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IMF urges caution

IMF urges caution | In the news: data in the UK Data Service collection across the web | Scoop.it
WASHINGTON, DC, United States (CMC) — The director of the Western Hemisphere Department of the International Monetary Fund (IMF) Alejandro Werner said yesterday Latin America and the Caribbean have become the new coronavirus (COVID-19) global epicentre.

He said the human cost has been tragic, with over 100,000 lives lost. The economic toll has also been steep.
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IEA releases Sustainable Recovery Plan with strong focus on hydropower modernisation | International Hydropower Association

IEA releases Sustainable Recovery Plan with strong focus on hydropower modernisation | International Hydropower Association | In the news: data in the UK Data Service collection across the web | Scoop.it
In response to the Covid-19 pandemic and economic crisis being felt across the world, today the IEA released its Sustainable Recovery Plan.

It seeks to show governments what they can do to boost economic growth, create jobs and put global greenhouse gas emissions into structural decline. 

IHA Chief Executive Eddie Rich welcomed the report: “Trillions of dollars will be spent by governments on the economic recovery. As the report demonstrates, sustainable hydropower can not only deliver long term cheap and clean energy, but also tens of thousands of skilled jobs with the right support. It should be near the top of the shopping list.”
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IEA: ‘Green’ coronavirus recovery would keep global emissions below 2019 peak

IEA: ‘Green’ coronavirus recovery would keep global emissions below 2019 peak | In the news: data in the UK Data Service collection across the web | Scoop.it
The world has a “once-in-a-lifetime opportunity” to pour investment into clean energy and create millions of new jobs, according to the International Energy Agency (IEA).

Its “sustainable recovery plan” for the coronavirus pandemic lays out a series of measures that the agency says would ensure 2019 was the “definitive peak” for global emissions.
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Oil and gas producers' methane emissions could rise in COVID-19 aftermath: IEA | S&P Global Platts

Methane emissions by the global oil and gas industry could rise rather than fall in the aftermath of the COVID-19 crisis, contrasting with an expected reduction in CO2 emissions, as weak prices and policy shifts hamper efforts to contain the potent greenhouse gas, the IEA said June 18.
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USD, JPY Could Rise as IMF Global GDP Outlook Gets Cut Again | MENAFN.COM

USD, JPY Could Rise as IMF Global GDP Outlook Gets Cut Again | MENAFN.COM | In the news: data in the UK Data Service collection across the web | Scoop.it
IMF WORLD ECONOMIC OUTLOOK REPORT REVEALS GDP GROWTH STILL SLUGGISHThe International Monetary Fund (IMF) released its July 2019 World Economic Outlook report and noted that global GDP growth remains subdued Global GDP growth forecasts for 2019 and 2020 were both lowered by 0.1% Safe-haven currencies like theUS DollarandJapanese Yencould benefit if market sentiment deteriorates in response

AnotherIMF World Economic Outlook Report , another downgrade to global GDP growth. The IMF revealed a cut to its global GDP forecasts once again as the trend of slower economic activity continues to bite. Projections for 2019 and 2020 were both lowered by 0.1%, down to 3.2% and 3.5% respectively. The July 2019 update listed sluggish GDP growth across the board with economic activity being weighed down broadly by lingering risks surrounding trade policy uncertainty, Brexit and geopolitical tensions. World trade volume for 2019 is also expected keep drifting lower with the 2019 forecast cut by another 0.9% to 2.5%.
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IMF Cuts 2019 Brazil and Mexico Growth Forecasts to Below 1% - Bloomberg

IMF Cuts 2019 Brazil and Mexico Growth Forecasts to Below 1% - Bloomberg | In the news: data in the UK Data Service collection across the web | Scoop.it
Latin America’s two largest economies will grow less than 1% this year amid weakening confidence and policy uncertainty, according to the International Monetary Fund.

