Now they tell us: Austerity is out in a low-interest rate world
It is no coincidence that there have been waves of populism across the Western world in the wake of the global financial crisis — and the imposition of the austerity orthodoxy.
Debt and disease amid the pandemic
The pandemic will likely leave several countries with distressed debt that will have to be resolved, but many will lack the capacity to ensure a level playing field for negotiations.
China should join the Paris Club
The problem is that China, the largest sovereign lender in the world, is not a member, because other leading creditors complain that its loans and lending conditions are not transparent.
IMF backs Suga’s reform plan but urges BOJ to review inflation goal
The International Monetary Fund gave a thumbs-up Wednesday to plans by new Prime Minister Yoshihide Suga to maintain the thrust of his predecessor's Abenomics stimulus programs, while pushing through reforms to revitalize the economy. Odd Per Brekk, deputy director of the IMF's Asia and Pacific ...
IMF official warns coronavirus will weigh on some economies for years
The novel coronavirus crisis is lasting longer than expected, and it will take some countries years to return to growth, the No. 2 official at the International Monetary Fund said Wednesday. The Fund has provided some $90 billion in total financing to 79 countries, including ...
IMF downgrades forecast for global contraction to 4.9% in pandemic
The projections worsened to 5.8 percent for Japan, 8 percent for the United States and double digits for the euro area.
Surge in coronavirus cases jolts prospects for world economy
The global economy’s fragile recovery is facing a fresh hurdle as a surge in coronavirus cases threatens to keep businesses closed and consumers on edge. Cases of the deadly virus rose by a record for a single day on June 21, according to the World ...
World Bank forecasts worst recession in eight decades as virus persists
According to a semi-annual report per-capita output will contract in more than 90 percent of countries, the largest percentage since 1870.
‘Hidden’ defaults set to soar as recession squeezes firms worldwide
The COVID-19 outbreak and unprecedented lockdowns prompted the International Monetary Fund to predict that the recession would be the steepest in almost a century.
IMF chief lauds Japan's spending to combat pandemic, urging others to step up
IMF chief Kristalina Georgieva praised on Thursday Japan's plans to spend about 20 percent of its gross domestic product in response to the economic challenges of the COVID-19 pandemic and to help the world's poorest countries, urging others to do their part. Japan, the world's ...
IMF and regional bodies agree to cofinance pandemic responses
The heads of the International Monetary Fund, European Stability Mechanism (ESM) and other regional financing arrangements on Tuesday agreed to work together to mitigate the economic and financial impacts of the coronavirus pandemic. In a joint statement issued after a teleconference, the officials said they ...
Economic growth in the Asia-Pacific region will likely slow to a standstill in 2020, something that hasn’t happened in the last 60 years, according to the International Monetary Fund. Changyong Rhee, director of the lender’s Asia and Pacific Department, urged governments in the region to ...
