of Global Economic Challenges from AI, Energy, and Debt