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☆ Senegal votes for lawmakers in test for new president
▼ + stars: | 2024-11-17 | by ( ) www.cnbc.com time to read: +2 min

A voter casts his ballot at a voting station in the fishing village of Ndayane on Nov. 17, 2024, during Senegal's parliamentary elections. Senegal headed to the polls on Sunday to vote in legislative elections that the president hopes will give his party a clear majority and the means to implement an ambitious agenda for reforms. The West African nation saw some of the worst political violence in recent history ahead of the presidential election in March. The new president, Bassirou Diomaye Faye, has promised to help, but his government is grappling with slower-than-projected growth and a worsening budget deficit. The main threat to his party Pastef's ambitions is the unexpected alliance of two opposition parties, including the Republic party (APR) headed by the former Prime Minister Macky Sall.

Persons: Bassirou Diomaye Faye, Macky Sall, Dakar's, Barthelemy Dias Organizations: Republic, Pastef Locations: Ndayane, Senegal

☆ India’s central bank chief warns growing risk of global inflation returning
▼ + stars: | 2024-11-14 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

Shaktikanta Das, governor of the Reserve Bank of India (RBI), during an event at the Peterson Institute of Economics (PIIE) during the annual meetings of the International Monetary Fund (IMF) and World Bank in Washington, DC, US, on Friday, Oct. 25, 2024. Central banks have managed to engineer a soft landing through a period of "continual and unprecedented shocks," but there is still a risk of global inflation returning and of economic growth slowing down, according to India's central bank chief. Speaking Thursday in Mumbai, India, at CNBC-TV18's Global Leadership Summit, Reserve Bank of India (RBI) Governor Shaktikanta Das said monetary policy from global central banks had largely "performed well" in recent years despite conflicts, geopolitical tensions and higher volatility. "A soft landing has been ensured but risks of inflation — as I speak to you here today — risks of inflation coming back and growth slowing down do remain," Das said. Das pointed to several contradictions in global markets to underline his view, including the appreciation of the U.S. dollar, even as the Federal Reserve is cutting interest rates.

Persons: Shaktikanta Das, Das Organizations: Reserve Bank of India, Peterson Institute of Economics, International Monetary Fund, Bank, CNBC, Leadership, U.S ., Federal Reserve, U.S Locations: Washington , DC, Central, Mumbai, India, London

☆ IMF says Asia-Pacific's economic situation is 'better than expected'
▼ + stars: | 2024-11-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIMF says Asia-Pacific's economic situation is 'better than expected'Thomas Helbling, Asia-Pacific deputy director at the International Monetary Fund, compares the region's economic outlook with the rest of the world's.

Persons: Thomas Helbling Organizations: IMF, International Monetary Fund Locations: Asia, Pacific

☆ ASEAN continues to emerge as a winner of U.S.-China trade tensions, IMF says
▼ + stars: | 2024-11-01 | by ( Dylan Butts | ) www.cnbc.com time to read: +3 min

The Association of Southeast Asian Nations (ASEAN) has continued to emerge as an economic winner of increasing geopolitical tensions between China and the United States, though risks from fragmentation remain, the International Monetary Fund (IMF) says. Though U.S.-China tensions have been deteriorating in recent years, ASEAN has adapted and continued to integrate with the global economy, the IMF said in its latest Asia-Pacific Outlook report, released Friday. "Despite geopolitical tensions, ASEAN has continued to strengthen trade and investment links with both China and the U.S.," the report said. "[T]he region has even been able to take advantage of trade diversion opportunities caused by US-China trade tensions," the report added. Overall, the IMF says these trends have contributed to the ASEAN region increasing its share of inward foreign direct investment, world exports and global value added.

Persons: Donald Trump, Biden Organizations: The Association of Southeast Asian Nations, International Monetary Fund, U.S, ASEAN, IMF, Former U.S, China - Locations: Jakarta, Indonesia, China, United States, Asia, U.S, Beijing, China - U.S, Vietnam, Thailand, Philippines, Singapore, Pacific

☆ Sovereign debt is the biggest risk to global growth in 2025, Saudi finance minister says
▼ + stars: | 2024-10-31 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

RIYADH — National debt is a major threat to markets in the near future, Saudi Arabia's finance minister said, expressing particular concern over lower income countries as well as what he described as rapidly growing global fragmentation. "I think globally, the serious, serious issue that we need to watch is sovereign debt issues, particularly in low income countries and emerging economies that do not have the fiscal buffers to lean into in case of disruptions in the market," Mohammed Al-Jadaan told CNBC's Dan Murphy Wednesday from the Future Investment Initiative in Riyadh. "And hopefully between the IMF and the G20 we will find a solution, and we will be ready to support the world economy in case of shocks in that area, but it is an area that we need to watch, as global leaders, to make sure that it doesn't surprise us." Global public debt hit a record $97 trillion in 2023, prompting the United Nations to call for urgent reforms for governments and financial systems around the world.

