The International Monetary Fund warns of (people taking to the streets) due to the economic crisis: a message to rich countries

[yota691]

Joint Statement of the Multilateral Leaders Task Force on COVID-19 Vaccines, Therapeutics, and Diagnostics for Developing Countries following its Second Meeting

New Global Database to Enhance Transparency and Improve Delivery of COVID-19 Tools

 

July 30, 2021

Washington, DC: The Task Force on COVID-19 Vaccines, Therapeutics and Diagnostics for Developing Countries, established by the heads of the International Monetary Fund, World Bank Group, World Health Organization and the World Trade Organization to identify and resolve finance and trade impediments to vaccine, diagnostics, therapeutic production and deliveries, today launched a new website that includes the first phase of a global database and country dashboards on vaccines, therapeutics, and diagnostics to guide their work and advocacy. It also today issued the following joint statement:

“ We reiterate the urgency of providing access to COVID-19 vaccines, tests and treatments to people throughout the developing world. In the area of vaccines, a key constraint is the acute and alarming shortage in the supply of doses to low and low-middle income countries, especially for the rest of 2021. We call on countries with advanced COVID-19 vaccination programs to release as soon as possible as much of their contracted vaccine doses and options as possible to COVAX, AVAT, and low and low-middle income countries.

We are concerned that vaccine delivery schedules and contracts for COVAX, AVAT, and low and low-middle income countries are delayed or too slow. Less than 5% of vaccine doses that were pre-purchased by or for low-income countries have been delivered. Our common target is for at least 40% of people in low and low-middle income countries to be vaccinated by the end of 2021. We estimate that less than 20% of the necessary vaccines is currently scheduled for delivery to these countries, whether through COVAX, AVAT, or bilateral deals and dose-sharing agreements.

We urge COVID-19 vaccine manufacturers to redouble their efforts to scale up production of vaccines specifically for these countries, and to ensure that the supply of doses to COVAX and low and low-middle income countries takes precedence over the promotion of boosters and other activities. We call on governments to reduce or eliminate barriers to the export of vaccines and all materials involved in their production and deployment. We underscore the urgent need for all parties to address supply chain and trade bottlenecks for vaccines, testing, and therapeutics as well as all of the materials involved in their production and deployment.

As per the IMF staff’s $50 billion proposal to end the pandemic, and in line with the priorities set out by WHO, WTO, IMF and the World Bank Group, over $35 billion in grant are needed with only one third of this financed to date. We welcome the recent announcement by COVAX and the World Bank to accelerate vaccine supplies for developing countries through a new financing mechanism. We also welcome the partnership between the World Bank and AVAT, noting that World Bank financing is now available to support the purchase and deployment of doses secured by both AVAT and COVAX.

 

It is critical to improve clarity and transparency around the evolving vaccine market, expected production volumes, delivery schedules, and pre-purchase options. We call on manufacturers to accelerate delivery to developing countries and we call on advanced economies to scale-up near-term deliveries to developing countries. ”

The database and country-by-country dashboards, which also build on the IMF-WHO COVID-19 Vaccine Supply Tracker, seek to focus international attention and mobilize action by illuminating specific gaps, not just globally but also country-by-country.

[yota691]

Emerging market conditions and global growth outlook cloud

 

