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Argentina is seeking over 40% of a $20 billion program from the IMF, as announced by Economy Minister Luis Caputo. The government has eliminated the fiscal deficit and reduced public spending to strengthen central bank reserves and ease foreign exchange restrictions. Caputo noted that the request exceeds the typical first disbursement range of 20% to 30%, emphasizing that all necessary measures have been taken.
Zoltan Pozsar, a former Credit Suisse strategist, is now advising President Trump through his consulting firm, proposing innovative financial solutions like exchanging short-term US government bonds for hundred-year zero-coupon bonds. This strategy aims to enhance US financial flexibility while offering countries protection under the US nuclear umbrella. The approach could also address the debt ceiling issue, although it may have implications for countries holding US bonds, such as Switzerland.
The IMF has approved a $400 million disbursement for Ukraine as part of the Extended Fund Facility, bringing total funding to $10.1 billion out of a planned $15.6 billion over four years. Despite a resilient economy, challenges persist, with inflation exceeding expectations and a projected growth slowdown into 2025. External financing remains crucial as Ukraine faces ongoing economic pressures from the war.
Egypt's cabinet has approved a draft budget of EGP 4.6 trillion ($91 billion) for the 2025-26 fiscal year, aiming for tighter finances under an IMF program. The budget anticipates an 18% rise in expenditures and a 19% increase in revenues, resulting in a projected deficit of EGP 1.5 trillion ($30 billion). Key allocations include a 15.2% increase in subsidies and social benefits, with significant funding for commodities, bread, and energy support.
Since President Prabowo Subianto took office in October, Indonesia's stock market has declined, and the rupiah has reached its lowest point since the 1997-1998 financial crisis. Despite his promises to boost economic growth to 8%, investors are worried about the country's fiscal health and signs of democratic regression.
Goldman Sachs has reduced its growth forecast for Korea in 2025 by 0.3 percentage points, now projecting a 1.5 percent increase, following a similar cut by the OECD. The revision is largely due to anticipated U.S. tariffs on automobiles and semiconductors, which are expected to significantly impact Korea's exports.
El Salvador's bold move to adopt Bitcoin as legal tender has faced significant challenges, leading to a retreat under pressure from the IMF in exchange for a $1.4 billion loan. While the experiment aimed to enhance financial inclusion and reduce reliance on the U.S. dollar, it struggled with local adoption and volatility, ultimately highlighting the tension between financial sovereignty and global economic governance. As the country recalibrates its approach, it may still leverage blockchain innovation without making Bitcoin mandatory for daily transactions.
Kenya has sought a new lending programme from the International Monetary Fund after both parties agreed to end the ninth review of the current programme, which is set to expire next month. Finance Minister John Mbadi noted that approximately $800 million remains unutilized, prompting the request for a funded programme. The government is working to stabilize its finances amid rising debt-servicing costs.
Speculation arose that the IMF recognized Bitcoin as "digital gold" in its updated Balance of Payments Manual, sparking excitement among influencers and investors. However, experts clarify that this interpretation misreads the report, which categorizes Bitcoin as a nonfinancial asset and emphasizes its role in cross-border transactions without endorsing it as a monetary reserve. The IMF's guidelines aim to improve the classification and tracking of crypto assets, reflecting their economic impact rather than elevating Bitcoin to the status of gold.
The International Monetary Fund (IMF) has officially integrated Bitcoin and other digital assets into its global economic reporting framework, redefining their classification in international finance. Under the new Balance of Payments Manual, cryptocurrencies like Bitcoin are categorized as capital assets, while stablecoins are recognized as financial instruments. Additionally, certain cryptocurrencies may be viewed as equity-like assets, and staking rewards could be treated similarly to dividends, reflecting a significant shift in the perception of crypto's role in the global financial system.
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Argentina seeks over 40 percent disbursement from IMF amid fiscal reforms
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ARG
Luis Caputo
Clarence Fernandez
Eliana Raszewski
Stefanie Eschenbacher
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02:39 31.03.2025
Trump enlists economist Zoltan Pozsar for innovative US debt solutions
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International Monetary Fund FUND
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Credit Suisse Strategic Income I
Moody's Corporation
Swiss National Bank
DEU
CHE
HUN
USA
George Soros
Scott Bessent
Zoltan Pozsar
Donald Trump
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09:22 30.03.2025
IMF approves 400 million funding for Ukraine amid ongoing economic challenges
04:32 29.03.2025
Egypt unveils 91 billion dollar budget targeting financial reforms and deficit reduction
07:04 27.03.2025
indonesia's economic overhaul raises investor concerns and market instability
04:40 26.03.2025
Goldman Sachs lowers Korea's 2025 growth forecast amid tariff concerns
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03:14 26.03.2025
el salvador's bitcoin experiment a test of financial sovereignty and stability
09:33 25.03.2025
Kenya seeks new IMF lending program amid unutilized funds from current deal
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International Monetary Fund FUND
KEN
John Mbadi
William Ruto
Duncan Miriri
Libby George
Alex Richardson
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10:43 24.03.2025
IMF report misinterpreted as endorsement of Bitcoin as digital gold
07:30 24.03.2025
imf integrates bitcoin into global economic framework reshaping crypto classification
20:00 22.03.2025
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