Persons: Mohammed Al, Jadaan, CNBC's Dan Murphy Organizations: Saudi, Future Investment, IMF, Global, United Nations Locations: RIYADH, Riyadh

☆ IMF's Jihad Azour discusses reasons behind the decline in growth in the MENA region
▼ + stars: | 2024-10-31 | by ( Dan Murphy | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIMF's Jihad Azour discusses reasons behind the decline in growth in the MENA regionJihad Azour, the IMF's director of Middle East and Central Asia, says prolonged regional conflict and the extension of OPEC+ cuts led to the downgrade in growth in the Middle East.

Persons: Azour Organizations: Middle Locations: MENA, Jihad, Middle East, Central Asia

☆ Europe prepares for 'America First' push no matter who wins the U.S. election
▼ + stars: | 2024-10-30 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

Former President Donald Trump and Vice President Kamala Harris are shown on screen during a debate watch party at the Cameo Art House Theatre in Fayetteville, North Carolina, on Sept. 10, 2024. European politicians and policymakers are busy preparing for more American protectionism regardless of who emerges as the next leader of the White House after elections next week. The presidential race has remained a dead heat going into its final few days, with polling consistently rating the candidates, Vice President Kamala Harris and former President Donald Trump, as being tied within key battleground states and across the country. "Whoever wins will be 'America first'," a senior European diplomat, who did not want to be named due to the sensitive nature of the transatlantic relationship, told CNBC last week. The comments come after a warning from German Finance Minister Christian Lindner, who on Friday told CNBC there could be retaliation if the U.S. kicked off a trade war with the European Union.

Persons: Donald Trump, Kamala Harris, Christian Lindner, it's Organizations: Art House Theatre, White, CNBC, German Finance, Friday, European Union, European, EU, U.S, European Commission Locations: Fayetteville , North Carolina, European, U.S, Washington ,, United States

☆ Japan's central bank to remain undeterred on rate hikes despite LDP's electoral shock, analysts say
▼ + stars: | 2024-10-28 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

Japan's longtime ruling Liberal Democratic Party may have suffered an election shock, but analysts said that's unlikely to deter the Bank of Japan from its interest rate hike cycle. In Sunday's elections, the LDP lost its majority in Japan's lower house for the first time since 2009. Besides its junior coalition partner Komeito, the LDP will need to work with other parties to form a government. The political turmoil comes ahead of a Bank of Japan meeting this week. Roughly 86% of economists polled by Reuters expect the central bank to leave its rates unchanged when it announces its decision Thursday.

Persons: Kazuo Ueda, Japan's, Komeito, David Boling, CNBC's, they're, Izumi Devalier, Devalier, you've Organizations: Japan, International Monetary Fund, World Bank, Liberal Democratic Party, Bank of Japan, LDP, Eurasia Group, Reuters, Bank of America Locations: Washington , U.S, Japan

☆ Foreign investors flock to flagship Saudi economic conference — but face less free-flowing cash
▼ + stars: | 2024-10-28 | by ( Natasha Turak | ) www.cnbc.com time to read: +6 min

A delegate arrives at the King Abdulaziz Conference Centre in Saudi Arabia's capital Riyadh to attend the Future Investment Initiative (FII) forum. The kingdom's $925 billion sovereign wealth fund, the Public Investment Fund, saw its assets jump 29% to 2.87 trillion Saudi riyals ($765.2 billion) in 2023 — and local investment was a major driver. "Value meaning hiring, developing the asset management ecosystem, creating new products, bringing in talent, and investing in Saudi capital markets also. Oil prices and the Saudi economy appear to so far have stayed largely unscathed, dropping 4% early Monday after Israel's weekend strike on Iran. A key reason for that may be the rapprochement deal the kingdom signed with Iran, brokered by China, in March 2023.watch now