Hisham Khaled Abbas

Articles Hisham Khaled Abbas "In some countries we are seeing an unparalleled recovery, driven by a combination of strong fiscal and monetary policy support and rapid pandemic vaccinations," says the International Monetary Fund, which forecasts 6% global growth for this year . But that's not the whole story of what the IMF calls a "exacerbated two-track recovery, driven by huge differences in vaccine availability, infection rates, and ability to provide policy support." IMF Managing Director Kristalina Georgieva is calling for debt concessions and other urgent assistance to vulnerable and low-income countries, and appreciates the support recently expressed by G-20 finance ministers and central bank governors "for our efforts to assist countries facing unsustainable debt burdens ." Emerging market debt conditions, mitigation proposals, and policy concerns did not inflate prior to the pandemic. In an IMF blog in January 2021, Tobias Adrian and Fabio Natalucci considered financial stability risks "under examination so far", but risks that need to be addressed include rising corporate and sovereign debt and "market access concerns for some developing economies ". "Emerging markets are not out of the woods," Emre Teftik, director of sustainability research at the Institute of International Finance, said in a recent interview. "The government budget deficit is set to remain high, leading to an increase in debt accumulation ." The strong US dollar, rising domestic prices, and inflationary pressures add to the burdens on emerging market governments, as Tiftek indicated that the interest expenses have reached record levels . Foreign and local currencies Global credit has been well supported by fiscal and monetary support, especially central bank facilities. “Domestic debt dynamics have worsened, but recently they have seen delays in the form of higher inflation, growth and tax collection, ” said head of emerging markets research at Deutsche Bank Securities . Still, high debt is the main vulnerability facing the most vulnerable emerging economies, according to Giacomelli, especially as prices return to normal. He said, “In many risky emerging markets, it is dangerous to assume that funding rates will be below growth. Even in developed markets this may come back to haunt investors in the coming years .” An economist previously pointed out two distinct types of risks associated with the public debt burden of developing countries: those associated with the accumulation of foreign currency debt. and those related to debts that may not be repaid in local currency . The research paper by David Lubin, a British think tank, says that to avoid sovereign debt crises, policy makers should “increase their focus on the external balance sheets of emerging economies. In particular, the IMF’s reserve adequacy assessment (ARA) metric should play a greater role in determining whether countries can take on additional commitments .” In addition, foreign currency debt will be a big factor in how emerging economies deal with the so-called gradual, when the Federal Reserve begins to pull back from asset purchases . Eye on capital flows “We expect the first Fed rate hike to be in 2023, but the slowdown in asset purchases — or the shrinking of the balance sheet — will be very soon, near the end of this year or early 2022, ” said the global head of sovereign ratings at credit rating agency Fitch . He added: “There are always risks around policy inflection points, how they are communicated, and how they are received by markets, so Fed tapering will have to be closely monitored. If the market perception is that Fed tightening is going faster than previously expected, or at a rate that If inflation is lower than previously envisaged, capital flows into emerging markets may be affected .” Debt service and discounts Total emerging market debt as of the first quarter of 2021 ($11 trillion) is higher than it was at the end of 2019, or 246% of GDP, according to the Institute of International Finance's Global Debt Monitoring Report last June. He noted that with government debt levels rising by 15% since the end of 2019, along with the hit to revenue from the pandemic, "serving debt is a challenge for many." In addition, “increasing investor focus on climate resilience could increase the pressure on borrowing costs for the supremacy of vulnerable emerging markets .” Credit rating agency Fitch is looking at the multiple recent credit cuts as clues to where the Fed's moves and other trends will have a greater impact. It says the average emerging market sovereign rating has fallen by half a notch since the start of last year, and is close to an all-time low, at BB-. "The regions most affected were emerging Asia and Sub-Saharan Africa, while rankings in emerging Europe were the least affected," McCormack noted. In other words, Fitch has rated 81 emerging market sovereigns; since the start of 2020, 28 countries (35%) have been downgraded, some by several notches . He sees two "notable risks" moving into the second half of 2021. "First, economic shutdowns or disruptions associated with the emergence of the virus are possible in all regions," McCormack explained. Cases have recently risen in Brazil, Indonesia, Russia, South Africa, and Thailand . " The second risk is a sudden change in external financing conditions, which we do not anticipate but cannot rule out ." In a quarterly report on debt strategy, Pierre-Yves Barrot (JPMorgan Asset Management) sees the continued downgrades of emerging markets' sovereign rating beyond upgrades in 2021, "but the trend is improving from 2020 ". Advised Tiftik of IIF investors "not to panic , " he said , adding that the Fed raise interest rates will be slow and moderate. "Emerging markets' reliance on US dollar funding is much more moderate than it was in the lead-up to the 2013 tantrum," Tiftek continued. And with foreign currency reserves “high enough” in many emerging markets, “foreign currency denominated debt remains attractive .” While the general sentiment should remain cautious, a major downturn is not expected . “Emerging markets remain the engine of growth, and their growth model is primarily debt-driven,” said Tiftik. They make up 55% of the global economy, and their share of profits is expected to exceed 60% over the next five years. Any slowdown in emerging market growth amid potential pressure on emerging market debt would be a significant drag on global growth .” JPMorgan Asset Management's Barrow concluded: "As we look forward, we see the expected recovery in global growth as supportive of emerging market debt, although the inevitable tightening of the following financial conditions could lead to headwinds. We favor credit over rates as policy returns." cash to normal, and we prefer issuers that are exposed to commodities and those that have lower financing needs .”

Views 207   Date added 11/08/2021

[DWS112]

On 8/3/2021 at 8:09 AM, yota691 said:

“It is a historic decision - this is the largest allocation of SDR allocations in the history of the Fund...

Are these SDRs digital ? The IMF has expressed its desire to go e-SDR !

