TOKYO—The yen’s recent declines have been driven by fundamentals and would be no reason for Japan to change its economic policy, including the central bank’s ultra-low interest rates, a senior International Monetary Fund (IMF) official said. The remarks highlight the difficulty Tokyo may face if it sought international consent to intervene in the currency market…
IMF Says Yen Falls Driven by Fundamentals, Urges BOJ to Keep Easy Policy
April 22, 2022
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Asia & PacificBank of JapanBusiness & EconomyeconomyIMF - International Monetary FundInternationalMarketsUSUS NewsWorldYen policy
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Oil Range-Bound Following IMF Prediction of Lower Global Growth
April 20, 2022
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Business & Economycommoditiesglobal oil pricesIMF - International Monetary FundMarketsRussia Ukraine invasionRussian Oil Trade
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Oil prices were trading range-bound on Wednesday after the International Monetary Fund (IMF) scaled down its global growth projections for 2022. Prices fluctuated as it received support from concerns about tighter supplies. Brent oil futures were trading at around $108.20 per barrel as of 13:42 UTC on April 20, very near to its opening price….
Rising Shipping Costs Threaten to Raise Prices Around the World, Says IMF
March 29, 2022
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Business & EconomyBusinesses in COVID-19CCP VirusChinaChina Business & Economyeconomic policieseconomyIMF - International Monetary FundinflationMarketsRussia-Ukraine crisisshipping rateUncategorized
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The two-year global supply crisis is beginning to worsen again this month after easing due to the waning of the pandemic, as war in Ukraine and CCP virus lockdowns raise shipping costs and slow growth, according to the International Monetary Fund (IMF) on March 28. “The sea carries more than 80 percent of the world’s…
Global Economy Could Split Between US Dollar, Other Currencies: IMF Deputy Chief
March 23, 2022
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Business & EconomyeconomyEuropeForexGita GopinathIMF - International Monetary FundInternationalMarketsRussia-Ukraine WarUS DollarWorld
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The Russia–Ukraine War could trigger a fragmentation in global payment systems, deputy head of the International Monetary Fund (IMF) Gita Gopinath said during a March 22 virtual discussion, indicating a possible global shift away from the U.S. dollar. “What we are seeing around the world is increasing fragmentation of payment systems that probably will further…
Sri Lanka Secures $1 Billion Credit Line From India in Bid to Stem Economic Crisis
India has extended a $1 billion credit line to debt-ridden Sri Lanka, offering support to the island nation as it attempts to ease its worst economic crisis in years. India signed an agreement to offer Sri Lanka a $1 billion short-term concessional loan facility during Finance Minister Basil Rajapaksa’s visit to New Delhi on Thursday,…
Ukraine War Will Lower Global Growth Says IMF, Russian Economy Could Contract 15 Percent in 2022
March 11, 2022
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Business & EconomyEuropeglobal growth concernsIMF - International Monetary FundMarketsRussia Ukraine invasionRussia-Ukraine WarRussian economy is set to shrinkWorld
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The International Monetary Fund (IMF) is expected to cut down its global growth forecast for 2022 due to Russia’s invasion of Ukraine, according to the managing director of the agency, placing a damper on the post-pandemic economic recovery that was critical to many nations. “We think that we would be downgrading our growth projections as…
IMF Approves $1.4 Billion Emergency Loan for Ukraine
March 9, 2022
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Business & EconomyeconomyEuropeIMF - International Monetary FundPutinRussiaRussia-Ukraine WarUkraineWorld
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The International Monetary Fund (IMF) on Wednesday approved a $1.4 billion emergency loan for Ukraine to help mitigate the economic impact of Russia President Vladimir Putin’s invasion. “The Russian military invasion of Ukraine has been responsible for a massive humanitarian and economic crisis,” IMF Managing Director Kristalina Georgieva said in a statement after a meeting…
Emerging Economies Must Take Precautionary Measures Against US Rate Hikes: IMF
January 11, 2022
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Business & Economyeconomic policiesemerging economiesIMF - International Monetary Fundinterest rate hikePolicies & ImpactsUSWorld
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Emerging economies across the world must prepare for interest rate hikes in the U.S. based on their circumstances and vulnerabilities, said the International Monetary Fund (IMF), as ripple effects of the hike could result in adverse feedback loops like financial instability, currency depreciation, and rapid inflation. Surging prices, tight labor market, and Omicron-related disruptions have led…
Israel’s Finance Ministry Leads 10 Countries in Simulation of Cyber Attack on Global Financial System
December 10, 2021
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Business & Economycyber securityeconomic policieseconomyfinancial marketsIMF - International Monetary FundInternationalMarketsTechWorld
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The Israeli Ministry of Finance hosted a simulation of a major cyberattack on the global financial system on Dec. 9, with representatives from ten countries and other financial institutions, in a multinational security exercise called “Collective Strength.” The exercise was aimed at increasing international “cooperation that could help to minimize any potential damage to financial markets and banks,”…
Fiscal Pressures Rise Amid Bloated Debt Levels, OECD Warns
The coronavirus pandemic may have contributed to soaring public debt levels, leaving many governments facing fiscal pressures in the coming decades, the OECD warned in a new report Tuesday. According to the Organization for Economic Cooperation and Development’s economic outlook to 2060, governments worldwide must grapple with the costs of repaying debt generated to support…
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