Persons: Nureldine, it's, Omar Yacoub, Yacoub, Fadi Arbid, Brent, Arbid, Yemen's, Israel Organizations: King Abdulaziz Conference Centre, Future Investment Initiative, Afp, Getty, Investment Initiative, CNBC, U.S, ABS Global, Public Investment Fund, Saudi, Saudi Arabia's, Amwal Capital Partners, OPEC, Eastern, Ritz, Carlton, Israel Locations: Saudi Arabia's, Riyadh, Saudi, Saudi Arabia, —, Dubai, Carlton Riyadh, Gaza, Israel, Lebanon, Iran, Tel Aviv, China

☆ U.S. Treasury yields continue their ascent after hitting a 3-month high last week
▼ + stars: | 2024-10-28 | by ( Karen Gilchrist | ) www.cnbc.com time to read: 1 min

The 10-year Treasury yield rose more than five basis points to 4.284%, while the 2-year Treasury added three basis points to 4.126%. The yield on the 10-year U.S. Treasury continued its ascent on Monday, after hitting a three-month high last week. The yield on the 10-year Treasury hit a three-month high on Wednesday, topping 4.25%, before dipping slightly to close out the week. Monday is light on the data front, but traders are looking ahead this week to fresh jobs figures and consumer confidence data in the lead up to the U.S. presidential election on Nov. 5. Investors will also continue to digest a slew of central bank commentary following last week's IMF meetings in Washington, D.C., with Federal Reserve policymakers now in a blackout period which prevents commentary ahead of next week's interest rate decision.

Organizations: Treasury, U.S, Washington , D.C, Federal Reserve Locations: Washington ,

“Taiwan's membership at the IMF would help boost financial resilience,” the Taipei Economic and Cultural Representative Office in Washington said during this week's IMF and World Bank annual meetings. Taiwan also is seeking to participate in the U.N. World Health Organization's annual World Health Assembly and join Interpol. But China, which sees Taiwan as a breakaway province and threatens to annex it by force, has blocked such efforts and insists it represent Taiwan in international forums. The island is now designated as “Taiwan Province of China” in IMF literature. The U.S. House has approved a bill that would direct the United States to advocate for Taiwan’s IMF membership.

Persons: “, Donald Trump, Bo Li, Patrick McHenry, ” McHenry, Young Kim, Fatima Hussein Organizations: WASHINGTON, —, International Monetary Fund, IMF, Cultural, World Bank, U.S, Health Assembly, Interpol, U.S . State Department, People’s Bank of China, Taiwan Academy of Banking, Finance, U.S . House, Democrats, North Carolina Republican, Financial Services, United Nations, Associated Press Locations: — Taiwan, Poland, Taipei, Washington, Taiwan, U.S, China, Taiwan Province, United States, Japan, Taiwan Strait, Beijing, Kosovo, Europe

☆ IMF's Asia director compares Japan & China's fiscal challenges
▼ + stars: | 2024-10-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIMF's Asia director compares Japan & China's fiscal challengesKrishna Srinivasan, Director of IMF of Asia and Pacific Department, talks to CNBC's Martin Soong about Japan and China's fiscal positions, as the Bank of Japan normalizes its monetary policy and China embarks on measures to prop up the country's economy.

Persons: Krishna Srinivasan, CNBC's Martin Soong Organizations: IMF's, Japan, Pacific Department, Bank of Japan Locations: IMF's Asia, Asia, Japan, China

☆ German finance minister warns of retaliation if U.S. kicks off trade war
▼ + stars: | 2024-10-25 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

German Finance Minister Christian Lindner on Friday warned that if the U.S. kicked off a trade war with the European Union, there could be retaliation. Trade is one of the main pillars of the German economy, suggesting heightened tensions, uncertainty and tariffs would hit the country harder than others. Trade tensions between the U.S. and China, and the EU and China, have been rising throughout the year. Both the U.S. and EU have implemented higher tariffs and on some goods imported from China, citing unfair trade practices. China in turn has also announced higher temporary tariffs on some imports from the EU.

Persons: Christian Lindner, Janet Yellen, Lindner, CNBC's Karen Tso, Donald Trump, it's, Chancellor Olaf Scholz's, Trump Organizations: IMF, World Bank, German, European Union, International Monetary, Washington , D.C, Free Democratic Party, Chancellor Olaf Scholz's Social Democratic Party, U.S, EU, Reuters Locations: Washington , DC, U.S, Washington ,, China, EU, Germany

☆ Malaysia must avoid 'boom-bust' cycles to finally claim Asian Tiger status, central bank governor says
▼ + stars: | 2024-10-25 | by ( Shafi Musaddique | ) www.cnbc.com time to read: +4 min

