News from World

tag: IMF

16 January 2023

A gloomy economic picture

Growing protectionism and worsening international cooperation could badly damage the world economy, the International Monetary Fund said. Its report, released on the eve of the Davos summit — a paean to free trade and global integration — argues that poorer countries would be hit harder than rich ones. The projections add to continued gloom over economic prospects worldwide, with economists still predicting a recession as likely, despite signs of slowing inflation and hopes that China’s abandonment of zero-COVID could boost growth. [Confronting Fragmentation Where It Matters Most: Trade, Debt ... – IMF]

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24 August 2022

Energy and ecological transition: high-quality, reliable and comparable gauges are needed to avoid greenwashing

Climate change is transforming the global investment landscape, creating new risks and opportunities. For this it is important to know if a company's resources are physically vulnerable, the volume of greenhouse gases it emits and its plans to reduce emissions. @IMFNews proposes the Network for Greening the Financial System directory that assesses available climate data, identifies gaps and offers practical and concrete ways to fill these gaps. [Achieving Net-Zero Emissions Requires Closing a Data Deficit - IMF]

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16 June 2022

Without adaptation, Egypt will be paralyzed by climate change

Higher temperatures and extreme weather conditions have inflicted crippling losses in countries in the Middle East and Central Asia, the IMF explains. Egypt is one of the most exposed countries. To support the shift to a greener and climate-resilient economy, the Egyptian government recently launched the National Climate Change Strategy, in which private industry will have to play a key role.

26 May 2022

Geoeconomic fragmentation leads to reduced trade and disruption of value chains

Tensions over trade, technological standards and security have increased for many years, undermining growth and confidence in the current global economic system. This is confirmed by a research by the IMF. Only international cooperation can address urgent global issues such as remedying shortages of food and other products, removing barriers to growth, and saving our climate. [Why We Must Resist Geoeconomic Fragmentation—And How – IFM]

23 March 2022

The conflict in Ukraine is a major blow to the global economy that will hurt growth and raise prices

Beyond the suffering caused by the Russian invasion of Ukraine, an IMF analysis explains how the entire global economy will feel the effects of slower growth and faster inflation: rising commodity prices increase inflation; disrupted supply chains and refugee crises produce poverty; investment crisis causes capital outflows from emerging markets.

25 January 2022

PAKISTAN, IMF AID AGREEMENT PROVIDES FOR AN END TO SUBSIDIES AND EXEMPTIONS: NEW TAXES ON IMPORT MACHINERY

The IMF was supposed to meet on 12/1 to consider releasing $1 billion out of 6 billion for the bailout of Pakistan, but is asking the IMF to delay the aid decision due to the failure to cut spending, Al Jazeera explains. The bailout is tied to the withdrawal of tax exemptions and subsidies to businesses, increased fuels and energy tariffs. Pakistan is proceeding slowly, but among the consequences already in place is the imposition of a tax on textile and leather machinery imported into processing zones for export.

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