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The Latest Breaking News from International Monetary Fund

Why the American technological war against China could backfire

The technological war waged by the United States against China has the potential to backfire, supercharging China’s creation of an independent computer chip industry that would directly compete with American manufacturers.

The Conversation

Milei Begins Shock Therapy in Argentina

The self-described anarcho-capitalist president devalued the peso, halved government ministries, and announced a series of spending cuts.

Reason

Friday briefing: What we learned from Vladimir Putin’s surreal televised press conference

In today’s newsletter: The Russian leader touched on his country’s economy, his political future – and the small matter of his war on Ukraine

The Guardian - UK

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Argentina Slashes Subsidies And Devalues Peso By 50% As Milei's Austerity Plan Takes Shape

The new president of Argentina has begun a process of "shock therapy" in a bid to save the country from economic collapse.

International Business Times

Argentina Devalues Local Currency By 50%, Cuts Energy, Transportation Subsidies To Revive Economy

Luis Caputo said the country was going to see "worse than before" for a couple of months, adding that all the new government projects were halted as there was "no more money."

Latin Times

Argentina’s new government devalues peso by more than 50%

Package of spending cuts introduced in attempt to tackle country’s worst economic crisis in decades

The Guardian - UK

Sri Lanka will get the second tranche of a much-need bailout package from the IMF

The International Monetary Fund executive board has approved the release of the second tranche of a bailout package to help Sri Lanka recover from the worst economic crisis in its history

The Independent UK

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Argentina Devalues Peso, Unveils Measures To Avoid 'Hyperinflation'

The government of President Javier Milei announced cuts to generous state subsidies and a halt to all new public construction projects.

Latin Times

IMF Resumes Sri Lanka Bailout After China's Debt Deal

The International Monetary Fund announced on Tuesday it is reviving its $2.9 billion bailout for Sri Lanka after the South Asian nation clinched a debt restructure deal with its largest single lender China.

International Business Times

'Cold War II' could wipe trillions from global economy, IMF says

The group says $7 trillion worth of GDP could be lost to a new Cold War, undoing progress since the fall of the Soviet Union.

Fortune

Russia-Ukraine war: Biden and Zelenskiy hold press conference after US president announces $200m extra Ukraine aid - as it happened

Biden opens with remarks praising Zelenskiy for ‘enormous victory already’ over Putin; US president also announces additional aid to Ukraine

The Guardian - AU

Russia-Ukraine war: List of key events, day 657

As the war enters its 657th day, these are the main developments.

Al Jazeera

Russia-Ukraine war at a glance: what we know on day 657

Volodymyr Zelenskiy visits Washington, saying delays to future military aid are ‘dreams come true’ for Vladimir Putin; Russian opposition leader Alexei Navalny missing

The Guardian - AU

World economy on brink of ‘cold war two’, IMF official warns

Gita Gopinath says global economy’s fragmentation into power blocs risks wipeout of trillions of dollars in GDP

The Guardian - UK

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The Hindu

Calibrating a strategy for India’s future growth

India’s future growth strategy needs to be calibrated in view of the changing global conditions

Al Jazeera

Egypt election: Is President el-Sisi poised to win a third term?

Household finances are severely squeezed but with no clear opponent, incumbent is favourite to win upcoming election.

The Independent UK

Sri Lanka experiences a temporary power outage after a main transmission line fails

Sri Lanka's power and energy ministry says the country experienced an island-wide power outage for several hours after a system failure in one of the main transmission lines

StockNews.com

Bearish or Bullish: Deciphering the 3 Best China Stocks for December

China, the world’s second-largest economy, exhibited resilience even in the face of several macroeconomic challenges. In this context, should investors invest in the shares of Chinese stocks: Alibaba Group (BABA), Weibo Corp (WB), and Autohome Inc. (ATHM)? Read on….

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The Independent UK

Asian Development Bank approves a $200M loan to debt-stricken Sri Lanka

The Asian Development Bank says it approved $200-million concessional loan to debt-stricken Sri Lanka to help stabilize the country’s finance sector

The Guardian - UK

Here’s what Trump 2.0 will bring: ignorance and vengeance in the US, chaos for world order

He must be defeated but not by adopting his toxic agenda, says former UK prime minister Gordon Brown

The Guardian - UK

Carbon pricing would raise trillions needed to tackle climate crisis, says IMF

Traditionally unpopular carbon taxes could be achieved with regulatory compliance, IMF head tells Cop 28

International Business Times

Argentina Will Not Join BRICS Under Milei, As Libertarian Prepares To Take Office

Argentina's President-elect is expected to withdraw Argentina from a planned expansion of the non-western economic alliance.

Total Film

32 of Tom Cruise's greatest movie moments

The undisputed action legend boasts an incredible decades-spanning career

Cinemablend

Did Paris Die In Dead Reckoning? See Mission: Impossible's Pom Klementieff In Action On The Set Of 8

Mission: Impossible 8 is on the way, and it looks like we’ll be seeing more of Pom Klementieff’s Paris following her debut in Dead Reckoning.

France 24

Climate finance takes spotlight at COP28

Money pledges were in the spotlight at COP28 in Dubai on Monday as delegates turned their focus to the yawning gap in how much climate finance is needed and what's on tap, particularly for developing countries that need funds each year just to adapt to the warming world.

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