Page 9 - Global Economy

Joe Biden brushes off risks of strong dollar on global economy

The dollar has climbed roughly 15% this year as the Federal Reserve embarked on an aggressive campaign to raise interest rates to tamp US price increases.

Statsguru: Six charts explain IMF's warning on the global economy

The cost of borrowing is going up for emerging markets and budget constraints are increasingly making their effects felt

Buckle up, and keep going, says IMF chief as outlook for world economy dims

Here is a rundown of the key takeaways from the annual meeting of the International Monetary Fund hosted IMF Managing Director Kristalina Georgieva

IMF chief Kristalina Georgieva warns of risk of geopolitical fragmentation

There is a risk of geopolitical fragmentation, as geopolitics turn into geo-economics with negative impacts, warns IMF Managing Director Kristalina Georgieva

Remain steadfast on principles of common responsibilities: FM to World Bank

Nirmala Sitharaman urged the World Bank to avoid a unidimensional view of subsidies and not to lose focus on the internationally agreed basic principle of common but differentiated responsibilities

Sitharaman discusses global economic situation with EU economy commissioner

India's Finance Minister Nirmala Sitharaman met European Union's Commissioner of Economy Paolo Gentiloni here and the two leaders discussed the current global economic situation, the Union Ministry of Finance said. Sitharaman is here to attend the annual meetings of the International Monetary Fund and the World Bank. On the sidelines of these, she has been holding a number of bilateral and multilateral meetings. During their meeting on Friday, Sitharaman and Gentiloni discussed issues related to the global economy and furthering India-EU collaboration during India's Presidency of the G-20 in 2023, the ministry said. They also discussed the need to further strengthen Multilateral Development Banks to enable them to help countries in need, it said. So far, Sitharaman has held nearly a dozen bilateral meetings with her counterparts from major countries and those from the neighbourhood. She met German Finance Minister Christian Lindner on Thursday. The two ministers discussed several

Rising rates evoke fears of 1990s Asia crisis for emerging markets

Corporate borrowers across developed markets also vulnerable to higher rates

India calls for collective prevention of aggravating risks: FM Sitharaman

: Union Finance Minister Nirmala Sitharaman on Thursday called for collective responsibility to prevent the risks from aggravating. Sitharaman said that India's efforts will be to encourage conversations that recognise our inter-dependencies, our shared wisdom, and our collective aspiration for a safe, peaceful and prosperous world. Today's global economy faces a confluence of challenges and it is our collective responsibility to prevent the risks from aggravating, the finance minister said in her speech during the closing session of the G-20 finance ministers and central bank governors here being held on the sidelines of the annual meetings of the International Monetary Fund and the World Bank. India will head the annual rotating presidency of G-20 next year. In her remarks, the finance minister said that India views the hosting of the G20 Presidency as an opportunity as well as a responsibility. Rebuilding trust in multilateralism is at the core of India's thinking, she told her

The crises we choose: Global recession, war or energy?

The pandemic has increased the global extreme poverty rate from an estimated 8.4 per cent in 2019 to 9.3 per cent in 2020. But the rich country ecosystem is noticeably silent on this

Oil prices rise on tight supplies, as IEA warns of global recession

The IEA downgraded its oil demand growth estimates slightly for this year to 1.9 million bpd and by 470,000 bpd in 2023 to 1.7 million bpd

Oil prices shaky as worsening global demand outlook depress market

Oil prices struggled to find their footing in early Asian trade after a weakening global demand outlook depressed the market in the last session

50% of world's poorest need debt relief to avert development crisis: UNDP

Fifty-four developing economies accounting for more than half of the world's poorest people need urgent debt relief as a result of cascading global crises, according to the UNDP

Expanding India-US union for knowledge-based economy valuable: Vivek Lall

There is great merit in expanding the partnership between India and the United States towards a knowledge-based economy, a top Indian American corporate leader said on Tuesday, asserting that a successful collaboration would result in a number of joint efforts in matters of mutual interest. With India and US demographics, industrial might, and technological entrepreneurism, the two nations form a natural partnership, Vivek Lall, chief executive of the General Atomics Global Corporation, told students at the Harvard Kennedy School in Cambridge, Massachusetts. University's India Caucus, a student organisation that aims to promote India-centric discourse, had organised an interactive session on defence, innovation, and technology with Lall. He was recently honoured with the Lifetime Achievement Award by US President Joe Biden. Given the shared values of India and the United States, this relationship enjoys strong bipartisan support in both the countries, and there is great merit in ...

Sitharaman in US discusses global macroeconomic situation with Yellen

Union Finance Minister Nirmala Sitharaman on Tuesday in a meeting with her American counterpart Treasury Secretary Janet Yellen discussed a range of issues, including bilateral relationships, the global situation as well as India's upcoming G-20 Presidency. The two leaders discussed the current global macroeconomic situation among other issues of mutual interest, the Finance Ministry said after the meeting. The two ministers also discussed various issues of significance with a view towards India's upcoming G-20 Presidency. Sitharaman during the meeting invited Yellen to India to attend the US-India Economic and Financial Partnership meeting in New Delhi on November 11. This will be her first visit to India as Treasury Secretary. Describing it as a substantive meeting India's Ambassador to the US, Taranjit Singh Sandhu, said: Deepening bilateral economic partnership and cooperation in multilateral forums discussed.

'Hurricane' of risks threatens emerging countries, says G20 chair

Emerging and developing nations face a "hurricane" of risks from rising energy costs and food insecurity, and any resilience some countries may have won't last long, the G20 chair said

A troubled world: IMF paints a bleak picture

The growth projection for India has been lowered to 6.8 per cent for this fiscal year

'Worst is yet to come': IMF's gloomy forecast for global economy in 2023

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

IMF cuts Asia's economic growth forecasts, warns of strong dollar strains

The IMF now expects emerging Asian economies to grow 4.4% this year and 4.9% in 2023, down 0.2 percent point and 0.1 point, respectively, from its projections in July, after a 7.2% expansion in 2021

IMF lowers growth outlook for 2023 global economy to 2.7% amid Ukraine war

The International Monetary Fund is downgrading its outlook for the world economy for 2023, citing a long list of threats that include Russia's war against Ukraine, chronic inflation pressures, punishing interest rates and the lingering consequences of the global pandemic. The 190-country lending agency forecast Tuesday that the global economy would eke out growth of just 2.7% next year, down from the 2.9% it had estimated in July. The IMF left unchanged its forecast for international growth this year a modest 3.2%, a sharp deceleration from last year's 6% expansion. The bleaker forecast was no surprise. IMF Managing Director Kristalina Georgieva, noting the grim backdrop to this week's fall meetings of the IMF and the World Bank in Washington, warned that the risks of recession are rising'' around the world and that the global economy is facing a period of historic fragility.'' In its latest estimates, the IMF slashed its outlook for growth in the United States to 1.6% this year,

LIVE: Mortal remains of Mulayam Singh Yadav consigned to flames in Saifai

A large sea of people chant 'Netaji amar rahein' as a vehicle carriedthe mortal remains of Samajwadi Party supremo