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The Latest Breaking News from International Monetary Fund

One tax still off the table as treasurer weighs reform

The International Monetary Fund report is calling for a hike in the GST and other tax changes, while praising the handling of Australia's economy.

AAP

The Russian economy is finally stagnating. What does it mean for the war – and for Putin?

A wartime boom in Russia has given way to sluggish growth, tax hikes and squeezed public services. Will it affect the conflict in Ukraine?

The Guardian - UK

Is India Overtaking the US in Economic Influence? Elon Musk Thinks So

When Elon Musk commented “The balance of power is changing” on a chart comparing global economic growth, it triggered a sharp global reaction. The question many began asking was simple yet provocative: Is India now economically stronger than the United States? The short answer is nuanced. India has not overtaken…

Times Life

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Why Elon Musk Says the World’s Economic Power Is Quietly Moving to India

When Elon Musk wrote four simple words, “The balance of power is changing,” he reflected a deep and measurable global transition. According to IMF projections for 2026, India is set to contribute a larger share to global economic growth than the United States. This shift is not sudden or symbolic.…

MyLifeXP

China's export-led growth is looking more and more unsustainable while a real estate crash and reeling consumers fuel deflationary spiral

"China’s growth model is becoming increasingly difficult to sustain."

Fortune

Africa poised to outgrow Asia for first time amid youth boom

Africa’s growth could outpace Asia’s for the first time in 2026, figures from the International Monetary Fund (IMF) suggest, as the continent’s population continues to rise fast.

Radio France Internationale

BRICS could become a new pillar of global governance—if its rapid growth doesn't erode its newfound clout

Enlargement may look pretty on paper, but BRICS needs ground rules, enforcement, and even just a common message.

Fortune

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'Feel ashamed begging for money': Shehbaz Sharif, Asim Munir 'quitely' visited countries to save Pakistan's economy

Pakistan's prime minister Shehbaz Sharif revealed a difficult truth. He and Army Chief Asim Munir sought billions in loans from friendly nations. This was done quietly to bridge the country's external financing gap. Sharif acknowledged the compromises involved in seeking such aid. China was a key supporter. Pakistan has a…

The Times of India

Meet Trump’s next Fed Chair Kevin Warsh: He wants a back-seat central bank, a more bullish monetary policy, and for his dog to live a really long time

Trump confirmed Warsh as the Fed chair nominee Friday morning. Here’s what might be in store for the central bank.

Fortune

'You shouldn't worry as much about AI taking your job as you should worry about someone who's very good using AI taking your job': Cisco CEO says effects of AI will cause "carnage" in the jobs market

Cisco CEO says "carnage" will hit future labor markets, IMF MD likens AI to a "tsunami" that will change how we see work.

TechRadar

AI productivity gains are making the rich richer, and they'll wipe out jobs—but the IMF chief sees a silver lining for low-wage workers

Kristalina Georgieva sees an economic spillover effect brewing.

Fortune

An AI ‘tsunami’ is coming for young workers, IMF chief warns

Kristalina Georgieva is worried about Gen Z and the middle class: “This is moving so fast, and yet we don’t know how to make it safe [and] inclusive.”

Fortune

Young will suffer most when AI ‘tsunami’ hits jobs, says head of IMF

Kristalina Georgieva says research suggests 60% of jobs in advanced economies will be affected, with many entry-level roles wiped out

The Guardian - UK

The ‘rules-based order’ Davos craves has bigger problems than Trump: it represents a world that no longer exists

The global economic system doesn’t even benefit its US and European creators any more, says Guardian columnist Larry Elliott

The Guardian - UK

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The Guardian - AU

The IMF’s banal language is sane-washing an economic crisis created by the egomaniacal Donald Trump

Their latest report makes no mention of Greenland, Venezuela, or even Trump. This is just a pretence that normality continues

International Business Times UK

Do You Have These Once-Valuable Work Skills That Are Rapidly Losing Pay Power as AI Takes Over?

From data entry to basic copywriting, five skill categories are seeing sharp drops in market demand as AI transforms the global workforce.

The Guardian - AU

Virginia Bell formally commences royal commission role – as it happened

This blog is now closed

Evening Standard

Trump’s tariff threats keep European stocks on back foot

Beazley was the FTSE’s star blue-chip performer surging 43% after Zurich Insurance said it has tabled a £7.7-bn bid for the London-listed insurer.

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The Guardian - UK

What are Trump’s latest tariff threats and could EU hit back with ‘trade bazooka’?

Europe could use powerful but untested law amid pressure over Greenland – but it could also lose out from a trade war

AAP

IMF warns of AI bubble risk to global growth outlook

Australia is projected to endure drawn-out, above-target inflation, global economic body the International Monetary Fund says.

The Guardian - UK

Trump tariff threats risk triggering ‘spiral of escalation’ in world economy, says IMF

Fund warns rising geopolitical tensions could have ‘material impact’ on global growth and investment

The Independent UK

Reeves claims UK economy will ‘turn corner’ in 2026 with growth only behind US and Canada in G7

But the UK is expected to lag behind global growth which is projected at 3.3 per cent in 2026 and 3.2 per cent in 2027

The Guardian - UK

Trump tariff threats are bad, but the uncertainty they instil is much worse

The spectre of rising inflation, slowing global trade and jittery markets has re-emerged as US economic policy divorces itself from any logic

The Independent UK

Ukraine-Russia war latest: Drone strikes ‘cut power to 200,000 homes in occupied southern Ukraine’

A Kremlin-installed local official said strikes disrupted power in the Zaporizhzhia region

The Guardian - AU

Ukraine war briefing: Russian attack destroys Kharkiv energy facility as UK pledges emergency support

Response crews at work following strikes in Ukraine’s second city as Britain commits £20m after Zelenskyy declares energy emergency. What we know on day 1,423

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