Finance

Pakistan seeking $8 billion International Monetary Fund bailout

Pakistan seeking $8 billion International Monetary Fund bailout

The IMF predicts the global economy will grow by 3.7 percent in 2018 and 2019 - a 0.2 percentage point downward revision from previous forecasts.

But citing external factors - "the recent increase in oil prices and the tightening of global financial conditions" - it cut India's growth projection made in July for next year by 0.1 per cent to 7.4 per cent, which would still be the world's fastest growth rate for major economies.

The Fund said that revenue gains from non-financial public corporations and government financial assets alone could be as high as 3 per cent of GDP a year, equivalent to the annual corporate tax collections across advanced economies.

U.S. Treasury Secretary Steven Mnuchin is expected to meet with worldwide finance officials in Indonesia this week during IMF and World Bank summits, though as of Monday he had no meetings scheduled with Chinese officials - as reported by Reuters.

The IMF said that global growth rates have hit a plateau at 3.7%, and would continue to remain at this level in 2019-'20.

India hopes to secure a waiver from US sanctions on Iran before they take effect on November 4, as it had significantly cut Iranian oil imports before the deadline, officials said on Monday...

To cool inflationary pressure, the American central bank, the Federal Reserve, is raising interest rates, which acts as a further attraction to global capital because returns are higher.

Regulatory tightening has slowed the buildup of risks in China's financial sector and made it harder for weaker borrowers to obtain credit, the International Monetary Fund said in its semiannual "Global Financial Stability Report", pointing to a surge in corporate bond defaults in 2017 and 2018.

The downgrade reflects a confluence of factors, including the introduction of import tariffs between the USA and China, weaker performances by euro zone countries, Japan and Britain.

"It's inevitable that central banks make the decisions that they make".

The IMF expects SA's economy to expand by 1.4% in 2019, down from its April projection of 1.7%.

The fund kept its forecast for growth in the Chinese economy unchanged at 6.6 percent this year.

"We are all deeply concerned about this news and the potential impact on the business. But we need to do it (go to IMF) before our reforms start yielding results in about six months", Khan said.

In a new simulation exercise to show trade war risks to the global economy, the International Monetary Fund modeled the effect of an all-out US-China trade war, coupled with threatened global US vehicle tariffs and retaliation from trading partners.

China, however, could still be labelled a currency manipulator if the US Treasury decides to rely more heavily on the older 1988 Act, which allows for a more subjective assessment of whether a currency is being manipulated to gain unfair competitive advantage in trade. The government has already hiked gas tariff on average by 35 percent and more could follow.


  • Intel's 9th generation processors are here to outperform the competition

    Intel's 9th generation processors are here to outperform the competition

    AnandTech has a rundown of all the new Z390 motherboards if you need help selecting the flawless option for your new build. We don't know if this is a refresh of Skylake-X at the moment, but we are hoping to have that question answered soon.
    Apple categorically denies bombshell report on Chinese 'spy' microchips in iCloud servers

    Apple categorically denies bombshell report on Chinese 'spy' microchips in iCloud servers

    Apple never had any contact with the Federal Bureau of Investigation or any other agency about such an incident. The outlet said the hacking is "the most significant known supply chain attack ever against USA companies".
    FBI has ’free rein’ in Kavanaugh investigation

    FBI has ’free rein’ in Kavanaugh investigation

    Kavanaugh has called her accusations a "joke" and Judge said he "categorically" denies the allegations. Senate this week demanding male senators justify their support for Brett Kavanaugh's U.S.
  • Robbie Elliott gives advice to Newcastle manager Rafa Benitez on Twitter

    Robbie Elliott gives advice to Newcastle manager Rafa Benitez on Twitter

    Mourinho was justified in feeling relieved amid a swirl of speculation about him being fired as manager during the last weekend of action for two weeks before the global break.
    US First Lady lands in Kenya for two-day visit

    US First Lady lands in Kenya for two-day visit

    The first lady spent time with a herd of elephants in the park and fed formula to two that are being raised at the park. A white woman on the roadside held up a handmade sign as the first lady's motorcade passed that said "Melania Me Too".

    Trump comments on Ford ‘appalling…cruel,’ Dianne Feinstein says

    She would not say if the remarks would affect her vote. "What neighbourhood was it in?" 'Where's the house?' I don't know. She told reporters Dr Ford has "been treated like a Faberge egg by all of us, beginning with me and the president".
  • Once a Kavanaugh fan, former Justice John Paul Stevens withdraws support

    Once a Kavanaugh fan, former Justice John Paul Stevens withdraws support

    Senate Judiciary Committee Chairman Chuck Grassley said Saturday that Supreme Court Chief Justice John Roberts, a George W. At the heart of Stevens' critique was Kavanaugh's highly partisan speech defending himself against Dr.
    Elon Musk to step down as Tesla chairman

    Elon Musk to step down as Tesla chairman

    Two days later, Elon Musk and SEC reached a settlement that will leave a 20 million dent on the Billionaire's pockets. This weekend's settlement made clear that Musk was neither accepting guilt nor denying the SEC's allegations.

    Trump Confirms Rejecting Trudeau's Meeting Invite: 'I Told Him 'Forget About It''

    Trump had kind words for incoming left-wing President Andres Manuel Lopez Obrador, calling him "great". That could end up hurting US auto companies that make cars in Canada and buy auto parts from Canada.
  • Senate heads to final vote on Kavanaugh

    Senate heads to final vote on Kavanaugh

    Manchin used an emailed statement to announce his support for Kavanaugh moments after Collins finished affirming hers. The Senate is poised on Saturday to confirm Kavanaugh as an associate justice.
    Trump delivers speech to police chiefs in Orlando

    Trump delivers speech to police chiefs in Orlando

    Trump gave a more somber speech than he does at political rallies, but he still slipped in some inflammatory asides. Trump also indicated that he was ready to keep working with Rosenstein.
    Manchester United Players Side With Mourinho As He Lashes Out At Pogba

    Manchester United Players Side With Mourinho As He Lashes Out At Pogba

    That's according to the Manchester Evening News who also claim Ander Herrera, Eric Bailly and Juan Mata are all available. I'm not the manager, I can not , like, say that, but obviously we should show more options of playing".