Page 31 - Marrakech News Today

(Bloomberg) -- Africa needs international relief from a vicious funding squeeze that have left as many as eight of its countries requiring debt restructuring, an International Monetary Fund official said.Most Read from BloombergIsrael Latest: Hamas Leaders Targeted as Ground War LoomsIsrael Latest: NATO Allies Urge Immediate Release of HostagesApollo CEO Marc Rowan Demands UPenn Leaders Quit Over ‘Antisemitism’Goldman Sues Malaysia as 1MDB Settlement Dispute EscalatesIMF Caught Off...

Sub-Saharan Africa's economic growth will shrink for a second year in a row in 2023 before rebounding in 2024, the International Monetary Fund said on Tuesday in a report in which it cut its forecasts for economic expansion.

India News: MARRAKECH: World Bank President Ajay Banga on Wednesday outlined a series of steps that the multilateral agency has initiated to make it “better” and .

World Bank President Ajay Banga has big ambitions, including measuring the bank’s performance based on outputs, rather than inputs. But ceasing fossil-fuel financing doesn’t appear to be on the agenda for now.

The bank will soon approach its shareholders proposing a capital increase and redefinition of its mandate, he added. "Im definitely going to go back to our shareholders to seek a bigger bank," Banga said. "I believe that is what the world needs for the next coming decades."

The IMF said it expects global economic growth to slow to 2.9% in 2024 from an expected 3% this year

The International Monetary Funds executive director, KV Subramanian, believes that India will be able to handle the spike in crude oil prices caused by the conflict in Gaza. He stated that Indias strong handling of the pandemic and its balanced approach to supply and demand measures have positioned the country well. However, he noted that higher oil prices may require additional measures to address inflation. Subramanian also mentioned that the impact on interest rates and the proposed Middle Ea...

Pakistan’s finances to come under the scanner at Marrakech meetings

What investors will be watching over the next seven days

Moroccans living just an hour from where the global financial elite will gather for IMF and World Bank meetings next week are homeless and destitute after last month's deadly earthquake, camping amid the rubble of their devastated villages. Near the conference venue in the city of Marrakech, where quake damage was less severe, the old city wall has already been repaired, a fallen minaret has been covered up, rubble has been removed, lawns trimmed and flowers planted. A single night in a t...