IMF
- Economy
US dollar ‘cannot be trusted,’ former IMF executive tells RT
The international monetary system based on the US dollar is becoming increasingly “dysfunctional,” prompting BRICS countries to consider creating their own currency, Brazil’s former representative at the International Monetary Fund (IMF), Paulo Nogueira Batista Jr., has told RT. According to Batista, even though the greenback will remain an important global legal tender, the currency can no longer be trusted. Speaking…
Read More » - Economy
IMF warns of sharp increase in grain prices
Global grain prices could jump by as much as 15% after Russia declined to renew the Black Sea Grain Initiative last week, Bloomberg reports, citing the IMF’s chief economist. Pierre-Olivier Gourinchas told reporters on Tuesday that the Black Sea Grain Initiative was “very instrumental” in ensuring ample grain supply in the last year, and the termination of the agreement is…
Read More » - Economy
IMF raises Russian GDP outlook again
The International Monetary Fund (IMF) has raised its growth forecast for the Russian economy in 2023 in its World Economic Outlook report released on Tuesday. Russia’s GDP is expected to grow 1.5% this year, an upwards revision from the 0.7% increase that the IMF predicted in its April report. IMF chief economist Pierre-Olivier Gourinchas acknowledged that Russia was able to…
Read More » - Russia
Communists submit bill for Russia to leave IMF, World Bank
MPs from Russia’s Communist Party have sponsored a bill that seeks to terminate the nation’s participation in major Western-dominated international financial organizations, including the International Monetary Fund (IMF) and World Bank. The cabinet, however, opposed the proposal, citing the risks that doing so would entail. Russia joined the IMF and World Bank Group in 1992. Sponsors of the bill, which…
Read More » - World
IMF warns global food prices could skyrocket as Putin withdraws from grain deal
The International Monetary Fund (IMF) has warned that Russia’s withdrawal from the Black Sea grain programme might cause world grain prices to rise by 10 to 15 per cent. According to IMF head economist Pierre-Olivier Gourinchas during a press briefing on Tuesday, this accord, brokered by the UN, allowed Ukrainian grain shipments via the Black Sea and played a critical…
Read More » - Economy
IMF issues warning on global food prices
The International Monetary Fund (IMF) on Wednesday warned that the termination of the Black Sea grain deal threatens to exacerbate global food insecurity and cause prices to surge, especially in poorer countries. The UN-brokered deal between Russia and Ukraine, enabling safe passage for Ukrainian agricultural exports via the Black Sea, was scrapped earlier this week. “The discontinuation of the initiative…
Read More » - Economy
Global economic activity ‘slowing down’ – IMF
Global economic activity is slowing, most notably in the manufacturing sector, the chief of the International Monetary Fund (IMF) Kristalina Georgieva said at a meeting of G20 finance ministers and central bank governors on Tuesday. She noted that the world economy “has shown some resilience”despite”successive shocks in recent years and the rapid rise in interest rates.” Its growth is propped…
Read More » - Reports
Why a $3 Billion IMF Loan Isn’t Enough to Save Pakistan’s Economy
In June, Pakistan was in a race against time to secure $1.1 billion from the International Monetary Fund (IMF) in a bid to solve its worst economic crisis since gaining independence from Britain in 1947. Days before an existing bailout package was set to expire, the country’s prime minister, Shehbaz Sharif, held last-minute talks with the IMF after scrambling to…
Read More » - Economy
IMF: The global economy is facing the biggest test since World War II
The state of the global economy at the moment may be the worst since World War II. This was stated by the International Monetary Fund (IMF). “As politicians and business leaders travel to Davos, the global economy faces what may be its biggest test since World War II,” the International Monetary Fund said. This is due to the coronavirus pandemic,…
Read More »
