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.

#banking-and-financial-institutions, #demonstrations-protests-and-riots, #economic-conditions-and-trends, #inflation-economics, #international-monetary-fund, #khan-imran, #legislatures-and-parliaments, #oil-petroleum-and-gasoline, #pakistan, #politics-and-government, #protectionism-trade, #sharif-shahbaz

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.

#africa, #brazil, #bursa-turkey, #cameroon, #economic-conditions-and-trends, #embargoes-and-sanctions, #far-east-south-and-southeast-asia-and-pacific-areas, #federal-reserve-system, #inflation-economics, #interest-rates, #international-monetary-fund, #middle-east-and-africa-migrant-crisis, #pakistan, #politics-and-government, #prices-fares-fees-and-rates, #sudan, #third-world-and-developing-countries, #united-states-economy, #war-and-armed-conflicts, #wheat, #yemen

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.

#coronavirus-2019-ncov, #economic-conditions-and-trends, #inflation-economics, #international-monetary-fund, #international-trade-and-world-market, #recession-and-depression, #russian-invasion-of-ukraine-2022, #supply-chain

The World Bank slashes its forecast for global economic growth.

#coronavirus-2019-ncov, #economic-conditions-and-trends, #inflation-economics, #international-monetary-fund, #russian-invasion-of-ukraine-2022, #world-bank

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.

#economic-conditions-and-trends, #embargoes-and-sanctions, #europe, #group-of-twenty, #house-of-representatives, #international-monetary-fund, #politics-and-government, #putin-vladimir-v, #russia, #russian-invasion-of-ukraine-2022, #treasury-department, #ukraine, #united-states, #united-states-economy, #war-and-armed-conflicts, #world-bank, #yellen-janet-l

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.

#economic-conditions-and-trends, #egypt, #food-insecurity, #international-monetary-fund, #lebanon, #middle-east, #middle-east-and-north-africa-unrest-2010, #morocco, #politics-and-government, #prices-fares-fees-and-rates, #ramadan, #russian-invasion-of-ukraine-2022, #sisi-abdel-fattah-el, #syria, #tunisia, #wheat

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.

#biden-joseph-r-jr, #economic-conditions-and-trends, #european-union, #group-of-seven, #international-monetary-fund, #international-trade-and-world-market, #putin-vladimir-v, #russia, #russian-invasion-of-ukraine-2022, #united-states, #united-states-economy, #united-states-international-relations, #world-bank

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.

#american-rescue-plan-2021, #china, #coronavirus-2019-ncov, #credit-and-debt, #inflation-economics, #interest-rates, #international-monetary-fund, #supply-chain, #united-states, #united-states-economy

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.

#china, #china-evergrande-group, #communist-party-of-china, #consumer-behavior, #coronavirus-2019-ncov, #economic-conditions-and-trends, #international-monetary-fund, #international-trade-and-world-market, #kaisa-group-holdings-ltd, #national-bureau-of-statistics-china, #politics-and-government, #xi-jinping

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.

#argentina, #coronavirus-2019-ncov, #credit-and-debt, #income-inequality, #international-monetary-fund, #politics-and-government, #third-world-and-developing-countries, #treasury-department

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.

#credit-and-debt, #economic-conditions-and-trends, #food, #inflation-economics, #international-monetary-fund, #international-trade-and-world-market, #khan-imran, #oil-petroleum-and-gasoline, #pakistan, #prices-fares-fees-and-rates

Rich Countries’ Climate Change Responsibility

What it will take: $100 billion from well-off nations.

#banking-and-financial-institutions, #blackrock-inc, #european-union, #global-warming, #greenhouse-gas-emissions, #international-monetary-fund, #international-trade-and-world-market, #organization-for-economic-cooperation-and-development, #third-world-and-developing-countries

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.

#coronavirus-2019-ncov, #economic-conditions-and-trends, #gopinath-gita, #international-monetary-fund, #international-trade-and-world-market, #third-world-and-developing-countries, #united-states-economy

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.

#factories-and-manufacturing, #income-inequality, #inflation-economics, #international-monetary-fund, #international-trade-and-world-market, #oil-petroleum-and-gasoline, #prices-fares-fees-and-rates, #shortages, #shutdowns-institutional, #united-states-economy, #world-bank

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.

#china, #economic-conditions-and-trends, #foreign-investments, #georgieva-kristalina-ivanova, #international-monetary-fund, #politics-and-government, #united-states-politics-and-government

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.

#biden-joseph-r-jr, #customs-tariff, #international-monetary-fund, #international-trade-and-world-market, #le-maire-bruno, #macron-emmanuel-1977, #politics-and-government, #united-states-economy, #united-states-international-relations

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.

