Home / World Economy / IMF/OECD News (page 3)

IMF/OECD News

Leading indicators continue to anticipate slowing growth in most major economies

The OECD Composite Leading Indicators (CLIs), designed to anticipate turning points and economic fluctuations relative to trend with information up to October 2022, continue to indicate slowing growth in the OECD area and in most major economies. Among major OECD economies, the CLIs, dragged down by high inflation, increasing interest rates and declining share prices, remain below trend and continue to anticipate growth losing momentum in the United States, the United Kingdom and Canada, as well as in the euro area as a whole, including Germany, France and Italy. By ...

Read More »

Growth and economic well-being: Second quarter 2022, OECD

Real household income per capita fell by 0.5% in the OECD in the second quarter of 2022, contrasting with growth of 0.3% in real GDP per capita (Figure 1). This is the third quarter in a row that real household income per capita has declined in the OECD, as rising consumer prices continue to undermine growth in household income when measured in real terms. Real household income per capita fell in most OECD countries for which data is available in Q2 2022, and in all G7 economies[1] except Germany. Real ...

Read More »

COP27: IMF chief says $75/ton carbon price needed by 2030

The price of carbon needs to average at least $75 a ton globally by the end of the decade for global climate goals to succeed, the head of the International Monetary Fund told Reuters. Speaking on the sidelines of the COP27 climate talks in the Egyptian coastal resort town of Sharm el-Sheikh, IMF Managing Director Kristalina Georgieva said the pace of change in the real economy was still “way too slow”. Recent analysis by the World Bank-affiliated group suggests the sum total of global national commitments on reducing climate-damaging emissions ...

Read More »

Western Hemisphere Regional Economic Outlook: Navigating Tighter Global Financial Conditions

Recent developments in Latin America and the Caribbean have been dominated by the impact of two distinct global shocks: the COVID-19 pandemic and the Russian invasion of Ukraine. A third shock—tightening global financial conditions—is now shaping the outlook for the region, the International Monetary Fund (IMF) said in its latest Regional Economic Outlook for the Western Hemisphere . After contracting sharply in 2020, most of the economies in Latin America and the Caribbean recovered strongly in 2021 and early 2022, helped by the global recovery, the normalization of service sectors, ...

Read More »

Share of emissions covered by carbon prices is rising, OECD data shows

As part of their efforts to cut greenhouse gas (GHG) emissions, countries have increased their use of carbon pricing through taxes or emissions trading systems, with coverage increasing across countries and sectors in 2021, according to a new OECD report. Pricing Greenhouse Gas Emissions: Turning climate targets into climate action finds that more than 40% of GHG emissions were covered by carbon prices in 2021, up from 32% in 2018, with average carbon prices higher in 47 of the 71 countries studied. Average explicit carbon prices from carbon taxes and ...

Read More »

Asia Pacific region faces risks from global financial tightening, slowdown in China: IMF official

The Asia Pacific region is facing three main risks, including due to global financial tightening and a slowdown in China, according to an IMF official. Shanaka Jayanath Peiris, Division Chief of Regional Studies Division, Asia Pacific Department at the IMF, also said that currencies in the region have depreciated sharply while public debt ratios have increased. “We have identified three main risks to the region — global financial tightening, Ukraine-Russia war, which has raised commodity prices, but (has) also slowed external demand particularly from Europe and the slowdown in China,” ...

Read More »

IMF staff recommends Turkey raise rates, boost central bank independence

Turkey should tighten monetary policy and give its central bank more independence, a mission from the International Monetary Fund (IMF) said on Friday. “To address (Turkey’s) challenges, the mission recommended early policy rate hikes accompanied by moves to strengthen the central bank’s independence,” said the IMF in a press release. “Such moves would help reduce inflation more durably and allow reserve buffers to be rebuilt over time.” Forex reserves have dropped sharply in recent years due to market interventions and in the wake of a currency crisis in December. In ...

Read More »

Inflation rises to 10.5% in September 2022, with inflation pressures broadening beyond food and energy in most countries

Year-on-year inflation in the OECD as measured by the Consumer Price Index (CPI) rose to 10.5% in September 2022, from 10.3% in August (Figure 1). Double-digit inflation in September 2022 was recorded in 19 of 38 OECD countries, with the highest rates observed in Estonia, Hungary, Latvia, Lithuania and Türkiye (all above 20%). Inflation excluding food and energy continued to rise in the OECD in September (to 7.6%). In particular, services prices accelerated in a majority of OECD countries. Although energy inflation fell somewhat for the third consecutive month, down ...

