• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Banking & Finance

IMF Announces Historic Lending Reforms Amid Growth Concerns

9 months ago
in Banking & Finance, Business, Cryptocurrency, Economy, Editor's pick, Features, Tech-guide, Technology
2 min read
0 0
0
69
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

IMF Announces Historic Lending Reforms Amid Growth Concerns

The International Monetary Fund unveiled sweeping reforms to its lending practices yesterday, marking the most significant overhaul of its financial support framework in recent history, even as it cautioned about persistent global growth challenges.

In a landmark announcement at the IMF’s annual meetings in Washington, Managing Director Kristalina Georgieva revealed a 36% reduction in the Fund’s charges and surcharges, a move that will slash borrowing costs by $1.2 billion annually for member countries.

“For the first time in our history, we have not only reached our precautionary balances target of $30 billion but have also implemented comprehensive reforms to make our lending more accessible and affordable,” Georgieva said.

The reforms come at a critical time, with the Fund actively supporting an unprecedented 97 countries through various lending programs since the pandemic. A key component of the new package includes an $8 billion boost in subsidy resources for the Poverty Reduction and Growth Trust (PRGT) over the next five years, more than doubling its annual lending capacity to $3.6 billion.

But the fund has warned that the global economy risks becoming trapped in a low-growth, high-debt cycle, despite making progress on inflation and showing resilience in the face of multiple crises.

Managing Director Kristalina Georgieva painted a picture of an economy at a critical juncture: while a “soft landing” appears achievable, the medium-term outlook remains concerningly weak.

RelatedPosts

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

“The global economy is holding up remarkably well, but we’re seeing the lowest medium-term growth outlook in decades,” Georgieva said. The Fund projects global growth of 3.2% this year, declining to 3.1% over the next five years.

Perhaps most alarming is the Fund’s projection that global public debt will surpass $100 trillion this year – an unprecedented 93% of global GDP – and approach 100% by 2030. This mounting debt burden threatens to constrain governments’ ability to address critical challenges, including climate change and social investment.

The IMF’s latest Global Policy Agenda outlines a two-pronged strategy: securing the soft landing while breaking free from the low-growth, high-debt trajectory. Central to this approach is the careful management of monetary policy, with major central banks, including the US Federal Reserve, beginning to ease rates.

“The trick now is to finish the job on inflation without unnecessarily damaging the job market,” Georgieva emphasised. She called for immediate action on fiscal consolidation, arguing that while the adjustment can be gradual in most countries, “it needs to start now.”

The Fund’s prescription includes ambitious structural reforms, which it estimates could boost output by up to 8% over four years in developing economies. These reforms range from reducing bureaucratic obstacles to improving governance.

The Fund’s expanding role in climate finance was highlighted by the growing uptake of its Resilience and Sustainability Facility, with 20 countries now accessing support for climate resilience initiatives – double the number from a year ago.

Against the backdrop of ongoing conflicts in Ukraine and the Middle East, Georgieva opened her remarks with an acknowledgment of global turbulence, expressing particular concern for those in conflict zones and the journalists covering these events.

Quoting Antoine de Saint-Exupéry, Georgieva concluded that the task ahead is not merely to foresee the future but to enable it. With the global economy at a crucial inflection point, the success of this mission has rarely seemed more critical.

Tags: IMF Announces Historic Lending Reforms Amid Growth ConcernsManaging Director Kristalina Georgieva

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

Banking Sector Soundness Remains Robust in 2024 Amid Strong Profitability, Adequate Capital Buffers

Sha’Carri Richardson Withdraws from US Trials Following Arrest

From Singuluma to El Kaabi: Can CHAN 2024 Unleash the Next Hat-trick Hero?

Ghana to Welcome King’s Baton Relay on August 8 Ahead of 2026 Commonwealth Games

Trending

Features

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

August 2, 2025

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes Parliament has adjourned...

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

August 2, 2025

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

August 2, 2025

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

August 2, 2025
Bank of Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

August 2, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.