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World,Front Page
US President Joe Biden on Wednesday shrugged off voter concerns over his age, saying he feels "good" about seeking a second term to take on the "danger" he believes Donald Trump poses to American democracy."I feel good, I feel excited about the prospects" of a second te...
World
US President Joe Biden and his South Korean counterpart Yoon Suk Yeol warned North Korea it would face a nuclear response and the "end" of the leadership there if Pyongyang uses its own arsenal.Speaking at the White House after Oval Office talks during only the second state visit so far in...
World,Back Page
Europe will see a "sharp slowdown" in economic growth this year, but most countries will avoid a recession, the director of the International Monetary Fund's European department told AFP Friday. IMF forecasts published earlier this week predict the Euro area will grow by 0.8 perce...
Business
Countries must do more to avert the costly consequences of growing global trade fragmentation and help avert a "second Cold War," the International Monetary Fund's managing director said Thursday."I am among those who know what are the consequences of a Cold War: it is loss of tal...
Sri Lanka's major creditors officially launched a negotiation Thursday for restructuring the island's debt, an essential step to give the Indian Ocean nation some financial breathing room."I am very pleased to announce that an agreement has been reached between the creditors to discuss ...
The US banking and financial systems remain "safe, sound, strong and resilient," despite the rapid collapse of two regional US banks last month, Federal Reserve governor Michelle Bowman said Friday. Silicon Valley Bank (SVB) and Signature Bank failed in rapid succession last month fol...
World Bank member countries have endorsed measures allowing a $50 billion lending boost over the next decade, its outgoing president David Malpass said Wednesday.The move, announced during the International Monetary Fund (IMF) and World Bank spring meetings in Washington, is part of an ongoing evolu...
The underlying drivers of historically-high global inflation could persist until 2025, the International Monetary Fund's chief economist told AFP on Tuesday.Prices around the world have surged since the rapid reopening of the global economy after the Covid-19 pandemic. Inflation was further fuel...
The World Bank and International Monetary Fund's spring meetings get underway later this week with an ambitious reform and fundraising agenda likely to be overshadowed by concerns over high inflation, rising geopolitical tension and financial stability."Growth remains historically weak -- n...
The World Bank's ongoing reform could result in a $50 billion lending boost over the next decade, Treasury Secretary Janet Yellen told AFP ahead of stakeholders' meetings next week where key changes are expected to be announced.Central bankers, finance ministers and participants from more th...
Central banks around the world should keep battling inflation by hiking interest rates despite ongoing concerns about financial stability, the head of the International Monetary Fund told AFP on Thursday.Since last year, central banks have been raising their benchmark lending rates to tackle inflati...
Tennessee's Republican-led state legislature on Thursday expelled two Democratic lawmakers who led gun control protests at the state capitol in the wake of a school shooting.US President Joe Biden condemned the action as "shocking" and an effort "to punish, silence and expel duly-...
President Joe Biden on Friday called for Russia to release Wall Street Journal reporter Evan Gershkovich, who is being held on espionage charges, while rebuffing a call from the paper's editorial board to expel Russian journalists from the United States.Asked by White House reporters what his me...
The International Monetary Fund's executive board on Friday announced a $5.4 billion disbursement to Argentina, part of a $44 billion loan program as the South American nation faces a severe economic panorama.Argentina is the target of the largest assistance program currently under IMF implement...
Asian markets were mixed Thursday following a recent run-up, with banking sector worries easing and traders weighing central banks' interest rate plans in the wake of the recent turmoil. Investors have taken heart from reassurances by authorities around the world that the fallout from the collap...
The United States and Japan have reached an agreement on trade in minerals that are key to electric vehicle batteries, US trade officials said late Monday, a move to reinforce supply chains in a sector dominated by China.Rare earth elements and minerals such as lithium are becoming increasingly impo...
The United States will likely enter a recession this year and face high inflation well into 2024, a majority of economists predicted in their response to a semiannual survey.More than two-thirds of respondents to the National Association for Business Economics (NABE) Policy Survey also see inflation...
US bank First Citizens said Monday it has agreed to purchase all loans and deposits from Silicon Valley Bank, whose collapse this month sparked global fears about the sector.SVB, a key lender to the tech industry since the 1980s, became the biggest US bank to fail since 2008 when regulators seized i...
Fitch Ratings downgraded Argentina's foreign currency debt on Friday by two notches to leave it hovering one level above default.The debt downgrade from CCC- to C suggests that the ratings agency believes a default is "imminent," and comes shortly after an Argentinian government decree...
The US banking sector is "stabilizing" after the recent failures of Silicon Valley Bank and Signature Bank rattled the industry, Treasury Secretary Janet Yellen will tell a summit Tuesday, according to prepared remarks.The collapses caused a crisis of confidence, with many customers of sim...
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