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IMF Fiscal Chief Underscores Need for ‘orderly Debt Restructuring’
Date: October 12, 2022
By Andrea Shalal WASHINGTON (Reuters) – Rising debt levels and mounting fiscal pressures underscore the urgency for more “orderly debt restructuring” efforts to put low-income countries on a more sustainable path, the International Monetary Fund’s fiscal chief said on Wednesday. Fiscal Affairs Director Vitor Gaspar told reporters the problems facing low-income countries had been exacerbated...
Oil Falls on Fears of Global Recession, China Covid Flare-Up
Date: October 11, 2022
By Laura Sanicola (Reuters) – Oil prices fell about 2% on Tuesday, extending the previous session’s almost 2% decline, as recession fears and a flare-up in COVID-19 cases in China raised concerns over global demand. World Bank President David Malpass and International Monetary Fund Managing Director Kristalina Georgieva warned on Monday of a growing risk...
Stocks Tumble Globally on Raft of Economic, Political Worries
Date: October 11, 2022
By Sinéad Carew and Dhara Ranasinghe LONDON/NEW YORK (Reuters) – MSCI’s global index of stocks hit its lowest level in almost two years on Tuesday while oil prices sank on fears about the potential for a global recession as central banks rapidly increase interest rates in an effort to tame inflation. Adding to pressure were...
IMF Should Issue New Reserves to Help Countries Tackle Overlapping Crises – Groups
Date: October 7, 2022
By Andrea Shalal WASHINGTON (Reuters) -The International Monetary Fund should issue $650 billion in new emergency reserves to help its member countries grapple with overlapping health, food, energy and inflation crises, 140 civil society groups said in a letter to the IMF’s board on Thursday. IMF officials in July said a fresh issuance of Special...
White House’s Deese, Asked About UK Economic Plans, Stresses ‘fiscal Prudence’
Date: September 28, 2022
By Andrea Shalal WASHINGTON (Reuters) -White House economic adviser Brian Deese said on Tuesday he was not surprised by the negative reaction of financial markets to Britain’s fiscal plans and tax cuts, underscoring the need to maintain “fiscal prudence, fiscal discipline.” Deese, speaking at an event hosted by the Economic Club of Washington D.C., said...
Sri Lanka to Unveil Debt Restructuring Plan to Creditors
Date: September 23, 2022
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lankan authorities will formally hold talks with international creditors on Friday to start the process of restructuring billions of dollars of its debt and share plans to tackle the island’s worst economic crisis in more than seven decades. The success of the restructuring process is critical for the...