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☆ 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

☆ 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

☆ 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

☆ 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

☆ 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

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

☆ Global public debt will hit $100 trillion by year-end, says IMF
▼ + stars: | 2024-10-23 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

Global public debt will rise above $100 trillion by the end of 2024, the agency projected in its annual Fiscal Monitor report. By the end of the decade, the IMF forecasts global public debt will reach 100% of world GDP. The U.S. and China account for a significant share of rising public debt levels. If the two countries were excluded from calculations, the global public debt to GDP ratio would fall around 20%, the IMF said. Unsustainable debt levels place countries' markets at risk of a sudden sell-off if investors view a country's fiscal health as too poor.

Persons: Vitor Gaspar, shutdowns, spending's Organizations: International Monetary Fund, Monetary Fund, Global, U.S . Treasury Department Locations: Washington , DC, U.S, China, Saharan Africa

☆ 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

☆ IMF says global fight against inflation is 'almost won' but warns of rising risks
▼ + stars: | 2024-10-22 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +5 min

"The global battle against inflation is almost won," the IMF report trumpeted, even as it called for "a policy triple pivot" to address interest rates, government spending, and reforms and investment to boost productivity. The fund kept its global growth estimate at 3.2% for 2024 and 2025 — which it called "stable yet underwhelming." Market volatility among key downside risksHeightened financial volatility is another threat to global growth, the IMF report said. Further challenges to global financial markets could come in the final stretch of the fight against inflation. The IMF forecasts global growth will rise 3.1% annually at the end of the 2020s, the lowest level in decades.

Persons: Pierre, Olivier Gourinchas Organizations: International Monetary Fund, Global, Vigilance, IMF Locations: Washington , DC, United States, The Washington, Brazil, Mexico, America, Europe

☆ There is a backdrop of economic uncertainty given elections this year, says IMF's Adrian
▼ + stars: | 2024-10-22 | 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 EmailThere is a backdrop of economic uncertainty given elections this year, says IMF's AdrianTobias Adrian, director of the monetary and capital markets department at the IMF, discusses financial stability at the IMF meetings in Washington, D.C.

Persons: Adrian Tobias Adrian Organizations: IMF Locations: Washington ,

☆ IMF's Kristalina Georgieva: I pray my second term is more boring than my first
▼ + stars: | 2024-10-01 | 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 Kristalina Georgieva: I pray my second term is more boring than my firstKristalina Georgieva, IMF managing director, joins 'Money Movers' to discuss how Georgieva handles the 'new world' we are living in, what U.S. tariffs would mean for the global economy, and much more.

Persons: Georgieva

☆ Fearful of the 'middle-income trap,' Indonesia pushes for major policy reform
▼ + stars: | 2024-09-26 | by ( Shafi Musaddique | ) www.cnbc.com time to read: +4 min

Incoming President Subianto has promised to continue the charge toward making Indonesia a high-income economy. Economic reforms passed through by the outgoing president will make the achieving Indonesia's grand vision easier. "Widodo put in place a bunch of economic reforms, the most noticeable being making it easier to hire and fire new workers. Indrawati hopes to avoid "the middle-income trap" — an economic development situation where growing economies stagnate at middle-income levels and are unable to advance to the ranks of high-income countries. Major policy reforms, she believes, will help Indonesia sidestep that.

Persons: Sri Mulyani Indrawati, CNBC's, Joko Widodo, Prabowo Subianto, Subianto, Widodo, Gareth Leather, Indrawati Organizations: Afp, Getty, country's Finance, International Monetary Fund, Defense, Capital Economics, CNBC, Lowy Institute Locations: Jakarta, Indonesia, Washington, Australian, China, Asia

☆ Underlying concerns are still there around services inflation, says IMF's Pierre-Olivier Gourinchas
▼ + stars: | 2024-07-16 | 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 EmailUnderlying concerns are still there around services inflation, says IMF's Pierre-Olivier GourinchasPierre-Olivier Gourinchas, IMF chief economist, joins 'Squawk on the Street' to discuss his thoughts on disinflation, whether September's too soon to expect a rate cut, and more.