 

 

 

[blueskyline]

18 hours ago, DWS112 said:

Are these SDRs digital ? The IMF has expressed its desire to go e-SDR !

 

 

 

Good Morning DSW112,DV's....I also wonder is our 1 to 3.5 trillion dollar infrastructure bill about to be digital or would it need to be digital if the imf transitions to digital SDR's ?

[yota691]

IMF SDR & DIGITAL TRANSFORMATION UNDERWAY! XRP PRICE GEARING UP FOR A BULLISH BREAKOUT!
16,942 viewsAug 23, 2021

[yota691]

What is the SDR?
4,358 views Aug 2, 2021

 

 

IMF

The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves. Learn more about Special Drawing Rights in this short video.

[Ziggy]

20 minutes ago, yota691 said:

IMF SDR & DIGITAL TRANSFORMATION UNDERWAY! XRP PRICE GEARING UP FOR A BULLISH BREAKOUT!
16,942 viewsAug 23, 2021

 

 

The digital era is upon us and it’s still the ground floor for investing in this new reality that we will all live in. I could talk about XRP for a long long time in regards to how this one crypto will revolutionize the world that we live in. Everyone that is on this site. VIP & Non VIP members. Do yourselves and your family a favor and invest in this crypto! Generational wealth - life changing wealth will be generated from Crypto; but XRP will be one of the few that will bring about life changing wealth. 

 

Think about where you would be right now if you owned Amazon, Coca Cola, Tesla, Apple, Google etc. stock when they first launched. You probably wouldn’t be here reading this right now. 

 

Crypto is literally at the ground floor and getting ready to be globally adopted.

 

The Crypto market that we are currently in is about to make some serious returns. The type of technology that is transpiring in the world right now is absolutely mind blowing. 

 

The world is about to see the fourth industrial revolution, and it’s going to revolutionize the financial world. 

 

The technology that we currently use in the world of finance is old antiquated technology, and is extremely outdated compared to what currently exist today with crypto currency and blockchain technology. 

 

The world is moving faster and faster into the digital age. We went from home phones that used to have 10-20 feet of wire attached to it - to now holding all of the worlds knowledge in the palm of our hands through a cell phone. 

 

That type of change that we have lived through, with the old type of technology for phones - is about to occur within the world of finance. 

 

Currently, to process a wire transfer from one financial account to another is a period of 24 hours and sometimes up to 48 hours for clearing purposes. That is all about to change. 

 

A wire transfer using blockchain technology will make the old 24 hour transaction occur in under 9 seconds and faster. 

 

The original price for Bitcoin when it launched in 2009, compared to what it is right now is mind blowing. You were looking at pennies on the dollar back then per coin, compared to $49,000 today per coin. 

 

BUT

 

This is just my two 

[ronscarpa]

15 hours ago, yota691 said:

What is the SDR...?  The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves. Learn more about Special Drawing Rights in this short video.

 

Thanks yota691 ... somewhat informative ... RON 

[MyLadiesDaddy]

The IMF wants the SDRs to replace the dollar as the world's Reserve currency. That should tell you all you need to know about the condition of the Dollar. 

 

The time to purchase Silver and Gold is fast running out. The collapse of the world economy is imminent. 

[yota691]

 

IMF: Iraq's share of special drawing rights amounted to more than two billion dollars

 

 2021-08-28 08:20

 

Shafaq News/ The International Monetary Fund announced on Saturday that Iraq's share of the IMF's Special Drawing Rights amounted to more than $2 billion.

The International Monetary Fund announced that Special Drawing Rights (SDRs) were effective for all 190 members, equivalent to about $650 billion, on August 23, 2021. 

The fund said in a report seen by Shafak News Agency; "Iraq's share of the IMF's Special Drawing Rights amounts to 1.594,700,000 billion units, equivalent to two billion and 264 million and 742 thousand dollars out of its financial share in the fund of 0.35%," noting that "these financial allocations to Iraq came in accordance with its current shares in the Fund." .

The fund indicated that "this allocation will benefit all members to address the long-term global need for reserves, build confidence, enhance the resilience and stability of the global economy, and will especially help the most vulnerable countries struggling to deal with the impact of the COVID-19 crisis."

The International Monetary Fund, under its founding agreement, may distribute allocations from the Special Drawing Rights to member countries in proportion to their membership quotas, and this distribution allows each member country to obtain an international reserve asset without cost or conditions.

