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The Latest Breaking News from International Monetary Fund

Zelenskiy says increased donor support will help end Russian war sooner

Ukrainian President Volodymyr Zelenskiy said on Wednesday that increased financial support from international donors will help end Russia's devastating war in Ukraine more quickly, citing the need for $38 billion to close next year's estimated budget deficit.

Reuters

Ukraine's Zelenskiy appeals for $55 billion to cover budget gap and reconstruction

Ukrainian President Volodymyr Zelenskiy on Wednesday appealed to international donors to increase their financial support, saying more money was needed to rebuild schools and homes destroyed by months of Russian bombardment.

Reuters

5 Stocks Investors Can Count on in a Bear Market

The stock market is expected to remain under pressure as the Fed continues its hawkish stance to fight inflation. Moreover, the International Monetary Fund has recently warned of elevated global financial stability risk. We think fundamentally solid stocks UnitedHealth Group (UNH), Walmart (WMT), AbbVie (ABBV), Coca-Cola Company (KO), and Dollar…

StockNews.com

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As IMF alarm bells ring, Australia is stuck between inflation and a looming global recession

Limp growth would normally require fiscal stimulus, yet concerns about inflation mean we’re unlikely to see a big-spending budget

The Guardian - AU

South West businesses blame 'hare-brained' mini-Budget as recession risk rises

The cost-of-living crisis is taking its toll on businesses with firms calling on the government to do more to help

Birmingham Post

IMF Confirms Saudi Economy’s Growth Forecast in Coming Years

The International Monetary Fund (IMF) confirmed its economic growth forecast for Saudi Arabia for the current year at 7.6 percent, the exact forecasts for July and April. Earlier, the Fund increased its expectations twice for the Saudi economy in 2022, making the Kingdom the only country among the G20 whose…

Asharq Al-Awsat

FM Nirmala Sitharaman: Singapore, UAE To Accept RuPay Payment Mechanism

"We are talking to different countries. Singapore and UAE have all come forward now to make Rupay acceptable in their countries," Sitharaman said at the Brookings Institute think-tank during a fireside conversation with eminent economist Eshwar Prasad. Read further on Dynamite News:

Dynamite News

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Putin ‘totally miscalculated’ Russia’s ability to occupy Ukraine, Biden says

US president tells CNN he believes Putin’s objectives in Ukraine invasion were irrational but that he would not use a nuclear weapon

The Guardian - AU

India is doing better and in relative bright spot compared to others: IMF

WASHINGTON: When everyone is slowing down in terms of economic growth, India has not remained unimpacted, but is doing better and is in a relatively bright spot compared to other countries, a top International Monetary Fund (IMF) official said on Tuesday.

The Times of India

Morning Digest | Human sacrifice claims lives of two Kerala women; IMF cuts India’s FY 2022-23 growth forecast to 6.8%, and more

A select list of stories to read before you start your day

The Hindu

ASX flat, BHP loses High Court appeal, IMF warns of global recession risks

Australian shares have ended the session flat after a volatile trade on Wednesday, with gains in financials outweighing losses in mining and energy stocks, while caution prevailed ahead of key US inflation data due later in the week.

ABC News

Morning mail: 200,000 robodebt reviews wiped, G7 leaders warn Putin over nuclear threat, Bali bombings remembered

Wednesday: The federal government has scrapped robotdebt investigations that were on hold for three years. Plus: the rise of men’s netball

The Guardian - AU

IMF's Gopinath: Poorer nations do face big debt challenges

Emerging markets do not face a systemic sovereign debt crisis, though many poorer nations do face big challenges, Gita Gopinath, the International Monetary Fund's (IMF) first deputy managing director told a panel in Washington on Tuesday.

Reuters

No 10 reviews Kwarteng’s mini-Budget measures following market turmoil

Exclusive: Staffers told to undertake line-by-line scrutiny to see if changes are needed

The Independent UK

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Reuters

Brazil's Guedes says IMF overlooked inflation surge, praises Brazil for 'acting early'

Brazilian Economy Minister Paulo Guedes criticized the International Monetary Fund for failing to spot surging inflation, saying it led to "misguided" advice, in contrast to early action in Brazil that he said has put the country ahead of the curve in controlling rising prices.

Al Jazeera

IMF cuts 2023 global outlook over colliding global shocks

The three largest economies will ‘continue to stall’ and ‘the worst is yet to come’, it warned.

The Independent UK

Pressure mounts on Truss and Kwarteng over economic plans

Senior Tories warned the Chancellor of further turmoil if he does not get the support of MPs for his fiscal measures.

The National (Scotland)

Downing Street defends mini-budget AGAIN despite second IMF intervention

KWASI Kwarteng has once again defended his mini-budget after the International Monetary Fund criticised the UK Government’s tax-cutting plans.

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The Hindu

IMF cuts India’s FY 2022-23 growth forecast to 6.8%

The Fund cites Ukraine war, record-high inflation and effects of pandemic as key reasons; it expects inflation in the country to return to the tolerance band in the fiscal year 2023-24

Radio France Internationale

Climate and debt crises converge for half of the world's poorest

Countries home to half of the world's poorest people are facing a systemic debt crisis that will significantly diminish their ability to fight the impacts of climate change, a UN report warned on Tuesday.

Bangkok Post

IMF cuts 2023 global growth, warns major economies to stall

Global growth is expected to slow further next year, the International Monetary Fund (IMF) said Tuesday, downgrading its forecasts as countries grapple with the fallout from Russia's invasion of Ukraine, spiralling cost-of-living and economic downturns.

The Times of India

IMF cuts India's GDP forecast to 6.8%; warns global economies, says 'worst yet to come'

NEW DELHI: The International Monetary Fund (IMF) on Tuesday slashed India's economic growth forecast to 6.8% for 2022.

The Independent UK

IMF dims outlook for 2023 global economy amid Ukraine war

The International Monetary Fund is downgrading its outlook for the world economy for 2023, citing a long list of threats that include Russia’s war against Ukraine, chronic inflation pressures, punishing interest rates and the lingering consequences of the global pandemic

The Guardian - UK

IMF steps up criticism of mini-budget after ‘disorderly’ rise in borrowing costs – as it happened

International Monday Fund says a ‘change in fiscal policy’ would help calm bond markets…on day that Bank of England steps up its bond-buying support

Financial Times

Bank of England repeats intervention as calls mount for prolonged action

Downing St says Truss sticking to tax cut plans

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