Persons: IMF's Pierre, Olivier Gourinchas Pierre, Olivier Gourinchas, September's

☆ IMF says emerging market capital inflows recover to 2018 levels
▼ + stars: | 2024-07-12 | by ( David Lawder | ) www.reuters.com time to read: +3 min

The IMF said in the report that emerging markets have seen a decline in the more volatile net portfolio inflows, but net inflows of foreign direct investment (FDI) has been more stable. At the same time, the report said that China saw net capital outflows over the 2022-2023 period, including net negative FDI inflows. Overall, global gross capital inflows declined to 4.4% of global GDP, or $4.2 trillion, in the 2022-2023 period, from 5.8 percent of global GDP, or $4.5 trillion, in 2017-2019. But the U.S. benefited strongly from the shifts, accounting for 41% of global gross inflows during the 2022-2023 period, nearly double its 23% share in 2017-2019. The U.S. share of global gross outflows also increased, to 21% from 14% during the same periods.

Persons: Christine Lagarde, Nicolas Dujovne, Yuri Gripas, David Lawder, Franklin Paul, Alistair Bell Organizations: Monetary Fund, Argentine, REUTERS, China, IMF, Thomson Locations: Washington , U.S, WASHINGTON, China, U.S

☆ IMF says Fed should hold interest rates where they are until 'at least' end of year
▼ + stars: | 2024-06-27 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

The Federal Reserve should wait to cut interest rates until "at least" the end of the year, according to the head of the International Monetary Fund. The U.S. is the only G20 economy to see growth above pre-pandemic levels, and "robust" growth indicates ongoing upside risks to inflation, the 190-country agency said. "We do recognize important upside risks," IMF Managing Director Kristalina Georgieva said at a press briefing on Thursday. "Given those risks, we agree that the Fed should keep policy rates at current levels until at least late 2024." The Fed's current fed funds rate has stood within the range of 5.25% to 5.50% since July 2023.

Persons: Kristalina Georgieva, Georgieva Organizations: International Monetary Fund, The, IMF Locations: The U.S, U.S

☆ There's a 'stealth erosion' in global US dollar reserves, but there's no dominant replacement yet
▼ + stars: | 2024-06-13 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Read previewThe US dollar is in a state of "stealth erosion," the International Monetary Fund, or IMF, wrote in a report on Tuesday. This effect masked the shift of central banks and governments out of dollar reserves. Instead, the shares of "non-traditional reserve currencies" have risen, according to the IMF. These include the Australian dollar, Canadian dollar, Chinese renminbi, South Korean won, Singaporean dollar, and Nordic currencies. AdvertisementThe dollar's decline in FX reserves doesn't appear to be about sanctionsThe IMF's report comes amid ongoing discussions about de-dollarization.

Persons: — Organizations: Service, International Monetary Fund, Business, US Federal Reserve, IMF, Canadian, South Korean, greenback Locations: Russia, Moscow, Ukraine

☆ IMF's China GDP growth forecast upgrade is 'very sensible,' economist says
▼ + stars: | 2024-05-30 | 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 China GDP growth forecast upgrade is 'very sensible,' economist saysSi Tao Xu, chief economist at Deloitte China, discusses the International Monetary Fund's decision to raise its forecast for China's growth this year to 5% from 4.6%.

Persons: Si Tao Xu Organizations: Deloitte China, Monetary Locations: China

☆ IMF upgrades China's growth forecast to 5% on 'strong' first quarter and policy measures
▼ + stars: | 2024-05-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — The International Monetary Fund on Wednesday raised its forecast for China's growth this year to 5%, from 4.6% previously, due to "strong" first quarter figures and recent policy measures. The organization now expects China's economy to grow by 4.5% in 2025, up from the previous forecast of 4.1%. But by 2029, they anticipate China's growth will decelerate to 3.3% due to an aging population and slower productivity growth. That's down from the IMF's prior forecast of 3.5% growth in the medium term. China's economy grew by a better-than-expected 5.3% in the first quarter, supported by strong exports.

