Economy

IMF cuts Asia's growth forecast, warns of supply chain risks

TOKYO (REUTERS) – The International Monetary Fund (IMF) on Tuesday (Oct 19) slashed this year’s economic growth forecast for Asia and warned that a fresh wave of Covid-19 infections, supply chain disruptions and inflation pressures pose downside risks to the outlook. China’s economy will grow by 8 per cent this year and 5.6 per cent […]

Business

COVID-19: IMF blames ‘great vaccine divide for dangerous divergence in economic prospects’

The UK is tipped to record the largest leap in growth among advanced economies this year but a resurgent COVID crisis has damaged recoveries globally and resulted in a “dangerous divergence” in economic prospects, according to the International Monetary Fund (IMF). The world’s lender of last resort used its latest World Economic Outlook report to […]

Business

IMF board to back Georgieva after review of data-rigging claims -sources

WASHINGTON (Reuters) -The International Monetary Fund’s executive board will issue a statement of support for Managing Director Kristalina Georgieva after reviewing allegations she pressured World Bank staff to alter data to favor China, sources familiar with the decision said on Monday.FILE PHOTO: International Monetary Fund (IMF) Managing Director Kristalina Georgieva speaks during a joint news […]

Business

IMF trims 2021 GDP forecast, citing 'vaccine divide,' inflation

WASHINGTON (Reuters) -The International Monetary Fund expects global economic growth in 2021 to fall slightly below its July forecast of 6%, IMF chief Kristalina Georgieva said on Tuesday, citing risks associated with debt, inflation and divergent economic trends in the wake of the COVID-19 pandemic.FILE PHOTO: International Monetary Fund logo is seen inside the headquarters […]

Business

IMF says China has tools to avoid Evergrande's problems becoming systemic crisis

FILE PHOTO: A man walks in front of unfinished residential buildings at the Evergrande Oasis, a housing complex developed by Evergrande Group, in Luoyang, China September 15, 2021. REUTERS/Carlos Garcia RawlinsWASHINGTON (Reuters) – The International Monetary Fund on Tuesday said it is closely following developments surrounding China Evergrande Group, but believes Beijing has the tools […]

Business

IMF board backs $650 billion reserves distribution, targets end-August completion

FILE PHOTO: International Monetary Fund (IMF) Managing Director Kristalina Georgieva makes remarks at an opening news conference during the IMF and World Bank’s 2019 Annual Fall Meetings of finance ministers and bank governors, in Washington, U.S., October 17, 2019. REUTERS/Mike Theiler/File PhotoVENICE, Italy (Reuters) – The International Monetary Fund said on Friday its executive board […]

Business

IMF board, citing increased credit exposure risks, raises reserve target

WASHINGTON (Reuters) – The Executive Board of the International Monetary Fund has agreed to raise the medium-term target for the fund’s precautionary reserves given a sharp increase in financial risks since 2018, the IMF said on Friday.FILE PHOTO: The International Monetary Fund (IMF) headquarters building is seen in Washington, U.S., April 8, 2019. REUTERS/Yuri Gripas/File […]

World News

IMF willing to redouble Lebanon efforts, subject to reform commitment

WASHINGTON (Reuters) – The International Monetary Fund said on Sunday it was willing to redouble efforts to help Lebanon after the devastating blast that hit Beirut, but said all of the country’s institutions needed to show willingness to carry out reforms. In a statement to an emergency donor conference for Lebanon, the IMF’s managing director, […]