We urgently need better ways to finance sustainable development and climate action in low-income countries.
The hunt is now on for a new president of the World Bank. Traditionally, the job is taken by an American. But whoever is picked must be someone determined to fix three big problems: the Bank's mission, model—and money. This is a bold plan for change and we will not solve climate change without it.
The International Monetary Fund reported that Russia's GDP would be over 2 percent in 2024, with the U.S. seeing 1 percent growth that year.
On Wednesday morning, the sterling fell again after the Bank of England announced its special bond-buying program won't go beyond the Friday deadline.
"The global economy, still reeling from the pandemic and Russia's invasion of Ukraine, is facing an increasingly gloomy and uncertain outlook," the IMF wrote.
Some observers have blamed Sri Lanka's troubles on its dealings with China, which has made substantial investments in the country. Recently, CIA Director William J. Burns became the latest U.S. official in recent years to attribute Sri Lanka's economic crisis to Chinese debt. Of Sri Lanka's total foreign debt, loans from China's government are in the range of 10 percent to 12 percent. Adding Chinese commercial loans to a wider base of public and publicly guaranteed debt, a new analysis...
Tensions are high as the country is experiencing a major economic crisis with people struggling to to get food, fuel and medicine.
The international community needs to pay attention to the crisis in Sri Lanka, and the potential for renewed terrorism is not the only reason.
Having made Bitcoin legal tender in September 2021, the country has made several big currency purchases, frequently buying at prices well in excess of $40,000.
Treasury Secretary Janet Yellen said a report alleging World Bank officials had changed business rankings for China "raised legitimate issues and concerns."
"The recovery is not assured until the pandemic is beaten back globally," IMF chief economist Gita Gopinath said.
"He makes $152,000 per *minute* and yet his workers are forced defecate in bags," Omar said, accusing Bezos of retaliating against workers seeking to unionize.
Following the outbreak of COVID-19, experts advocated the issuance of additional special drawing rights, the International Monetary Fund's composite currency unit.
Climate adaptation action offers an opportunity for the millions of workers who have lost their jobs during the pandemic—and a singular chance to address an even greater threat than COVID.
The International Monetary Fund said the global economy is set to suffer the worst financial crisis since the Great Depression this year as governments worldwide deal with the coronavirus pandemic.
Iran has requested $5 billion from the International Monetary Fund to support its fight against the pandemic.
Nearly 700 have been arrested in protests in the Ecuadorian capital as President Lenin Moreno tries to quell the violence.
"As a reference, this is approximately the size of Switzerland's entire economy," IMF managing director Kristalina Georgieva explained.
Alexandria Ocasio-Cortez joined Trump administration critics in ridiculing video appearing to show Ivanka Trump awkwardly trying and failing to join G20 Summit leaders in conversation over the weekend.
Bilateral trade between China and the U.S. has cost 3.4 million American jobs, with losses occurring in every state and congressional district.
"U.S. sanctions against Iran will both weigh on Iran's oil production prospects in the medium term and reduce Iran's crude exports in the short term...," the report predicts.
More than a million people have already fled the country amid a worsening economic crisis.
A good choice for France, but it would put the future direction of the IMF in jeopardy.