The importance of understanding the role of the IMF

FILE - Free-range hens walking around. (Tim Graham/Getty Images)A man in China was sentenced to prison after he snuck onto his neighbor's property and scared 1,100 chickens to death.The man, identified only by his last name Gu, snuck onto his neighbor Zhong's chicken farm and used a flashlight to frighten the chickens, causing them to kill each other, China Daily reported.The light from the flashlight terrified the chickens, causing them to flee to a corner of the coop where they trampled over one another trying to get away.The incident came during a feud between the two neighbors that began in April 2022, when Gu cut down Zhong's trees without his permission, the outlet reported.

WEST READING, Pa. - A devastating explosion claimed the lives of seven innocent people after it leveled a historic chocolate factory, leaving a West Reading community to pick up the pieces in so many ways.Seven people were killed, and several others wounded in the powerful blast at the R.M Palmer Co. plant last month in West Reading, Pennsylvania, which is about 60 miles northwest of Philadelphia. One survivor was pulled from the rubble hours after the explosion rattled windows and shook houses.Rescue workers searched for days in the hopes of pulling more survivors to safety, but their heroic efforts came to a tragic end for several families.RELATED COVERAGE: West Reading explosion: 7 confirmed dead, all accounted for after blast rocks chocolate factoryNow, as a community tries to rebuild emotionally, the town is doing the same physically. West Reading Mayor Samantha Kaag announced that a demolition project will begin Wednesday at the site of the deadly blast, where debris and parts of the factory still remain.The demolition will remove the north-facing wall from Building 1, which officials say is in danger of collapse. RELATED COVERAGE: West Reading community joins together to support families, first responders following devastating explosionA crane was delivered to the site Tuesday, which temporarily closed Penn Avenue.

The president and CEO, as well as the entire volunteer board of directors of the Pierre Elliott Trudeau Foundation, resigned Tuesday in the wake of “pressure” following a media report detailing a $200,000 donation with alleged ties to Beijing.

MOSCOW - A volcano erupted early Tuesday on Russia's far eastern Kamchatka Peninsula, spewing clouds of dust 20 kilometers (65,600 feet) into the sky and covering broad areas with ash.The ash cloud from the eruption of Shiveluch, one of Kamchatka's most active volcanoes, extended over 500 kilometers (more than 300 miles) northwest and engulfed several villages in grey volcanic dust.Officials closed the skies over the area to aircraft. Local authorities advised residents to stay indoors and shut schools in several affected communities.

Whole Foods store in San Franciscos Midmarket neighborhood. (Credit: Whole Foods) SAN FRANCISCO - Whole Foods is closing their flagship San Francisco store on Monday at the end of business hours. Whole Foods told KTVU that the store on Market Street at 8th is shutting down for the time being because of employee safety concerns.

SAN JOSE, CALIFORNIA - NOVEMBER 18: Former Theranos CEO Elizabeth Holmes (L) arrives at federal court with her partner Billy Evans (R) on November 18, 2022 in San Jose, California. Holmes appeared in federal court for sentencing after being convicted SAN JOSE, Calif. - A judge ruled on Monday that Theranos founder Elizabeth Holmes must surrender April 27 to serve her sentence for felony fraud, denying her request to stay home as she appeals her conviction. U.S.

Gordon Lightfoot is cancelling concerts.

MONTGOMERY COUNTY - A criminal investigation is underway after police say a shooting took place at a Dunkin' Donuts in Cheltenham Township Tuesday morning.SkyFOX was live over the scene as a heavy police presence gathered around a taped off drive-thru.Police say the shooting happened outside the Dunkin' Donuts on Cheltenham Avenue in the Melrose Shopping Center.Residents are asked to avoid the area for the time being.This is a developing story.

PHILADELPHIA - Philadelphia's Board of Ethics is suing a super PAC affiliated with mayoral candidate Jeff Brown for campaign finance violations.The lawsuit claims the group "For a Better Philadelphia" coordinated with Brown to go above the city's campaign funding limits.With just about a month to go until the primary election on May 16, the board aims to stop any contributions by taking legal action.RELATED COVERAGE: Philadelphia's Next Mayor: Meet the CandidatesThey are also asking for $162,000 in civil penalties, according to the lawsuit.Brown's campaign has denied any wrongdoing.The Democratic candidate is set to take the stage Tuesday night along with six other candidates for FOX 29's Democratic Primary Debate at Temple University.

PHILADELPHIA - One vehicle went up in flames on two separate occasions after arson suspects targeted a car dealership on Roosevelt Boulevard last month.Police say the suspects set the car on fire once on March 28, then again on March 31.

