The threat of trade protectionism is the biggest concern looming over a solid upswing in the global economy, IMF Managing Director Christine Lagarde said. The “darkest cloud” on the economic horizon is the “determination of some to actually rock the system that has actually presided over the trade relationships that we have all undertaken and enjoyed to some extent over the last many decades,” said Lagarde. She was speaking on a panel with world leaders including Russian President Vladimir Putin, Japanese Prime Minister Shinzo Abe, French President Emmanuel Macron and China’s Vice President Wang Qishan in St. Petersburg, Russia, on Friday. ALSO READ: Services trade can unlock full potential of mini multinationals: Lagarde “The good news today is that the sun is shining on the global economy. We went through a decade of difficult time, and now, we have an economy that is doing well," Lagarde said. Lagarde said her list of worries also include high … [Read more...] about IMF MD Lagarde says protectionism Is darkest cloud over world economy
The International Monetary Fund (IMF), in its Barbados Staff Report for the 2017 Article IV consultation, says the island’s economy is slowing, following recovery in 2016. The report was released Friday after Prime Minister Mia Mottley met with her economic team, the Governor of the Central Bank and senior officials of the Ministry of Finance and Economic Affairs to receive a briefing on the economic challenges facing the Barbados economy. According to the report, international reserves, which are already low, continue to decline. “While there is significant progress in reducing the high fiscal deficit, the government will fall short in meeting the ambitious fiscal adjustment targets set in the May 2017 budget,” the IMF said. “The adjustment, if maintained, will lead to a decline in the debt-to-GDP ratio, but debt will remain unsustainable. Further delays in privatization will lead to a continued decline in reserves, while large financing requirements remain a … [Read more...] about IMF says economy is slowing following 2016 recovery
KUALA LUMPUR: Former Prime Minister Datuk Seri Najib Razak took to Twitter tonight to comment on Finance Minister Lim Guan Eng's remark that the country's economy remains strong with solid fundamentals. Referring to a news article published by The Star, Najib said he found it odd that the country's economy went from being in crisis to remaining strong in a short period of time. "I find it odd how fast the country's economy changed from apparently being in crisis and a failure before the 14th General Election (GE14) to being strong and solid. "In just over two weeks?" Najib wrote on his account @NajibRazak. Lim, yesterday, told reporters that Malaysia's economic fundamentals were still intact, noting that the new government would strive to make the country's fiscal position more sustainable. "In the finance sector, for example, it is still strong and banks are stable because of (having) high capitalisation and with low non-performing loans...and liquidity in the funds or capital market … [Read more...] about Najib: In just over two weeks economy changed?
PETALING JAYA (THE STAR/ASIA NEWS NETWORK) - Former Malaysian prime minister Najib Razak took a swipe at the new Pakatan Harapan government in a sarcastic Twitter post, marvelling at how they transformed Malaysia's "failed" economy into a strong one in just two weeks. "I am amazed at how quickly the country's economy has transformed from a so-called crisis situation and failed state before GE14, to a strong and strengthened economy after. Only in two weeks," tweeted Datuk Seri Najib on Saturday (May 26). GE14 refers to the country's general election that was held on May 9. Mr Najib's tweet comes after he released a statement criticising Finance Minister Lim Guan Eng for unsettling the financial markets, alarming credit rating agencies and spooking investors with his announcement that Malaysia's debt is now at RM1 trillion (S$338 billion). Earlier this week, Mr Lim had said that the country's debt had breached the RM1 trillion-mark, higher than the figure announced by the previous … [Read more...] about Ex-PM Najib takes swipe at how quickly new government transformed economy
Marina Lopes, The Washington Post Published 8:09 am, Saturday, May 26, 2018 Photo: Bloomberg Photo By Rodrigo Capote Image 1of/1 CaptionClose Image 1 of 1 Vehicles sit in line to refuel Thursday in Sao Paulo, Brazil, where a truckers strike over rising fuel costs has halted deliveries and caused a shortage of goods and services throughout the country. Vehicles sit in line to refuel Thursday in Sao Paulo, Brazil, where a truckers strike over rising fuel costs has halted deliveries and caused a shortage of goods and services throughout the country. Photo: Bloomberg Photo By Rodrigo Capote In Brazil, a truckers' strike brings Latin America's largest economy to a halt 1 / 1 Back to Gallery SAO PAULO, Brazil - A truckers' strike that has thrown Brazil into chaos entered its sixth day, with protesters blocking … [Read more...] about In Brazil, a truckers’ strike brings Latin America’s largest economy to a halt