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The Latest Breaking News from International Monetary Fund

Biden is off to India and Vietnam. It's part of his push to counter China's influence

President Biden is using the G20 summit to push for a bigger, better World Bank as an alternative to China's massive lending programs, which have left some low-income countries with massive debt.

WEKU

War sanctions against Russia highlight growing divisions among the Group of 20 countries

Treasury Secretary Janet Yellen is facing growing skepticism from some leading rich and developing nations as the residual impact of sanctions against Russia is deepening divisions among the Group of 20 countries

The Independent UK

Poor ONS forecasts could be hurting our economy

City Voices: Investment decisions have already been made based on the incorrect economic analysis

Evening Standard

From analysis to the latest developments in health,
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IMF report a timely wake-up call for NZ Inc in election countdown

Business & Investing: Restaurant Brands leads earnings downturn, reporting a problem faced by many businesses: margins being severely squeezed due to cost increases. Andrew Patterson reports.

Newsroom.co.nz

Pakistani traders strike countrywide against high inflation and utility bills

Pakistani traders have staged strikes across the country against the soaring cost of living, including higher fuel and utility bills and record depreciation of the rupee against the dollar

The Independent UK

Pakistan gov’t says no relief in power bills as protests escalate

‘No room for subsidies’ as Pakistanis suffer inflated electricity bills, rising inflation.

Al Jazeera

IMF managing director to attend G20 summit in Delhi after trips to China and Indonesia

IMF MD Kristalina Georgieva to visit China, Indonesia, India for ASEAN & G20 summits. She'll meet with top leaders & discuss global growth outlook. She will be in Jakarta from September 4 to 7 and in New Delhi from September 8 to 10

The Hindu

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US milks Korea's anti-capitalist content

Instead of heeding Korea's dire messaging, Hollywood may have to face the bitter fruits of another labor movement

Salon

In a multipolar world the dollar’s dominance won’t last forever

While we shouldn’t read too much into the Brics expansion, the geopolitical landscape is shifting

The Guardian - UK

Analysis: Tunisia isolated, but migration realpolitik keeps Europe onside

US and EU concerned with state of Tunisia’s democracy but will ultimately retain ties, analysts say.

Al Jazeera

Brics expansion: six more nations are set to join – what they’re buying into

One key outcome of the 15th Brics summit, hosted by South Africa, is the decision to invite six more countries to join the group with effect from January 2024. They are Argentina, Ethiopia, Iran, Saudi Arabia, Egypt and the United Arab Emirates. All six had applied for membership. The enlargement…

The Conversation

Fossil fuels being subsidised at rate of $13m a minute, says IMF

Oil, gas and coal benefited from $7tn in support in 2022 despite being primary cause of climate crisis

The Guardian - UK

How the BRICS nations failed to rebuild the global financial order

At its launch almost a decade ago, the BRICS nations’ New Development Bank (NDB) was celebrated as a chance for countries across the Global South to break free of the US-dominated IMF and World Bank and rewrite the rules of financing global development. But while the number of nations signed…

France 24

India ‘fully supports’ BRICS expansion as summit continues

South African officials say more than 40 countries from the Global South have shown interest in joining the BRICS bloc.

Al Jazeera

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The Independent UK

Four years into crisis, Lebanon's leaders hope tourism boom will help bypass reforms in IMF bailout

Lebanon's political elites are pushing a recovery plan for the country's financial collapse that would allow them to sidestep tough reforms demanded by the International Monetary Fund

Al Jazeera

Can BRICS create a new world order?

Dozens of nations want to join the club as an alternative to the US-led order. But internal fissures could limit BRICS.

The Independent UK

Argentina's anti-establishment candidate Milei engages IMF in economic talks after shock primary win

Argentina’s right-wing populist presidential candidate Javier Milei has met with International Monetary Fund officials to explain his economic proposals for the country, days after he became the surprise front-runner for the October election

The Hindu

The issue is not about India’s GDP, but its JDP

There is a big dissonance between GDP growth and its translation into actual jobs and incomes for people

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The Conversation

Despite domestic political turmoil, Pakistan is well placed to boost regional integration

Pakistan is showing clear signs of economic and political crisis. Inflation was recently almost 38%, and the country faces a debt crunch as it tries to manage its trade deficit with the rest of the world. Talks with the IMF over emergency loans have dragged on for months.

Cinemablend

Mission: Impossible - Dead Reckoning Part One Director Explains How They Decided On That Shocking Death, But I’m Still Mad About It

Mission: Impossible - Dead Reckoning - Part One's shocking death was explained by director Christopher McQuarrie, but I still don't have to like it.

The Hindu

Manipur High Court notice to Centre, State, Assam Rifles over contempt plea

The International Meeteis Forum (IMF) had filed a contempt petition before the Manipur High Court alleging that a mob of “Kuki men and women” coming from Churachandpur had vandalised and razed government structures inside the complex where they intended to bury 35 of their dead

Reason

Was the Radical Left Correct About the IMF and World Bank?

Alex Gladstein on how "monetary colonialism" has crippled the Third World

Cinemablend

In Today's Wild News, A Key Mission: Impossible Dead Reckoning Scene Was Filmed In Tom Cruise's Garage

The new Mission: Impossible movie was filmed all over the world, including at Tom Cruise's house.

The Guardian - AU

In previous downturns the world turned to China as an engine of growth – this time that driver may not be there

What might Chinese deflation mean for interest rates, commodity prices and even EV exports outside China?

Newsroom.co.nz

No big spenders allowed in Labour's campaign

Labour isn’t planning any big political promises during this year’s campaign in hope that voters see it as the fiscally smart choice, writes political editor Jo Moir

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