Financier Guy Hands Warns UK Risks IMF Rescue Without Brexit Renegotiation

(Bloomberg) — A leading financier has warned that the UK is “on a path to be the sick man of Europe” and risks needing an IMF bailout unless the government is prepared to renegotiate the terms of its exit from the European Union. Guy Hands, the co-founder and chair of Terra Firma Capital Partners and … Read more

Sitharaman flags downside risks to economy at IMF meet

New Delhi, Oct 15 (IANS) Union Finance Minister Nirmala Sitharaman shared concerns on key downside risks to the economy owing to slowdown in growth in major economies during a meeting at the International Monetary Fund (IMF) headquarters in Washington D.C. While addressing the Plenary Meeting of the International Monetary and Financial Committee, Sitharaman on Friday … Read more

Oil Sinks Further on China COVID Jitters, IMF Warning

By Ambar Warrick– Oil prices fell further on Wednesday, extending steep losses from the prior sessions amid growing concerns that a new COVID outbreak in China and a worsening global economic outlook will severely crimp demand.  dropped 0.7% $93.66 a barrel, while U.S. West Texas Intermediate futures fell 0.8% to $88.58 a barrel by 22:02 … Read more

IMF expects inflation in India to come down to 4% range next year

Daniel Leigh, the IMF’s head of World Economic Studies Division, said at a news conference on Tuesday, “We do expect that inflation will come back into the inflation tolerance band 4 per cent in fiscal year 2023-2024, and additional monetary tightening is going to ensure that that happens.” IMF’s chief economist Pierre-Olivier Gourinchas said, “Inflation … Read more

India remains world’s fastest-growing economy, despite IMF cutting growth projection (Ld)

The IMF’s World Economic Outlook report released in Washington on Tuesday cut India’s growth rate by 0.6 per cent from the projection of 7.2 per cent made in July, but it kept the slower growth projection for next year at 6.1 per cent, which would still be the highest for major economies. The report said … Read more

‘The worst is yet to come’: IMF on global economy

London, Oct 11 (IANS) The International Monetary Fund (IMF) has predicted a tough 2023 as it cut growth predictions and forecast economic contraction in a third of the world, media reports said. “The worst is yet to come”, the global financial institution’s World Economic Outlook report said, Sky News reported. “For many people, 2023 will … Read more

IMF & World Bank Forecast High Risk of Global Recession: Key Drivers & Estimates

By Malvika Gurung — Leaders of the World Bank and International Monetary Fund (IMF) have forecasted the probability of the world economy succumbing to recession in the upcoming year, in a face-to-face conversation between the groups. The financial giants have flagged rising risks of global recession as a slowdown in the growth of developing … Read more

‘Buckle Up’ as Inflation Fight Threatens Growth, IMF Chief Warns

(Bloomberg) — International Monetary Fund Managing Director Kristalina Georgieva said she expects slowing growth from higher borrowing costs will make next year feel like a recession for millions of people, even if the global economy avoids a technical downturn.  “Increased interest rates will bite and we will see the impact on growth,” Georgieva said in … Read more

IMF chief says India ‘a bright spot’ in global economy

New Delhi, Sep 7 (IANS) International Monetary Fund’s (IMF) Managing Director Kristalina Georgieva on Thursday said that despite global uncertainty and headwinds, India continues to be a bright spot in the global economy. She made the statement during her meeting with Finance Minister Nirmala Sitharaman, where India’s upcoming G-20 Presidency was also discussed and the … Read more