International Monetary Fund
-
Main Slide
Sri Lanka Set to Exit IMF Agreement as President Dissanayake Rejects Austerity; Economists Warn of Severe Risks
By Leo Nirosha DarshanCOLOMBO — Sri Lanka is preparing to pull out of its agreement with the International Monetary Fund (IMF) when the current Extended Fund Facility (EFF) program period concludes in March. The decision follows President Anura Kumara Dissanayake’s firm rejection of new austerity measures proposed by the Washington-based…
Read More » -
East Asia
S. Korea eyes extra budget of less than 7 tln won: finance minister
South Korea’s finance minister said Wednesday he expects to introduce a supplementary budget worth less than 7 trillion won (US$6.1 billion) to boost domestic demand and create jobs. Finance Minister Hong Nam-ki told reporters that the size of the extra budget has not been confirmed yet, but he expects that…
Read More » -
East Asia
IMF team voices concerns about pace of S. Korea’s minimum wage hikes
A team from the International Monetary Fund (IMF) on Monday expressed concerns over the pace of minimum wage hikes in South Korea, the Ministry of Economy and Finance said. The delegation led by Tarhan Feyzioglu, Korea mission chief at the IMF, shared the concerns in a meeting with Finance Minister…
Read More » -
East Asia
“Young, old generations do not understand each other”
Complaints and conflicts are piling up between the young and old as Korea is rapidly becoming an aging society, which leaves the young working class with a heavier economic burden to take care of elderly citizens. “The rapidly ageing population and low birthrate have put our society at risk, inevitably…
Read More »