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☆ The TikTok divest-or-ban bill is a First Amendment disaster, but it may still stand up in court
▼ + stars: | 2024-04-24 | by ( Dan Whateley | ) www.businessinsider.com time to read: +6 min

Maybe…Earlier attempts to ban or force a sale of TikTok often haven't stood up in court. Other parties, like TikTok creators, may launch separate legal challenges in the coming weeks, as they have done in the past. AdvertisementTrump's 2020 order to ban TikTok was halted by a federal judge who said it likely exceeded executive authority. While the bill is framed around forcing US ownership of TikTok, it's likely to result in a ban, which strengthens the free-speech argument. Congress hasn't proven that an outright sale or ban of TikTok is the only way to protect national-security interests.

Persons: Joe Biden, ByteDance, TikTok, haven't, TikTokers, Matthew Schettenhelm, Hans, Lena Shapiro, Ramya Krishnan Organizations: Service, Business, ACLU, Bloomberg Intelligence, Cornell Law School, TikTok, University of Illinois College of Law, Chinese Communist Party, Intelligence Law, CCP, Columbia University Locations: Montana, Texas, Washington, China

☆ Employees are building 'F-you funds' before quitting their jobs. Here's what it means and how to build one.
▼ + stars: | 2024-03-23 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +6 min

Souffrant set out to save enough so they could cover one year's worth of expenses between Woody's salary and her savings. How to build your own 'F you fund' in 2 stepsAnyone can start an "F you fund" like Soufrrant and Shah did to create more options for themselves. Souffrant kept hers in a high-yield savings account. That way, the money was still accessible but earning more interest than it would if it was sitting in a traditional savings account. If your number is $200 per month, have that amount lifted from your checking account and deposited into your "F you account" each month.

Persons: Jamila Souffrant, Souffrant, Nischa Shah, Nischa Shah Nischa Shah, it's, Shah, Woody Organizations: Business, America, Investment

☆ Searches for VPNs spike in Texas after Pornhub pulls out of the state
▼ + stars: | 2024-03-15 | by ( Brian Fung | ) edition.cnn.com time to read: +5 min

“The apparent spike in VPN searches in Texas shows that these types of age verification laws aren’t just unconstitutional, they’re also silly and ineffective,” Greer said. “Similar search spikes have been reported after other states passed age verification laws, which EFF opposes,” said Hudson Hongo, a spokesperson for the group. It also highlights the running debate in statehouses nationwide about how and whether governments can require websites to perform age verification. It requires adult websites to implement “reasonable age verification” methods to ensure that pornography is not being distributed to minors. The 5th Circuit court’s latest decision formally lifts the injunction against the Texas law.

Persons: Pornhub, “, VPNs, ”, Evan Greer, they’re, ” Greer, Hudson Hongo, ” Pornhub, David Alan Ezra, Ezra, Ken Paxton Organizations: CNN, Texas, Pornhub’s, Google, Texans, Frontier Foundation, EFF, Court, Western, Western District of, Circuit, “ Locations: Texas, China, Russia, Turkey, Montana , Utah, Virginia, statehouses, Western District, Western District of Texas

☆ US Supreme Court prepares to hear landmark social media cases
▼ + stars: | 2024-02-25 | by ( Brian Fung | ) edition.cnn.com time to read: +8 min

Monday’s Supreme Court showdown in NetChoice v. Paxton and Moody v. NetChoice will determine whether states can forbid social media companies from blocking or removing user content that goes against platform rules. The Florida and Texas laws are broadly written, but officials from both states say the laws will keep social media sites from unfairly silencing conservatives. Social media platforms have insisted for years that they don’t discriminate against right-wing speech. It also allows individual social media users to sue platforms if they believe they have been unfairly censored or “deplatformed.”Florida Gov. The NetChoice cases reflect a deep divide in how many people see social media.

