A new central bank digital currency (CBDC) was launched at a recent event held by the International Monetary Fund (IMF), with some raising concerns about a “globalist agenda” behind the currency. The universal monetary unit (UMU), created by the Digital Currency Monetary Authority (DCMA), was officially launched on April 10 at the International Monetary Fund’s…

Treasurer Jim Chalmers says Australia is on track to avoid a recession despite the nation’s outlook being downgraded and a stalling international economy. The International Monetary Fund delivered a downbeat prediction for the global economy in its latest outlook, warning high inflation coupled with financial system turmoil could bring near-recession conditions. Chalmers said neither Treasury…

The recent collapse of Silicon Valley Bank (SVB) and the rescue of Credit Suisse by rival UBS show that risks to global financial stability have increased, International Monetary Fund (IMF) chief Kristalina Georgieva said at a conference in Beijing on March 26. Speaking at the 2023 China Development Forum in the capital, Georgieva warned that rapid interest rate hikes by the Federal Reserve combined with…

China has reportedly offered Sri Lanka a two-year debt moratorium as “an immediate contingency measure” to support Sri Lanka in securing a $2.9 billion bailout package from the International Monetary Fund (IMF). In a letter sent to Sri Lanka’s Finance Ministry on Jan. 19, the Export-Import Bank of China said that it would grant a…

The IMF is warning of tough times ahead for the global economy this year. What is it predicting for the US, Europe, and China? To start off the new year, drugmakers are hiking prices on around 400 different drugs. Big increases on drugs that treat cancer and arthritis. Elon Musk takes a jab at famous American…

Kristalina Georgieva, managing director of the International Monetary Fund (IMF), recently predicted that many nations would go into recession next year, with the United States potentially able to avoid it. The IMF is expecting 2023 to be a “tough year” for the world economy, even “tougher than the year we leave behind,” Georgieva said on…

The International Monetary Fund expects Australia to dodge a recession but has downgraded its expectations for growth next year. The United Nations agency anticipates growth slowing to 1.7 per cent in 2023—less than the 1.9 per cent forecast in its world economic outlook released last month. In its annual health check on the Australian economy,…

Ukraine needs between $3 billion and $4 billion a month in financial help to ensure its government does not collapse amid its ongoing conflict with Russia, the International Monetary Fund (IMF) said on Wednesday. “Indeed, the Ukrainian authorities have done an impressive job in managing their economy through extremely difficult circumstances following Russia’s invasion,” IMF Managing Director Kristalina Georgieva said…

Inflation slowed down a little in July compared to June. Economists explain where they think the next numbers may be headed. Global climate reporting rules are being proposed, but an expert tells us there’s more behind the push. Elon Musk sells billions of dollars worth of Tesla shares, amid uncertainty over the Twitter deal. Domino’s Pizza is…

The global economy faces “the biggest test since the Second World War” said International Monetary Fund (IMF) chiefs in a post Sunday, as world leaders convene May 23–26 in Davos, Switzerland, for the World Economic Forum (WEF) Annual Meeting 2022. Russia’s invasion of Ukraine has exacerbated the COVID-19 crisis, destroying lives and economic growth while…