IMF approves $2.2bn disbursement to Ukraine after loan review

IMF approves $2.2bn disbursement to Ukraine after loan review
Ukrainian service members of the 43rd Hetman Taras Triasylo Separate Artillery Brigade fire towards Russian troops in a Panzerhaubitze 2000 self-propelled howitzer, amid Russia's attack on Ukraine, at a position near the town of Chasiv Yar, in Donetsk region. (Reuters)
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Updated 29 June 2024

IMF approves $2.2bn disbursement to Ukraine after loan review

IMF approves $2.2bn disbursement to Ukraine after loan review

WASHINGTON: The International Monetary Fund on Friday said its executive board approved a $2.2 billion disbursement to Ukraine for budget support and urged external donors to keep up support for the war-torn country amid a deteriorating economic outlook.
The IMF’s approval of the fourth review of the four-year, Extended Fund Facility brings total disbursements to $7.6 billion, nearly half of the $15.6 billion program approved in March 2023.
The IMF said in a statement that Ukraine’s performance under the extended fund facility program remains strong despite challenging conditions, with quantitative targets met and structural benchmarks implemented on time or with a short delay.
While Ukraine’s economy performed strongly during the first quarter of 2024, the outlook for the second half of 2024 and into 2025 has deteriorated, amid increased Russian attacks on Ukraine’s power infrastructure and deteriorating consumer and business sentiment as the war evolves.
The fund adjusted downward its 2024 GDP growth forecast for Ukraine to a range of 2.5-3.5 percent, compared to a prior forecast of 3.2 percent in the April World Economic Outlook.
The IMF program is part of a package of external support, mostly from donor countries that it estimates at about $122 billion over the four-year program window. The IMF said a downside scenario would require $141 billion in external financing.
Neither estimate includes the potential proceeds from a
$50 billion loan
that the G7 industrial democracies have agreed to grant Ukraine, backed by the earnings from frozen Russian assets, said Gavin Gray, the IMF’s Ukraine mission chief.
Gray told reporters that the IMF would reassess Ukraine’s financing framework should the loan be completed, but it was important that the use of Russian assets has “sufficient legal underpinnings” and does not undermine the functioning of the global financial system.
“Above all, continued support from all external partners is essential for Ukraine to sustain the progress on growth and stability, which has been achieved over the past year,” Gray said. “Without these resources, the hard-won macro-stabilization gains could be jeopardized.”
Gray said that he did not expect the weaker economic outlook to have a material impact on Ukraine’s negotiations with bondholders to restructure its debt, which are based on a medium-term framework that remains largely unchanged. He added that there have recently been “intensifying discussions” with bondholders and the IMF expects a completion of the negotiations in coming weeks.


Russia might try to take Ukrainian city of Sumy, Putin says

Updated 3 sec ago

Russia might try to take Ukrainian city of Sumy, Putin says

Russia might try to take Ukrainian city of Sumy, Putin says
Ukraine said Putin’s comments showed “disdain” for the peace process
“We have no objective to take Sumy, but in principle I do not rule it out... They pose a constant threat to us, constantly shelling the border areas,” Putin said

SAINT PETERSBURG: Russian President Vladimir Putin said Friday he did not “rule out” his forces attempting to seize the northeastern Ukrainian city of Sumy, casting fresh doubt over the prospect of peace talks between Moscow and Kyiv.

Ukraine said Putin’s comments showed “disdain” for the peace process.

Diplomatic efforts to end the three-year conflict have stalled in recent weeks and Kyiv has accused Moscow of deliberately sabotaging a peace deal to prolong its full-scale offensive on the country.

Russia currently occupies around a fifth of Ukraine and has claimed four Ukrainian regions as its own since launching its assault in 2022, in addition to Crimea, which it captured in 2014.

The Sumy region is not one of the regions Moscow has formally annexed, although Russian forces have recently made inroads there for the first time in three years.

At Russia’s flagship economic forum in Saint Petersburg, Putin suggested Moscow could take Sumy as part of the creation of a “buffer zone” along the border and repeated his denial of Ukrainian statehood.

“We have no objective to take Sumy, but in principle I do not rule it out... They pose a constant threat to us, constantly shelling the border areas,” Putin said.

“I consider Russians and Ukrainians to be one people. In that sense, all of Ukraine is ours,” he told attendees, when asked why his army was entering areas Moscow did not claim as its own.

“There is a saying: wherever a Russian soldier sets foot, that is ours.”

Ukrainian Foreign Minister Andriy Sybiga described Putin’s comments as “deranged” and called for Kyiv’s allies to slap “devastating sanctions” on Russia.

