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The International Monetary Fund's executive board on Monday signed off on nearly $1 billion in new funding for Kenya that could ease pressure on government finances in East Africa's largest economy, the global lender said in a statement. ....
U.S. Treasury Secretary Janet Yellen said on Sunday she was "eager" to work with China on areas of mutual interest, including debt restructurings for poorer countries, and that multilateral development banks needed reforms before capital increases could be considered. ....
Sri Lanka announced a restructuring plan for its massive domestic debt on Thursday to meet targets set by the International Monetary Fund (IMF) and aim to turn around its economy, which has been hammered by a financial crisis. ....
Sri Lanka will enter into an agreement with the World Bank for $500 million in budgetary support after the cabinet approved it on Tuesday, the biggest funding tranche for the crisis-hit nation since an International Monetary Fund deal in March. ....
The World Bank said on Tuesday it has approved a $1.14 billion project to expand access to cleaner electricity in eastern Indonesia, for which it will provide $500 million in financial support. ....