‘UK households are the hardest hit by energy crisis in Western Europe’

Soaring energy prices have widened the gap between the wealthiest and the poorest UK households, according to the International Monetary Fund

IMF calls on governments to subsidise food and energy

Managing Director Kristalina Georgieva said support should be provided in a ‘very targeted manner, preferably by providing subsidies directly to people’

EU and International Monetary Fund team up to support sustainable development

They have agreed a new financial partnership agreement that will boost their collaboration to tackle key challenges, including climate change

Global carbon tax ‘needed to tackle climate crisis’

The International Monetary Fund warns the “window of opportunity” for containing global warming is closing rapidly

World’s international bodies ‘not fit for purpose to tackle climate change’

That’s the verdict from Shadow Chancellor John McDonnell MP, who believes the World Bank, IMF and WTO aren’t tackling the issue

Ukraine agrees to end energy subsidies for IMF aid

Ukraine has agreed to end subsidised energy prices for homeowners in exchange for aid from the International Monetary Fund (IMF). The IMF has been in talks with Ukraine’s government for nearly a month on rescuing its economy. The energy sector reforms will take place alongside other banking measures to get an international loan of $27 […]

Brent crude oil drops below $100 a barrel

The price of Brent crude oil dropped below $100 per barrel overnight in London for the first time since July. Brent crude sets the bar for around half of the world’s oil prices. It slipped down to $98.90 in the early hours of this morning, falling as much as much as $1.73, or 1.7%, according […]

Energy key to brokering Cyprus crisis loan with Russia?

Russia could step in to save Cyprus from financial disaster and offer it a loan in exchange for a deal on the nation’s offshore gas assets, according to reports. The island’s Finance Minister Michael Sarris told reporters in Moscow: “There’s a lot of teams now working on a number of issues. Banks, natural gas, are […]

Oil supply disruptions “damaging” to economy

Major disruptions to oil supply could be “particularly damaging” to the world’s economy and could add to the difficulties facing many households. Research by the International Monetary Fund says the world is learning to cope with high oil prices, pointing to recent oil prices hitting $100 a barrel without triggering a recession. However countries are […]

Iran blockade could spike oil prices by 30%

The Iran oil embargo enacted by the G20 could potentially lead to oil prices spiking by up to 30%, the International Monetary Fund has warned. Iran currently supplies over 5% of the world’s oil and oversees the passage of 40% of the world’s exports through the Straits of Hormuz, which is vital for the shipment […]