Treasury Secretary Janet L. Yellen urged her counterparts at a summit in India to condemn Russia’s actions, and she defended the cost of supplying aid to Kyiv.
Tag Archives: International Monetary Fund
U.K. Economy Sputters and Barely Avoids a Recession
Economic growth was unchanged in the fourth quarter, and slow expansion is expected in the years ahead.
IMF Upgrades Global Economic Outlook as Inflation Eases
The International Monetary Fund said the world economy was poised for a rebound as inflation eases.
In Egypt, Eggs Are Becoming a Luxury and Lenders Are Setting Terms
After months of punishing inflation and a plummeting currency value, Egyptians are growing louder about an economic crisis. In exchange for a bailout, the I.M.F. is imposing stern conditions on the government.
I.M.F. Sees World Economy Rebounding, Yet Still Fragile, in 2023
Kristalina Georgieva, the managing director of the International Monetary Fund, predicts that a global recession can be avoided.
Defaults Loom as Poor Countries Face an Economic Storm
Debt-relief efforts are stalling as developing economies are being hit by higher interest rates, a strong dollar and slowing global growth.
Who Pays the Bill for Climate Change?
A plan led by Barbados could remake the way the world of finance deals with the climate crisis.
World Leaders Meet as Global Economy Faces Multiple Threats
High inflation, food insecurity and a possible global recession loom large as the Group of 20 summit discussions begin.
At COP27, Plans to Overhaul the IMF and World Bank Gain Traction
As global warming delivers cascading weather disasters, leaders at U.N. climate talks in Egypt are increasingly calling for changes to a system that traps developing nations in debt.
U.K. Inflation Rises to 10.1 Percent, Driven by Food Prices
After easing slightly the previous month, inflation continued rising in September, heightening the country’s cost-of-living crisis.
Imagining a Post-Global World
The chaos that’s engulfed the economy is driven by a seismic shift toward a better balance between the global and the local.
Lessons From Liz Truss’s Handling of U.K. Inflation
The sharp policy U-turn by Liz Truss, Britain’s prime minister, reveals the perils of taking the wrong path in the fight against scalding inflation.
Andrew Bailey Battles Inflation Amid Britain’s Financial Storm
Andrew Bailey, the Bank of England chief, is trying to calm markets, wrestle inflation and maintain the bank’s credibility amid Britain’s financial storm.
I.M.F. Warns ‘Stormy Waters’ Ahead for World Economy
The I.M.F. lowered its growth outlook for 2023 and suggested interest rate hikes could spur a harsh global recession.
Egypt’s New Administrative Capital Rises, but at What Price?
It is the grandest in a slew of megaprojects spearheaded by the president. But as the country limps through a dire economic crisis, there are doubts about whether it can afford his grandiose dreams.
Global Fallout From Rate Moves Won’t Stop the Fed
The Federal Reserve, like many central banks, sets policy with an eye on the domestic economy. Its battle to control prices is causing pain abroad.
I.M.F. to Lower Global Outlook as Recession Risks Rise
The head of the International Monetary Fund, Kristalina Georgieva, painted a dark picture of the global economy.
In Global Slowdown, China Holds Sway Over Countries’ Fates
The lender of choice for many nations over the past decade, Beijing now has the power to cut them off, lend more or forgive some of their debts.
A Strong Dollar Is Wreaking Havoc on Emerging Markets. A Debt Crisis Could Be Next.
Low-income countries, like Ghana and Pakistan, were already struggling during the pandemic. The dollar’s strength is adding to their woes.
Businesses Brace for Currency Chaos in Asia
A 1997 financial catastrophe casts a long shadow in countries that are seeing the value of their money plunge to record lows.
Britain’s Gamble on Tax Cuts has Economists Warning of Past Mistakes
The International Monetary Fund is just one of the many voices that have criticized a plan to cut rates for high earners.
In an Echo of History, the British Pound Has Lost Its Dominance
The Bank of England had to step in Wednesday after markets deemed a new government economic plan as unwise, but the pound has been on a longer slide.
Zambia and Its New President Are Still on Their Honeymoon
Hakainde Hichilema is hailed as a miracle worker for turning around the fortunes of the southern African country. But with his opposition neutralized and a corruption drive focused on his predecessors, some are uneasy.
Who pays for climate havoc?
There’s growing grievance against a global system that saddles developing countries with debt after extreme weather disasters.
A global ‘disconnect’ in full view
World leaders gathered in New York this week. Developing countries took the opportunity to demand more support and stronger action.