Organizations: Monetary Fund, Data Locations: Beijing, BEIJING, China

☆ The IMF's chief is sounding the alarm, says the AI revolution is striking the job market 'like a tsunami'
▼ + stars: | 2024-05-15 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

IMF chief Kristalina Georgieva says AI will hit the job market "like a tsunami." "We have very little time to get people ready for it, businesses ready for it," she said on Monday. AdvertisementThe AI revolution could have a huge negative impact on the global job market, IMF Managing Director Kristalina Georgieva said on Monday. The IMF chief was delivering a speech at the Swiss Institute of International Studies in Zurich, where she talked about the impact AI could have on job seekers. AI, Georgieva said, is striking the job market "like a tsunami."

Persons: Kristalina Georgieva, Georgieva, — Organizations: Service, IMF, Swiss Institute of International Studies, Business Locations: Zurich

☆ The US dollar has become so weaponized that central banks are snapping up politically-neutral gold
▼ + stars: | 2024-05-14 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Central banks accounted for one-quarter of gold demand in 2022 and 2023, as the institutions bought over 1,000 tons of gold each year, according to the World Gold Council in a recent report. Related storiesThe world's central banks continued buying gold, snapping up 290 tons of gold in the first quarter of this year — the strongest start to any year on record, according to the council. AdvertisementThis suggests that gold purchases by some central banks may have been driven by concerns about sanctions risk, Gopinath said. Central banks will keep buying, despite high pricesWhile China's central bank gold buying has been hogging the headlines, other central banks are also loading up on gold. The World Gold Council wrote in its recent report that other big gold buyers included Turkey and India.

Persons: —, Gita Gopinath, it's, Gopinath, IMF's Gopinath Organizations: Service, Monetary Fund, Business, World Gold, US Treasury, Agency, JPMorgan Locations: Ukraine, Central, Russia, China, Turkey, India

☆ IMF's Kammer: Positive outlook on Europe, soft landing expected
▼ + stars: | 2024-05-10 | 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: Positive outlook on Europe, soft landing expectedAlfred Kammer, director of the European department at the IMF, speaks to CNBC's Karen Tso at the IMF's Spring Meetings.

Persons: Alfred Kammer, Karen Tso Organizations: IMF Locations: Europe

☆ IMF raises its Asia growth forecast for 2024, highlights India's growth and China stimulus as key drivers
▼ + stars: | 2024-04-30 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

The International Monetary Fund raised its Asia growth forecast for 2024 on Tuesday, as it remained optimistic about India's growth and focused on the need for more stimulus from China. The IMF now expects Asia's economy to grow 4.5% this year, up 0.3 percentage points from six months earlier. The upward revision reflects upgrades for China, the IMF said, where it expects policy stimulus to provide support. India is currently the world's fifth-largest economy with GDP of $3.7 trillion and is aiming to become the world's third-largest by 2027. IMF's Srinivasan also wrote that strong private consumption will continue to drive growth in Asia's other emerging markets.

Persons: Krishna Srinivasan, IMF's Srinivasan Organizations: Monetary Fund, IMF Locations: Asia, China, Pacific, India

☆ IMF's Azour: Middle East going through severe developments
▼ + stars: | 2024-04-19 | 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 Azour: Middle East going through severe developmentsJihad Azour, director of the Middle East and Central Asia Department at the IMF, speaks to CNBC's Karen Tso.

Persons: Karen Tso Organizations: Central Asia Department, IMF Locations: East

☆ IMF's Srinivasan: Inherent dynamism in APAC region
▼ + stars: | 2024-04-19 | 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 Srinivasan: Inherent dynamism in APAC regionKrishna Srinivasan, IMF's director of the Asia and Pacific department, speaks to CNBC's Karen Tso.

Persons: IMF's Srinivasan, Krishna Srinivasan, Karen Tso Locations: Asia, Pacific

☆ Fiscal policy must stay the course to manage rising debt, IMF's Gaspar says
▼ + stars: | 2024-04-17 | 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 EmailFiscal policy must stay the course to manage rising debt, IMF's Gaspar saysVitor Gaspar, director of the IMF's fiscal affairs department, discusses the importance of fiscal and monetary policy working in tandem to tackle inflation.

Persons: IMF's Gaspar, Vitor Gaspar

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