Despite the missed payment, its creditors have agreed to extend negotiations on restructuring $66 billion in foreign debt.
Tag: International Monetary Fund
Ukraine Passes a Critical Anticorruption Bill
The Parliament approved a measure to stop insiders from siphoning aid money, but other forms of fraud persist.
Argentina Teeters on Default, Again, as Pandemic Guts Economy
Even before the coronavirus deepened Argentina’s recession, the country was on track to default on $66 billion in debt.
I.M.F. Predicts Worst Downturn Since the Great Depression
The global economy is expected to contract by 3 percent this year as quarantines and lockdowns cripple output.
Autocrats’ Quandary: You Can’t Arrest a Virus
The world’s strongmen are reverting to their standard playbook to project an aura of control. It’s a risky strategy for a chaotic crisis.
Iran, Devastated by Coronavirus, Says U.S. Sanctions Are Taking Lives
Iran, devastated by the coronavirus, is asking the U.S. to lift sanctions on humanitarian grounds. U.S. officials say sanctions aren’t to blame; Iran is.
Oil Prices Crash, Virus Hits, Commerce Stops: Iraq Is in Trouble.
Iraq depends on oil revenues, which have plummeted. The country is so desperate it is asking for donations to help it weather the pandemic.
Lebanon Will Default on Foreign Debt Payment Amid Deepening Economic Crisis
The decision will appease protesters who have clamored for the government to prioritize domestic concerns. But it does little to solve the nation’s financial woes.
Ukrainian Political Shake-up Involves Figures in U.S. Impeachment
A personnel shuffle by President Volodymyr Zelensky could be felt in United States politics, but appears to stem from a domestic dispute between the government and a controversial oligarch.
Ukraine’s President Said He’d Fight Corruption. Resistance Is Fierce.
For Volodymyr Zelensky, taking on the oligarchs and organized crime is a domestic test with geopolitical consequences.