Brazil and Mexico will grow 0.8% and 0.9%, respectively, according to a July update of the IMF’s World Economic Outlook. Two months ago, the IMF had forecast that Brazil would expand between 1% and 1.5%, while its outlook for Mexico’s economy was 1.6% in April. Those cuts bring the IMF’s growth outlook for Latin America down to 0.6%, from 1.4% previously.

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India to Remain Fastest-growing Economy in 2019 & 2020, Says UN Report; Pegs GDP Growth at 7.6 per Cent in 2019-20 | Business News, India News,

India to Remain Fastest-growing Economy in 2019 & 2020, Says UN Report; Pegs GDP Growth at 7.6 per Cent in 2019-20 | Business News, India News, | In the news: data in the UK Data Service collection across the web | Scoop.it
India will continue to remain the world’s fastest-growing large economy in 2019 as well as in 2020, said a UN report on Wednesday, further predicting the country’s GDP to grow at 7.6 per cent in the next fiscal.

According to the UN’s World Economic Situation and Prospects (WESP) 2019, India’s GDP growth is expected to accelerate to 7.6 per cent in 2019-20 from an estimated 7.4 per cent in the current fiscal ending March 2019. The growth rate may come down to 7.4 per cent a year later.
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Economy: From induced recession to rapid growth — Opinion — The Guardian Nigeria Newspaper – Nigeria and World News

Economy: From induced recession to rapid growth — Opinion — The Guardian Nigeria Newspaper – Nigeria and World News | In the news: data in the UK Data Service collection across the web | Scoop.it
According to the NBS, Nigeria’s GDP grew at 1.95 per cent in the first quarter of 2018 and 1.50 per cent in the second quarter. The low and falling growth rates led the Central Bank of Nigeria (CBN) to chorus the IMF/World Bank’s long held disinformation about the country’s economic vulnerabilities and fragilities posing the risk of a relapse after the economy exited the avoidable five-quarter-long recession in the second quarter 2017. But the hyped vulnerabilities appear to be self-induced more than real considering that in the first half of 2018, price of Brent crude oil, which is similar to Nigeria’s sweet crude, averaged $70.75 per barrel compared with $52.18 per barrel in the corresponding period of 2017. Also, crude output volumes have been more robust in 2018 till date.
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Change-Maker And Catalyst: Servcorp Empowers Businesses In Bahrain, The GCC's Fastest-Growing Market

Change-Maker And Catalyst: Servcorp Empowers Businesses In Bahrain, The GCC's Fastest-Growing Market | In the news: data in the UK Data Service collection across the web | Scoop.it
When assessing the relative performance of key nations in the Gulf and Middle East, the IMF World Economic Outlook predicted that in 2018, Bahrain would continue as the fastest-growing GCC economy. While Bahrain has long been seen as one of the key gateways into the region - especially in terms of its prowess in financial services - the kingdom is now offering powerful advantages as a hub par excellence, with the top performance of its own economy being the ideal platform for reaching the $1.5tn market of the GCC.

Indeed, Bahrain is currently enjoying non-oil growth in excess of 5%, according to the Bahrain Economic Quarterly, the prestigious market barometer prepared by the Economic Development Board. What’s more, that non-oil growth is observed across an amalgam of key sectors, embracing advanced hi-tech fields as well as traditional skillsets. For example, Bahrain is seen as a Centre of Excellence for high-value manufacturing and industrial services, while also providing state-of-the-art environments for healthcare and medical equipment, engineering services and - very significantly - renewable energy.
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This could be the secret to emerging economy immunity

This could be the secret to emerging economy immunity | In the news: data in the UK Data Service collection across the web | Scoop.it
Next month, policymakers and experts will gather in Bali Nusa Dua, Indonesia, for the Annual Meetings of the International Monetary Fund and World Bank Group. The location is fitting: Indonesia was at the epicenter of the Asian financial crisis that erupted just over 20 years ago. That crisis carries important lessons for the current turmoil in emerging markets like Argentina and Turkey.

