The U.K. economy flatlined in February as widespread industrial action and persistently high inflation stymied activity.
The International Monetary Fund has become more upbeat about the global economy, as coronavirus vaccinations are administered across the world. It is, however, worried about the risk new Covid variants pose to the post-pandemic recovery. According to its latest World Economic Outlook, published Tuesday, the institution now expects the global economy to grow 5.5% this […]
Equity markets could tank in the coming months if the coronavirus crisis persists and the economic recovery takes longer than expected to materialize, the International Monetary Fund warned on Tuesday. Stock markets have come off their September lows and are broadly higher year-to-date. The S&P 500 is up about 8% since the start of 2020 and the […]
The economic crisis of 2020 may not have been as bad as the International Monetary Fund originally thought, but the path ahead will be a “difficult climb,” Kristalina Georgieva, the Fund’s managing director, said Tuesday. The IMF projected in June a contraction of 4.9% in global GDP (gross domestic product) this year. However, the global economy has […]
The euro area will be among the worst impacted by the global recession, the International Monetary Fund (IMF) has warned as it slashed its global growth outlook.
New SDR allocations issued by the IMF could help developing economies cope with the looming economic crisis.
The International Monetary Fund this week said the global economy is expected to shrink by 3% this year, before growing by 5.8% next year — a rebound that its Chief Economist Gita Gopinath described as a “partial recovery.”
“So even by the end of 2021, we’re expecting level of economic activity to be below what we had projected before the virus,” she said.
President Hassan Rouhani has warned the International Monetary Fund (IMF) to consider Iran’s request for $5 billion without “discrimination” after reports said the US was seeking to block the loan.
International Monetary Fund chief Kristalina Georgieva said Friday that the global economy is now in a recession thanks to COVID-19.
“We should not go … with small measures now when we know that it is a gigantic crisis,” she said. “We’ve never seen the world economy standing still.”
“The length and depth of this recession depend on two things: Containing the virus and having an effective, coordinated response to the crisis,” she added.
“The truth is that there is no readily available tried and tested European all-rounder,” a European minister, who did not want to be named due to the sensitive nature of the talks, told CNBC.
There is no official shortlist of candidates, but many governments of EU nations have put forward a name to take the top job.