A More Inclusive Global Order Is Possible
As the world transitions to recovery from the pandemic, the inequities are only widening, both between and within countries.
Debt-Stricken Sri Lanka Reaches Initial Deal for I.M.F. Bailout
The package includes nearly $3 billion in loans for an island nation that ousted its president amid a devastating economic crisis.
Sri Lanka Died in a Western Debt Trap, and Others Will Follow
Western debt killed Sri Lanka. Others will fall too.
Biden Insists There’s No Recession as He Confronts Latest Economic Risk
Officials have tried to ditch a shorthand definition for what constitutes a recession and reassure skeptical voters about the U.S. economy.
Pakistan Raises Fuel Prices in Effort to Stabilize Economy
The interim government’s move was seen as a bid to revive a $6 billion bailout from the International Monetary Fund.
Poor Countries Face a Mounting Catastrophe Fueled by Inflation and Debt
Russia’s war in Ukraine is combining with a global tightening of credit and an economic slowdown in China to sow misery in low- and middle-income countries.
World Economic Outlook Dims as War and Pandemic Cast a Pall
The International Monetary Fund’s new World Economic Outlook expects growth to slow to 3.6 percent this year. The group is one of many to slash their forecasts recently.
The World Bank slashes its forecast for global economic growth.
Yellen Says Aim Is ‘Maximum Pain’ for Russia Without Hurting US
The Treasury secretary, testifying before a House committee, said the U.S. would continue finding ways to punish Russia for its invasion of Ukraine.
Mideast Feels the Pinch of Rising Food Prices as Ramadan Nears
Russia’s war on Ukraine has driven up the prices of staple foods and energy across the Middle East and North Africa ahead of the Muslim holy month of daytime fasting and nighttime feasting.
U.S. and Allies Will Strip Russia of Favored Trade Status
The Biden administration said it would join Europe and other allies in stripping Russia of permanent normal trade relations, another step to inflict economic damage on the country over its invasion of Ukraine.
I.M.F. Forecasts U.S. and China Slowdowns Will Hold Back Growth
The International Monetary Fund forecasts that the growth rate of the world economy will slow to 4.4 percent in 2022.
China’s Economy Slowed Late Last Year on Real Estate Troubles
Economic output climbed 4 percent in the last quarter, slowing from the July through September quarter. Growth has faltered lately as home buyers and consumers become cautious.
Critics Say I.M.F. Loan Fees Are Hurting Nations in Desperate Need
Democratic lawmakers say the global fund’s surcharges for emergency relief siphon away money that countries need to fight the pandemic.
Inflation Batters Pakistan and Puts Pressure on Imran Khan
Rising prices and a weakened currency are straining households, intensifying pressure on Prime Minister Imran Khan to find solutions.
Rich Countries’ Climate Change Responsibility
What it will take: $100 billion from well-off nations.
I.M.F. Lowers Its Global Economic Growth Forecast
The global growth forecast was pared to 5.9 percent from 6 percent because of the Delta variant and supply chain bottlenecks. The U.S. growth prediction was cut to 6 percent from 7 percent.
World’s Growth Cools and the Rich-Poor Divide Widens
The International Monetary Fund says the persistence of the coronavirus and global supply chain crisis weighs on economies.
I.M.F.’s Executive Board Says Kristalina Georgieva Can Remain
An independent inquiry commissioned by the World Bank had concluded that she played a central role in manipulating data to placate China.
Clear Differences Remain Between France and U.S., French Minister Says
Finance Minister Bruno Le Maire says the two countries remain at odds over China and various security issues, even if they had effectively cooperated on overhauling the international tax system.
Debate Looms Over I.M.F.: Should It Do More Than Put Out Fires?
As the International Monetary Fund gets set for its annual meeting, economists ask if it’s time to update its mandate as the world’s financial crisis responder.
Booster Shots for Covid Leave Africa Hanging in Wind
Just 20 percent of people in low- and lower-middle-income countries have received a first Covid-19 vaccine dose — compared to 80 percent in high-and upper-middle income countries.
Shifting to Governing, Taliban Will Name Supreme Afghan Leader
Facing immense challenges in a devastated country, and a hard transition from war to administration, the Islamist movement is preparing to name a new, theocratic government.
Afghanistan Faces Economic Shock as Sanctions Replace Foreign Aid
The Taliban will be under pressure to keep a fragile economy afloat.
I.M.F. Will Block Afghanistan From Getting Reserve Funds
The International Monetary Fund, which was set to release the funds next week, cited the “lack of clarity” over recognition of the Taliban as the country’s legitimate government.