International Monetary Fund (IMF)

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Sri Lanka’s new president faces a problem shared by too many developing countries: austerity imposed by the west | Ahilan Kadirgamar

Anura Kumara Dissanayake wants a better deal from the IMF to reduce suffering during the country’s punishing debt crisisSri Lanka is at a historic juncture. Faced with its worst economic crisis since the Great Depression and having defaulted on its ext…

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Break the cycle of debt and dependency that stunts developing countries’ growth | Letters

The Jubilee 2000 saw $130bn of debt written off, and yet we now find ourselves in a renewed global debt crisis, says Maria Finnerty of CafodThe Guardian is right to identify the global sovereign debt crisis as one of the most critical impediments to su…

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‘We’re playing Whac-A-Mole’: why the aid system is broken

Calls for drastic overhaul of funding as conflicts and climate crisis drive surge in humanitarian needs and appeals fall shortThe queue for water at Metche, a camp of 40,000 refugees on the Sudan-Chad border, starts at dawn and lasts until sunset. The …

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Pakistan’s fresh £580m loan from China intensifies debt burden fears

Loan is on top of £25bn that cash-strapped Islamabad already owes Beijing and Chinese commercial banksChina has agreed to loan Pakistan $700m (£580m) to help it weather its worst economic crisis in a generation, in a development that will intensify con…

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Sri Lanka is the first domino to fall in the face of a global debt crisis

The south Asian country is the first to buckle under economic pressures compounded by Russia’s war on Ukraine, but it won’t be the lastThe departure of Sri Lanka’s prime minister, Mahinda Rajapaksa, follows weeks of protest and a deepening crisis. Ther…

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Closer inspection of UK jobs market reveals economic scars of Covid | Larry Elliott

While the pandemic has not led to a jump in unemployment, its impact on the over-50s and public sector staff is particularly troublingAt first glance, the UK jobs market is in rude health. The unemployment rate is back to where it was before the Covid …

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The Taliban are not the only threat to Afghanistan. Aid cuts could undo 20 years of progress

The most vulnerable people will bear the cost of sanctions, as services and the economy collapseWatching Afghanistan’s unfolding trauma, I’ve thought a lot about Mumtaz Ahmed, a young teacher I met a few years ago. Her family fled Kabul during Taliban …

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Former world officials call on US to ease Iran sanctions to fight Covid-19

Group of former diplomats and ministers says shifting rules on medical trade could save hundreds of thousands of livesCoronavirus – latest updatesSee all our coronavirus coverageCoronavirus latest: at a glanceA group of 24 senior diplomats and defence …

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