Predicting whether today’s problems will actually bring about a crisis like that of 1997-1998 is an exercise that I will leave to others. Nonetheless, it is worth comparing the circumstances surrounding the crisis a generation ago to those prevailing today, in order to discern better which emerging economies are most vulnerable.
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PM Hou addresses private sector, business community

PM Hou addresses private sector, business community | In the news: data in the UK Data Service collection across the web | Scoop.it
Read below the Prime Minister Hon. Rick Hou’s address delivered at the Breakfast hosted by the Solomon Islands Chamber of Commerce and Industry (SICCI) today (Wednesday 27th June) at the Heri…
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“Forget the Donations, Stupid”: New dynamics in funding the reconstruction of Iraq – blog

“Forget the Donations, Stupid”: New dynamics in funding the reconstruction of Iraq – blog | In the news: data in the UK Data Service collection across the web | Scoop.it
In the months following the Kuwait Conference a sea change has taken place in Iraq’s financial health that has yet to be reflected in perceptions.

 Higher oil prices, as a result of the changed dynamics of the oil market and the robust health of the global economy, has had a transformative effect on Iraq’s finances.

 By end of 2018, based on realized oil prices of 2017 and average year-to-date for 2018, Iraq is on its way to have a cumulative two-year budget surplus of $18.8bn instead of the initially projected cumulative deficit of $19.4bn.

 This would allow it to start the reconstruction process on its own resources. Coupled with a potential surplus of $9.3bn in 2019 would give the country a great deal of flexibility to fund further reconstruction over the near-term.

 The surplus of $18.8bn by end of 2018 would equal a stimulus of 14.5% of non-oil GDP once reconstruction projects are underway, which would further accelerate economic activity.

 However, this three-year window of opportunity faces the twin headwinds of Iraq’s corrosive corruption and all of prior governments’ failures to spend oil wealth on  rebuilding the country’s infrastructure, spending it instead on expanding the state’s role in the economy.
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Colin Robertson » Blog Archive » Primer to the G7

Colin Robertson » Blog Archive » Primer to the G7 | In the news: data in the UK Data Service collection across the web | Scoop.it
On Friday and Saturday, June 8-9, the leaders of the major democratic nations will meet in their 44th summit to discuss global geopolitical and socioeconomic issues at Charlevoix’s magnificent Manoir Richelieu. Each leader will have their own agenda. Prime Minister Justin Trudeau’s challenge as chair is to bring his fellow leaders into as much consensus as possible given their disparate perspectives on diverse issues including gender, work, climate, energy, our oceans, protectionism, populism and extremism.

The summit, in the picturesque La Malbaie region, 150 kilometres northeast of Quebec City, takes place against an erosion of trust in our government institutions – international, national, regional and municipal, in once-mainstream political parties, in business, in the media and in our leadership generally.
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Recovering from the Great Lockdown

Recovering from the Great Lockdown | In the news: data in the UK Data Service collection across the web | Scoop.it
With the Great Lockdown put into effect to help contain the spread of Covid-19, the world has had to face the worst recession since the Great Depression. Compared to the International Monetary Fund’s (IMF) World Economic Outlook forecast for April 2020 where the global economy was expected to contract by three per cent, new estimates reveal that the recession may as well run deeper with global output levels falling by 4.9% in June 2020. Because of this, recovery is now anticipated to be more gradual than previously anticipated. For countries that have begun their ascent towards recovery, their climb is still uncertain and ambiguous at best.
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IEA calls for $3 trillion global investment in COVID-19 recovery

IEA calls for $3 trillion global investment in COVID-19 recovery | In the news: data in the UK Data Service collection across the web | Scoop.it
The International Energy Agency has unveiled a global COVID-19 recovery plan for the global energy sector which outlines a three-year series of actions designed to revitalize economies, boost employment and make energy systems cleaner and more resilient.

