IMF cuts Japan's growth forecast to 2.8% in 2021 as COVID-19 spreads again
Japan was the only country among the Group of Seven industrialized nations that faced a downgrade in the fund's latest World Economic Outlook report.
U.S. Treasury Secretary Janet Yellen calls for global minimum corporate tax
Yellen said Monday she was working with G20 countries to agree to the measure, in hope of ending a "thirty-year race to the bottom."
World economy risks ‘dangerously diverging’ even as growth booms
It could take years for swaths of the world to join the U.S. and China in fully recovering from the pandemic.
IMF chief says lack of fans at Olympics won't harm Japan's recovery
Japan's "very diversified and vibrant economy" is not dependent on revenues from hosting the games, says Kristalina Georgieva.
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.
