Biden stimulus plan could boost U.S. output by 5% over three years: IMF

Preliminary estimates show U.S. President Joe Biden’s proposed $1.9 trillion economic stimulus package could boost U.S. economic output by 5% over the next three years, the chief ecnomist of the International Monetary Fund said Monday. Gita Gopinath told a news conference the measures in the...

https://www.hellenicshippingnews.com/biden-stimulus-plan-could-boost-u-s-output-by-5-over-three-years-imf/

World Bank, IMF agree to hold April meetings online due to COVID-19 risks

The International Monetary Fund and the World Bank have agreed to hold their spring meetings, planned for April 5-11, online instead of in person due to continued concerns about the coronavirus pandemic, they said in joint statement. The meetings usually bring some 10,000 government officials, journalists, business people and civil society representatives from across the …

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https://www.hellenicshippingnews.com/world-bank-imf-agree-to-hold-april-meetings-online-due-to-covid-19-risks/

OECD area employment rate rose by 1.9 percentage points in the third quarter of 2020, but remained 2.5 percentage points below its pre-pandemic level

The OECD area[1] employment rate – the share of the working-age population with jobs – rose by 1.9 percentage points in the third quarter of 2020, to 66.7%, following a fall of 4.4 percentage points in the second quarter due to COVID 19 containment measures. The latest rate thus remains 2.5 percentage points below the …

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https://www.hellenicshippingnews.com/oecd-area-employment-rate-rose-by-1-9-percentage-points-in-the-third-quarter-of-2020-but-remained-2-5-percentage-points-below-its-pre-pandemic-level/

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

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. The fund’s 24 executive directors increased the target to Special Drawing Rights 25...

https://www.hellenicshippingnews.com/imf-board-citing-increased-credit-exposure-risks-raises-reserve-target/

IMF chief says 62% of COVID-19 lending went to hard-hit Latin America

Sixty-two percent of the International Monetary Fund’s lending in response to the coronavirus pandemic went to 21 countries in Latin America because the region was so hard hit, IMF Managing Director Kristalina Georgieva said on Tuesday. Georgieva told a panel hosted by the Americas Society/Council...

https://www.hellenicshippingnews.com/imf-chief-says-62-of-covid-19-lending-went-to-hard-hit-latin-america/

COVID-19 crisis adds pressure to private and public pensions systems

The COVID-19 crisis has compounded the challenges facing retirement savings and old-age pension arrangements and added new ones, according to a new OECD report. The OECD Pensions Outlook 2020 says that population ageing, low growth, low returns and low interest rates were already weighing heavily...

https://www.hellenicshippingnews.com/covid-19-crisis-adds-pressure-to-private-and-public-pensions-systems/

G20: Global co-operation and strong policy action needed for a sustainable recovery – OECD

The COVID-19 crisis has exposed major weaknesses in our economies that can only be fixed through greater global co-operation and strong, targeted policy action, according to a new OECD report presented to the Leaders of the G20 countries at their virtual Summit this past weekend. New Horizons, a...

https://www.hellenicshippingnews.com/g20-global-co-operation-and-strong-policy-action-needed-for-a-sustainable-recovery-oecd/

IMF calls for expansion of debt relief beyond world’s poorest countries

The head of the International Monetary Fund called for prompt and effective implementation of a new G20 framework set up to help the world’s poorest countries reach permanent debt relief, but said other countries needed help as well. “It is critical to operationalize this Framework promptly and...

https://www.hellenicshippingnews.com/imf-calls-for-expansion-of-debt-relief-beyond-worlds-poorest-countries/

IMF says state-contingent debt instruments can aid sovereign debt restructurings

As the International Monetary Fund presses governments to sign on to a new sovereign debt restructuring framework, it faces a conundrum: How to make such actions more palatable to private investors and avoid months or years of haggling. The IMF on Thursday said that wider and more standardized use...

https://www.hellenicshippingnews.com/imf-says-state-contingent-debt-instruments-can-aid-sovereign-debt-restructurings/

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