At a live-streamed press briefing, IEA executive director Dr Fatih Birol said: “Our numbers show that there has been a huge impact across the energy sector, some parts more, some parts less, and a big decline in carbon usage.

“We are putting on the table a road-map of how to get out this crisis in better shape, [meaning] a much more modern, cleaner, more resilient energy system, while energy policies give a boost to economic growth, and help to create new jobs.”
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IEA unveils framework for future government energy action – Kallanish Energy News

IEA unveils framework for future government energy action – Kallanish Energy News | In the news: data in the UK Data Service collection across the web | Scoop.it
The International Energy Agency has released an energy sector framework for governments to boost economic growth, create new employment opportunities and accelerate cleaner energy infrastructures.

The World Energy Outlook Special Report on Sustainable Recovery was published on Thursday by the IEA, based on analysis conducted in cooperation with the International Monetary Fund, Kallanish Energy learns.

The framework includes a series of actions that could be implemented within governmental policies and targeted investments between 2021 and 2023, the IEA said, as policymakers seek to address the consequences of the Covid-19 pandemic.
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IEA Details $3 Trillion Sustainable Recovery Plan to Revitalize Economies

IEA Details $3 Trillion Sustainable Recovery Plan to Revitalize Economies | In the news: data in the UK Data Service collection across the web | Scoop.it
The International Energy Agency (IEA) published a new plan for governments worldwide that outlines policies and investments for making energy systems cleaner and more resilient.

“Special Report on Sustainable Recovery,” from the IEA’s World Energy Outlook series, is based on an analysis completed in coordination with the International Monetary Fund. The plan details a set of policy actions and targeted investments from 2021 to 2023 that could achieve a number of significant outcomes as governments respond to the economic effects of the covid-19 pandemic.
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IMF cuts India’s growth forecast for 2019-20 to 7%

IMF cuts India’s growth forecast for 2019-20 to 7% | In the news: data in the UK Data Service collection across the web | Scoop.it
Cites weaker-than-expected outlook for domestic demand
The International Monetary Fund (IMF) has cut India’s growth forecast for 2019-20 to 7% from its forecast in April of 7.3% on poor demand conditions, it said on Tuesday.

The IMF’s World Economic Outlook July update also cut India’s growth forecast in 2020-21 to 7.2% from the previous estimate of 7.5%.

“India’s economy is set to grow at 7% in 2019, picking up to 7.2% in 2020,” the report said. “The downward revision of 0.3 percentage points for both years reflects a weaker-than-expected outlook for domestic demand.”
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IMF Executive Board Concludes Regional Consultation with West African Economic and Monetary Union - Global Investing Today

IMF Executive Board Concludes Regional Consultation with West African Economic and Monetary Union - Global Investing Today | In the news: data in the UK Data Service collection across the web | Scoop.it
Economic activity remains strong with subdued inflation. Despite adverse terms-of-trade shocks and security concerns in some member-countries, real GDP growth is estimated to have exceeded 6 percent for the 7th consecutive year in 2018, fueled by strong domestic demand. The aggregate fiscal deficit was reduced by ½ percentage point of GDP and external reserves increased, mainly supported by Eurobond issuances. However, this dynamic has come with persistent vulnerabilities. Public debt and its servicing costs increased in 2018, partly because of below-the-line budgetary operations. Preliminary data point to an increase in total debt to 52.5 percent of GDP in 2018 from 50.1 percent in 2017, and in total debt service to 33 percent of government revenue in 2018 from 26.4 percent in 2017. The external current account deficit is estimated to have increased to 6.8 percent in 2018 from 6.6 percent of GDP in 2017. This increase was underpinned by strong public capital spending but also by worsening terms-of-trade on the back of higher world oil prices.
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The five major challenges world leaders at Davos must wrap their minds around

The five major challenges world leaders at Davos must wrap their minds around | In the news: data in the UK Data Service collection across the web | Scoop.it
There are five major global challenges world leaders meeting for the World Economic Forum’s annual event at Davos this week need to address.

