Commentary Since the fadeout of the first round of the banking crisis, the market has calmed down as if nothing had happened. Recession probability edged up, but most believe advanced economies would be in more trouble than emerging economies. This has also been the standard tone of international organizations like the International Monetary Fund (IMF)….
IMF Forecasts India, China Will Be ‘Major Engines’ of Global Growth in 2023
The International Monetary Fund (IMF) projected that India and China would contribute half of the global growth this year, compared to just a tenth for the United States and eurozone combined. The Indian economy is expected to grow 6.1 percent this year, down from 6.8 percent in 2022, before it rebounds to 6.8 percent in…
Bank of England Intervenes to Calm Markets as UK Borrowing Costs Soar
The Bank of England, Britain’s central bank, has sought to restore financial stability with an emergency bond-buying programme, after the government’s new fiscal policy caused the pound to dive and borrowing costs to soar. The British pound on Monday plunged by more than 4 percent to just $1.03, an all-time low. It recovered to about…
IMF Urges UK to ‘Reevaluate’ Tax-Cutting Measures After Drop in Pound
The International Monetary Fund (IMF) has urged the UK government to “reevaluate” its strategy to boost economic growth with massive tax cuts funded by borrowing, which has spooked the markets and caused the pound to plunge. The British pound on Monday plunged by more than 4 percent to just $1.03, an all-time low. It recovered…
Sri Lankan President Appoints 8 Investment Committees After Securing Initial IMF Deal
Sri Lanka’s president on Thursday appointed eight task forces to explore investment prospects after reaching a preliminary deal with the International Monetary Fund (IMF) for a $2.9 billion bailout fund. President Ranil Wickremesinghe appointed public and private sector leaders to serve on task forces that will oversee procedures, regulations, and actions of government agencies involved…
Flood-Hit Pakistan Saved From Default as IMF Approves Revival of Bailout Funds
The International Monetary Fund (IMF) board on Monday approved the revival of a bailout loan program for Pakistan, whose economy has been worsened by monsoon floods. The IMF’s approval will allow an immediate disbursement of $1.1 billion to Pakistan. Finance Minister Miftah Ismail took to Twitter to express his gratitude for Prime Minister Shehbaz Sharif’s…
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