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Kazakhstan to launch customs monitoring to avoid circumventing Russia sanctions
patrickn97
Fri, 03/24/2023 - 11:15
IMF reach staff-level agreement to give Ukraine $15.6bn loan
Kazakhstan has announced that it will launch an online system that will track all goods crossing its borders from 1 April in an attempt to demonstrate that it is complying with Western sanctions on Russia.
On Tuesday (21 March) the International Monetary Fund (IMF) located in Washington D.C. announced that it had reached a staff-level agreement with Ukraine for a 48-month financing package worth about $15.6 billion. The BBC also reports that it is the first loan that the organisation has granted to a country at war. In a statement, the IMF announced that the Extended Fund Facility (EFF) "aims to support the Ukrainian authorities anchor policies that sustain fiscal, external, price and financial stability, and support the ongoing gradual economic recovery, while promoting long-term growth in the context of post-war reconstruction and Ukraine’s path to EU accession". The agreement must however still be ratified by the IMF's board, and follows months of negotiations between IMF staff and Ukrainian authorities. The executive board of the IMF is expected to discuss approval in the coming weeks.
patrickn97
Wed, 03/22/2023 - 07:18
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Opinion: A resumption of the Iran nuclear deal is also good for Armenia
3 April 2022
Reports from Vienna suggest that Iran and the world powers are close to agreeing on restoring the Iran Nuclear Deal. For a moment it appeared that the negotiations were going to get entangled in the current Ukraine crisis, but it appears that Iran has dissuaded Russia from doing so. In this op-ed for commonspace.eu Benyamin Poghosyan says a deal would be good for neighbouring countries like Armenia who are keen to exploit trade opportunities with Iran.
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IMF Head warns of economic impact of Ukraine Crisis on Africa
11 March 2022
African economies are particularly vulnerable to the impacts of war in Ukraine, says IMF Chief Kristalina Georgieva. The remarks come two weeks after the Russian invasion of Ukraine sent financial markets into steady decline, leaving African economies with high food and fuel prices.
“The war and the unprecedented sanctions imposed on Russia are having far-reaching consequences. They come at a delicate time for Africa.”, she stated at a closed virtual press briefing on Thursday.