LOUISVILLE, KY - APRIL 10: Community members gather at Crescent Hill Presbyterian Church for a vigil following the mass shooting at the Old National Bank on April 10, 2023 in Louisville, Kentucky. A gunman opened fire inside the bank, killing four pe LOUISVILLE, Ky. (AP) - Tributes were growing Monday for the five people slain in a shooting at a Louisville bank, with friends sharing details of their lives and mourners gathering at vigils.Details were also emerging about some of the wounded, including a rookie officer who was just recently sworn in.Louisville’s former Mayor Greg Fischer said he’d known 63-year-old Tommy Elliott, one of those killed, for 40 years.

DUBAI, UNITED ARAB EMIRATES - JANUARY 29: A general view at dawn of the clubhouse with the skyline of the Dubai Marina behind during the delayed third round on Day Four of the Hero Dubai Desert Classic on the Majlis Course at Emirates Golf Club on Ja WASHINGTON (AP) - U.S. spies caught Russian intelligence officers boasting that they had convinced the oil-rich United Arab Emirates "to work together against US and UK intelligence agencies," according to a purported American document posted online as part of a major U.S.

DELAWARE COUNTY - A threat against a high school in Delaware County has prompted law enforcement to take action Tuesday morning.Students and staff are expected to see an increased police presence at Interboro High School, in addition to the school resource officer.Police say a threat was made against the high school in Prospect Park on Instagram Monday night."The writer claims that he plans on harming students and staff members on today’s date," Prospect Park Police Chief Dave Madonna said in a Facebook post.MORE HEADLINES:While officials say they don't believe the threat is credible, they are taking necessary precautions."Someone wanted attention when they posted this, and now they definitely have ours," Madonna said.

Global food priecs may have eased following the UN’s Black Sea Grain Initiative, but they continue to rule above the levels seen before the Russia-Ukraine war and the covid outbreak, United Nations Conference on Trade and Development (UNCTAD) said in a recent report. This assume significance for India as it is witnessing a sharp surge in food prices, including those of milk. Inflation in the food basket in February was at 5.95%, up from 5.94% in January.

There will be fears for one of Weatherfield's most-loved residents next week as Roy Cropper's health takes a scary turn. New Coronation Street spoilers have revealed that the cafe owner will reveal he's been struggling with chest pains and breathlessness before being supported at the hospital by Evelyn Plummer.

India reports 5,676 new COVID-19 cases and 21 deaths in the last 24 hours, with the number of cases doubling every 4-5 days. The XBB.1.16 variant is responsible for the current surge but is said to be milder, and Indians have hybrid immunity due to vaccination and natural exposure. The health ministry urges people to complete their vaccination doses and follow a risk assessment-based approach to prevent and contain the infection.

US President Joe Biden has officially ended the Covid national health emergency that for more than three years underpinned extraordinary efforts to provide care for a country where more than a million people died from the disease.

Ukraine, rather than launching a probe of its own.Over the weekend, U.S. officials briefed allies and partners, including Canada, about the potential ramifications of the leak.Wesley Wark, a senior fellow with the Centre for International Governance Innovation, said Canadian officials will want to understand the seriousness of the incident and learn more about the specific information within the documents that pertains to Canada.“In that initial stage, there’s generally a lot of reluctance to share what is known about a counter-intelligence investigation with allies, even close allies,” he said.“I suspect the Canadian government is going to be watching anxiously from the sidelines as it waits for more information.” Read more: U.S.

Coronation Street star Simon Gregson has given fans an update on his real-life injury after Steve McDonald appeared on screen last year in a wheelchair. In an episode of the ITV soap aired on November 29, the character returned from a trip to Spain. He got sympathy from his pals in the boozer, with the exception of his wife Tracy, as he explained that he had broken his leg while chasing a mugger.

A Norfolk Southern Corp. freight train sits parked during a crew change in Burnside, Kentucky, U.S., on Friday, Oct. 17, 2014.

Insurer Vs web aggregator: All buyers should necessarily compare the discounts offered by insurers on their respective websites and that provided by a web aggregator. In some cases, the aggregator offers a lower premium for the same policy and coverage. Yet, an aggregator may not necessarily give discounts on every policy.

COLOMBO (News 1st); Railway operations were crippled on Wednesday (15) morning due to a strike launched by the Locomotive Operating Engineers' Association.The Locomotive Operating Engineers' Association of Sri Lanka Railways declared a 24-hour strike that come into effect at midnight on Tuesday (14).According to Sri Lanka Railways, around 20 trains operated on Wednesday (15) morning, compared to the over 60 trains that operate daily in the morning.Railways General Manager A. D.