#banking-and-financial-institutions, #georgieva-kristalina-ivanova, #income-inequality, #international-monetary-fund, #international-trade-and-world-market, #labor-and-jobs, #poverty, #republican-party, #united-states-economy, #wilmer-cutler-pickering-hale-and-dorr-llp, #world-bank

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.

#africa, #african-union, #coronavirus-2019-ncov, #coronavirus-delta-variant, #covax, #disease-rates, #european-union, #immune-system, #international-monetary-fund, #international-trade-and-world-market, #london-school-of-hygiene-and-tropical-medicine, #royal-free-hospital-london-england, #shortages, #stockpiling, #third-world-and-developing-countries, #united-nations, #united-states, #vaccination-and-immunization, #world-health-organization

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-war-2001, #akhundzada-haibatullah, #baradar-abdul-ghani, #biden-joseph-r-jr, #food-insecurity, #haqqani-network, #haqqani-sirajuddin, #international-monetary-fund, #refugees-and-displaced-persons, #shortages, #taliban, #terrorism, #united-states-international-relations, #yaqoub-muhammad

Afghanistan Faces Economic Shock as Sanctions Replace Foreign Aid

The Taliban will be under pressure to keep a fragile economy afloat.

#afghanistan, #afghanistan-war-2001, #economic-conditions-and-trends, #embargoes-and-sanctions, #foreign-aid, #humanitarian-aid, #international-monetary-fund, #international-relations, #politics-and-government, #republican-party, #security-council-un, #taliban, #treasury-department, #united-nations, #united-states, #united-states-politics-and-government, #world-bank

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.

#afghanistan-war-2001, #federal-reserve-bank-of-new-york, #international-monetary-fund, #international-trade-and-world-market, #politics-and-government, #taliban, #treasury-department, #united-states-international-relations, #yellen-janet-l

I.M.F. Board Backs $650 Billion Aid Plan to Help Poor Countries

The expansion of emergency reserves to fund vaccines and pay down debt has emerged as a political flash point in the United States.

#coronavirus-2019-ncov, #georgieva-kristalina-ivanova, #group-of-twenty, #international-monetary-fund, #third-world-and-developing-countries, #united-states-economy, #vaccination-and-immunization, #yellen-janet-l

I.M.F. Presents Plan to Help Poor Countries During Pandemic

A proposal advanced by the International Monetary Fund aims to supply the developing world with extra money to buy vaccines, pay down debt and expand relief programs.

#coronavirus-2019-ncov, #credit-and-debt, #georgieva-kristalina-ivanova, #income-inequality, #international-monetary-fund, #international-trade-and-world-market, #poverty, #third-world-and-developing-countries, #united-nations-development-program, #vaccination-and-immunization, #world-bank

How Biden Can Help Vaccinate the World

Here’s a way for Biden to assert United States leadership to benefit the world and safeguard the American economy.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #economics-theory-and-philosophy, #international-monetary-fund, #stockpiling, #third-world-and-developing-countries, #united-states, #vaccination-and-immunization

Biden’s Climate Summit Won’t Save the World

There is only one way for the Biden administration to make good on its emissions commitments.

#greenhouse-gas-emissions, #international-monetary-fund, #oil-petroleum-and-gasoline, #state-department, #united-nations-framework-convention-on-climate-change, #united-states, #united-states-politics-and-government, #world-trade-organization

‘We Were Left With Nothing.’ Argentina’s Misery Deepens in the Pandemic.

The economy contracted by nearly 10 percent last year, and the country faces a reckoning with the I.M.F. over $45 billion in debts.

#argentina, #blackrock-inc, #coronavirus-2019-ncov, #credit-and-debt, #economic-conditions-and-trends, #fernandez-alberto-1959, #georgieva-kristalina-ivanova, #inflation-economics, #international-monetary-fund, #international-trade-and-world-market, #macri-mauricio, #politics-and-government, #poverty, #recession-and-depression, #united-states

Trump’s Corporate Tax Cut Was a Flop

The abject failure surprised even the critics.

#corporate-taxes, #federal-taxes-us, #international-monetary-fund, #tax-cuts-and-jobs-act-2017, #tax-shelters

As U.S. Prospects Brighten, Fed’s Powell Sees Risk in Global Vaccination Pace

Some countries are lagging behind in vaccinations, and policymakers warned that no economy is secure until the world is safe from coronavirus variants.

#coronavirus-2019-ncov, #economic-conditions-and-trends, #federal-reserve-system, #georgieva-kristalina-ivanova, #income-inequality, #international-monetary-fund, #labor-and-jobs, #powell-jerome-h, #stimulus-economic, #united-states-economy, #united-states-politics-and-government, #vaccination-and-immunization

How Debt and Climate Change Pose a ‘Systemic Risk to the Global Economy’

With dozens of countries struggling to manage both staggering debt and mounting climate disasters, some financial leaders are debating green debt relief.

