imf
Established 80 years ago, in July 1944, at a time before many developing countries had gained independence, the Bretton Woods institutions reflect the governance and priorities of a very different era. Yet, despite their shortcomings, the two institutions remain critical instruments through which European countries can mobilise climate and development finance for low- and middle-income countries — and, in doing so, pursue Europe’s own climate ambitions. The World Bank (often described simply as The Bank) plays a unique role in the international system. Its central function — to leverage shareh...
Euronews (English)
Efforts to meet Europe’s emission reduction targets led by industry and citizens will pay off according to an analysis published today (May 29) by the International Monetary Fund (IMF), which estimates the continent could improve energy security by 8% by 2030. Higher carbon prices, energy efficiency and accelerated permitting for renewables were key policy areas identified by the Washington DC- based IMF to improve Europe’s energy security. “An illustrative policy package that cuts emissions by 55% compared to 1990 levels would improve the two energy security metrics by close to 8% by 2030 for...
Euronews (English)
A report from the International Monetary Fund, released late on Tuesday, said the world’s second-largest economy will likely expand at a 5% annual rate this year. That’s 0.4 of a percentage point above the IMF’s earlier estimate, based on China’s growth in the first quarter and recent moves to support the property sector. The group nonetheless warned that in order to attain sustainable growth, China must build stronger social safety nets and increase workers’ incomes to boost spending. The IMF also said that Beijing should scale back subsidies and other "distortive" policies that support manuf...
Euronews (English)
Global stock markets are on track for their third consecutive week of decline amidst escalating tensions in the Middle East conflict. Reports of explosions in Iran have further fuelled concerns, deepening losses across major world benchmark indices. As risk aversion sentiment prevails, investors are flocking to traditional safe-haven assets such as gold, silver, government bonds, and the US dollar. The Japanese Yen and the Swiss Franc have also seen significant spikes as investors seek refuge. Additionally, crude oil prices surged over 3%, with Brent futures surpassing $90 per barrel following...
Euronews (English)
After a sluggish growth rate of only 0.4% in 2023, largely due to the impacts of the Ukraine conflict, the euro area is poised for a gradual recovery. The latest International Monetary Fund (IMF) forecasts a rebound to 0.8% in 2024 and 1.5% by 2025. This uplift is likely to be driven by a resurgence in household consumption, buoyed by a subsidence in energy price shocks and a reduction in inflation, which collectively bolster real income growth among eurozone members. France trade deficit increases adding to the country's economic woesGermany's economy remains the most distressed in EuropeSpai...
Euronews (English)
Stephen Fry, Richard Curtis, Annie Lennox and Forest Whitaker are among a host of celebrities who have written to G20 leaders calling for a reform to debt and climate crises across the world. The letter was sent ahead of this week's Spring Meetings of the International Monetary Fund and the World Bank Group. In their open letter, the leading actors, politicians, artists and economists wrote: "80 years on, we need another Bretton Woods moment," referring to the establishment of the International Monetary Fund (IMF) and World Bank. The "institutions of world finance have lost their muscle", they...
Euronews (English)
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