Abdul Rasheed Ghaffour, governor of Bank Negara Malaysia, during a news conference at Sasana Kijang Center, which houses Bank Negara Malaysia facilities, in Kuala Lumpur. Malaysia is working toward having the "the right ingredients" to finally claim "Asian Tiger" status, but must avoid the traps of widening inequality seen elsewhere. That's according to Abdul Rasheed Ghaffour, the governor of the central bank of Malaysia, who believes the southeast Asian country must avoid a "boom-bust cycle that has happened before." But it may be a case of better late than never, thanks to better-than-expected economic growth this year. Ghaffour said Malaysia is moving into producing logic chips — more advanced chips often know as the brains of electronic devices.

Persons: Abdul Rasheed Ghaffour, Ghaffour, Karen Tso, Donald Trump, Kamala Harris Organizations: Bank Negara Malaysia, Bank Negara, Washington , D.C, CNBC, Asian Tigers, Oxfam, Taiwan's, Budget, Accounting, Statistics, Tech, Intel, Economic, ASEAN, Republican, Democratic Locations: Bank, Bank Negara Malaysia, Kuala Lumpur, Malaysia, Hong Kong, Singapore, Taiwan, South Korea, Washington ,, Hong Kong's, Penang, European, U.S, Malaysian, Thailand, Indonesia .

☆ Iceland embraced a shorter work week. Here’s how it turned out
▼ + stars: | 2024-10-25 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +3 min

London CNN —Iceland’s economy is outperforming most European peers after the nationwide introduction of a shorter working week with no loss in pay, according to research released Friday. In two large trials between 2015 and 2019, public sector employees in Iceland worked 35-36 hours per week, with no reduction in pay. The trials involved 2,500 people — more than 1% of Iceland’s working population at the time — and were aimed at maintaining or increasing productivity while improving work-life balance. Following the trials, Icelandic trade unions negotiated reductions in working hours for tens of thousands of their members across the country. That is much higher than the country’s average growth rate of almost 2% in the decade between 2006 and 2015.

Persons: Alda Organizations: London CNN, Autonomy Institute, Iceland’s Association for Sustainability, Democracy, Iceland …, International Monetary Locations: Iceland, Europe, United Kingdom, Malta, United States, Ireland

☆ Let's wait for more inflation readings to see 'what's really going on': ECB's Vujčić
▼ + stars: | 2024-10-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLet's wait for more inflation readings to see 'what's really going on': ECB's VujčićBoris Vujčić, governor of the Croatian National Bank and ECB Governing Council member, discusses the eurozone economy at the IMF meetings in Washington with CNBC.

Persons: ECB's, Boris Vujčić Organizations: Croatian National Bank, ECB, CNBC Locations: Washington

☆ Why a second Trump presidency would hurt the global economy
▼ + stars: | 2024-10-24 | by ( Hanna Ziady | ) edition.cnn.com time to read: +9 min

For Chinese imports, Trump has proposed an even steeper 60% tariff. Many economists have warned that tariffs planned by Trump will hurt global economic growth and drive up inflation in the US, as well as abroad if other countries introduce higher levies on US imports in response. The International Monetary Fund (IMF) also sees a hit to global gross domestic product from increased tariffs around the world, according to its latest World Economic Outlook. Mario Tama/Getty ImagesA rise in protectionism around the world means open trade is already under threat and the ability of its champion, the World Trade Organization, to settle international trade disputes is severely constrained. “What we’d see in Trump 2 is far more radical than what we saw in Trump 1.”

Persons: Smoot, Donald Trump, Federal Reserve — Trump, Trump, ”, Evan Vucci, he’s, Maurice Obstfeld, Kristalina Georgieva, “, Mario Tama, ” Obstfeld, ” Petros Mavroidis, Scott Olson, Joe Biden, André Sapir, Bruegel, Jerome Powell, Powell, ” Trump, ” Edward Alden, ” Alden Organizations: London CNN, Federal Reserve, Bloomberg, Economic, of Chicago, Trump, Peterson Institute for International Economics, Republican, UBS, Monetary Fund, ABN AMRO, Peterson Institute, IMF, White, Port, World Trade Organization, CNN, Columbia Law School, US, European Union, EU, greenback, Foreign Relations, “ Locations: United States, Hawley, Washington, DC, China, Ukraine, Chicago, Japan, France, South Korea, Port of Los Angeles, Indiana, Portage , Indiana, Brussels, Trump

☆ IMF's Kammer: We see more caution for European investment next year
▼ + stars: | 2024-10-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIMF's Kammer: We see more caution for European investment next yearAlfred Kammer, director of the European Department at IMF, speaks to CNBC's Karen Tso.

