International Monetary Fund likely to withhold Argentina billions until policy fog lifts

Buenos Aires. The International Monetary Fund is unlikely to grant a $5.4 billion disbursement to Argentina without knowing the economic policy plans of the government that takes over in December, according to people familiar with the situation. The IMF can postpone the next disbursement in Argentina’s record $56 billion credit line until having greater clarity […]

Altico Capital India defaults on Mashreq interest payment

Mumbai: Another shadow financier in India has defaulted on a debt repayment, signalling the nation’s yearlong credit crisis is far from abating. Altico Capital India Ltd, a non-banking finance company that focuses on lending to the real-estate sector, didn’t pay Rs199.7 million (Dh10.29 million, $2.8 million) of interest on borrowings from Dubai-based Mashreqbank PSC, Altico […]

Bank of England seen holding rates in what may be final Pre-Brexit meeting

London: The Bank of England is set to keep interest rates on hold at its meeting next week — the last one scheduled before the UK’s current October 31 Brexit deadline. Governor Mark Carney and the Monetary Policy Committee have been hemmed in by Brexit for months, stuck along with the rest of the country […]