“The only way to force Russia into peace is to deprive it of its sense of impunity,” he wrote in a post on X.

Putin’s widening territorial ambitions are likely to roil Ukrainian President Volodymyr Zelensky,
who has accused Moscow of not wanting to end the fighting.

The two sides held rounds of direct talks in Istanbul in May and in June, but Kyiv accused Moscow of sending “dummy” negotiators with no real power to enact a peace deal.

Putin has declined to take part in the peace talks in person and on Thursday said he would only meet Zelensky during a “final phase” of negotiations on ending the three-year conflict.

He has also insisted Ukraine give up territory it already controls for peace.

Kyiv says it cannot and will not accept Russian occupation of any part of its land.

In his address Friday, Putin denied he was calling for Ukraine to “capitulate.”

“We are not seeking Ukraine’s surrender. We insist on recognition of the realities that have developed on the ground,” the Russian leader said.

Putin repeated that Moscow was “advancing on all fronts” and that his troops had penetrated up to 12 kilometers (seven miles) into the Sumy region.

He also accused Kyiv of “stupidity” by launching an incursion into Russia’s Kursk region last August.

“They are creating problems for themselves,” he said.

Russia has for months been rejecting calls for an unconditional ceasefire, launching deadly attacks on its neighbor.

Europeans’ meeting with top Iranian diplomat yields hope of more talks, no obvious breakthrough

Europeans’ meeting with top Iranian diplomat yields hope of more talks, no obvious breakthrough
Updated 16 min 12 sec ago

Europeans’ meeting with top Iranian diplomat yields hope of more talks, no obvious breakthrough

Europeans’ meeting with top Iranian diplomat yields hope of more talks, no obvious breakthrough
  • It was the first face-to-face meeting between Western and Iranian officials since the start of the conflict
  • “The good result today is that we leave the room with the impression that the Iranian side is fundamentally ready to continue talking,” Wadephul said

GENEVA: A meeting between Iran’s foreign minister and top European diplomats on Friday yielded hopes of further talks but no indication of any immediate concrete breakthrough, a week after the crisis centered on the Iranian nuclear program erupted into war between Israel and Tehran.

Foreign ministers from Britain, France and Germany, as well as the European Union’s foreign policy chief, emerged from talks at a Geneva hotel about 3 1/2 hours after Iran’s Abbas Araghchi arrived for the meeting.

It was the first face-to-face meeting between Western and Iranian officials since the start of the conflict.

“The good result today is that we leave the room with the impression that the Iranian side is fundamentally ready to continue talking about all important issues,” German Foreign Minister Johann Wadephul said. He said the two sides had held “very serious talks.”

British Foreign Secretary David Lammy said: “We are keen to continue ongoing discussions and negotiations with Iran, and we urge Iran to continue their talks with the United States.” He added that “we were clear: Iran cannot have a nuclear weapon.”

“Military operations can slow Iran’s nuclear program but in no way can they eliminate it, said French Foreign Minister Jean-Noël Barrot. “We know well — after having seen what happened in Afghanistan, in Iraq, in Libya — how illusory and dangerous it is to want to impose regime change from outside.”

Barrot also said that European nations ”invited the Iranian minister to envisage negotiations with all parties including the United States, and without waiting for the end of the strikes.”

The French Foreign Minister explained that in discussions with Iran, Foreign Minister Araghchi agreed “to put all the issues on the table including some that weren’t there before” and “showed his disposition to continuing the conversation — that we started today — and for the Europeans to help facilitate, including with the United States.”

EU foreign policy chief Kaja Kallas said ”we agreed that we will discuss nuclear but also broader issues that we have, and keep the discussions open.”

Iran’s Foreign Minister Abbas Araghchi also addressed reporters outside the meeting venue after the talks ended. He expressed support for “a continuation of discussions with the E3 and the EU and expressed his readiness to meet again in the near future.” He also denounced Israel’s attacks against nuclear facilities in Iran and expressed “grave concern” on what he called “non-condemnation” by European nations.

US considering how to proceed

Lammy traveled to Geneva after meeting in Washington with US Secretary of State Marco Rubio and President Donald Trump’s Mideast envoy, Steve Witkoff.

Trump has been weighing whether to attack Iran by striking its well-defended Fordo uranium enrichment facility, which is buried under a mountain and widely considered to be out of reach of all but America’s “bunker-buster” bombs. He said Wednesday that he’ll decide within two weeks whether the US military will get directly involved in the war given the “substantial chance” for renewed negotiations over Tehran’s nuclear program.

