U.S. global economic share drops below 15%
The U.S. share of the global economy has tanked below 15% during Joe Biden’s presidency. By the end of his term, it is projected to hit a record low of …
global economy
IMF: Middle East conflict poses economic risks
The International Monetary Fund said an escalation of the conflict in the Middle East could have significant economic ramifications for the …
'Black Monday' crashes Asian stock markets, bitcoin and oil
Stock markets tumbled on Monday, with Japanese shares at one point exceeding their 1987 "Black Monday" loss, as fears of a U.S. recession sent investors fleeing from risk while wagering that rate cuts would be needed to rescue …
IMF: some countries reevaluating reliance on dollar
Some countries are working on reducing their reliance on the dollar, First Deputy Managing Director of the International Monetary Fund (IMF) Gita Gopinath at the Stanford Institute for Economic Policy Research.
Blinken: Houthi attacks disrupt global shipping in Red Sea
The attacks by the Ansar Allah Houthi movement on commercial shipping have disrupted or diverted nearly 20% of global shipping, U.S. Secretary of State Antony Blinken said during the press conference with Amir Sheikh Tamim Bin …
EU budget - main donors and recipients
Germany continues to feed the EU budget
Lavrov: shift to settlements in national currencies cannot be stopped
The shift to settlements in national currencies bypassing the dollar can no longer be stopped, Russian Foreign Minister Sergey Lavrov told a press conference following a visit to New York as part of Moscow's presidency of the UN Security …
IMF warns of risks to global financial stability
The head of the International Monetary Fund called for greater vigilance over the global financial system during a speech in China on Sunday in which she also pointed to “green shoots” emerging in the world’s second-largest …
IMF chief expects turning point in global economy
IMF Managing Director Kristalina Georgieva, addressing an Arab Fiscal Forum in Dubai, said global growth remains weak, but it may be at a turning point. "After expanding by 3.4% last year, we see growth slowing to 2.9% in 2023 and …
IMF expects global inflation to slow down
At the World Economic Forum in Davos, Gita Gopinath, deputy managing director of the IMF, signalled that the fund would upgrade its economic forecasts. Instead of predicting a “tougher” 2023, she now expected an …
World Economic Forum experts expect recession in 2023
The majority of leading economists surveyed by the World Economic Forum (WEF) in November-December last year forecast a recession in the global economy in 2023, according to the WEF report published on Monday. According to the report, a …
World Bank slashes global growth forecast for 2023
The World Bank on Tuesday trimmed its global growth forecast for 2023 from 3% to 1.7%. The decrease is due to monetary policy tightening to tame elevated inflation, reduced investment, and disruptions caused by the Ukraine war, the bank …
Fitch Ratings lowers 2023 world GDP forecasts
Fitch Ratings Inc. said it again revised down world GDP forecasts for 2023 "as central banks intensify their fight against inflation and the outlook for China's property market deteriorates." Fitch said it now expects 2023 …
Global growth may slump to 2009 levels next year
Global growth could plunge to 2009 levels next year when adjusted for base effects as the Ukraine crisis continues to weigh on the world economy, according to the Institute of International Finance. Economists said that growth …
Putin: Russia supports revising global financial system principles
Russia believes that the principles of the global financial system should be reconsidered, since the current one allowed the "golden billion" on the planet to live at someone else's expense, Russian President Vladimir Putin said on …
Nobel Prize in economics awarded for research on banks and financial crises
Former Federal Reserve Chair Ben S. Bernanke and two US-based colleagues won the 2022 Nobel Prize in Economics for their research into banking and financial crises. Douglas Diamond, Philip Dybvig and the one-time central banker will …
Will Israeli gas keep Europe warm over winter?
Israel’s natural gas production surged 22% in the first half of the year, as the government plans to ramp up exports that will make their way to Europe, where the worst energy crisis in decades is under way. Production rose to …
Baltic nations to boost offshore wind energy seven-fold by 2030
Nations bordering the Baltic Sea agreed to increase offshore wind energy to 20 gigawatts by 2030. "We have agreed to increase offshore wind in the Baltic Sea seven-fold by 2030," Danish Prime Minister Mette …
Euro zone annual inflation hits new record high in July
The Euro zone annual inflation hit a new record high of 8.9% in July, up from 8.6% in June, according to official figures on Thursday. The figure was 2.5% last year. The highest contribution to the annual euro area inflation …
IMF warns of 'darkening' global economic outlook
Head of the International Monetary Fund Kristalina Georgieva said it will downgrade its expectations for global economic growth this month. Its most recent forecast, issued in April, was for 3.6% growth this year and next. …
