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Factbox-Emerging economies in focus at IMF World Bank meetings

Factbox-Emerging economies in focus at IMF World Bank meetings

LONDON, April 13 (Reuters) - Global financial policy makers gather in Washington for the International Monetary Fund and World Bank Group Spring Meetings this week against the backdrop of yet another global economic shock - this time from the Iran war https://www.reuters.com/world/iran/.
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President Trump Influences Climate Discussions at Global Finance Talks

President Trump Influences Climate Discussions at Global Finance Talks

At the International Monetary Fund and World Bank Group spring meetings, discussions on climate finance have been overshadowed by U.S. policy under President Trump. The U.S. Treasury Secretary, Scott Bessent, has pushed for the removal of climate finance targets from the World Bank's aims, advocating for an 'all-of-the-above' energy approach that includes fossil fuels. This stance has caused concern among other countries and international finance institutions, as it may hinder efforts to address the climate crisis. The U.S., as the largest shareholder in the World Bank, holds significant influence over its policies.
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Long Iran war may require painful central bank tightening, IMF chief economist says

Long Iran war may require painful central bank tightening, IMF chief economist says

By David Lawder WASHINGTON, April 14 (Reuters) - Central banks may need to inflict much more economic pain to control inflation fueled by a long Middle East war than they did to control the spike in prices after the pandemic, the International Monetary Fund's chief economist said.
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World Bank chief sounds alarm about looming jobs crisis even after war ends

World Bank chief sounds alarm about looming jobs crisis even after war ends

By Andrea Shalal WASHINGTON, April 13 (Reuters) - The Middle East war will dominate global finance officials' talks this week in Washington, but World Bank President Ajay Banga is sounding the alarm about a bigger, looming crisis: a huge gap in jobs for the 1.2 billion people who will reach working
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Under pressure: Tracking the pain in G7 government debt

Under pressure: Tracking the pain in G7 government debt

By Yoruk Bahceli, Ben Welsh, Dhara Ranasinghe and Rocky Swift LONDON/NEW YORK/TOKYO, April 14 (Reuters) - The world's major economies have seen their debt levels surge in recent years, while ever-increasing spending demands -- from ageing populations to climate change and defence -- are adding to
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Iran war weighs on global economy as IMF meeting starts

Iran war weighs on global economy as IMF meeting starts

By Mark John LONDON, April 13 (Reuters) - Alarm over the impact of the Iran war on the global economy grew on Monday with more countries announcing emergency support measures to combat rising energy costs, while others appealed for international support.
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Ghanaian Premier League player killed in suspected armed robbery attack on team bus

Ghanaian Premier League player killed in suspected armed robbery attack on team bus

The Ghanaian Football Association says that soccer player Dominic Frimpong was killed after his team's bus was attacked by suspected armed robbers
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Traders see clear path to higher-for-longer ECB rates

Traders see clear path to higher-for-longer ECB rates

By Stefano Rebaudo April 13 (Reuters) - Money market traders expect the European Central Bank to lean hawkish, keeping rates higher for longer and offering little prospect of easing even in the medium term as the energy shock from the ongoing Iran war is seen persisting.
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IMF cuts growth outlook, warns of potential global recession if Iran war worsens

IMF cuts growth outlook, warns of potential global recession if Iran war worsens

By David Lawder WASHINGTON, April 14 (Reuters) - The International Monetary Fund cut its growth outlook on Tuesday due to Iran war-driven energy price spikes and supply disruptions and warned that the global economy would teeter on the brink of recession if the conflict worsens and oil stays above $
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Analysis-Protracted Iran war narrows BOJ's rate hike options

Analysis-Protracted Iran war narrows BOJ's rate hike options

By Leika Kihara TOKYO, April 13 (Reuters) - Once seen as a strong possibility, a Bank of Japan rate hike in April is turning into a fainter prospect as fading hopes of an end to the Middle East conflict keep markets volatile and muddle the outlook for a fragile economy.
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Economic shock of Middle East war to cast shadow over IMF, World Bank meetings

Economic shock of Middle East war to cast shadow over IMF, World Bank meetings

By Andrea Shalal WASHINGTON, April 12 (Reuters) - Top finance officials from around the world will convene in Washington this week under the shadow of the war in the Middle East, which has delivered a third major shock to the global economy after the COVID pandemic and Russia's full-scale invasion
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UN Report Highlights Widening Gap Between Rich and Poor Nations Amid Unfulfilled Promises

UN Report Highlights Widening Gap Between Rich and Poor Nations Amid Unfulfilled Promises

A United Nations report has revealed that the gap between wealthy and impoverished nations is expanding, as commitments made by countries to reform global financial institutions remain unfulfilled. The report, issued ahead of the International Monetary Fund (IMF) and World Bank meetings, assesses the Seville Commitment adopted last year, which aimed to close a $4 trillion annual financing gap for development. Despite unanimous adoption by many nations, excluding the United States, the commitment has not been realized, with geopolitical tensions and trade barriers exacerbating the situation. The report criticizes the IMF and World Bank for favoring rich countries and failing to support poorer nations, especially during the COVID-19 pandemic.