[yota691]

Iraqi Planning announces borrowing $ 100 million to buy Corona vaccines

Iraqi Ministry of Planning

 September 01, 2021 11:56 am

Mubasher: The Iraqi Ministry of Planning announced, today, Tuesday, that it would not stop any project funded by the World Bank, while indicating that Iraq borrowed $ 100 million to purchase vaccines for the Corona pandemic.

 

The Undersecretary of the Ministry, Maher Hammad, told the Iraqi News Agency, "Conscious", that "the ministry has not stopped any projects funded by the World Bank within the general budget."

And the ministry indicated that "any important project for the country is approved according to basic requirements, as the project and the party that adopts the funding is considered, in addition to the details of the loans provided by the Ministry of Finance."

He added, "The World Bank proposed spending the money allocated to the delayed projects on operational issues, but we rejected it altogether."

She also indicated that "Iraq borrowed from the World Bank an amount of 100 million dollars as a down payment on the purchase of vaccines for the Corona pandemic, as the bank wanted to take this borrowing from the projects, but we asked him to take it from their treasury as a direct loan to the Ministry of Finance."
He continued, "We do not give money from projects."

[yota691]

#Forbes publishes a report on the economic situation of the Gulf Cooperation Council countries ... a 21% increase in #Kuwait's foreign reserves in 2020

ECONOMY NOW

Foreign reserves in the Gulf regain their balance after losing $38 billion in 2020

Now - agencies  September 16, 2021, 9:59 am  157 views0

 

 

 

Forbes Middle East magazine published a report on the economic situation of the Gulf Cooperation Council states, which pointed to a "21 percent increase in Kuwait's foreign reserves in 2020".

 

The report said that central bank data showed that the decline in oil prices and the scarcity of tourists last year due to the Covid-19 pandemic led to a decrease in the foreign exchange reserves of the GCC countries, while some countries were able to obtain financing from the global debt markets to enhance their foreign reserves.

He added that the total official reserves of the Gulf Cooperation Council countries decreased by $38 billion in 2020, from about $724 billion in January last year to $686 billion at the end of the year, according to Forbes Middle East calculations.

 

According to the magazine's estimates, Gulf foreign reserves continued to decline but at a significantly slower pace during the first half of 2021, declining by $2.5 billion compared to the $56.8 billion decline experienced during the same period the previous year.

 

The pandemic had a major impact on oil prices, causing turmoil on an unprecedented global level, as demand for fuel fell to unprecedented low levels. The decline in fuel prices and demand led to a scarcity of foreign exchange flows to the oil-exporting countries, prompting some countries to take advantage of their foreign reserves and issue debts to finance external obligations.

 

The financial reports of the central banks in the Gulf countries showed that half of the Gulf Cooperation Council countries witnessed a decrease in foreign currency reserves in 2020.

 

As for Bahrain, which has the lowest foreign currency reserves, it recorded the highest drop among the Gulf Cooperation Council countries during the same period. The country's reserves fell by about 43% last year, but managed to recover after the country sold debts worth two billion dollars in foreign currency in January 2021.

 

Sovereign debt issuances

 

Saudi Arabia, the largest economy in the Middle East, witnessed the largest decline in the nominal value of foreign reserves last year Central bank reserves decreased by about $46 billion from about $500 billion to $454 by the end of 2020.

 

Meanwhile, Kuwait managed to maintain a balance of payments surplus as exports of goods and services outstripped its imports last year. This surplus was offset by a 21% rise in the country’s foreign reserves in 2020.

 

In order to boost foreign currency inflows, some GCC countries resorted to issuing sovereign debt to attract new money. Bahrain sold $4 billion in bonds and sukuk in 2020, and another $2 billion in January 2021 according to Reuters, while Oman raised $3.25 billion by selling bonds in January and another $1.75 billion in June.

 

The foreign reserves of the Central Bank provide a glimpse into the country's ability to support its national currency, pay the cost of imports, and finance external obligations. These reserves also help governments to deal with economic crises.

 

Forbes Middle East delves into the financial reports of central banks, shedding light on Gulf foreign reserves including gold from the beginning of the year 2020 until the end of June 2021.

 

Kuwait

 

Reserves at the beginning of the year 2020: $40.25 billion

Level in June 2021: $45.7 billion

Change since the beginning Year 2020: an increase of 13.5%.

Monthly reports from the Central Bank of Kuwait showed that the Central Bank of Kuwait has increased its foreign exchange reserves by about $5.5 billion since the beginning of the year 2020, as it jumped from $40.25 billion to $45.7 billion at the end of the first half of 2021.

