Source link The Biden administration’s fiscal policy is a cause for concern, according to a report The International Monetary Fund (IMF) has raised concerns about overspending by the US government, warning it has been reigniting inflation risks and undermining financial stability around the world. The US federal budget deficit jumped from $1.4 trillion in fiscal […]
Source link Any decisions on the funds should be backed with “sufficient legal support” to avert future risks, according to a spokesperson Any steps towards seizing Russia’s frozen reserves should be backed by “sufficient legal support,” IMF spokesperson Julie Kozack said at a regular briefing on Thursday. The EU and other G7 nations have blocked […]
Source link Nearly $7 billion worth of aid could be jeopardized if the legislation is signed into law Ghana could lose $3.8 billion of World Bank funding if its anti-LGBTQ legislation is signed into law, the West African nation’s Finance Ministry has warned. A $3 billion IMF loan package could also be jeopardized, it claimed […]
Source link The country’s GDP surged 8.4% between October and December 2023, data has shown India is the world’s fastest-growing economy and its expansion in the final quarter of last year exceeded expectations, according to International Monetary Fund (IMF) executive director Krishnamurthy Subramanian. Indian gross domestic product (GDP) grew 8.4% between October and December 2023, […]
Source link Argentina is in talks with the IMF over a new aid program designed to accelerate the process of exiting from capital controls, Bloomberg reported on Thursday, citing a senior government official. The IMF is pushing the government to let the currency devalue faster under its so-called “crawling peg,” and keep interest rates above […]
Source link The National Labor Congress claims that borrowing from the international financial institutions is worsening an economic crisis Nigerian government workers and several other groups, including traders and students, staged nationwide protests on Tuesday, demanding that the government address the country’s escalating economic crisis. The National Labor Congress (NLC), which organized the demonstrations, has […]
Source link Plans to release the tranche come as the US aid package for Kiev remains stalled in Congress The International Monetary Fund could agree to unlock $900 million for Ukraine as soon as Thursday, Bloomberg has reported, citing officials with knowledge of the talks. The disbursement would be part of a four-year $15.6 billion […]
Source link A senior official with the fund has called for an assessment of the legal grounds before the immobilized reserves are seized Any steps towards seizing Russia’s frozen reserves should be backed by “sufficient legal support,” IMF First Deputy Managing Director Gita Gopinath has warned in an interview with Foreign Policy magazine published on […]
Source link The Washington-based fund had previously been criticized for its optimistic assessment of Russia’s economy The Russian economy has been growing faster than many economists projected, IMF First Deputy Managing Director Gita Gopinath admitted on Monday in an interview with Foreign Policy magazine. Russian GDP climbed by 3.6% in 2023 and the country’s authorities […]
Source link The shipping disruptions are pressuring prices but not to the point that inflation projections should be hiked, Kristalina Georgieva says The Houthi rebel attacks on vessels in the Red Sea have had a significant impact on insurance and shipping rates, but have so far not affected global economic growth prospects, Kristalina Georgieva, the […]
Source link Kiev hopes to unlock money from the Washington-based institution even if the US aid package remains stalled Ukraine is considering a contingency plan to secure money from the IMF if the $60 billion US aid package to Kiev remains blocked, Bloomberg reported on Friday, citing people familiar with the matter. According to the […]
Source link The economy is projected to grow much more rapidly this year than previously expected The IMF significantly raised its growth forecast for the Russian economy in 2024 in its latest World Economic Outlook update released on Tuesday. The Washington-based institution now expects Russian GDP to grow by 2.6% this year, a sharp increase […]
Source link The South American country’s economy is now projected to contract for a second straight year The International Monetary Fund (IMF) has revised down its economic outlook for Argentina, forecasting a second straight year of negative growth amid President Javier Milei’s push for what the IMF report calls a “significant policy adjustment” in his […]
Source link Nearly 40% of jobs across the globe could be affected by the rise of artificial intelligence (AI), with high-income economies more exposed than emerging markets and low-income countries, the IMF has warned in a new report. In a blog post over the weekend, IMF chief Kristalina Georgieva called for governments to tackle the […]
Source link Global economic growth will get a boost this year from a stronger-than-anticipated 2023, Kristalina Georgieva, the managing director of the International Monetary Fund (IMF), said on Tuesday as cited by Bloomberg. The projection follows the IMF’s less optimistic October outlook, when it said that global growth will continue to slow to 3.0% in […]