COLOMBO (News 1st); Sri Lanka's Foreign Minister Ali Sabry, PC said that four more countries have stepped forward to provide debt restructuring assurances to the International Monetary Fund.He tweeted that Saudi Arabia, Pakistan, Hungary, and Kuwait have given debt restructuring assurances to IMF. The Foreign Minister is in the UK to attend the Commonwealth Day celebrations.Minister of Foreign Affairs, Ali Sabry will participate in the 22nd Commonwealth Foreign Affairs Ministers Meeting (CFAMM) at the Commonwealth Headquarters, Marlborough House, London on 15 March 2023. This year’s CFAMM will engage the Foreign Ministers in discussing joint responses to shared challenges such as the need to build resilience for peaceful and sustainable societies, climate financing for environmental sustainability and leveraging intra -commonwealth trade and digital connectivity for economic recovery, food, and energy security.On the sidelines of these events, Minister Sabry will have a call on the Rt Hon James Cleverly, Secretary of State for Foreign, Commonwealth Development Affairs (FCDO), bilateral meetings with Rt Hon Patricia Scotland KC, Secretary General of the Commonwealth, Ann Marie Trevelyan, Minister of State for Indo – Pacific FCDO and Lord Mervyn Davies of Abersoch, Prime Minister’s Trade Envoy for Sri Lanka. The Foreign Minister will also participate in an afternoon tea hosted by Rt Hon Lord Naseby at the House of Commons and deliver remarks on Sri Lanka’s relations with the UK to a cross section of British Parliamentarians organized by the Sri Lanka High Commission in London together with Sri Lanka Tea Board.

COLOMBO (News 1st); Sri Lankan President Ranil Wickremesinghe has expressed gratitude to the Paris Club, Japan, India, and China for enabling cooperation required to reach an IMF facility for the country.In an open letter to Sri Lanka's Official Bilateral Creditors, President Wickremesinghe noted that the government deployed all efforts to demonstrate our commitment to the EFF program and relentlessly engage on the path to reforms. He said the administration has already implemented major reforms by way of prior actions agreed with the IMF.The President said his government introduced a robust  reform agenda aimed at achieving debt sustainability, strengthening governance, widening the social safety nets supporting the most vulnerable and ensuring we can grow an inclusive  economy attractive to international business. He said this is how Sri Lanka will improve the lives of its people and ensure they are first in line to benefit from improvements in our economic conditions.The President has requested creditors to maintain and even enlarge and strengthen official bilateral creditor coordination in the context of Sri Lanka's forthcoming engagement. He called on the Paris Club  bilateral partners, in particular Japan, together with all our other official bilateral partners,  including India and China, to garner and foster coordination as you best see fit.The Presidnet noted that Sri Lanka is committed to communicate transparently with all on any debt treatment terms that are agreed with any creditor or group of creditors, before being formalized. The President in his letter has also committed not to resume debt service to any creditor unless that creditor agrees on a comprehensive debt treatment in line with IMF-supported

Mumbai, Maharashtra, India – Business Wire India Having a reliable health insurance policy can be crucial in managing medical expenses. Royal Sundaram has been providing health insurance coverage for over two decades, helping policyholders navigate the complexities of obtaining affordable Health Insurance. As a leading provider of health insurance, the company has been dedicated to helping individuals and families manage their medical expenses with ease.

COLOMBO (News 1st); Train operations along the main railway line were delayed on Monday (13) morning due to a derailment in Orugodawatte.Sri Lanka Railways said that several fasteners, a Railway Track Component, had been removed and stolen, resulting in the derailment.Sri Lanka Railways considers the act of removing the fasteners as theft, and noted that steps were taken to restore operations.

HOUSTON - It's allergy season, so if it seems like everyone and their mom are getting sick, you know why.  During the Spring time in Houston, certain plants bloom, and with many people moving to the city, it's almost unavoidable to get sick. MORE: The difference between COVID-19 symptoms and seasonal allergiesBut before you freak out, allergy experts, like CVS MinuteClinic practitioner Erin Vierus, are stressing the importance of recognizing the signs, treating them adequately, and doing what you can to prevent them. "We've had a particularly bad sick season with so many different viruses circulating right now," Vierus explained.

The Bank of Canada held its benchmark interest rate steady on Wednesday — a decision real estate players and economists say will have major implications for the Canadian housing market.

The children of Prince Harry and Meghan Markle will now be referred to as prince and princess after the Duke and Duchess of Sussex made public that they are claiming the royal titles.