These include strains occasioned by global power shifts, turbulence in major emerging economies, growing geopolitical and trade tensions between the great powers, Africa’s weak integration with new forms of global production, and a host of systemic risks that are related to environment, cyber security, and the potential for another global recession.
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Probable secret to emerging economy immunity | Dr.Lamba's Awakening Call

Probable secret to emerging economy immunity | Dr.Lamba's Awakening Call | In the news: data in the UK Data Service collection across the web | Scoop.it
In coming days policymakers and experts will gather in Bali Nusa Dua, Indonesia, for the Annual Meetings of the International Monetary Fund and World Bank Group. The location is fitting: Indonesia was at the epicenter of the Asian financial crisis that erupted just over 20 years ago. That crisis carries important lessons for the current turmoil in emerging markets like Argentina and Turkey.
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Trade war and implications for Africa

Trade war and implications for Africa | In the news: data in the UK Data Service collection across the web | Scoop.it
Over the last few months, trade war, which is an economic conflict resulting from extreme protectionism, has taken several forms and targeted several products.

Triggered by the US Administration to address trade imbalances with its major trading partners, the government imposed tariffs on solar panels and washing machines earlier this year and subsequently a 25 percent tariff on steel imports and a 10 percent tariff on aluminium imports, with threats to impose several other tariffs.

Other countries retaliated, Canada, China, the EU, India, and Mexico in particular—which together accounted for 80 percent of the U.S. trade deficit in 2017—have imposed retaliatory tariffs on US products, with China, the EU and Mexico also filing complaints against the US at the WTO. 
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Was Malthus Right?

Was Malthus Right? | In the news: data in the UK Data Service collection across the web | Scoop.it
Thomas Malthus, whose most famous work The Principle of Population was published in 1798, did not believe that society’s improvement is inevitable. Indeed when things do improve, he thought, the resultant population increase becomes an obstacle to further progress. In short, as he put it, the power of population growth is greater than the power of the earth to produce the means of subsistence.

Was he right? Yes and no. No, if only because no one thing in the complex real world can have such singular explanatory power. And no, more specifically to his argument, because subsistence is no longer an issue. Yet as late as 1972 we still believed it was. The Club of Rome’s report “The Limits to Growth” argued that there were real limits and that the earth’s resources, from arable land to oil, were finite. Oil especially was thought to be running out.
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India no longer home to the most poor: 44 Indians escape extreme poverty every minute - IBTimes India

India no longer home to the most poor: 44 Indians escape extreme poverty every minute - IBTimes India | In the news: data in the UK Data Service collection across the web | Scoop.it
About 44 people escape poverty in India every minute, the fastest rate of poverty reduction in the world. A recent study by Brookings shows that India is no longer the country with the most number of poor people.

India could drop to the third position later this year if the present rate continues. At number one is the African nation of Nigeria with a large number of people living in extreme poverty, followed by the Democratic Republic of the Congo taking the second spot soon.

Brookings defines extreme poverty as living on less than $1.9 per day and says that by 2022 India will have less than 3 percent of its population living in extreme poverty, a number that could reduce to zero altogether by 2030.
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Bangladesh’s economic success & lessons

Bangladesh’s economic success & lessons | In the news: data in the UK Data Service collection across the web | Scoop.it
Strategic government investments, but managed by a range of private public partnerships (PPP) has seen Bangladesh become one of the fastest growing economies in the world. Today, Bangladesh is a booming economy, recently making the list of low-middle income countries as published by the World Bank. According to the IMF, the Bangladeshi economy is projected to grow from $180 billion to $322 billion by 2021.

 

The total size of the GDP in 2017 was $249.86 billion and the gradually escalating growth rate was 7.28%. High growth domestic markets, government support, lower valuations of takeover targets and ready access to capital have all provided unprecedented opportunities for investors across the world to explore new markets in the country.

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