Persons: Alfred Kammer, Karen Tso Organizations: European Department, IMF

☆ Greek finance minister: Our budget surplus is our message to markets
▼ + stars: | 2024-10-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGreek finance minister: Our budget surplus is our message to marketsKostis Hatzidakis, the finance minister of Greece, speaks to CNBC's Karen Tso at the IMF annual meetings in Washington, D.C.

Persons: Karen Tso Locations: Greece, Washington ,

☆ 'I'm not excluding anything' — but it's better to be gradual, says ECB's Wunsch on rate cuts
▼ + stars: | 2024-10-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'I'm not excluding anything' — but it's better to be gradual, says ECB's Wunsch on rate cutsSpeaking to CNBC's Karen Tso at the IMF annual meetings, Pierre Wunsch, head of the National Bank of Belgium and ECB Governing Council member, discussed the euro zone's monetary policy. He stressed that the central bank is data dependent and said he doesn't currently see the "need for a 50-basis point cut, but let's look at the data."

Persons: ECB's, Karen Tso, Pierre Wunsch, doesn't Organizations: National Bank of Belgium

☆ 'Everything should be on the table,' says ECB's Kazāks on possibility of a jumbo rate cut
▼ + stars: | 2024-10-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Everything should be on the table,' says ECB's Kazāks on possibility of a jumbo rate cutMārtiņš Kazāks, the governor of the Bank of Latvia and European Central Bank Governing Council member, discusses monetary policy with CNBC's Karen Tso at the IMF meetings in DC.

Persons: ECB's, Karen Tso Organizations: Bank of, European Central Bank Governing Locations: Bank of Latvia

Mārtiņš Kazāks, governor of the Bank of Latvia and a member of the European Central Bank's Governing Council, on Thursday weighed in on the possibility of a jumbo half-point interest rate cut for December. When asked for his views on a 50-basis rate cut by the ECB at its next meeting, he said that "everything should be on the table." "But we will have that discussion in December," he told CNBC's Karen Tso at the IMF's annual meetings in Washington, D.C. Thursday. His comments come after the ECB delivered a back-to-back interest rate cut for the first time in 13 years at its October meeting. It also comes a day after Portuguese central bank chief Mario Centeno made similar comments.

Persons: Mārtiņš Kazāks, CNBC's Karen Tso, —, Mario Centeno, Centeno Organizations: Bank of, European Central Bank's Governing, ECB, CNBC Locations: Bank of Latvia, Washington ,, Portuguese

☆ The last mile of inflation is always more complicated: Standard Chartered's Viñals
▼ + stars: | 2024-10-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe last mile of inflation is always more complicated: Standard Chartered's ViñalsJose Viñals, group chairman at Standard Chartered, discusses the economic outlook and geopolitical risks with CNBC's Karen Tso at the IMF annual meetings in Washington, D.C.

Persons: Jose Viñals, Karen Tso Organizations: Standard Chartered Locations: Washington ,

☆ Australian treasurer: We see the China stimulus measures as very positive
▼ + stars: | 2024-10-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAustralian treasurer: We see the China stimulus measures as very positiveJim Chalmers, treasurer for Australia, speaks to CNBC's Karen Tso at the IMF annual meetings in Washington, D.C.

Persons: Jim Chalmers, Karen Tso Locations: China, Australia, Washington ,

☆ IMF warns on China's property market worsening as it cuts country's growth outlook
▼ + stars: | 2024-10-23 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

Qilai Shen | Bloomberg | Getty ImagesThe International Monetary Fund (IMF) warned of a possible worsening of the state of China's property market as it trimmed its growth expectations for the world's second-largest economy. In a report published Tuesday, the IMF trimmed its forecast for growth in China for this year to 4.8%, 0.2 percentage points lower than in its July projection. In 2025, growth is expected to come in at 4.5%, according to the IMF. The Washington, D.C.-based organization also highlighted that China's property sector contracting by more than expected is one of many downside risks for the global economic outlook. Subsidies in certain sectors, if targeted to boost exports, could exacerbate trade tensions with China's trading partners," the agency said.

Persons: Qilai Shen, Gourinchas Organizations: Bloomberg, Getty, Monetary Fund, IMF, The, D.C, U.S, Reuters Locations: Nanjing, Shanghai, China, The Washington, Japan

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