The recent financial sanctions imposed on Russia for its invasion of Ukraine are threatening to weaken the dominance of the U.S. petrodollar as the world currency, said First Deputy Managing Director Gita Gopinath of the International Monetary Fund (IMF) to The Financial Times. The sanctions may result in a more fragmented international monetary system, warned Gopinath….
IMF Warns That Sanctions Against Russia Threaten to Weaken the Dominance of the Dollar
IMF Has ‘No Problems’ With Moscow, No Plans to Eject Russia from Fund
March 29, 2022
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The head of the International Monetary Fund told attendees at a forum in Dubai on Tuesday that the IMF has “no problems” with Russia and has no plans to eject the country as a member. Kristalina Georgieva, the IMF’s managing director, made the remarks while speaking at the two-day World Government Summit in the United Arab Emirates,…
Russia’s War in Ukraine May ‘Fundamentally Alter’ Global Economic, Political Order—IMF
March 16, 2022
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WASHINGTON—Russia’s invasion of Ukraine will affect the entire global economy by slowing growth and jacking up inflation, and could fundamentally reshape the global economic order in the longer term, the International Monetary Fund (IMF) said on Tuesday. Beyond the human suffering and historic refugee flows, the war is boosting prices for food and energy, fuelling…
IMF Chief: Russian Default on Sovereign Debts No Longer ‘Improbable Event’
A Russian default on its sovereign debts is no longer an “improbable event” after Western sanctions, the head of the International Monetary Fund (IMF) Kristalina Georgieva said March 13. “In terms of servicing debt obligations, I can say that no longer we think of Russian default as improbable event,” Georgieva said on CBS’s “Face the Nation.” “Russia has the…
The World Bank and the Funding of Genocide
Commentary The Bretton Woods Agreement came into effect in 1944, laying the foundations for a new international monetary system. With the agreement came the creation of two new organizations. The first was the International Monetary Fund (IMF), an institution (ostensibly) designed to secure international monetary cooperation. The second institution, the World Bank Group, played a key role…
Markets to the Fed: The Truce Is Over!
Commentary It was nice while it lasted. For months throughout 2021, the Fed wrestled with a brewing inflation storm—first trying to downplay it by calling it transitory, hen little by little changing their tune, talking about the possibility of tapering their quantitative easing (QE) program, and occasionally suggesting that higher rates might be in order….
IMF Backs ECB’s Easy Policy as It Sees Inflation Easing
FRANKFURT—The European Central Bank has been right to maintain its easy money policy as inflation is set to fall after “transient boosts” from supply snags that may extend into next year, the International Monetary Fund said on Thursday. Backing from her former employer was likely to bring some relief to ECB President Christine Lagarde as…
Could China Go the Way of 1980s Japan?—Part 3
February 11, 2022
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Commentary Some have marveled in the recent past at the often mindless, herd mentality of people I will here only loosely describe as “investors.” People with seemingly more money than common sense have chased everything from fundamentally bankrupt meme stocks to every new cryptocurrency offering, typically based on no more than not wanting to be…
IMF Urges BOJ to Consider Targeting Shorter-Term Yields
TOKYO—The Bank of Japan should consider further steps to make its ultra-easy monetary policy more sustainable, such as steepening the yield curve by targeting a shorter maturity than the current 10-year yield, an International Monetary Fund executive said. Such a move would be on top of steps the central bank took in March last year…
Challenges Loom as World Economy Recovers From Pandemic: IMF
The emergence of the Omicron variant of the novel coronavirus has seen the world economy off to a worst start in the 2022 new year than anticipated, according to the International Monetary Fund (IMF). As pandemic approaches the start of its third year, the IMF has said, in an update to its October World Economic…
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