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Insane World

Sri Lanka cancels school exams for millions of students over paper and ink shortage

Sri Lanka has cancelled exams for millions of school students in the Western Province as the country ran out of printing paper, according to officials. Education authorities said the term tests, scheduled a week from Monday, were postponed indefinitely due to an acute paper shortage as Sri Lanka contends with its worst financial crisis since […]

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World

IMF approves $1.4 billion of emergency funding for Ukraine amid invasion by Russia

The International Monetary Fund (IMF) has approved $1.4 billion of emergency funding for Ukraine, as it fights against a Russian invasion. It comes as the IMF predicts Ukraine will see a deep recession this year. More than 2 million people are estimated to have left the country since the war started two weeks ago. Earlier […]

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World

Russia’s Invasion Of Ukraine: IMF, World Bank work on $3 billion aid package to Ukraine

The World Bank is working on a $3 billion package to aid Ukraine as it fights against a Russian invasion with the first $550 million to be approved soon. In a joint statement with the International Monetary Fund, the World Bank said it is preparing the package of support for the coming months, with the […]

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Business World

IMF urges El Salvador to strip Bitcoin legal tender status citing obstacle to get loan from the institution

The International Monetary Fund’s board urged El Salvador to strip Bitcoin of its status as legal currency due to its large risks, highlighting a major obstacle for the nation’s efforts to get a loan from the institution. El Salvador last year sought a $1.3 billion IMF loan, but talks have been stymied by the lender’s […]

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World

IMF suspends Afghanistan’s access to $440 million in funds over lack of clarity of government after Taliban takeover

The International Monetary Fund suspended Afghanistan’s access to IMF resources, including around $440 million in new monetary reserves, due to a lack of clarity over the country’s government after the Taliban seized control of Kabul. The IMF’s announcement came amid pressure from the United States Treasury, which holds a controlling share in the Fund, to […]

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Business

IMF announces $50 billion package to countries hit with coronavirus

The International Monetary Fund has announced $50bn (£39bn) of support for countries hit by the deadly coronavirus. The organisation also warned that the outbreak had already pushed this year’s global economic growth below last year’s levels. The emergency measure came after the virus has spread rapidly outside China to more than 70 countries. This week […]