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The Latest Breaking News from International Monetary Fund

Chancellor seeks to calm markets amid jitters after Budget borrowing spree

The Budget increased state spending by almost £70 billion per year funded by increased taxes and borrowing.

Evening Standard

Reeves admits NI hike could hit pay rises while markets react to borrowing spree

Chancellor Rachel Reeves insisted she had no alternative but to raise taxes in her first Budget.

Evening Standard

A Week of Failing To Pay With Bitcoin in El Salvador

The country claims to be a leader in crypto transactions. But you can't force people to take a currency they don't want.

Reason

From analysis to the latest developments in health,
read the most diverse news in one place.

Reeves admits tax hikes will hit working people as IFS accuses chancellor of ‘undermining trust’

Rachel Reeves was forced to accept that her decision to raise employers’ national insurance contributions will lead to workers being paid less, but asked, ‘what alternative was there?’

The Independent UK

Reeves’s £40bn tax rises will boost growth ‘sustainably’, says IMF

Rare intervention comes as Resolution Foundation says UK will remain ‘stagnation nation’ despite push to invest

The Guardian - UK

UK politics live: Budget means weekly pay to rise just £13 in 20 years as IFS calls Reeves’s plans ‘unrealistic’

The Resolution Foundation has warned that the pay outlook is “dire” and many UK workers will not feel any better off by the end of this Parliament

The Independent UK

Taxes will have to rise further despite Reeves’ £40bn tax grab, IFS director warns

Rachel Reeves has hit back at criticism of her Budget after the chancellor received backing from the International Monetary

The Independent UK

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Increase in Tariffs Would Trigger Global Economic Decline, Study Finds

A new IMF study finds that a global increase in tariffs could decrease global GDP by nearly 1 percent by 2025 and over 1 percent by 2026.

Reason

IMF sounds the alarm: ‘There can be no productive economy’ in Germany without structural change

“A lot has been left behind here over the past decades,” Alfred Kammer, IMF's Europe head, said on Germany's lagging economy.

Fortune

Reeves’s radical change to fiscal rules could go further – New Zealand shows how

Nation follows net worth rules which count liabilities such as debt but also assets, including land, roads, hospitals and schools

The Guardian - UK

Taiwan Seeks IMF Membership To Boost Global Financial Resilience

Taiwan seeks IMF membership with U.S. support, facing opposition from China. Efforts to elevate global standing.

Top News

IMF Warns Of Slow Growth And High Debt Risks

IMF warns of slow growth, high debt cycle amid geopolitical tensions, with positive inflation trends but concerns for citizens' economic well-being.

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International Business Times

IMF Chief Seeks More Details On BRICS Payments System Plans

The IMF wants to know more about a cross-border payments system discussed by the BRICS group of countries this week and aimed at boosting non-dollar transactions, the Fund's managing director said Thursday.

The Guardian - UK

Budget will reverse huge cuts in UK’s public investment, Reeves confirms

Chancellor pledges to spend, but says there will be no Truss-style splurge when she changes fiscal rules in budget

The Independent UK

IMF chief warns that world risks falling into slow-growth rut and urges China to enact reforms

The world economy, buffeted by conflict and growing geopolitical rivalries, is in danger of getting stuck in a slow-growth, high-debt rut, the head of the International Monetary Fund warned Thursday

Evening Standard

Budget 2024: Chancellor Rachel Reeves to go on '£20 billion' investment spree in UK through higher borrowing

A string of tax rises are also expected to be announced in the Budget many of which will hit London hard

The Guardian - UK

UK’s borrowing costs rise on news that Reeves is changing fiscal rules

Yield, or interest rate, on British government bonds climbs on Thursday amid a fall for other countries

The Guardian - UK

Jeremy Hunt claims Labour changing debt definition will ‘punish families with mortgages’ – as it happened

Former chancellor says ‘increasing borrowing means interest rates would be higher for longer’ as Reeves says it will ‘make space for investment’

Evening Standard

Report suggests Reeves could announce plans to change Britain’s debt rules

The Chancellor will be looking to raise up to £40 billion from tax hikes and spending cuts in order to avoid a return to austerity.

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