The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
the staff of the Ridgewood blog
Washington DC, the IMF projects global growth is slowing under the burden of high inflation, impact of Russia’s war in Ukraine and lingering effects of pandemic announced Pierre-Olivier Gourinchas, the IMF’s Chief Economist on Tuesday, October 11 in Washington, DC.
the staff of the Ridgewood blog
Washington DC, the IMF is warning in its latest Global Financial Stability Report that Covid-19’s lingering impact is fading optimism among investors, which could lead to financial tightening in the medium term, Tuesday (October 12).
Global policymakers fret discreetly about Republican candidate
by: Shawn Donnan and Claire Jones in Washington
The world’s economic elite spent this week invoking fears of protectionism and the existential crisis facing globalisation while avoiding any mention of Donald Trump by name.
But the US presidential candidate and his anti-establishment politics have loomed large at this week’s annual meetings in Washington of the International Monetary Fund and World Bank. He has been a sort of Voldemort for the global economic order — like the villain in Harry Potter, his name is spoken only in hushed tones and behind closed doors.
“It is terrifying,” said one senior official of the prospect of a Trump victory in the November 8 election before laying out a scenario in which a President Trump would lead the US into a default on its debts, the collapse of the dollar and US treasuries as safe haven assets and the tumbling of the global economy into a 1930s-like crisis.
Mr Trump has raised the possibility of trying to renegotiate the terms of the US sovereign debt much as he did repeatedly with his own business debts as a property developer. He also has proposed imposing punitive tariffs on imports from China and Mexico and ripping up existing US trade pacts.
https://www.ft.com/content/e4743282-8ca5-11e6-8cb7-e7ada1d123b1
Szu Ping Chan
4 APRIL 2016 • 2:55PM
Jitters over the health of the Chinese economy could trigger a bloodbath on financial markets if a hard landing materialises, the International Monetary Fund has warned.
The IMF said policy choices in the world’s second largest economy would also have “increasing implications for global financial stability” in the coming years as the country opens up its bond and equity markets.
The fund said emerging market economies such as China, India, Brazil and Russia had driven more than half of global growth over the past 15 years.
IMF CUTS FORECAST FOR US ECONOMY, UPGRADES EUROPE AND JAPAN
Apr 14, 9:47 AM EDT
BY PAUL WISEMAN
AP ECONOMICS WRITER
WASHINGTON (AP) — The International Monetary Fund, citing the consequences of a strong dollar, is downgrading its outlook for the U.S. economy but raising its forecast for Europe and Japan.
The IMF predicted Tuesday that the American economy will grow 3.1 percent this year and next – a performance the fund characterized as “robust.” But the U.S. outlook was down from the IMF’s January forecast of 3.6 percent growth in 2015 and 3.3 percent growth in 2016. The American economy advanced 2.4 percent last year.
The IMF forecast that the 18 European countries that use the euro currency collectively will expand 1.5 percent in 2015 and 1.6 percent in 2016, up from a January forecast of 1.2 percent growth this year and 1.4 percent next. The eurozone grew just 0.9 percent last year.
The fund expects Japan to grow 1 percent this year and 1.2 percent next year, versus an earlier forecast of 0.6 percent this year and 0.8 percent in 2016. The Japanese economy shrank 0.1 percent in 2014.
The IMF expects the world economy to grow 3.5 percent in 2015, barely up from 3.4 percent last year and unchanged for its January forecast. It raised the outlook for global economic growth in 2016 to 3.8 percent, up from a January forecast of 3.7 percent.
The international lending agency also left unchanged its prediction that the Chinese economy will grow 6.8 percent this year and 6.3 percent in 2016. That marks a sharp deceleration from last year’s 7.4 percent expansion, already the slowest for China in two decades. But Gian Maria Milesi-Ferretti, the IMF’s deputy director for research, told reporters the slowdown in China reflects the country’s transition from growth built on often-wasteful investment in factories and real estate to slower but steadier growth built on spending by Chinese consumers. “We think it is a good slowdown for China,” he said.
