WASHINGTON—The International Monetary Fund expects U.S. core inflation to peak in the first quarter, easing to 3.4 percent by the end of 2022 and dropping to the Federal Reserve’s average target of 2 percent in 2023, the IMF’s No 2. official told Reuters. First Deputy Managing Director Gita Gopinath said the Euro area would likely…
IMF Urges El Salvador to Drop Bitcoin as Official Currency
The International Monetary Fund (IMF) has urged El Salvador to drop the status of Bitcoin as the country’s legal tender, citing a series of risks, including to financial stability. The IMF’s cautionary remarks about the Central American country using Bitcoin as its official currency alongside the U.S. dollar came in a review note following a…
Capitol Report (Jan. 25): Wages Can’t Keep Pace With Inflation
January 25, 2022
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As tensions rise, the White House is taking new action to deter Russia from invading Ukraine. The plan aims to control exports and to protect from a gas supply shortage in Europe. And this conflict could cause higher energy costs and prolonged inflation, warns the International Monetary Fund. Border Patrol in southern Texas is reporting…
UK Growth Outlook Cut as Omicron and Supply Chain Troubles Bite, Says IMF
UK growth will be held back this year by disruption caused by spread of the Omicron variant of coronavirus and the ongoing supply chain crisis, according to the International Monetary Fund (IMF). In its latest World Economic Outlook update, the IMF has downgraded its UK growth forecast for 2022 to 4.7 percent from the 5…
IMF Delays Release of New Forecast to January 25 to Factor in COVID-19 Developments
WASHINGTON—The International Monetary Fund will release its World Economic Outlook on Jan. 25, a week later than planned, to factor in the latest COVID-19 developments, a spokesperson for the global lender said on Tuesday, amid signs another downgrade is coming. “The World Economic Outlook update will be launched on January 25 to allow our teams…
IMF: US Tied for Highest Inflation Rate, Global Debt Hits Record $226 Trillion
The U.S. economy tied for the highest level of inflation in 2021 among developed economies, the International Monetary Fund (IMF) reported. IMF data found that the United States and Iceland were at the top of the list of 35 nations for rising consumer prices. The organization noted that the inflation rate clocked in at 4.3…
IMF Warns of Interest Rate Risks as Global Debt Surges to Record $226 Trillion
The International Monetary Fund (IMF) has warned of interest rate risks with regard to the growing mountain of global debt, which jumped to a record $226 trillion in 2020 as governments unleashed unprecedented waves of stimulus spending to blunt the impact of the pandemic recession. IMF officials said in a Dec. 15 blog post that…
Omicron Variant Likely to Usher Growth Downgrades: IMF’s Georgieva
December 4, 2021
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WASHINGTON—Global economic growth projections from the International Monetary Fund will likely be downgraded due to the emergence of the Omicron variant of the coronavirus, IMF Managing Director Kristalina Georgieva said on Friday. “A new variant that may spread very rapidly can dent confidence, and in that sense, we are likely to see some downgrades of…
IMF Warns Inflation Could ‘Become More Sticky’ in Some Parts of World
WASHINGTON—Inflation could “become more sticky” in some parts of the world if supply chain disruptions continue or inflation expectations become de-anchored, the International Monetary Fund said on Thursday. In the United States, the world’s largest economy, inflation is expected to move down in 2022, but policymakers should remain vigilant given upside risks, IMF spokesman Gerry…
Analysis: Supply Chains, Inflation Overshadow Vaccine, Debt Woes at IMF-World Bank Meetings
WASHINGTON—Supply chain woes and growing inflation concerns pushed aside a widening gap in COVID-19 vaccinations and mounting debt problems for developing countries as the top concerns for global policymakers at International Monetary Fund and World Bank annual meetings this week. Relatively little new progress was made on increasing vaccine supplies to developing countries, although officials…
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