International Monetary Fund

International financial institution

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October 21 2024	Liechtenstein became the 191st member of the IMF.
September 2024	IMF's executive board approved a $7 billion loan for Pakistan, to be received in installments over 37 months.
July 2024	Pakistan reached a staff-level agreement for a new $7 billion loan with IMF.
June 12 2024	Milei successfully pushes through two liberal economic reform bills in the senate, aiming to attract foreign investment.
January 2024	Milei delivers a speech at the World Economic Forum, arguing that economic challenges stem from 'radical feminism', 'Neo-Marxism', and departure from Neo-liberalism.
2023	The IMF predicts the UK's GDP will contract by 0.3%, potentially making it the worst-performing rich economy, but later suggests the UK is improving and may no longer require IMF assistance.
December 2023	Argentina experiences hyperinflation, reaching heights of 250% in December.
November 19 2023	Javier Milei wins the Argentine presidential election, defeating Sergio Massa and promising drastic changes to the nation's economic policy.
October 9 2023	Annual Meetings of the International Monetary Fund and the World Bank Group held in Marrakesh, Morocco, lasting from October 9 to 15
June 2023	IMF announced development of a platform for central bank digital currencies (CBDCs) to enable transactions between nations, with Managing Director Kristalina Georgieva warning that cryptocurrency could fill the gap if central banks fail to agree on a common platform.
June 30 2023	IMF and Pakistan reached a staff-level agreement for a $3 billion stand-by arrangement to prevent potential financial default.
April 2023	IMF launched the Universal Monetary Unit (Units), an international central bank digital currency through their Digital Currency Monetary Authority, designed to facilitate international banking and trade with SWIFT transaction capabilities.
March 20 2023	Sri Lanka entered a new EFF of 2,286,000 SDRs (approximately USD 3,000 million), fully drawn at 395%.
February 2023	The UK experiences a high inflation rate of 10.4%, exceeding inflation rates in the European Union and United States.
2022	The European Union withdrew the Everything But Arms (EBA) trade preferences from Cambodia due to concerns about human rights issues, ending the country's quota-free and tariff-free access to the EU market.
December 14 2022	Serbia officially becomes a member of the International Monetary Fund (IMF), with a quota of 654.8 million Special Drawing Rights (equivalent to $615.21 million) and 8,007 votes, representing 0.16% of the total vote share.
October 10 2022	Annual Meetings of the International Monetary Fund and the World Bank Group held in Washington, D.C., United States, lasting from October 10 to 16
May 2022	Sri Lanka defaulted on its debt for the first time in the country's history, marking a critical point in its economic crisis.
April 2022	Former President Gotabaya Rajapaksa sought a $3 Billion loan from the IMF to address the country's foreign exchange crisis.
March 2022	IMF published the 2021 Article IV consultation report, recommending fiscal policy reforms including increasing income tax and VAT rates, implementing cost-recovery energy pricing, and addressing economic challenges through structural adjustments.
March 5 2022	The International Monetary Fund (IMF) announced plans to forward Ukraine's request for $1.4 billion in emergency financial assistance to its board for approval in the upcoming week, in response to the ongoing Russian invasion of Ukraine.
January 24 2022	Pierre-Olivier Gourinchas was appointed as the new chief economist of the IMF.
January 21 2022	Gita Gopinath, an Indian-American economist, was appointed as the first deputy managing director of the IMF.
2021	Unemployment peaked at 3.3 percent during the pandemic, demonstrating the resilience of the Czech labor market.
2021	IMF directors conducted an Article IV Consultation, recommending the implementation of the Qualified Workers Program and streamlining administrative processes for employment and visa acquisition.
2021	IMF Article IV consultation highlighted concerns over rising inflation and increasing housing market prices, leading to policy recommendations addressing these economic challenges.
2021	CARTAC launched a new debt management program funded by the Government of Canada, providing dedicated resources for capacity building in debt management.
2021	IMF approved a US$1 billion loan to Uganda, an autocratic regime, despite protests from Ugandans in Washington, London, and South Africa.
2021	Continued criticism from Oxfam regarding IMF's austerity measures in low-income countries during the ongoing COVID-19 pandemic, highlighting potential negative impacts on healthcare spending.
2021	A study found that the IMF's surveillance activities have a substantial impact on sovereign debt, with greater effects in emerging economies compared to high-income economies.
December 2021	Elevated to First Deputy Managing Director of the IMF by Managing Director Kristalina Georgieva.
October 11 2021	Annual Meetings of the International Monetary Fund and the World Bank Group held virtually, lasting from October 11 to 17
June 2021	IMF approved another 30-month Policy Coordination Instrument (PCI) to accelerate structural and institutional reforms, sustain medium-term growth, and ensure inclusive economic recovery during pandemic uncertainty.
June 19 2021	The 2018 IMF Stand-By Arrangement with Argentina expired, concluding the borrowing period.
March 2021	Canada participated in a green budgeting webinar with Development Partners, the United Nations Development Program, and the IMF, analyzing Caribbean regional data.
March 2021	IMF conducted Article IV consultation for Sri Lanka, highlighting critically low foreign exchange reserves and warning about the country's rising current account deficit.
2020	During the Covid-19 pandemic, the Czech Republic experienced a short reopening period before facing additional challenges.
2020	Canada raised its main interest rate to 2.75% during the pandemic as a strategy to combat rising inflation, which had reached 7.7%. The Governing Council anticipated continued interest rate increases due to global economic conditions.
2020	Chrystia Freeland becomes the Minister of Finance representing Canada on the IMF Board of Governors.
2020	IMF adjusted PCI priorities to help Serbia mitigate financial spillover effects of the COVID-19 pandemic.
2020	The International Monetary Fund (IMF) provided 130 million dollars in direct emergency funding to Nicaragua in response to the COVID-19 pandemic and Hurricane Iota, aimed at supporting economic stability.
2020	Poverty rates in Nicaragua decreased to 32 percent at the start of the COVID-19 pandemic.
2020	Nicaragua resumed taking out loans after a period of eight years of debt-free economic management.
2020	A study was published examining the relationship between IMF lending and democratic stability, finding democracy as a potential precursor to economic stability.
2020	Oxfam criticized the IMF for imposing strict austerity measures on low-income countries during the COVID-19 pandemic, potentially hindering their healthcare response.
November 2020	A second wave of Covid-19 infections led to nationwide quarantine, mandatory testing, and the closure of schools and businesses.
June 2020	Japan contributed $10 billion to the COVID-19 Crisis Capacity Development Initiative (CCCDI), launched by IMF Managing Director Kristalina Georgieva to support emerging markets and developing countries during the COVID-19 pandemic.
June 10 2020	IMF's executive board approved an 18-month, $5 billion standby arrangement for Ukraine, with immediate disbursement of about $2 billion. Ukraine's parliament lifted the ban on farmland sales and approved a new banking law to qualify for the loan.
April 2020	Japan provided an additional US$100 million to the IMF's Catastrophe Containment and Relief Trust to help low-income countries recover from the COVID-19 pandemic crisis.
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See Also

Kristalina Georgieva

Gita Gopinath

Pierre-Olivier Gourinchas