 

Despite the impact of the pandemic on oil prices, Kuwait maintained a balance of payments surplus last year. The Gulf state recorded a surplus of $11 billion last year, according to a report by the National Bank of Kuwait.

 

Foreign tourism and remittances of workers abroad witnessed a decline in Kuwait during the same period, which partially offset the impact of the decline in oil export revenues on the balance of payments.

 

However, the country's official reserves decreased by $3 billion from $48.7 billion to $45.6 billion during the first half of 2021.

 

Despite progress in vaccination efforts and recovery in the oil trade, the delta-mutated boom remains a major concern about Global growth and oil prices.

 

On August 23, the International Monetary Fund injected the equivalent of $650 billion - in the largest allocation of Special Drawing Rights (SDRs) - to its member countries. This allocation aims to boost foreign exchange reserves and help countries deal with the impact of the COVID-19 crisis. The Kingdom of Saudi Arabia obtained the highest share among the countries of the Gulf Cooperation Council, with a value of about $13.7 billion.

 

Saudi Arabia

 

reserves atbeginningyear 2020: $ 500 billion

level in June: $ 446 billion

change sincebeginningyear 2020:decline10.7%

showed monthly bulletins that foreign reservesSaudi central bank fellabout $ 54 billion, declined from about $ 500 billion in The beginning of the year 2020 to 446 billion dollars at the end of June.

 

A large part of the change in reserves was related to the Saudi Central Bank transferring $40 billion of its reserves in March and April of the year 2020 to the Public Investment Fund, the Saudi sovereign wealth fund, to support the fund's investment plans.

Foreign reserves also declined due to the lag between import payments and export earnings as the COVID-19 pandemic weighed on oil prices. The central bank resorted to its foreign reserves to finance imports.

 

Despite this decline, the Kingdom's official reserves remain the largest in the MENA region by a large margin.

 

The International Monetary Fund estimated in its report issued in April that the official reserves of Saudi Arabia will reach 450 billion dollars by the end of this year.

 

Qatar

 

reserves at the beginning of the year 2020: $ 54.5 billion

in June 2021: $ 56.4 billion

change since the beginning of the year 2020: rising by 3.5%

despite the impact of Qatar double knockout for an outbreak of pandemic Kovid -19 and lower oil prices, recorded reserves of this state of foreign currency Continued growth in 2020 for the third consecutive year, mainly due to the launch of sovereign bond issues and the rise in gold reserves last year.

 

The financial data of the Qatar Central Bank showed an increase in the foreign reserves of the Kingdom of the Gulf by 3.5% since the beginning of the year 2020, as they jumped from 54.5 dollars in January of last year to 56.4 dollars at the end of June 2021.

The main reason behind this rise is the rise in the value of gold holdings in Qatar, It increased by 65% from $.22 billion at the beginning of the year 2020 to about $3.6 billion at the end of the first half of 2021.

However, the bank's deposits with foreign banks decreased by 22% during the same period from $15.6 billion to $12.1 billion.

 

Qatar, the world's largest exporter of liquefied natural gas, also managed to attract new money last year after issuing a $10 billion Eurobond — foreign currency loans — in April 2020. The issuance attracted about $45 billion in orders, according to Bloomberg. .

 

UAE

 

Reserves at the beginning of the year 2020: $109.5 billion

Reserves in June: $114 billion

Change since the beginning of the year 2020: up 4% The

Central Bank of the United Arab Emirates (CBUAE) stated in its monthly bulletins that the bank witnessed a decline in its international reserves during the first half of the year The year 2020. The bank’s reserves declined by 10% during the first six months of the year 2020, to reach $98.3 billion in June 2020, compared to $109.5 billion in June 2020 at the beginning of the year. This decline is mainly due to the decrease in the balances of current accounts and deposits with foreign banks.

 

In 2020, the country's hydrocarbon exports declined by 36%, from $60.1 billion to $38.4 billion, according to the annual report of the UAE Central Bank for the year 2020, while travel services revenues decreased by 36% from $38.4 billion to $24.6 billion. during the same period.

 

However, the country has seen a strong recovery as global economic growth begins to recover from the COVID-19 pandemic. The UAE, the pioneer in containing the spread of the pandemic, has benefited from the recovery in the level of oil production and prices, as well as the increase in global travel since the beginning of 2021.

 

This increase was manifested in the increase in the country’s foreign exchange reserves by $ 15.6 billion since the beginning of the second half of the year 2020, What exceeded the level of reserves before the pandemic. The central bank maintains its reserves of $114 billion as of June 30.

