Death of Horst Koehler, Former German President and IMF Head

Horst Koehler, former German president and head of the International Monetary Fund, has died at the age of 81. He was known for his outsider approach to politics and his focus on economic reforms and financial markets. He resigned abruptly after a controversy over comments about military deployments. He was praised for his attention to Africa and relations with Poland.

Lebanon's Presidential Election

Lebanon's parliament to elect new president after more than two years of vacuum. Leading candidate is Lebanese army commander Joseph Aoun, backed by the U.S. and Saudi Arabia. Frangieh withdrew from the race. Lebanon faces challenges including economic crisis and reconstruction post Israel-Hezbollah war.

El Salvador's Bitcoin Portfolio

President of El Salvador Nayib Bukele shared the country's Bitcoin portfolio, showing over $573 million worth of bitcoin and a 113.84% profit. El Salvador adopted bitcoin as legal tender in 2021, investing $268 million in bitcoin. Bukele's bitcoin policies have faced criticism from international organizations like the IMF.

Poverty in Lebanon

Poverty in Lebanon tripled over a decade due to a financial crisis, with stark differences between regions and Lebanese citizens and Syrian refugees. World Bank report shows 73% of Lebanese and 100% of non-Lebanese residents qualify as poor under multidimensional poverty metric.

Global Debt Crisis

The world economy is facing a significant debt crisis due to multiple economic shocks, with countries like the US and China projected to have dangerously high levels of debt. High levels of debt pose a threat to future economic stability and growth.

US Fiscal Policy Criticized by IMF

The International Monetary Fund criticized US policymakers for their unsustainable fiscal policy, warning that overspending could lead to inflation and global financial instability. The US deficit spending has been driven by Covid-related stimulus, infrastructure investments, and rising interest costs.

Saudi Arabia's Economic Aid to Pakistan

Saudi Arabia's foreign minister visits Pakistan to help overcome economic crisis, with talks of investing $5 billion in the country. Pakistan is also in discussions with the IMF for a bailout.

International Monetary Fund talks with Pakistan's government for bailout

The International Monetary Fund is holding talks with Pakistan's government to determine if it has met conditions for receiving the final $1.1 billion tranche of a $3 billion bailout. Pakistan may seek a new bailout of up to $8 billion. The country needs the funds to overcome a severe economic crisis.

Egypt's Sale of Mediterranean Resort Real Estate and IMF Support Package

Egypt plans to balance its national budget by selling Mediterranean resort real estate to Abu Dhabi and receiving a support package from the IMF, despite the loss of Suez Canal revenue due to attacks by Iran-backed Houthi terrorists. The $24 billion Ras al-Hikma deal will play a significant role in boosting the economy.

Argentine President Javier Milei's proposed bill to punish Central Bank officials for financing fiscal deficits

Argentine President Javier Milei plans to present a bill to Congress to punish Central Bank officials who issue money to finance fiscal deficits with jail time. The bill aims to define seigniorage as a criminal offense.