President Ranil Wickremesinghe in his capacity as the Minister of Finance, Economic Stabilization, and National Policies on Wednesday (8) issued an Order to waive the remaining balance of the Special Commodity Levy on imported Dates in view of the Ramadan festival.The levy, set at Rs. 200 per Kg, will be collected at a reduced rate of Rs.

EAST GERMANTOWN - Students at Imhotep Charter High School are changing lives through their stem program. Through the use of 3D printers, they are bringing clean water everywhere from Mississippi to Ghana."I am one of the first people in my family to be doing something this big," student JaNiece Watters said.Five months ago, STEM ambassadors from Imhotep Institute Charter High School traveled to Jackson, Mississippi to aid in the city’s water crisis.RELATED COVERAGE:Student Musa Wilson stated, "Knowing that we changed lives down in Jackson, Mississippi is really monumental for us, especially as young, Black kids."Now the students will be taking 3D printed water filters overseas to a town in Ghana, called Kheta, where the water can’t even be used to wash hands."We’re going to be helping over 3,000 students across 10 different schools in Ghana," Watters continued.From water filter design and 3D printing, to product testing and research, each of the students has a fundamental role in the life-changing project."We’re trying to produce 200 and it probably takes around seven to eight hours to make one, so we’re getting ahead early," student Cyril Woodland said.Shirley Posey is the director of STEM at Imhotep and says being proud is an understatement."We’re trying to cultivate our scholars to be critical thinkers, to be problem solvers.

Colombo (News 1st) – The International Monetary Fund announced on Tuesday (07) that Sri Lanka has received financial assurances from all its major bilateral creditors. This paves the way for the IMF Board to consider the approval of the Staff Level Agreement for financing under the Extended Fund Facility on March 20.Earlier in the day, China gave assurances that it will support Sri Lanka's debt restructuring, clearing the biggest hurdle for the nation to secure a USD 2.9 billion bailout from the IMF. The IMF approval for a USD 2.9 billion loan depended on financial assurance from all Sri Lankan creditors.

COLOMBO (News 1st); Sri Lanka has now received financing assurances from all major bilateral creditors, said Krishna Srinivasan, Director of Asia and Pacific Department of IMF on Tuesday (7).This paves the way for consideration by the IMF’s Board on March 20th the approval of the Staff Level Agreement reached on September 1st, 2022 for financing under an Extended Fund Facility. Approval by the Board would also catalyze financing from other creditors, including the World Bank and the Asian Development Bank, he said in a statement.The arrangement will support the authorities’ program of ambitious reforms, that they have already embarked upon, which will help Sri Lanka emerge from its current crisis and set it on a trajectory of strong and inclusive growth, said Krishna Srinivasan, Director of Asia and Pacific Department of IMF.

PHILADELPHIA - With the primary election for Philadelphia's next mayor just months away, the number of candidates throwing their hats in the ring continues to grow.FOX 29 has parented with the Lenfest Institute in their "Every Voice, Every Vote" initiative to create an informed electorate, providing detailed information about each candidate up until Election Day.On this week's "Race for the Philadelphia's Next Mayor," Bill Anderson spoke to community members and activists about how the current candidates are handling one of Philadelphia's most important issues - gun violence.We asked the questions:Discover how the people of Philadelphia feel about the upcoming election, what is driving their vote, and how the current mayoral candidates stand on the election's largest issue in the full FOX 29 Special "You Decide: The Race for Philadelphia's Next Mayor" above.

COLOMBO (News 1st); The IMF Mission in Sri Lanka says that the decision taken by the Central Bank of Sri Lanka to raise the policy rate is appropriate and in line with its objectives set under the inflation targeting framework.Peter Breuer, Senior Mission Chief for Sri Lanka, and Masahiro Nozaki, Mission Chief for Sri Lanka noted that it reflects CBSL’s commitment to the inflation target and is an important part of the disinflation strategy in the EFF program, which is fully committed by the Sri Lankan authorities and supported by the IMF.   Sri Lanka’s inflation is declining but remains at a very high level, which has been disproportionally hurting the poor, the statement added. "Upside inflation risks could reverse the trend and lead to persistently high inflation which is extremely costly to the economy," they further added.Therefore, CBSL’s decision to raise the policy rate shows its commitment to reduce inflation more quickly and firmly towards the single-digit target. Durable disinflation would help boost market confidence, reduce excessive risk premia and ease the financing conditions for the corporates, especially the small and medium enterprises, which supports recovery.Sri Lanka is ready to adopt the IMF program within March 2023, said Central Bank Governor Dr.