LONDON/NEW YORK—The International Monetary Fund (IMF) and Argentina reached a staff-level agreement on the fourth review of their $44 billion loan program, the IMF said in a statement on Monday, confirming that some economic targets for the country could be eased. The IMF staff said that adjustments were being requested to key targets to build…
The IMF’s Asia Forecast Misses a Lot
March 6, 2023
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Asia & PacificBusiness & MarketsChina’s reopeningforecastIMFOpinionreal growthreopeningThinking About ChinaWorld
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Commentary New projections on Asian growth from the International Monetary Fund (IMF) paint a bright picture—too bright, in fact. The organization relies on the positive effects of China’s reopening to forecast not only rapid real growth for China but also for other Asian economies, including India, Vietnam, Bangladesh, and Mongolia. Though there can be little…
Climate Activists Set to Take Control of the World Bank
February 28, 2023
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Australia-IndonesiaBusiness & MarketsBusiness ColumnistsChinaChina Development BankChina-Pakistan Economic CorridorDavid Malpassdevelopment bankIMFIndonesiaWorld Bank
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Commentary A change at the World Bank signals change in both U.S. development policy to climate concerns and, possibly, creates a geostrategic risk for the United States. David Malpass, the head of the World Bank, has announced he would leave the office in June, a year before his term was to expire. Malpass, who had been…
IMF Opposes Making Cryptocurrency Legal Tender
February 24, 2023
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Business & MarketsCBDCscryptocurrenciescryptocurrencyeconomic policieseconomyIMFInternationalMarketspersonal financeUSWorld
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The International Monetary Fund (IMF) recommended that cryptocurrencies like Bitcoin should not be legal tender, and issued an action plan to member states. The IMF released a nine-point action plan on Feb. 24 on how countries could suppress the popular use of crypto assets. On Feb. 8, the financial agency’s executive board provided guidance to IMF…
IMF Says World Needs to Prepare for the ‘Unthinkable’ After COVID, War in Ukraine
February 14, 2023
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Business & MarketsCOVIDeconomyEuropeIMFInternationalKristalina GeorgievaRussia-Ukraine WarUkraineWorld
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International Monetary Fund Managing Director Kristalina Georgieva has warned that the world needs to be prepared to better handle shocks and “the unthinkable” in a post-COVID-19 world and in light of the ongoing Russia-Ukraine war. Georgieva made the comments during a World Government Summit panel hosted by CNBC’s Hadley Gamble in Dubai on Feb. 14, where she…
IMF Calls for Stronger Climate Change Propaganda to Boost Flagging Public Support
The International Monetary Fund has called for stronger climate change propaganda, after noting a lack of public interest for their costly solutions. The United Nations-run financial agency has been attempting to drum up support through various polls to propagate climate change ideology and convince people around the world to get on board. Although a majority…
IMF Chief Fears the ‘Unthinkable’ in America’s Debt-Ceiling Standoff
International Monetary Fund chief Kristalina Georgieva weighed in on the U.S. debt-ceiling standoff, warning in a recent interview that unless U.S. lawmakers take negotiations “very seriously,” then an “unthinkable” debt default can happen, with “very damaging” effects, including even higher interest rates and inflation. Georgieva made the remarks during an interview on CBS that aired…
UK Expected to Be Only Major Economy to Contract in 2023: IMF
The UK will be the only major economy to shrink this year, performing worse even than sanction-hit Russia, the International Monetary Fund (IMF) has warned. In its latest World Economic Outlook update, the IMF upped its growth outlook for the global economy, but downgraded its UK GDP forecast once again, predicting a contraction of 0.6…
Pakistan’s Rupee Falls to Record Low as Government Seeks Release of IMF Loan
Pakistan’s currency plunged to an all-time low against the U.S. dollar on Thursday after the government lifted its exchange cap in a move to revive a bailout package from the International Monetary Fund (IMF). The rupee closed at 255.4 against the dollar on Thursday, down from the 230.89 rupees the previous day, according to the…
Sri Lanka Secures India’s Support for IMF Deal, China’s Approval Pending
Sri Lanka has secured India’s support for its debt restructuring plan, a key to Sri Lanka securing a $2.9 billion bailout package from the International Monetary Fund (IMF), but it still requires support from its biggest bilateral lender, China. Indian External Affairs Minister Subrahmanyam Jaishankar said Friday that India will extend financing assurances to the…
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