The International Monetary Fund (IMF) has hinted that it may accept the Chinese Yuan as a currency for countries to settle their obligations with the IMF following Argentina’s recent debt repayment in yuan. IMF spokesperson Julie Kozack confirmed on Thursday that Argentina had paid off part of its debts—equivalent to $1.1 billion of the $2.7…
IMF Hints Allowing Countries to Use Chinese Yuan for Debt Repayment
July 15, 2023
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US Needs to Lend More to IMF, Other Global Institutions to Bolster Influence: Yellen
The United States needs to have a greater leadership role in the International Monetary Fund (IMF) and other international financial institutions to support impoverished countries and limit China’s influence, says Treasury Secretary Janet Yellen. Yellen appeared before the House Financial Services Committee, defending a proposal to bolster the government’s participation in the IMF’s New Arrangements…
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…
Britain, Now Switzerland—Something Is Going to Get Broken
October 17, 2022
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Commentary First Britain, now Switzerland. The United Kingdom’s massive fiscal mess has made all the news, capturing the world’s attention for its sudden descent into drama more typical of undeveloped countries. London hadn’t always been the clean money center it now projects in recent decades. The pound had experienced almost frequent problems under the previous…
Higher Inflation Requires ‘More’ Monetary Policy Tightening in Asia, IMF Says
October 15, 2022
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The International Monetary Fund (IMF) said Thursday that Asia’s central banks must tighten monetary policy further to ensure that inflation returns to target levels as currencies across the region weaken. Krishna Srinivasan, director of the IMF’s Asia and Pacific Department, said that a tighter monetary policy is needed for most of the region, except for…
World Careening Toward ‘Dangerous New Normal,’ IMF Chief Warns
The world is facing the risk of a recession, with the global economy experiencing a “fundamental shift,” warned Kristalina Georgieva, managing director of the International Monetary Fund (IMF). In just three years, the world has lived through “shock, after shock, after shock,” Georgieva said during a speech at Georgetown University in Washington on Oct. 6….
Central Bankers Are Secretly Hoarding Billions of Pounds of Gold; Bankers Caught Manipulating Price | Facts Matter Sept. 7
September 15, 2022
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The Federal Reserve is the central bank in the United States, and there is an equivalent to the Federal Reserve in almost every country throughout the entire world. Central banks across the entire world—including the European Central Bank—the International Monetary Fund, the World Economic Forum, and all of these global institutions are talking about creating…
Central Bankers Are Secretly Hoarding Billions of Pounds of Gold; Bankers Caught Manipulating Price | Facts Matter
September 15, 2022
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Central BankDaily Updatesdigital currencyEpochTVEuropean Central BankFacts MatterFederal ReserveInternational Monetary FundUSUS NewsWorld Economic Forum
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The Federal Reserve is the central bank in the United States, and there is an equivalent to the Federal Reserve in almost every country throughout the entire world. Central banks across the entire world—including the European Central Bank—the International Monetary Fund, the World Economic Forum, and all of these global institutions are talking about creating…
The War in Ukraine: A Challenge for the Global Economy
September 7, 2022
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Commentary In the Washington Post, Julian Lee reports that the United States, the United Kingdom, and Canada “have announced bans on Russian oil, while the European Union plans to ban seaborne imports of Russian crude by December and refined fuels by early 2023.” Lee also notes that “the Group of Seven most industrialized countries agreed…
How the IMF Proved Its Own Recommendations Are Wrong
Commentary The latest International Monetary Fund (IMF) global economic outlook has just been published and, like all of them, it has many interesting aspects. It acknowledges the economic slowdown in many economies and has dramatically increased the Fund’s inflation estimates. Global growth is now “projected to slow from an estimated 6.1 percent in 2021 to…
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