 

Oman

 

Reserves at the beginning of the year 2020: $ 16.7 billion , the

level of reserves in June: $ 17.5 billion

 

change since the beginning of the year 2020: a rise of 5% of

Oman has the least share of the wealth of the Gulf Arab states rich in hydrocarbons and is among the most sensitive countries to fluctuations in oil prices compared with its neighbors It witnessed a 10% decline in its foreign currency reserves last year, before recovering from it in 2021. Oman's foreign exchange reserves decreased from $16.7 billion last year. The Central Bank of Oman reported that Oman's foreign reserves decreased from $16.7 billion at the beginning of the year 2020 to $15 billion at the end of the same year.

 

However, the bank's foreign reserves increased by 16.7% in 2021, recording a remarkable jump from $15 billion at the beginning of the year to $17.5 billion at the end of June, after obtaining financing from participants in the international debt market. Oman sold $3.25 billion in bonds in January, which are rated under investment grade by credit rating agencies.

 

Reuters reported that the Sultanate entered the international debt markets again in June, selling 1.75 billion dollars in Islamic bonds for a period of nine years, after attracting orders of more than 11.5 billion dollars.

 

Bahrain

 

Reserves at the beginning of the year 2020: $3.4 billion The

level of reserves in June: $3.82 billion

Change since the beginning of the year 2020: 12.8% increase

During the first four months of 2020, Bahrain's foreign exchange reserves more than halved, reaching their lowest level since 1990. Bahrain's official reserves also decreased from $3.4 billion at the beginning of 2020 to $780 million in April 2020, according to Central bank financial statements. Reserves began to rebalance in May 2020, as the country raised about $2 billion in debt.

 

The reason for the sharp decline was the drop in oil prices, as well as the payment of 1.25 billion dollars in Eurobonds of the government on March 31. The country's foreign reserves rebounded in May last year, recording about $2 billion on the central bank's books at the end of 2020.

 

In addition, Bahrain's foreign exchange reserves nearly doubled during the first half of 2021, jumping from $1.95 billion to $3.8 billion at the end of June. This increase came after Bahrain turned to the international debt markets again in January 2021, raising $2 billion by selling bonds.

 

The UAE received $3.2 billion, Kuwait $2.6 billion, and Qatar $1 billion in SDRs, respectively. Meanwhile, the International Monetary Fund granted Oman $740 million and allocated $540 million to Bahrain.

[yota691]

The International Monetary Fund warns of a new global financial crisis

•  Time: 10/13/2021 10:48:37
•  
•  Reading: 1,274 times

  

{Economic: Al Furat News} The International Monetary Fund warned that "the emergency support provided by central banks and ministries of finance" during the Corona pandemic, has left the world vulnerable to another financial crisis.

In its semi-annual Global Financial Stability Report (GFSR), the International Monetary Fund said that policy makers have faced difficulties in balancing between continuing to support economic activity and preventing risks to financial stability in the medium term.

With "exaggerated" stock prices and rapidly rising house prices in many countries, the fund indicated that investors are becoming increasingly concerned about the economic outlook, amid rising numbers of HIV infections, and increasing "uncertainty" about the strength of the recovery, especially in countries and emerging markets.

The report, published by the British Guardian newspaper, warned of an increase in financial risk and weakness in the non-bank financial institutions sector, which could indicate a deterioration in the "fundamentals of financial stability".

The Fund clarified that if these risks are not addressed, they may develop into major problems, jeopardizing medium-term growth and threatening the global financial system.

The  International Monetary Fund confirms  that "the recovery of the global economy is still continuing, but with a weaker momentum, with the level of uncertainty rising. It seems that the cracks caused by the Corona virus will continue for a longer period."

The global economy is expected to achieve a growth of 5.9 percent in 2021 and 4.9 percent in 2022, and uncertainty about overcoming the pandemic has increased, as a result of the spread of the delta mutation, and the risks of the emergence of new ones, according to the fund.

[yota691]

IMF Managing Director Press Briefing on the Global Policy Agenda
52 watching now Started streaming 27 minutes ago

[nannab]

Thank you Yota and good morning DV 

[yota691]

IMF: The Middle East is on the path to economic recovery...but these groups are under threat

10/19-2021 | 14:02 Source : AFP

 

monetary fund

 

 

The International Monetary Fund confirmed on Tuesday that the Middle East and North Africa region is generally on the path to economic recovery, but it warned of the effects of rising social unrest and unemployment in lower-income countries.

 

The region, which includes the Arab countries and Iran, saw real GDP growth shrink by 3.1 percent in 2020 due to lower oil prices and sweeping closures to prevent the spread of the Corona virus.

