Abuja, April 8, 2021 The International Monetary Fund (IMF) has urged NIgeria and countries in Sub-Saharan Africa to do more domestically to increase tax revenues and improve the quality of spending.
Ms Kristalina Georgieva, Managing Director of IMF, made this known in Washington D. C. on Wednesday at the IMF/World Bank Spring Meetings news conference.
Georgieva also assured that the region would enjoy the fund’s support in improving governance, transparency and accountability to their citizens.
According to her, the fund, in 2020 increased 13 times, the financing, especially on emergency basis to Africa.
“We have advocated for debt service suspension and that has provided up to now, some seven billion dollars to low income countries.
Friday, 09 Apr 2021 05:59 AM MYT
The IMF is forecasting that US inflation will be 2.25 per cent in 2022, only slightly above the Fed’s 2 per cent target. Reuters pic
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WASHINGTON, April 9 International Monetary Fund’s steering committee on Thursday said the global economy is recovering faster than expected from the Covid-19 crisis, but warned that a spike in interest rates could be especially painful for emerging economies.
In its communique, the International Monetary and Financial Committee (IMFC) stressed the importance of accelerating distribution of Covid-19 vaccines around the world, and pledged to strengthen international cooperation.
Global economy recovering from pandemic, higher rates would hurt -IMF steering committee
International Monetary Fund’s steering committee on Thursday said the global economy is recovering faster than expected from the COVID-19 crisis, but warned that a spike in interest rates could be especially painful for emerging economies.
In its communique, the International Monetary and Financial Committee (IMFC) stressed the importance of accelerating distribution of COVID-19 vaccines around the world, and pledged to strengthen international cooperation.
“Elevated financial vulnerabilities could pose risks, should global financial conditions tighten swiftly,” the 24-member committee said. “The crisis may cause extended scarring and exacerbate poverty and inequalities, while climate change and other shared challenges are becoming more pressing.”
US stocks settled higher in overnight trade, but a four-day drop in the rupee can trigger foreign outflows from domestic equities. Add to that the indecisive technical charts and mixed cues from Asian markets, and any upside for domestic stocks would look limited for now. Here’s breaking down the pre-market actions.
STATE OF THE MARKETS
Nifty futures on the Singapore Exchange traded 14 points, or 0.09 per cent, lower at 14,932 in signs that Dalal Street was headed for a weak start on Friday.
Tech View: Nifty hurdle at 14,900
Nifty50 on Thursday closed almost where it had opened earlier in the day, thus forming an indecisive Doji candle on the daily chart. The index stayed above the key short-term moving averages, but weakness at a key resistance point, 14,900, made analysts believe any upside for the index may be capped for now.
IMF chief urges policymakers to foster fair recovery
By IANS |
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IMF chief urges policymakers to foster fair recovery. Image Source: IANS News
Washington, April 8 : The International Monetary Fund (IMF) Managing Director Kristalina Georgieva urged policymakers to take the right actions by giving everyone a fair shot, as global economy is seeing a multi-speed recovery. The good news is that there is light at the end of the tunnel. After the worst global recession since the second world war, the recovery is underway, Georgieva said in her opening remarks at a virtual press conference during the IMF/World Bank Spring Meetings on Wednesday, Xinhua news agency reported.