Tag: IMF

NEWS

IMF Paints Gloomy World Economic Outlook

WASHINGTON — World economic growth is slowing, and the prospects for a quick recovery are gloomy, the International Monetary Fund said Tuesday. The IMF said it expects growth to slow from last year’s 6.1% advance across the globe to 3.2% this year, four-tenths of a percentage point lower than it forecast in April. “A tentative recovery in 2021 has been […]

NEWS

Caribbean Encouraged To Tap Into IMF’s Resilience And Sustainability Trust

International Monetary Fund (IMF) Caribbean Member Countries are being encouraged to lead take-up of the institution’s multibillion-dollar Resilience and Sustainability Trust (RST). The RST is aimed at helping countries build resilience against external shocks and ensure sustainable growth, contributing to their long-term balance of payments stability. Managing Director, Kristalina Georgieva, said that Caribbean countries are ideally positioned to tap into […]

NEWS

Barbados Prime Minister Mia Mottley Calls For World Bank Reform

Barbados Prime Minister Mia Mottley has called for a change in the operations of the World Bank. The Prime Minister has urged the World Bank to adopt a similar outlook to the International Monetary Fund (IMF) in how it treats with business in a changing global environment. Miss Mottley told a panel discussion that the World Bank is still a […]

BUSINESS

IMF — Economy Faces Biggest Crisis Since Second World War

According to the International Monetary Fund (IMF) Managing Director Kristalina Georgieva, the world’s economy faces perhaps its biggest test since the Second World War. Her statement comes against Russia’s invasion of Ukraine and the economic havoc caused by the COVID-19 pandemic. She argued that the global economy is being brought to the edge of a precipice by crisis upon crisis. […]

NEWS

Top News Headlines Around The World

IMF: Rising Food And Fuel Prices Stoke Risk Of Unrest In Africa Experts have been sounding the alarm that the Ukraine conflict could lead to food insecurity across parts of Africa. Surging food and energy prices stoked by the war in Ukraine may lead to “social unrest” in Africa, the International Monetary Fund has warned. Read more at — Aljazeera.com […]

BUSINESS

IMF Warns Of U.S. Dollar Dominance Dilution

The International Monetary Fund (IMF) has warned that financial sanctions imposed on Russia threaten to dilute the dominance of the U.S. dollar gradually and could result in a more fragmented international monetary system. According to a Financial Times report, the IMF’s First Deputy Managing Director Gita Gopinath said, “The dollar would remain the major global currency even in that landscape […]

NEWS

IMF Approves $1.4 Billion Emergency Funding For Ukraine

The International Monetary Fund (IMF) has approved $1.4 billion of emergency funding for Ukraine, as the country contends with the onslaught of Russian firepower in an unprovoked invasion. It comes as the IMF predicts Ukraine will see a deep recession this year. Earlier, the World Bank approved a $732 million financial package for Ukraine and is planning more economic assistance […]

NEWS

The Caribbean And Other Developing Countries Set To Get U.S. Debt Relief

According to a CMC report, a bill has been passed in the U.S. House of Representatives to support debt relief for the Caribbean and other developing countries. Congresswoman Alexandria Ocasio-Cortez told the Caribbean Media Corporation the measure was passed in the House on Friday as part of the America COMPETES Act.   The legislation among other things places a moratorium […]

NEWS

Top News Headlines Around The World

A Generation Will Bear The Scars Of COVID — IMF A new assessment coming from International Monetary Fund (IMF) staff proffers the idea that, while fewer of the young have died due to COVID-19, they might bear the scars of the novel coronavirus pandemic for years. IMF writer Ruchir Agarwal said in a blog published on Friday, “While the coronavirus […]

BUSINESS

IMF Takes A Different Look At Global Growth

The International Monetary Fund (IMF) has downgraded its global growth forecast for this year as rising COVID-19 cases, supply chain disruptions, and higher inflation hamper economic recovery. In its delayed World Economic Outlook report, published on Monday, the IMF said it expects global gross domestic product to weaken from 5.9% in 2021 to 4.4% in 2022 — with this year’s […]