 

However, in light of rapid vaccination campaigns, especially in the Gulf countries, the Fund expects GDP growth to rise to 4.1 percent this year, an increase from the 4 percent level that it had previously expected.

 

"The region is witnessing a recovery in 2021. Since the beginning of the year, we have seen progress in economic performance," Jihad Azour, director of the Middle East and Central Asia Department at the International Monetary Fund, told AFP.

 

Azour added, "This recovery is not the same in all countries. It is uncertain and uneven due to the difference in vaccination (...) and geopolitical developments."

 

In its latest regional economic outlook report released this month, the IMF said that while the outlook for oil-exporting economies has improved with the recent rise in crude prices, low-income and conflict-affected countries are recovering fragile.

 

And he warned of the "escalating social unrest" in 2021, which "could rise further due to the repeated waves of spread (of the Corona virus), deteriorating economic conditions, high unemployment and food prices."

 

It is noteworthy that several countries in the region have recently witnessed demonstrations and movements against the authorities in protest against the high prices and the lack of services.

 

The unemployment rate in the Middle East and North Africa increased last year by 1.4 percentage points to reach 11.6 percent. The IMF said that "this rise exceeds that which occurred during the global financial crisis with the collapse of oil prices between 2014 and 2015."

 

The Fund also warned of the long-term risks of an "unequal" recovery among the countries of the region, which could lead to "widening wealth and income gaps (...), weaker growth and more isolationist societies."

 

The Fund estimates that about 7 million people fell into extreme poverty during 2020 and 2021.

 

And in Lebanon, the ongoing collapse in the value of the currency has dashed hopes that the government formed last month could end an economic crisis described by the World Bank as one of the worst since the mid-19th century.

 

Nearly 80 percent of the population of the country with a fragile political structure lives below the poverty line.

 

Azour said that the fund "has already started technical discussions with the (Lebanese) authorities to develop what could in fact be the framework through which the fund can help Lebanon."

[yota691]

The International Monetary Fund expects inflation in the Middle East to rise to 12.9% by the end of 2021

Economie| 09:55 - 10/20/2021

 

 

 

 

Follow-up - Mawazine News
The International Monetary Fund revealed its expectations that inflation in the Middle East and North Africa will rise to 12.9% in 2021 and reach 8.8% in 2022.
The latest regional economic outlook report for the Middle East and Central Asia issued by the Autumn Meetings, today, pointed out today. On Wednesday, it announced “raising the economic growth forecast in the Middle East and North Africa by 0.1% to 4.1% in 2021, and by 0.4% to 4.1% in 2022.”
The report stated that "the total debt of the oil-importing countries in the Middle East and North Africa will exceed 100% of the total GDP in 2021, and that the need for financing in the oil-importing countries in the Middle East and North Africa will increase by 50% compared to the rates of 2018-2019."
With regard to the “Covid-19” pandemic, the Fund stated that “the course of the economy in 2021 still depends on the course of the Corona epidemic and the decisions of the Organization of Petroleum Exporting Countries “OPEC +”, and that the distribution of vaccines and developments in the oil market and tourism are among the most important factors that will support recovery".
The Fund expected that the oil activities of the exporting countries in the Middle East and Central Asia would rise to 5.3% in 2021, and to 4.4% in 2022. Ended 29/A4

[yota691]

The International Monetary Fund warns that “economic turmoil” awaits emerging economies

The global recovery at the moment will continue this year and next

1 hour ago

The International Monetary Fund warned on Monday that emerging economies should prepare for "periods of economic turmoil" as the US central bank raises key interest rates and global growth slows due to the omicron.

The International Monetary Fund, which is scheduled to publish its latest revised forecast on January 25, considered that the global recovery at the present time will continue this year and next.

"Risks to growth remain high due to the strong resurgence of the epidemic," IMF economists Stephen Danninger, Kenneth Kang and Helen Poirson said in a blog published Monday.

Since mid-December, the omicron has been spreading rapidly around the world, with a record number of infections recorded during this fourth wave of the epidemic.

While the omicron is less lethal than COVID-19 and its predecessors, it has necessitated restrictions that undermine growth.

“Given the risks of this coinciding with the Fed’s tightening of interest rates faster,” IMF officials wrote, “emerging economies should prepare for periods of economic turmoil,” especially as these countries are already facing “high inflation” along with “significantly higher public debt.” “.

The US Federal Reserve indicated its desire to raise key interest rates faster and more aggressively than expected to contain the accelerating inflation in the United States that is weighing on families and affecting consumption, the engine of American growth.