#belize, #coast-erosion, #credit-and-debt, #credit-ratings-and-credit-rating-agencies, #disasters-and-emergencies, #drought, #fiji, #global-warming, #greenhouse-gas-emissions, #group-of-twenty, #hurricanes-and-tropical-storms, #international-monetary-fund, #mozambique, #third-world-and-developing-countries, #united-nations-framework-convention-on-climate-change, #world-bank

For the World Economy, a Grim Slog Tempered by New Hopes

The emergence of vaccines has taken the edge off the worst fears, but a meaningful economic recovery probably remains distant.

#china, #coronavirus-2019-ncov, #economic-conditions-and-trends, #europe, #great-britain, #international-monetary-fund, #international-trade-and-world-market, #italy, #layoffs-and-job-reductions, #moderna-inc, #pfizer-inc, #recession-and-depression, #shutdowns-institutional, #third-world-and-developing-countries, #united-states-economy, #united-states-politics-and-government, #world-bank

How the Wealthy World Has Failed Poor Countries During the Pandemic

Despite pledges for debt relief and expanded programs, the World Bank and International Monetary Fund have delivered meager aid, say economists.

#banking-and-financial-institutions, #coronavirus-2019-ncov, #georgieva-kristalina-ivanova, #group-of-twenty, #international-monetary-fund, #malpass-david, #mnuchin-steven-t, #poverty, #stimulus-economic, #third-world-and-developing-countries, #united-states-economy, #united-states-politics-and-government, #world-bank

Europe Risks a New Economic Downturn as Lockdowns Return

Record quarterly growth inspires little joy as the threat of a double-dip recession looms.

#coronavirus-2019-ncov, #daimler-ag, #economic-conditions-and-trends, #european-central-bank, #european-union, #eurozone, #gross-domestic-product, #ing-groep-nv, #international-monetary-fund, #korngold-erich-wolfgang, #lagarde-christine, #minder-raphael, #mkg-productions-inc, #quarantines, #recession-and-depression, #stimulus-economic, #theatre-royal-de-la-monnaie-brussels-belgium

Iran’s Covid-19 Death Toll Is Rising. Show Mercy, Mr. Trump.

U.S. efforts to cut Iran off from the rest of the world in the midst of the pandemic are cruel. So is Iran’s refusal to release political prisoners.

#coronavirus-2019-ncov, #defenders-of-human-rights-center, #evin-prison, #international-monetary-fund, #iran, #mohammadi-narges-1972, #political-prisoners, #politics-and-government, #sotoudeh-nasrin, #united-states-international-relations, #womens-rights

View From the I.M.F. — In a Crisis Like No Other, Gender Still Counts

“The economics of gender equality is a book already written,” said Kristalina Georgieva, the managing director of the International Monetary Fund.

#economic-conditions-and-trends, #georgieva-kristalina-ivanova, #gross-domestic-product, #international-monetary-fund, #women-and-girls

Macron Urges World Leaders to Speed Aid to Lebanon After Explosions

The vow to accelerate help, made during a video call with other heads of state, comes amid furious demonstrations in Beirut against the Lebanese government.

#aoun-michel-1935, #beirut-lebanon-explosions-2020, #european-union, #international-monetary-fund, #macron-emmanuel-1977, #united-nations, #world-bank

In Argentina’s Debt Negotiations, a Kinder, Gentler Capitalism Faces a Test

BlackRock, the world’s largest asset management company, is opposing a debt settlement deal with Argentina as the country grapples with soaring poverty and the pandemic.

#argentina, #blackrock-inc, #business-roundtable, #coronavirus-2019-ncov, #corporate-social-responsibility, #economic-conditions-and-trends, #fernandez-alberto-1959, #fink-laurence-d, #georgieva-kristalina-ivanova, #government-bonds, #gramercy-funds-management-llc, #international-monetary-fund, #macri-mauricio, #pensions-and-retirement-plans, #poverty, #stiglitz-joseph-e

China Doesn’t Want a New World Order. It Wants This One.

Why would China go to the trouble of capsizing the global order when it can simply take it over?

#china, #communist-party-of-china, #international-monetary-fund, #international-relations, #united-nations, #united-states, #world-bank, #world-health-organization, #world-trade-organization, #xi-jinping

Poor Countries Face a Debt Crisis ‘Unlike Anything We Have Seen’

Dozens of countries that borrowed from private investors have debt payments coming due as their economies have crashed because of the coronavirus.