Israel says it launched its airstrike campaign to stop Iran from getting closer to being able to build a nuclear weapon. Iran and the United States had been negotiating over the possibility of a new diplomatic deal over Tehran’s program, though Trump has said Israel’s campaign came after a 60-day window he set for the talks.

French Foreign Minister Jean-Noël Barrot said that “we wanted to open a discussion with the Iranian foreign minister because we believe that there is no definitive solution by military means to the Iranian nuclear problem — military operations may delay it but they can’t eliminate it.”


Singer Chris Brown pleads not guilty

Singer Chris Brown pleads not guilty
Updated 20 June 2025

Singer Chris Brown pleads not guilty

Singer Chris Brown pleads not guilty
  • Brown was originally charged with a single count of grievous bodily harm after his arrest in May, but prosecutors subsequently brought an indictment adding two counts: assault causing actual bodily harm and having an offensive weapon, a bottle

LONDON: Grammy-winning singer Chris Brown pleaded not guilty Friday to a charge related to the serious beating of a music producer with a bottle in a London nightclub in 2023.
Brown, 36, wearing a blue suit, white shirt and black-rimmed glasses, was arraigned in London’s Southwark Crown Court on one count of attempting to unlawfully and maliciously cause grievous bodily harm with intent.
Brown’s friend and fellow musician Omololu Akinlolu, 39, who performs under the name “Hoody Baby,” pleaded not guilty to the same charge.
Prosecutors previously said Brown and Akinlolu assaulted producer Abe Diaw at a bar in the Tape nightclub in the swanky Mayfair neighborhood in February 2023. Brown allegedly launched an unprovoked attack on Diaw and hit him several times with a bottle and then punched and kicked him.
The attack was caught on surveillance camera in front of a club full of people, prosecutors said.
Brown was originally charged with a single count of grievous bodily harm after his arrest in May, but prosecutors subsequently brought an indictment adding two counts: assault causing actual bodily harm and having an offensive weapon, a bottle.
When a court clerk asked Brown how he pleaded to the grievous bodily harm count, he replied: “Not guilty ma’am.”
Brown did not enter pleas on the additional counts and was ordered to return to court July 11 to face those charges after wrapping up the European leg of his world tour. His trial was scheduled for Oct. 26, 2026.
The singer of “Go Crazy,” “Run It,” and “Kiss Kiss” was released last month on a 5 million-pound ($6.75 million) bail, which allowed him to start his “Breezy Bowl XX” tour earlier this month.
Following his release after almost a week in jail, Brown posted on Instagram: “FROM THE CAGE TO THE STAGE!!! BREEZYBOWL.”
Brown, who quickly rose to stardom as a teen in 2005, won his first Grammy for best R&B album in 2011 for “F.A.M.E.” and then earned his second in the same category for “11:11 (Deluxe)” earlier this year.

 


UN’s Guterres urges ‘give peace a chance’ in Israel-Iran conflict

UN’s Guterres urges ‘give peace a chance’ in Israel-Iran conflict
Updated 20 June 2025

UN’s Guterres urges ‘give peace a chance’ in Israel-Iran conflict

UN’s Guterres urges ‘give peace a chance’ in Israel-Iran conflict
  • Guterres said there were “moments when the directions taken will shape not just the fate of nations, but potentially our collective future“
  • Rafael Grossi, IAEA’s head, outlined Israeli attacks on nuclear facilities at Natanz, Isfahan and Arak

NEW YORK: UN Secretary-General Antonio Guterres warned on Friday that expansion of the Israel-Iran conflict could “ignite a fire no one can control” and called on both sides and potential parties to the conflict to “give peace a chance.”

The head of the UN nuclear watchdog agency, speaking at the same United Nations Security Council session, warned that attacks on nuclear facilities could result in the release of radiation “within and beyond boundaries” of Iran, and called for maximum restraint.

Guterres said there were “moments when the directions taken will shape not just the fate of nations, but potentially our collective future.”

“This is such a moment,” he said.

He said expansion of the conflict would “ignite a fire that no one can control” and added: “We must not let that happen.”

“To the parties to the conflict, the potential parties to the conflict, and to the Security Council as the representative of the international community, I have a simple and clear message: give peace a chance,” Guterres said.

The Security Council session took place as European foreign ministers met their Iranian counterpart on Friday hoping to test Tehran’s readiness to negotiate a new nuclear deal despite there being scant prospect of Israel ceasing its attacks soon.

Israel has repeatedly bombed nuclear targets in Iran and Iran has fired missiles and drones at Israel as a week-old air war escalated with no sign yet of an exit strategy from either side.

The White House said on Thursday US President Donald Trump would make a decision within the next two weeks whether to get involved on Israel’s side. Iran said on Friday it would not discuss the future of its nuclear program while under attack by Israel.