Higher policy rates mean an increase in the costs of refinancing the dollar debts of a number of emerging countries. However, these countries are also lagging behind in the economic recovery and therefore less able to bear these additional costs.

"While dollar borrowing costs remain low for many, concerns about domestic inflation (...) prompted several emerging markets, including Brazil, Russia and South Africa, last year to raise interest rates," the IMF said.

The blog's authors noted that accelerated increases in the Federal Reserve's interest rates could "disturb financial markets and tighten financial conditions globally."

The risks are a slowdown in US demand and trade as well as capital leakage and currency depreciation in emerging markets.

The International Monetary Fund urged emerging markets to take action “from now on (…) to reduce vulnerabilities.”

The Washington-based authority recommended the adoption of a "clear and coherent communication" of monetary policy plans in order to "improve the awareness of the need to seek price stability."

[yota691]

The IMF Sets 3 Priorities To Confront Global Losses Of $ 14 Trillion

 

LAST UPDATE 02/17/2022 | 5:12 PM

Information / follow up..

The International Monetary Fund called on monetary policy makers around the world to focus on three main priorities to achieve economic recovery in 2022, estimating the losses of the global economy from the Corona pandemic at about 13.8 trillion dollars in 5 years.

These priorities include making broader efforts to combat the economic repercussions caused by the Corona pandemic, setting criteria for tightening monetary policy in proportion to the conditions of each country, and shifting the focus to financial sustainability, according to IMF Managing Director Kristalina Georgieva.

Georgieva added, on the International Monetary Fund's blog, that the global economy continues to grow, but its pace is moderate due to the current uncertainty and high risks since the IMF issued its forecasts in the World Economic Outlook last January.

She explained that economic indicators still point to weaker growth momentum points due to the omicron variable and the ongoing disruptions in production chains.

And she continued: “Inflation rates came higher than expectations in many countries, financial markets are still volatile, and geopolitical strikes are increasing sharply. That is why we want strong international cooperation and unprecedented speed.”

Last January, the International Monetary Fund cut its forecast for global economic growth by half a percentage point to 4.4% compared to its expectations last October, and also lower than its forecast issued last year, with a growth of 5.9%.

Georgieva said global GDP losses due to the pandemic are estimated at $13.8 trillion through 2024.

And she called for shifting the focus on providing vaccines individually to making sure that each country gets what it needs from the vaccines, tests and treatments related to the Corona virus.

He appealed to the Fund to provide pre-financing of $23.4 billion, which represents the funding gap for the initiative to accelerate the availability of tools to combat COVID-19 of the World Health Organization.

Georgieva said that the International Monetary Fund estimates that about 60% of low-income countries face high risks due to debt, and these risks are more than twice the rates of 2015. She mentioned that these countries and other countries need to mobilize their domestic resources and provide them with more grants and concessional financing, And more agreements on its debts urgently. finished/25h

[MyLadiesDaddy]

52 minutes ago, yota691 said:

The International Monetary Fund called on monetary policy makers around the world to focus on three main priorities to achieve economic recovery in 2022, estimating the losses of the global economy from the Corona pandemic at about 13.8 trillion dollars in 5 years.

I can almost guarantee you that when the bubble pops {{and that will be very soon}} that the worldwide losses will be more than 150 trillion. 

[Theseus]

On 4/6/2021 at 10:39 PM, yota691 said:

World Economic Outlook
22 views•Apr 6, 2021

 

 

[Theseus]

On 2/17/2022 at 11:37 AM, ladyGrace'sDaddy said:

I can almost guarantee you that when the bubble pops {{and that will be very soon}} that the worldwide losses will be more than 150 trillion. 

And to think the World's total worth is only over 500 trillion.

[MyLadiesDaddy]

1 hour ago, Theseus said:

And to think the World's total worth is only over 500 trillion.

Somewhere in the neighborhood of that to 600 trillion. 

But the entire Derivatives market will suffer the greatest losses. The level of unbacked leverage is mind boggling. In my opinion this event will forever change the way people invest. 

[Theseus]

On 2/20/2022 at 5:04 PM, ladyGrace'sDaddy said:

Somewhere in the neighborhood of that to 600 trillion. 

Well that would be over 500 trillion. Last estimate was closer to 550 trillion.

[yota691]

The International Monetary Fund warns of (people taking to the streets) due to the economic crisis: a message to rich countries

 2022/03/27

 

 14

 

 

The International Monetary Fund warns of (people taking to the streets) due to the economic crisis: a message to rich countries