Persons: Paxton, Moody, Ron DeSantis, Florida’s, Carl Juste, Greg Abbott, Donald Trump, Biden, David Paul Morris, “, ”, ” David Greene Organizations: Washington CNN, Facebook, YouTube, Social, Gov, Florida Gov, Miami Herald, Texas ’, Circuit, Republican, Texas, Bloomberg, Getty, Frontier Foundation, EFF, CNN, Freedom, Press Locations: Texas, Florida, . Texas, NetChoice, Miami, Walnut Creek , California

☆ Why dragging tech CEOs in front of Congress might mean something this time
▼ + stars: | 2024-02-01 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. But his consistent criticism of some of the real issues happening in Big Tech has sometimes reminded me of a classic Clickhole headline: "Heartbreaking: The Worst Person You Know Just Made a Great Point." Section 230 is controversial and has become a rallying point for some conservatives and others, who think it allows Big Tech to hide from criticisms that it isn't fair to all sides. Clearly, these big platforms haven't succeeded — sometimes motivated by a whole bunch of internal factors, including profit. AdvertisementBut if there were some magic bullet to stop child exploitation, I truly believe the companies would've used it by now.

Persons: —, Sen, Josh Hawley, Hawley, Mark Zuckerberg, flay, Sundar Pichai, Zuckerberg, Utah Sen, Orrin Hatch, Zuckerberg blinked, Meta, sextortion, Marsha Blackburn, Wednesday's, there's Organizations: Service, Big Tech, Republican, Business, Twitter, Google, Facebook, Street, Meta, ACLU, Electronic Frontier Foundation Locations: Big, Missouri, Utah, Florida, Tennessee

☆ Amazon’s Ring to shutter video-sharing program popular with police
▼ + stars: | 2024-01-24 | by ( Brian Fung | ) edition.cnn.com time to read: +4 min

Authorities seeking Ring surveillance videos must now submit a formal legal request to the company, rather than soliciting footage directly from users through the app, Ring said in a blog post Wednesday. Hundreds of law enforcement agencies have struck up partnerships with Ring, according to a tracker maintained by the consumer advocacy group Fight for the Future. But, he warned, it would not necessarily stop police from continuing to persuade Ring users to voluntarily give up their rights. Police are able to contact Ring users off the app. And Ring users can still decide if they want to voluntarily send video, sounds or images from their Ring devices to law enforcement.

Persons: ”, Evan Greer, Matthew Guariglia, Guariglia, didn’t, Ring, Massachusetts Democratic Sen, Ed Markey, “, enforcement’s Organizations: CNN, “, Electronic Frontier Foundation, Police, Fraternal, of Police, EFF, Massachusetts Democratic Locations: Massachusetts

☆ British zoo has new plan to rehabilitate its potty-mouthed parrots
▼ + stars: | 2024-01-23 | by ( Issy Ronald | ) edition.cnn.com time to read: +3 min

London CNN —A British wildlife park has hatched a new plan to rehabilitate its potty-mouthed parrots after they unleashed a tide of expletives. Back in 2020, five foul-mouthed African gray parrots, donated to Lincolnshire Wildlife Park in eastern England, were isolated from the flock in an attempt to improve their language. “We’ve put eight really, really offensive, swearing parrots with 92 non-swearing ones,” he said. If the new strategy works, the eight parrots could learn “all the nice noises like microwaves and vehicles reversing” that the other parrots in the flock favor, Nichols added. In fact, historically, “we did hear a lot more customers swearing at parrots than we did parrots swearing at customers,” Nichols said.

Persons: London CNN —, Eric, Sheila –, Steve Nichols, “ We’ve, ”, Nichols, “ it’s, they’re, ” Nichols, hasn’t, “ I’ve, “ I’m, they’ll Organizations: London CNN, CNN, grays, African grays Locations: British, Lincolnshire, England

☆ A financial freedom expert explains why you should have an 'FU fund' in addition to an emergency fund — and how it helped her quit her job before 40
▼ + stars: | 2023-12-21 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +4 min

When Jamila Souffrant found out she was pregnant with her third kid, she was working a full-time corporate job while building her financial freedom blog and brand. To set herself up to walk away from corporate America, Souffrant started ramping up her "FU fund," which she describes as "an emergency savings fund on crack." Souffrant set out to save enough where they could cover one year's worth of expenses between Woody's salary and her FU fund. AdvertisementFor about a year, Souffrant decreased her contributions to her retirement savings and investment account to beef up her FU fund, which she kept in a high-yield savings account. Souffrant encourages anyone who is pursuing financial independence to build an FU fund.

