imf
Washington (AFP) - The IMF has raised its outlook for the global economy this year, while maintaining a gloomy forecast over the medium term, according to fresh data published Tuesday. The International Monetary Fund now expects the world economy to grow by 3.2 percent this year, up 0.1 percentage point from its previous forecast in January, and by a further 3.2 percent in 2025, according to the latest World Economic Outlook (WEO) report. Global headline inflation is expected to ease from 5.9 percent this year to 4.5 percent in 2025, supported by elevated interest rates in many countries. "The...
AFP
Washington (AFP) - The spring meetings of the International Monetary Fund and the World Bank are due to open Tuesday, with two clear objectives: help countries combat climate change, and assist the most indebted nations. The meetings -- which bring central bankers together with finance and development ministers, academics, and representatives from the private sector and civil society to discuss the state of the global economy -- will kick off with the IMF's publication of its updated World Economic Outlook. Even as they look ahead, the meetings will have an air of nostalgia this year, as 2024 ...
AFP
Washington (AFP) - Strong growth in the United States has helped to lift the outlook for the world economy, but more needs to be done to stem a slide in productivity, the head of the IMF said Thursday. "Global growth is marginally stronger on account of robust activity in the United States and in a number of emerging markets economies," International Monetary Fund managing director Kristalina Georgieva said in a speech in Washington. The US economy grew by a robust 2.5 percent last year, according to the Commerce Department, far outstripping most other advanced economies. "Sustained household...
AFP
Washington (AFP) - The International Monetary Fund confirmed Thursday that its current managing director is the only candidate to lead the global financial institution once her first term expires later this year. With the period for submitting nominations closing one day earlier, "One candidate, the current Managing Director of the IMF, Kristalina Georgieva, has been nominated," the IMF said in a statement. The announcement makes Georgieva's return to the top job at the IMF almost certain once her term ends on September 30. Under a controversial, decades-old agreement between Europe and the ...
AFP
Washington (AFP) - The managing director of the International Monetary Fund has told AFP she is making herself "available to serve" for a second five-year term running the Washington-based financial institution, shortly after she received the backing of European finance ministers. "I'm not running to force people to choose me, I'm making myself available to serve, if people want me to serve," IMF managing director Kristalina Georgieva said in a video call interview ahead of a speech in the UK city of Cambridge on Thursday. "I would bring to the job a determination for the Fund to be an ins...
AFP
Washington (AFP) - The IMF sees a greater risk to the global economy if central banks start cutting interest rates too soon than if they move "slightly" too late, Managing Director Kristalina Georgieva said Thursday. The US Federal Reserve, the European Central Bank (ECB) and others have held interest rates elevated in recent months in an attempt to bring inflation back down toward target, following a post-pandemic surge in prices. With inflation now falling in many of the world's advanced and emerging economies, attention has now turned to when they should start cutting rates to stimulate in...
AFP
Abidjan (AFP) - Sub-Saharan Africa will have a "stronger voice" at the International Monetary Fund as it will get a third seat on the global lender's executive board, IMF chief Kristalina Georgieva told AFP. Georgieva delivered the news ahead of next week's IMF and World Bank meetings in Marrakesh, Morocco -- the first gathering on the continent since 1973. The IMF executive board, which is chaired by Georgieva, is responsible for conducting the Washington-based institution's day-to-day business and currently has 24 directors. The United States, as the world's biggest economy, has the largest ...
AFP
Washington (AFP) - The International Monetary Fund has slightly upgraded its outlook for world growth this year on the back of resilient service sector activity in the first quarter and a strong labor market, the lender said Tuesday. But despite the mildly better economic forecast, growth is expected to slow to three percent in 2023 and then stay there, held down by weak growth among the world's advanced economies, the IMF announced in a new report. "The global economy continues to gradually recover from the pandemic and Russia's invasion of Ukraine. But it is not yet out of the woods," IMF C...
AFP
Washington (AFP) - The US economy is on a "very narrow path" to avoiding a recession, the International Monetary Fund's chief economist says, while warning of risks to China's strong post-pandemic recovery. "A recession is not in our baseline," Pierre-Olivier Gourinchas told AFP during an interview at the IMF's headquarters in Washington, ahead of the publication of its updated global growth projections on Tuesday. "We are cautiously prudent that the US economy could avoid a recession and, you know, glide towards its inflation target without having a recession in its future," he said. "But it'...
AFP
Washington (AFP) - US Treasury Secretary Janet Yellen said Tuesday that international financial institutions like the IMF and World Bank "reflect American values" and serve as key counterweights to "unsustainable lending from others like China." Speaking before the House Financial Services Committee, she sought congressional support for the United States to lend more money to such organizations, going towards helping developing countries. "Our leadership at these institutions is one of the core ways of engaging with emerging markets and developing countries," Yellen told lawmakers. Assistance ...
AFP
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