Rising debt levels and mounting fiscal pressures underscore the urgency for more “orderly debt restructuring” efforts to put low-income countries on a more sustainable path, the International Monetary Fund’s fiscal chief said. Fiscal Affairs Director Vitor Gaspar told reporters the problems facing...
Central banks’ fight against inflation may take another two years to play out, increasing unemployment and lowering living standards for many in the world, the International Monetary Fund’s chief economist said. In an interview with Reuters, IMF economic counselor Pierre-Olivier Gourinchas said...
Germany needs to adopt a more agile, risk-tolerant and experimental approach to innovation policy if it is to continue to lead in its historical core industries such as automotive manufacturing, machinery, chemicals and pharmaceuticals, and be a champion of the industries of tomorrow, according to...
The International Monetary Fund (IMF) and ratings agency Moody’s criticised Britain’s new economic strategy, as investors braced for more havoc in bond markets that has already forced the Bank of England to promise “significant” action. The statements overnight from the IMF and Moody’s piled more...
Global economic growth is slowing more than was forecast a few months ago in the wake of Russia’s invasion of Ukraine, as energy and inflation crises risk snowballing into recessions in major economies, the OECD said on Monday. While global growth this year was still expected at 3.0%, it is now...
Central bankers must be persistent in fighting broad-based inflation, International Monetary Fund chief Kristalina Georgieva said on Wednesday, conceding that many economists were wrong when they predicted last year that inflation would ease. “Inflation is stubborn, it is more broad-based than we...
The International Monetary Fund is looking for ways to provide emergency funding to countries facing war-induced food price shocks and will discuss measures at an executive board meeting on Monday, sources familiar with the matter told Reuters. The plan, which has not previously been reported, will...
Raising minimum wages and building support for collective bargaining could help to rein in the erosion of pay in the face of the current inflation spiral, the OECD recommended on Friday. Since the inflation crises of the 1970s, most countries have largely stopped indexing wages to inflation and...
Year-on-year inflation in the OECD as measured by the Consumer Price Index (CPI) decreased slightly to 10.2% in July 2022 (Figure 1), from 10.3% in June 2022. This development reflects the first decline in inflation since November 2020. While year-on-year inflation fell between June and July 2022...
The International Monetary Fund (IMF) on Wednesday maintained its economic growth forecast for Saudi Arabia amid concerns the global economy may be heading towards a recession. Saudi Arabia’s economy was still projected to grow by 7.6% this year, which the IMF said would likely be one of the...
https://www.hellenicshippingnews.com/imf-holds-saudi-arabia-2022-economic-growth-forecast-at-7-6/