Category: IMF
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El Salvador’s Bukele says Bitcoin buys will continue amid IMF pressure
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The President of El Salvador Naeb Bocley said his government will not stop buying bitcoin despite a new request from the International Monetary Fund to stop. The International Monetary Fund issued a new request on March 3 to obtain an extended ranking under its facilitation of $ 1.4 billion to…
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El Salvador’s Bitcoin Holdings Face IMF Regulation
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It appears that a newly unveiled deadline from the International Monetary Fund (IMF) is scheduled to oversee the supervision of Bitcoin Salvador during the next year and beyond. According to the information issued by journalist Ricardo Valb from El Faru, it was claimed that the administration of President Nayb agent…
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El Salvador Ignores IMF, Bolsters Crypto Holdings
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In a dramatic gesture strengthening its position on Bitcoin, El Salvador has purchased 11 Bitcoin for its national reserves, which now stand at 6,044 units. This step comes in the wake of an agreement with the International Monetary Fund worth $1.4 billion, the terms of which include reducing some related…
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The IMF Just Improved El Salvador’s Bitcoin Law
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Follow Aaron on our or X. International Monetary Fund yesterday Announce They reached a $1.4 billion loan deal with El Salvador. In contrast, the Central American country that introduced legal Bitcoin in 2021 has had to remove some of its pro-Bitcoin policies. I spent about three months in El Salvador…
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IMF, World Bank split on Kenya Power monopoly
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The IMF and World Bank have disagreed over the push to end Kenya Power’s monopoly on selling electricity to homes and businesses. The International Monetary Fund wants Kenya to speed up regulations that would allow other companies to sell power in competition with utilities, arguing that the country is behind…
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Tax pain signal in new Sh78bn IMF loan deal
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Kenyans are facing more tax pain after the International Monetary Fund (IMF) cited the need for higher revenues as a condition for its multi-billion dollar loan facility for the country. The International Monetary Fund says Kenya underperformed in terms of revenues in the year to June – the period before…
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IMF approves Sh78.3 billion loan to Kenya
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The Executive Board of the International Monetary Fund (IMF) has approved the disbursement of a 78.3 billion shillings ($606.1 million) loan to Kenya, opening the way for new financing for the country following a lengthy review of the program following the withdrawal of the 2024 Finance Bill. The disbursement, which…
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IMF slashes Israel growth forecast
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Israel’s post-war economic recovery will take longer than many in the country think, according to forecasts in the International Monetary Fund’s latest World Economic Outlook report. The International Monetary Fund expects real growth in Israel in 2024 at only 0.7%, which means a decline in per capita terms. In the…
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Kenya eyes Sh113bn mega IMF loan disbursement
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Kenya expects to receive Sh113 billion in the next tranche of loans from the International Monetary Fund (IMF) after making progress in protracted talks that delayed financing from the multilateral lender after new tax measures were rejected in June this year. National Treasury’s project estimates are Sh64.4 billion in disbursements…
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IMF urges Rachel Reeves to raise taxes and rein in spending to stabilise UK public finances
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The International Monetary Fund has called on Chancellor Rachel Reeves to introduce tax rises and tighten government spending in the next budget, warning that delaying such measures could worsen the UK’s fiscal problems. In a previously released section of the *Comptroller* report, the Washington-based organization highlighted the UK and US…
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Kenya eyes UAE-backed Sh193bn debt as IMF delays
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Kenya has turned to $1.5 billion (Sh193.8 billion) in UAE-backed bonds in the wake of faltering IMF financing to plug the country’s financing shortfall as UAE royals seek wider influence in Africa. . The UAE will guarantee the bonds while Kenya expands the scope of financing available after the withdrawal…
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Kenya, IMF fallout deepens as State firms’ sale blocked
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A Supreme Court ruling declaring the Privatization Act 2023 unconstitutional appears set to further complicate Kenya’s efforts to secure more than Sh77.5 billion in fresh funding from the International Monetary Fund. The IMF had partly linked the financing plan to a comprehensive overhaul of state-owned enterprises, including the sale and…
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IMF chief economist says Bank of Japan rate hikes a good development for Japan
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The Bank of Japan could continue to raise interest rates gradually at a “data-dependent” pace, IMF chief economist Pierre-Olivier Gourinchas told Reuters in an interview at the annual Jackson Hole Economic Symposium on Friday: Inflation is above the bank’s 2% target. Inflation expectations have started to move “perhaps even slightly…
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Bitcoin advocate rebuts IMF Report on crypto carbon emissions
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A recent IMF report claiming that carbon emissions from artificial intelligence and cryptocurrency use are rising has prompted a response from Bitcoin advocate Daniel Patten. the a report Regulators are being proposed to impose a “crypto-carbon” tax due to the alleged environmental impact of Bitcoin (BTC) mining. Butter argue The…
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Bitcoin advocate rebuts IMF Report on crypto carbon emissions
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A recent IMF report claiming that carbon emissions from artificial intelligence and cryptocurrency use are rising has prompted a response from Bitcoin advocate Daniel Patten. the a report Regulators are being proposed to impose a “crypto-carbon” tax due to the alleged environmental impact of Bitcoin (BTC) mining. Butter argue The…
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Deadly tax protests leave Kenya facing IMF fallout
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Parliament on Tuesday approved the controversial Finance Bill 2024, backing recommendations to withdraw some taxes, including taxes on bread, airtime and cars, which were part of a package of reforms Kenya agreed to implement in a deal with the International Monetary Fund. The vote on the amended revenue increase bill…
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Generative AI Set to Disrupt Jobs and Widen Inequality, IMF Warns
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The International Monetary Fund (IMF) has issued a stark warning about the profound labor market disruptions and inequality that AI could cause, urging governments to step up economic protectionism to protect their economies. In a recent report, the International Monetary Fund highlighted that advances in artificial intelligence technology could lead…
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Treasury fears trouble with IMF, debt risks
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The Treasury has intensified its pressure on Parliament to adopt punitive tax measures contained in the draft finance bill, saying it will help narrow Kenya’s budget deficit and reduce the desire to borrow. Principal Treasurer Chris Kipto said the higher taxes and new taxes proposed in the bill were needed…
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Why Kenya trimmed appetite for IMF debt
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Kenya has cut its planned borrowing from the International Monetary Fund by 7.2 percent to 465.4 billion shillings ($3.6 billion) after a partial repayment of its first eurobond spooked global investors. This comes weeks after the size of the country’s budget support from the World Bank was reduced by 20…