#angola, #argentina, #banking-and-financial-institutions, #brazil, #coronavirus-2019-ncov, #credit-and-debt, #currency, #group-of-twenty, #institute-of-international-finance, #international-monetary-fund, #latin-america, #shutdowns-institutional, #third-world-and-developing-countries, #world-bank

Lives Depend on Argentina’s Debt Talks

Governments won’t be able to contain the pandemic if they are forced to use scarce foreign currency to make unsustainable debt payments.

#argentina, #coronavirus-2019-ncov, #credit-and-debt, #income-inequality, #international-monetary-fund

Argentina Teeters on Default, Again, as Pandemic Guts Economy

Even before the coronavirus deepened Argentina’s recession, the country was on track to default on $66 billion in debt.

#argentina, #coronavirus-2019-ncov, #economic-conditions-and-trends, #fernandez-alberto-1959, #international-monetary-fund, #international-trade-and-world-market, #macri-mauricio

In Lebanon, a Pandemic of Hunger

Anger over a failing economy and unaffordable food has pushed protesters into the streets despite the coronavirus.

#banking-and-financial-institutions, #coronavirus-2019-ncov, #corruption-institutional, #demonstrations-protests-and-riots, #international-monetary-fund, #lebanon, #shutdowns-institutional, #tripoli-lebanon

Millions Had Risen Out of Poverty. Coronavirus Is Pulling Them Back.

Experts say that for the first time since 1998, global poverty will increase. At least a half a billion people could slip into destitution by the end of the year.

#africa, #banerjee-abhijit, #bangladesh, #coronavirus-aid-relief-and-economic-security-act-2020, #economic-conditions-and-trends, #food, #food-aid, #harvard-university, #income-inequality, #india, #international-monetary-fund, #labor-and-jobs, #layoffs-and-job-reductions, #massachusetts-institute-of-technology, #poverty, #recession-and-depression, #remittances, #south-asia, #third-world-and-developing-countries, #unemployment, #united-nations, #world-bank

To Fight Coronavirus, Poor Nations Need Their Debt Canceled

Delaying the repayments to the Group of 20 is not enough.

#coronavirus-2019-ncov, #economic-conditions-and-trends, #epidemics, #group-of-twenty, #income, #international-monetary-fund, #recession-and-depression

Covid-19 Threatens Global Safety Net

Developing nations will need help with the economic and public health disruptions from coronavirus. But institutions designed to help are being hobbled.

#coronavirus-2019-ncov, #epidemics, #international-monetary-fund, #international-trade-and-world-market, #third-world-and-developing-countries, #united-states-politics-and-government, #world-health-organization

The World Has a $2.5 Trillion Problem. Here’s How to Solve It.

Poor countries are going to be decimated by the coronavirus. They need a serious rescue package.

#coronavirus-2019-ncov, #credit-and-debt, #epidemics, #foreign-aid, #global-fund-to-fight-aids-tuberculosis-and-malaria, #international-monetary-fund, #international-trade-and-world-market, #third-world-and-developing-countries

The Global Coronavirus Crisis Is Poised to Get Much, Much Worse

What happens when the pandemic strikes nations of millions of people that have only a half-dozen ventilators?

#coronavirus-2019-ncov, #francis, #guterres-antonio, #international-crisis-group, #international-monetary-fund, #international-rescue-committee, #trump-donald-j, #united-nations, #world-bank

Iran, Devastated by Coronavirus, Says U.S. Sanctions Are Taking Lives

Iran, devastated by the coronavirus, is asking the U.S. to lift sanctions on humanitarian grounds. U.S. officials say sanctions aren’t to blame; Iran is.

#coronavirus-2019-ncov, #embargoes-and-sanctions, #epidemics, #european-union, #house-of-representatives, #human-rights-watch, #humanitarian-aid, #international-crisis-group, #international-monetary-fund, #iran, #khamenei-ali, #medical-devices, #murphy-christopher-scott, #politics-and-government, #pompeo-mike, #sanders-bernard, #state-department, #united-states-international-relations, #united-states-politics-and-government, #ventilators-medical, #zarif-mohammad-javad

Oil Prices Crash, Virus Hits, Commerce Stops: Iraq Is in Trouble.

Iraq depends on oil revenues, which have plummeted. The country is so desperate it is asking for donations to help it weather the pandemic.

#baghdad-iraq, #coronavirus-2019-ncov, #curfews, #economic-conditions-and-trends, #government-contracts-and-procurement, #international-energy-agency, #international-monetary-fund, #iraq, #labor-and-jobs, #layoffs-and-job-reductions, #mahdi-adel-abdul, #oil-petroleum-and-gasoline, #politics-and-government, #salih-barham