Persons: Jamila Souffrant, Souffrant, ramping, Woody, wouldn't, she's Organizations: Service, Business Locations: America

☆ S.African lawmakers vote to suspend diplomatic ties with Israel, shut embassy
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +2 min

Supporters of South Africa's ruling African National Congress (ANC) and various political parties including civil society groups gather in solidarity with the Palestinian people outside the Israeli embassy in Pretoria, South Africa, October 20, 2023. REUTERS/Siphiwe Sibeko/File Photo Acquire Licensing RightsCAPE TOWN, Nov 21 (Reuters) - South African lawmakers voted on Tuesday in favour of closing down the Israeli embassy in Pretoria and suspending all diplomatic relations until a ceasefire is agreed in its war with Palestinian Islamist group Hamas in Gaza. The Israeli embassy did not immediately respond to a request for comment. On Monday, the Israeli ambassador in Pretoria was recalled to Tel Aviv for consultations ahead of the vote, which on Tuesday was resoundingly adopted by a 248-91 margin. Reporting by Wendell Roelf; editing by Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.

Persons: Siphiwe, Cyril Ramaphosa's, resoundingly, Nelson Mandela, Pemmy Majodina, Wendell Roelf, Mark Heinrich Our Organizations: National Congress, ANC, REUTERS, Palestinian, Hamas, Court, Fighters, EFF, Nations, Thomson Locations: Pretoria, South Africa, Gaza, Tel Aviv, Israel, Africa, Hamas

☆ At Dubai Design Week, an architect created a space for humans and pigeons to share
▼ + stars: | 2023-11-10 | by ( Manav Tanneeru | Arya Jyothi | ) edition.cnn.com time to read: +5 min

Among them, Dubai-based Syrian Ahmad Alkattan has created a cocoon-style intimate outdoor social space where designers can “hatch” their ideas. Alkattan’s design is part of the annual Dubai Design Week and won first place in its Urban Commissions competition, which invites designers and architects to develop innovative outdoor furniture. This year, more than 30 designs for installations submitted for DDW have been built in the city’s Design District. Dubai Design WeekAhead of the upcoming COP28 climate conference in Dubai, the theme for this year’s design week emphasizes sustainable practices and materials. “So [the competition] is a very relevant project not just for what is staged in Dubai Design Week, but where we can see this in the future.”Designest is Alkattan’s third attempt at winning the Urban Commissions category.

Persons: Ahmad Alkattan, “ Designest, Alkattan, Designest, “, I’ve, Mette Degn, Christensen, DDW, it’s, ”, Abdalla, TEE VEE, Degn Organizations: CNN, Design, Dubai Design, DDW, Mitsubishi, Tea Locations: Dubai, Dubai —, Venice, Arabi, UAE

☆ Why Meta, X and TikTok face more pressure from Europe than the U.S. on Israel-Hamas war disinformation
▼ + stars: | 2023-10-13 | by ( Lauren Feiner | ) www.cnbc.com time to read: +6 min

Days after the Israel-Hamas war erupted last weekend, social media platforms like Meta , TikTok and X (formerly Twitter) received a stark warning from a top European regulator to stay vigilant about disinformation and violent posts related to the conflict. In that case, the AGs argued that the Biden administration was overly coercive in its suggestions to social media companies that they remove such posts. In the U.S., "we can't have government officials leaning on social media platforms and telling them, 'You really should be looking at this more closely. Under the DSA, large online platforms must have robust procedures for removing hate speech and disinformation, though they must be balanced against free expression concerns. A series of letters from New York AG Letitia James to several social media sites on Thursday exemplifies how U.S. officials may try to walk that line.

Persons: Thierry Breton, Breton, Elon Musk, Biden, David Greene, they're, Kevin Goldberg, Goldberg, Christoph Schmon, Greene, New York AG Letitia James, James Organizations: Digital Services, Republican, AGs, White, Federal Bureau of, Electronic Frontier Foundation Civil, Freedom, EFF, DSA, New York AG, Google, CNBC, YouTube, EU's, Twitter Locations: Israel, U.S, New, Europe

☆ IMF team to begin meeting officials in Ukraine
▼ + stars: | 2023-10-01 | by ( ) www.reuters.com time to read: +1 min

The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. The IMF said last week its mission had begun its second review of a $15.6 billion multi-year loan program for the country. The four-year programme for Kyiv is part of a $115-billion global package to support the economy as Ukraine battles Russia's invading forces. "An IMF team, led by Uma Ramakrishnan, Deputy Director of the Fund's European Department, starts meetings today in Kyiv with the Ukrainian authorities and other stakeholders," Stepanyan said in a statement. "The high-level engagement will focus on policy goals and challenges in the context of Ukraine’s program supported by the IMF Extended Fund Facility (EFF) Arrangement."