Israel’s UN ambassador, Danny Danon, said his country sought genuine efforts to dismantle Iran’s nuclear capabilities from Friday’s meeting between European and Iranian ministers, not just another round of talks

“We have seen diplomatic talks for the last few decades, and look at the results,” he told reporters.

“If it is going to be like another session and debates, that’s not going to work.”

Rafael Grossi, head of the International Atomic Energy Agency, outlined Israeli attacks on nuclear facilities at Natanz, Isfahan and Arak.

He said the level of radioactivity outside Iran’s Natanz site has remained unchanged and at normal levels, indicating no external radiological impact on the population or the environment there.

However, he said that within the facility there was both radiological and chemical contamination. He said the IAEA was not aware of any damage at Iran’s Fordow plant at this time.

An attack on Iran’s Bushehr plant would be most serious, he said: “It is an operating nuclear power plant and hosts thousands of kilograms of nuclear material.”

“I want to make it absolutely and completely clear: In the case of an attack on the Bushehr nuclear power plant, a direct hit would result in a very high release of radioactivity to the environment,” Grossi said.

“Similarly, a hit that disabled the only two lines supplying electrical power to the plant could cause its reactor’s core to melt.”

He said any action against the Tehran nuclear research reactor will also have severe consequences, “potentially for large areas of the city of Tehran and its inhabitants.”

The US ambassador to the United Nations, Dorothy Camille Shea, said the United States “continues to stand with Israel and supports its actions against Iran’s nuclear ambitions.”

“We can no longer ignore that Iran has all that it needs to achieve a nuclear weapon,” she said.

China and Russia demanded immediate de-escalation.

Russia’s UN ambassador, Vasily Nebenzya, said Israel’s actions risked pulling third countries into the conflict and internationalization of the conflict must be avoided.

He said targeting of what he called Iran’s peaceful civilian nuclear facilities was “liable to plunge us into a hither to unseen nuclear catastrophe.”

Iran says its nuclear program is only for peaceful purposes. Israel is widely assumed to possess nuclear weapons. It neither confirms nor denies this.


Greek coast guard says over 600 migrants rescued from 2 fishing boats

Greek coast guard says over 600 migrants rescued from 2 fishing boats
Updated 20 June 2025

Greek coast guard says over 600 migrants rescued from 2 fishing boats

Greek coast guard says over 600 migrants rescued from 2 fishing boats
  • The first fishing boat, carrying 352 people, was spotted overnight about 55 kilometers south of the tiny island of Gavdos
  • The second was found 90 kilometers south of the island of Crete with 278 people on board

ATHENS: More than 600 migrants were rescued overnight and early Friday from two wooden fishing boats found sailing miles (kilometers) from the southernmost part of Greece, the country’s coast guard said.

The first fishing boat, carrying 352 people, was spotted overnight about 30 nautical miles (35 miles, 55 kilometers) south of the tiny island of Gavdos, the coast guard said. Passengers were rescued by a ship from the European border patrol agency FRONTEX, aided by a coast guard patrol boat and four other vessels.

The second was found 50 nautical miles (about 60 miles, 90 kilometers) south of the island of Crete with 278 people on board. The passengers were picked up by a passing Portuguese-flagged cargo ship. In both cases, the migrants were transported to Crete.

There was no immediate information on the nationalities of those on board the two fishing boats.

Another two boats carrying migrants were located in the same area on Thursday, the coast guard said. One, carrying 73 men, was found south of Gavdos and another with 26 people, including one woman and three minors, was found near the coast of southern Crete.

The coast guard said those on the smaller boat told authorities they had set sail the previous evening from Tobruk in Libya, and had each paid smugglers either 4,000 euros ($5,500) for their passage to Greece. Two Sudanese teenagers, one aged 16 and the other 19, were arrested on suspicion of migrant smuggling after other passengers identified them as having been operating the boat.

Greece has been on one of the preferred routes into the European Union for people fleeing war and poverty in the Middle East, Africa and Asia for decades.

Arrivals from neighboring Turkiye to the east and the Libyan coast to the south spiked last year, with Greece recording more than 60,000 people arriving — the vast majority by sea — in 2024, compared to just over 48,000 the previous year, according to figures from the UN refugee agency.

As of June 15 this year, a total of 16,290 arrivals were recorded, with more than 14,600 of those by sea.

With authorities closely patrolling the eastern sea border with Turkiye to prevent migrant boats reaching nearby Greek islands, smugglers appear to be increasingly opting for the much longer and riskier Mediterranean Sea crossing from the north African coast to the southern tip of Greece, using larger boats into which they can cram more people.