U.S. tariffs are an “evolving story” and it is too early to assess their impact on the world economy, International Monetary Fund Managing Director Kristalina Georgieva said on Tuesday. “It is an evolving story… What we have are elements of trade policy that we expected would come, that was...
IMF/OECD News
EU can stand up to US, China with integrated energy market, IMF states
European Union companies could become more competitive against their U.S. and Chinese rivals if they paid less for energy — a goal governments could achieve by cooperating to invest and to integrate the EU’s fragmented energy market, the IMF said. Boosting Europe’s economic competitiveness is a...
Adult skills in literacy and numeracy declining or stagnating in most OECD countries
Literacy and numeracy skills among adults have largely declined or stagnated over the past decade in most OECD countries, according to the second OECD Survey of Adult Skills. Declines have been even larger and more widespread among low-educated adults. The Survey measured the skills of around 160...
OECD unemployment rate remains stable at 4.9% in October 2024
The OECD unemployment rate remained unchanged at 4.9% in October 2024, having been at or just below 5.0% since March 2022 (Figure 1 and Table 1). Compared with September, October unemployment rates were unchanged in 19 OECD countries, declined in 7 and rose in 5. Five OECD countries recorded an...
https://www.hellenicshippingnews.com/oecd-unemployment-rate-remains-stable-at-4-9-in-october-2024/
Migration to OECD countries hits new record
Permanent migration to OECD countries hit a new record in 2023, with 6.5 million migrants arriving. The number of temporary migrants and asylum seekers has also risen sharply, according to a new OECD report. International Migration Outlook 2024 says that most of the 2023 increase in permanent-type...
https://www.hellenicshippingnews.com/migration-to-oecd-countries-hits-new-record/
Growth in real household income slows in second quarter of 2024
Real household income per capita in the OECD rose by 0.4% in the second quarter of 2024 compared with 1.3% in the previous quarter, while real GDP per capita grew by 0.3%. Despite the overall increase in real household income per capita, the picture was mixed across OECD countries. Of the 15...
ASEAN continues to emerge as a winner of U.S.-China trade tensions, IMF says
The Association of Southeast Asian Nations (ASEAN) has continued to emerge as an economic winner of increasing geopolitical tensions between China and the United States, though risks from fragmentation remain, the International Monetary Fund (IMF) says. According to the U.N. agency, the region has...
IMF urges African oil exporters’ reforms to boost ‘subdued’ growth
Sub-Saharan African nations that depend on commodity exports need to reform their economies to tackle patchy regional economic growth, International Monetary Fund Africa Director Abebe Aemro Selassie said. The region is expected to grow by 3.6% this year, unchanged from last year and down from an...
IMF says Latam, Caribbean should focus reforms toward growth
The International Monetary Fund on Friday urged governments in Latin America and the Caribbean (LAC) to target economic policies aimed at boosting potential growth, saying their reform agenda is currently “thin” while activity is expected to moderate in key economies. In its Regional Economic...
https://www.hellenicshippingnews.com/imf-says-latam-caribbean-should-focus-reforms-toward-growth/
IMF calls on BOJ to hike interest rates at ‘gradual’ pace
The International Monetary Fund welcomes the Bank of Japan’s decision to raise interest rates in July, but further hikes should proceed at a gradual pace, a senior IMF official said on Thursday. Krishna Srinivasan, director of the IMF’s Asia and Pacific Department, also told a press briefing that...
https://www.hellenicshippingnews.com/imf-calls-on-boj-to-hike-interest-rates-at-gradual-pace/