Persons: Yuri Gripas, Vahram Stepanyan, Uma Ramakrishnan, Stepanyan, Pavel Polityuk, Hugh Lawson Organizations: Monetary Fund, REUTERS, Rights, IMF, Fund's European Department, Fund, Thomson Locations: Washington , U.S, Ukraine, Russia, Kyiv

☆ The CEO of Verge Genomics shares how she's overcome gender and age biases in biotech by showing people 'there can be a new way of doing things'
▼ + stars: | 2023-08-17 | by ( Josée Rose | ) www.businessinsider.com time to read: +15 min

In the latest Equity Talk, she shares how she's overcoming biases in the VC and biotech fields. Verge Genomics works with data derived from brains and spinal cords donated by people after they die. That's really been helpful because they don't necessarily see the same kind of questions. But I think part of that is just showing them that there can be a new way of doing things. I think that's an area where naivete can be a benefit, when you have big technological hurdles to overcome.

Persons: Alice Zhang, Zhang, it's, It's, That's, I've, we're, I'm, who's, There's, Alice, aren't, they're, that's unarguable, — Organizations: Genomics, Morning, Verge Genomics, Eff, pharma, Tech

☆ Complaints about Elon Musk's giant light-up 'X' sign accused the company of creating a 'massive nighttime nuisance' and showing 'zero respect' for its neighbors
▼ + stars: | 2023-08-01 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

San Francisco got 24 complaints about the giant light-up sign on X's HQ, CNN reported. San Francisco's Department of Building Inspection got 24 complaints about the giant light-up "X" sign Elon Musk placed on the headquarters of the company formerly known as Twitter, the department's spokesperson told CNN. "That new 'X' sign looks really unstable and sketchy," one complaint reads. A crane was used to remove some of the letters from the old sign on the company's San Francisco HQ. The notice ordered X to stop the work and either obtain a building permit for the sign or dismantle it, which also requires a building permit.

Persons: Elon Musk's, Elon Musk, Musk, Justin Sullivan Organizations: CNN, Morning, San Francisco's Department, Twitter, San Francisco, ., of Locations: Francisco, San Francisco

☆ How to save San Francisco
▼ + stars: | 2023-07-16 | by ( Adam Rogers | ) www.businessinsider.com time to read: +18 min

But treating San Francisco as some sort of outlier, a sui generis example of urban decay, is wrong, too. After I washed out back there I washed up on the Embarcadero, a typical San Francisco story. Because here's my one crazy trick to fix San Francisco: homes. Paul Chinn/The San Francisco Chronicle via Getty ImagesThis is just a matter of good old-fashioned supply and demand. To revive the city, San Francisco needs to get back to its freak-flag-flying roots.

Persons: Nobody's, I've, It's, it's, who'd, Paul Chinn, nix, aren't, rafter, Tayfun, Francis Wood, fixable, Berkeley, Adam Rogers Organizations: Liberal, Homelessness, Bay Area, Pride, Black Panthers, Washington Monthly, San Francisco, Getty, SF, Supervisors, Crafts, Planners, Foods, Anadolu Agency, Walgreens, Nordstrom, Unit Locations: San Francisco, Bay, Francisco, California, Black, Los Angeles, Boston , New York, Washington, United States, Barcelona, Paris, St, Barbary, Hong Kong, Mexico City, Angeles, Houston, Helsinki, East, Treasure, Emeryville

☆ San Francisco’s ‘doom loop’ is a warning for every American city. Here’s how we can fix it — before it’s too late.
▼ + stars: | 2023-07-16 | by ( Adam Rogers | ) www.businessinsider.com time to read: +18 min

If you want to rile up a San Francisco native, mention the doom loop. But treating San Francisco as some sort of outlier, a sui generis example of urban decay, is wrong, too. After I washed out back there I washed up on the Embarcadero, a typical San Francisco story. Because here's my one crazy trick to fix San Francisco: homes. To revive the city, San Francisco needs to get back to its freak-flag-flying roots.