Read More »

IMF says it’s monitoring developments on Ukraine grain export deal

The International Monetary Fund on Wednesday said it would continue to carefully monitor developments on a deal freeing up grain exports from war-torn Ukraine after Moscow reversed course and said it would resume its participation. An IMF spokesperson said the deal allowing grain exports through a Black Sea corridor had been “instrumental” in reducing the impact of Russia’s war on global food markets and should be maintained. Russia on Saturday suspended its participation, saying it could not guarantee safety for civilian ships crossing the Black Sea after an attack on ...

Read More »

U.S. Q3 GDP overshot IMF forecasts, but growth volatile -official

The International Monetary Fund may need to raise its forecast for U.S. growth after stronger-than-expected third-quarter GDP data, a senior IMF official said on Wednesday, but Federal Reserve rate hikes are starting to cool demand, especially in housing. Nigel Chalk, acting director of the Fund’s Western Hemisphere department, told Reuters in an interview that the latest IMF World Economic Outlook forecasts for 1.6% U.S. real GDP growth in 2022 had assumed a lower third-quarter print than the 2.6% annual growth rate reported last week by the Commerce Department. “It was ...

Read More »

IMF says Mideast, North Africa economies resilient in 2022

The economies of Middle Eastern and North African countries were resilient this year, but double-digit inflation is expected to slow growth in 2023, the International Monetary Fund said Monday. The IMF forecast GDP growth at 5% in 2022 for countries in the region. For oil-exporting nations, growth was projected at 5.2%, mainly due to high oil prices and robust GDP growth in other countries, which offset the impact of high food prices. But the rate of growth is expected to slow in 2023, due in part to inflation driven by ...

Read More »

MENA, Central Asia economies show resilience but global headwinds loom -IMF

Economic activity in the Middle East and Central Asia was resilient with recovery continuing in 2022 but the region must guard against growing global headwinds and push ahead with reforms, the International Monetary Fund said on Monday. While crude exporters benefit from an oil windfall projected to accrue a cumulative $1 trillion over 2022-2026, emerging market and middle-income states face deep terms-of-trade shock and curtailed access to market financing. Countries should be on alert as “headwinds are growing, vulnerabilities are growing” with a global economic slowdown, volatile food and energy ...

Read More »

China’s policies contribute 0.6 percentage points to GDP growth: IMF official

China’s policy stance in 2022 made a positive contribution of 0.6 percentage points to the country’s economic development amid the COVID-19 pandemic and weakening external demand, a representative of the IMF in China said on Thursday, as the institution warned that the “worst is yet to come” for the global economy. As many economies are troubled by the US’ aggressive monetary tightening, historically high inflation and growing geopolitical tensions, China will continue to serve as a stabilizer for the global economic recovery, experts said. Strong and effective monetary and fiscal ...

Read More »

IMF cuts Asia’s economic forecasts as China’s slowdown bites

The International Monetary Fund cut Asia’s economic forecasts as global monetary tightening, rising inflation blamed on the war in Ukraine, and China’s sharp slowdown dampened the region’s recovery prospects. While inflation in Asia remains subdued compared with other regions, most central banks must continue raising interest rates to ensure inflation expectations do not become de-anchored, the IMF said in its Asia-Pacific regional economic outlook report. “Asia’s strong economic rebound early this year is losing momentum, with a weaker-than expected second quarter,” said Krishna Srinivasan, director of the IMF’s Asia and ...

Read More »

Ukraine external financing needs could reach $5 bln a month, IMF’s Georgieva says

Ukraine’s external financing needs will be around $3 billion a month through 2023 in a best-case scenario, but could rise as high as $5 billion if Russian bombing becomes “even more dramatic,” IMF Managing Director Kristalina Georgieva said. The International Monetary Fund is working with Ukrainian authorities to help define and implement the country’s macroeconomic policies and what will be required to become a member of the European Union, as well as produce reliable financial projections, Georgieva told a conference in Berlin on Tuesday. She said IMF staff had met ...

Read More »

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping