WASHINGTON—The International Monetary Fund expects to further cut its forecast for global economic growth in 2022 next month, an IMF spokesperson said on Thursday, following moves by the World Bank and Organization for Economic Co-operation and Development (OECD) to cut their own forecasts this week. That would mark the IMF’s third downgrade this year. In…
IMF’s Gopinath Sees Risk of De-anchoring US Inflation Expectations
NEW YORK—U.S. inflation could remain above the Federal Reserve’s targets for a long time based on current projections, and there is a risk of inflation expectations “de-anchoring,” International Monetary Fund First Deputy Managing Director Gita Gopinath said on Wednesday. Based on current projections of what the interest rate path may be, inflation will stay above…
Pakistan’s Foreign Debts Will Burden Generations to Come: Prime Minister
Pakistan’s foreign debt has reached a level that even the future generations will not be able to pay off, Prime Minister Shehbaz Sharif said on May 28. “Imran Khan’s government took such hefty amount of loans that our generations might not be able to pay them,” Sharif said in a public address, referring to his…
Pakistan Faces Default Risks Amid Political Uncertainty
Pakistan is facing the risk of economic default amid increased political uncertainty following the removal of Prime Minister Imran Khan last month. Foreign reserves held by the State Bank of Pakistan fell by $190 million to $10.3 billion this month, sending the Pakistani rupee to an all-time low in the interbank market of 191.77 rupees…
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…
IMF’s Economic Outlook Report Brings More Confidence to Australian PM
The latest upgrade of Australia’s economic outlook by the International Monetary Fund (IMF) has prompted Prime Minister Scott Morrison to show further confidence in his economic plan. According to the latest world economic outlook report, the projection of real GDP growth for Australia in 2022 rose to 4.2 percent from 4.1 percent in January’s report,…
As Central Banks Adjust Monetary Policies, IMF Signals Further Market Sell-Off: CNBC
The International Monetary Fund has warned of more market sell-offs as central banks attempt to combat higher inflation and ease back on pandemic stimulus measures. Market players started 2021 on an optimistic note, predicting some economic momentum amid the easing of COVID-19 restrictions, which would likely boost stocks. However, since Russia invaded Ukraine, that outlook…
Ukraine Conflict to Test Resilience of Global Financial System: IMF
April 19, 2022
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WASHINGTON—Russia’s invasion of Ukraine has driven up financial stability risks “on several fronts” and will test the resilience of the global financial system at a time when interest rates are rising sharply, the International Monetary Fund (IMF) warned in its biannual Global Financial Stability Report on Tuesday. While there has so far been no globally…
Yellen to Host Washington Summit on Global Food Crisis
U.S. Treasury Secretary Janet Yellen is hosting a summit in Washington next week meant to address the impact of rising food costs. The meetings, scheduled for the week of April 18, will include financial leaders from around the world, with representatives from the leading industrial nations of the G-7 and G-20 as well as heads…
Sri Lanka Halts Debt Repayment Pending IMF Bailout Plan
April 13, 2022
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COLOMBO, Sri Lanka—Sri Lanka is suspending its repayment of foreign debt, including bonds and government-to-government borrowing, pending the completion of a loan restructuring program with the International Monetary Fund to deal with the island nation’s worst economic crisis in decades, the government announced Tuesday. Sri Lankans in recent months have endured fuel and food shortages…
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