It is not the end of our relationship with the IMF though, as the SBA is a short-term bridging operation. GARETH LEATHER, SENIOR ASIA ECONOMIST AT CAPITAL ECONOMICS, LONDON"The agreement of a loan deal between Pakistan and the IMF should put the economy back on a more secure footing and limit the biggest downside risks. There is a strong risk that Pakistan reneges on the deal once the immediate crisis has passed. Our target shall be that the next IMF programme should be the last one and it would be a great opportunity to correct our fiscal account once and for all." "Things would have been much better if successive governments would have invested in completing the IMF programme.

Persons: MURTAZA SYED, GARETH, Shehbaz Sharif, ABDUL ALEEM, SHERANI, SHAHBAZ ASHRAF, MAHA RAHMAN, ZAFAR MASUD, MUSTAFA PASHA, SHAHID HABIB, ARIF HABIB, ZULQARNAIN, MOHAMMED SOHAIL, AHFAZ MUSTAFA, ISMAIL IQBAL, SAJID AMIN JAVED, Ariba Shahid, Shilpa Jamkhandikar, Raju Gopalakrishnan Organizations: Monetary Fund, South, IMF, BANK OF PAKISTAN, SBA, State Bank, EFF, Capital, UL HAQ, OF PUNJAB, Pakistan, ARIF, Thomson Locations: Pakistan, ASIA, KARACHI, ISLAMABAD, LAHORE, PAKISTAN

☆ Pakistan's last-gasp IMF bailout as it happened
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +3 min

-Nov 2023: Pakistan, IMF begin virtual engagement for the ninth review of the loan programme. -Jan 2023: Pakistan reiterates commitment to completing the IMF programme in a meeting on the sidelines of a climate conference in Geneva. -Feb 2023: Pakistan, IMF decide to resume talks virtually on steps needed to secure an agreement for the ninth review. -May 2023: IMF mission chief says continuing to work with Pakistani authorities to bring the ninth review to conclusion once necessary financing is in place. -June 26, 2023: Pakistan's central bank raises its benchmark interest rate by 100 basis points to 22% at an emergency meeting days before IMF programme expires.

Persons: Imran Khan, Shehbaz Sharif, Miftah Ismail, Ishaq Dar, Pakistan's, Kristalina Georgieva, Ariba Shahid, Tanvi Mehta, Raju Gopalakrishnan Organizations: International Monetary Fund, IMF, Pakistan, SBA, EFF, Thomson Locations: KARACHI, Pakistan, Geneva, Paris, Pakistan's, Karachi, New Delhi

☆ Factbox: What Pakistan needs to do under the IMF programme
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +3 min

KARACHI, Pakistan, June 30 (Reuters) - The International Monetary Fund and Pakistan have struck a staff-level agreement for the provision on $3 billion in bailout funds under a stand-by arrangement (SBA). The deal comes under an SBA instead of Pakistan's Extended Fund Facility (EFF) programme that the country entered in 2019 and which was set to expire on Friday. MORE FUNDING- Despite the larger than expected IMF bailout, the agreement stressed that Pakistan will have to continue to mobilise multilateral and bilateral financial support. Over $9 billion in climate-related pledges were made to help Pakistan recover from devastating floods in 2022. - Pakistan needs $22 billion to fund its external payment obligations, including international debt servicing, in the financial year 2024, that starts on Saturday, July 1, and ends on June 30, 2024.

Persons: Gibran Peshimam, Raju Gopalakrishnan Organizations: Monetary Fund, SBA, IMF, EFF, United Arab Emirates, Thomson Locations: KARACHI, Pakistan, Saudi Arabia, China

ISLAMABAD, June 25 (Reuters) - Pakistan's parliament on Sunday approved the government's 2023-24 budget which was revised to meet International Monetary Fund conditions in a last ditch effort to secure the release of more bailout funds. The IMF in mid-June expressed dissatisfaction with the country's initial budget, saying it was a missed opportunity to broaden the tax base in a more progressive way. The revised budget was approved a day after Finance Minister Ishaq Dar introduced new taxes and expenditure cuts. There are five days to go before the $6.5 billion Extended Fund Facility (EFF) agreed in 2019 expires on June 30. The IMF has to review whether to release some of the $2.5 billion still pending to Pakistan before then.

Persons: Ishaq Dar, Raja Pervaiz Ashraf, Dar, Shehbaz Sharif, Kristalina Georgieva, Asif Shahzad, Emelia Sithole Organizations: Sunday, International, Fund, IMF, Thomson Locations: ISLAMABAD, Pakistan, Paris

[1/2] Pakistan Prime Minister Shehbaz Sharif meets with managing director of the International Monetary Fund (IMF), Kristalina Georgieva, in Paris, France June 22, 2023. Press Information Department (PID)/Handout via REUTERSJune 22 (Reuters) - Pakistan's Prime Minister Shehbaz Sharif on Thursday briefed International Monetary Fund's managing director Kristalina Georgieva on the economic outlook of the cash-strapped South Asian nation, hoping for the release of critical stalled funds. Under the $6.5 billion EFF's 9th review, concluded earlier this year, Pakistan has been trying to secure $1.1 billion of funding that has been stalled since November. "The Prime Minister expressed the hope that the funds allocated under the IMF's EFF would be released as soon as possible," said a statement from his office. Pakistan has defended the budget, but at the same time offered to review it in any further talks with the IMF.

Persons: Shehbaz Sharif, Kristalina Georgieva, Sharif, Asif Shahzad, Shilpa Jamkhandikar, Sudipto Ganguly, Christina Fincher Organizations: Pakistan, International Monetary Fund, Press Information Department, REUTERS, Pakistan's, Monetary, Global Financing, EFF, Thomson Locations: Paris, France, Pakistan, Islamabad

June 15 (Reuters) - The International Monetary Fund (IMF) on Thursday expressed dissatisfaction with Pakistan’s recently presented budget, a blow for the cash-strapped country which has only two weeks left until its bailout programme expires. However, the draft FY24 Budget misses an opportunity to broaden the tax base in a more progressive way," Esther Perez Ruiz, the IMF's resident representative for Pakistan, said in a text message to Reuters. "The new tax amnesty runs against program’s conditionality and governance agenda and creates a damaging precedent," added Perez Ruiz. She said that measures to address the energy sector’s liquidity pressures could be included alongside the broader budget strategy. Added Perez Ruiz: "The IMF team stands ready to work with the government in refining this Budget ahead of its passage," implying the country still has a chance to unlock its ninth IMF board review prior to the end of the EFF programme.

Persons: Pakistan’s, Esther Perez Ruiz, program’s, Perez Ruiz, Bharat Govind Gautam, Jonathan Oatis, Matthew Lewis Organizations: Monetary Fund, IMF, Fund, FX, Staff, Reuters, EFF, Thomson Locations: Pakistan, Bengaluru, Shahid, Karachi

☆ America's best bet for banning TikTok would have terrible side effects
▼ + stars: | 2023-04-19 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +7 min

As talk of a TikTok ban builds, the leading legislation with bipartisan support is the RESTRICT Act. Here's why the RESTRICT Act has some people so worried — and what the experts say might be a better approach. The type of data TikTok collects is similar to what Facebook or Twitter collect from its users. What would actually solve the concerns about the Chinese government getting US user data is comprehensive data privacy legislation, he and other experts said. "What we're saying is that if you're concerned about the Chinese government getting user data from TikTok," Greene said.

BUENOS AIRES, March 31 (Reuters) - The International Monetary Fund (IMF) approved Argentina's fourth review under its $44 billion loan program on Friday, unlocking the disbursement of $5.4 billion to the indebted country, the lender said in a short statement. The country's central bank foreign reserves jumped by $2.5 billion on Friday versus a day earlier, data from the bank showed. That reflected the new IMF funds minus $2.7 billion of repayments Argentina had to make to the lender on Friday. A central bank source told Reuters the funds had arrived and been reflected in reserve levels. Reporting by Jorge Otaola, Rodrigo Campos and Jorgelina do Rosario; Writing by Adam JourdanOur Standards: The Thomson Reuters Trust Principles.

WASHINGTON, March 31 (Reuters) - The International Monetary Fund said on Friday its executive board approved a four-year $15.6 billion loan program for Ukraine, part of a global $115 billion package to support the country's economy as it battles Russia's 13-month-old invasion. The Extended Fund Facility (EFF) loan is the first major conventional financing program approved by the IMF for a country involved in a large-scale war. Ukraine's previous, $5 billion long-term IMF program was canceled in March 2022 when the fund provided $1.4 billion in emergency financing with few conditions. The latest loan is expected to unlock about $100 billion worth of additional international support for Ukraine. An IMF official said the $115 billion package includes the IMF loan, $80 billion in pledges for grants and concessional loans from multilateral institutions and other countries, and $20 billion worth of debt relief commitments.

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