Director of the International Monetary Fund and the Argentine Economy Minister at a seminar in the Vatican

This content was posted on May 07, 2021 – 09:55 May 07, 2021 – 09:55 Vatican City, May 7 (EFE). The Vatican organized a symposium.....»»

Category: newsSource: thedailyguardian thedailyguardianMay 8th, 2021

Argentine Finance Minister meets with the President of the International Monetary Fund

The mission of Argentine Economy Minister Martin Guzmán in the United States was highlighted by a meeting that lasted more than two hours with the.....»»

Category: newsSource:  thedailyguardianRelated NewsMar 24th, 2021

IMF improves growth forecast for Mexico in 2021 from 4.3% to 5% – El Financiero

The International Monetary Fund (IMF) expects the Mexican economy to grow by 5 percent this year, 0.7 percentage point more than expected in January. Additionally,.....»»

Category: sportsSource:  abscbnRelated NewsApr 7th, 2021

Without the authorities’ intervention all at once, we would experience a depression three times deeper: Georgieva

Without the historic intervention of governments and central banks to cope with the shock of the pandemic, the managing director of the International Monetary Fund.....»»

Category: sportsSource:  abscbnRelated NewsApr 7th, 2021

Economy sank 9.6% in 2020, says IMF

The International Monetary Fund said Tuesday it expects the Philippine economy to rebound 6.6 percent this year, after sinking by an estimated 9.6 percent in 2020 because of the prolonged global impact of the COVID-19 pandemic......»»

Category: financeSource:  thestandardRelated NewsJan 27th, 2021

Gov’t pushes digitalized, mechanized farm sector

The Department of Finance (DOF) said the government is rapidly digitalizing the country’s agricultural systems and mechanizing farm production to ensure food security over the long run. During the virtual 2020 Annual Meetings of the International Monetary Fund and the World Bank Group, Finance Secretary Carlos G. Dominguez III said the government wants to turn the coronavirus-induced health emergency into an opportunity. Finance Secretary Carlos G. Dominguez III (MANILA BULLETIN FILE PHOTO) To do so, Dominguez said efforts to implement the twin measures are being done to expand Filipinos’ market access for food producers while keeping food supply available and prices affordable. “We are confident that the innovative measures we are putting in place today will transform Philippine agriculture into a dynamic, high-growth sector that will fuel our country’s strong recovery,” Dominguez said during the high-level Food Security Roundtable at the meeting. Dominguez said the government is also promoting digital marketing to support ongoing efforts to boost consumer spending in the new normal and sustaining public investments in rural infrastructure. He added that the government is accelerating the move towards agricultural technology-based farming and value chain development to ensure long-term food security.  To channel more funds into the agriculture sector, the government is also encouraging more private-sector financing in the sector by proposing reforms in the Congress that will provide more access to credit for the entire agricultural value chain, Dominguez said.   “We all aspire for greater food and nutrition security for our people. Only an efficient and modern agriculture sector can fully deliver that,” Dominguez, who was Agriculture secretary during the administration of the late President Corazon Aquino, said. Amid pandemic, Dominguez III said the Philippines has been handling the COVID-19 crisis “with strength on the food security front” duets reforms, particularly with the passage of the Rice Tariffication Law (RTL). According to Dominguez, the agriculture sector was “one of the brightest spots” of the Philippines’s response to the pandemic owing in large part to the RTL. He pointed out that agriculture sector even continued to grow when the rest of the economy contracted because of the COVID-19 pandemic.  Dominguez said rice tariffication was among the main reasons why the government has succeeded in keeping food prices and supply stable, and inflation low during the COVID-19 emergency.  Keeping rice prices stable has been helpful for low-income households that spend a fifth of their budgets on rice alone, he added.   “The Philippines faced the COVID-19 pandemic with strength on the food security front,” Dominguez said.  He pointed out that despite logistical restrictions resulting from the lockdowns imposed to protect people and communities from the lethal coronavirus, the government was able to sustain the flow of produce from local farms to Filipino consumers.   “A food crisis did not happen. This is credited to the effective management of the food supply by our Agriculture Department,” Dominguez said......»»

Category: newsSource: NewsNov 8th, 2020

High COVID-19 Cases Could Pose Threat to PH Economy

Even though countries all over the world are starting to implement the “new normal” way or life, the coronavirus disease 2019 (COVID-19) pandemic is still a threat to every economy. In the Philippines, COVID-19 cases still continues to elevate, affecting the economy. This prompts the International Monetary Fund (IMF) urged every concerned sector to stem […].....»»

Category: sportsSource:  abscbnRelated NewsOct 21st, 2020

IMF: PH economy to shrink 8%

The International Monetary Fund (IMF) downgraded its 2020 Philippine economic growth forecast on the back of the expected slowdown in private investment and consumption due to the coronavirus disease 2019 (Covid-19) pandemic. In its World Economic Outlook (WEO) report released on Tuesday, IMF said the country’s gross domestic product (GDP) is projected to contract by […].....»»

Category: newsSource:  manilatimes_netRelated NewsOct 15th, 2020

IMF expects PH economy to contract deeper by 8.3%

The International Monetary Fund said Tuesday it revised its 2020 gross domestic product forecast for the Philippines to a deeper contraction of 8.3 percent from a previous estimate of a 3.6-percent decline in June on the prolonged impact of the COVID-19 pandemic......»»

Category: financeSource:  thestandardRelated NewsOct 13th, 2020

Multilaterals, credit raters: PH economy to rebound in 2021

Global financial bodies and credit rating agencies expect the Philippine economy to recover in 2021 following the careful resumption of business activities this year, but the Covid-19 crisis keeps this far from certain. Multilateral institutions see domestic output shrinking by between 1.9 percent and 7.3 percent this year before bouncing back. The International Monetary Fund […].....»»

Category: newsSource:  manilatimes_netRelated NewsOct 13th, 2020

Thailand Moves a Step Closer to Welcoming Back Foreign Tourists

Thailand will start issuing special visas to foreign tourists starting October, easing a more than five-month-old ban on visitors to revive the nation’s ailing tourism-reliant economy. Prime Minister Prayuth Chan-Ocha’s cabinet approved a proposal to issue visas to tourists planning to stay between 90 and 280 days in Thailand, according to government spokeswoman Traisuree Taisaranakul. The tourists will undergo a mandatory 14-day state quarantine on arrival at partner hotels or hospitals and follow health and safety regulations, she said. The government expects about 1,200 visitors to avail themselves of these visas each month, generating about 1.2 billion baht ($38.5 million) in revenue. The easing of border restrictions may boost the nation’s pandemic-battered tourism industry and cushion the blow to an economy projected to contract 8.5% this year. The news of cabinet approval for special visas triggered a rally among hotel and travel operators in Bangkok. A measure of Thai tourism and leisure stocks jumped 4.5%, the biggest gainer among the Stock Exchange of Thailand’s 28 industry groups. It was also the index’s largest increase since May 26. While Hotel operators Erawan Group Pcl and Central Plaza Hotel Pcl surged more than 8%, Minor International Pcl advanced 5.5%. Thailand’s tourism and hospitality sectors are counting on the return of international visitors, who contributed to two-thirds of tourism income before the pandemic, to reverse the slump in businesses and save millions of jobs. A government campaign to boost travel by locals through hotel and air travel concessions has failed to make up for the slump in earnings, but the move to allow foreigners in small batches will still be a relief to the industry. “There will not be a huge economic impact from this as it still can’t compensate for the revenue lost, but it will help,” Somprawin Manprasert, chief economist at Bank of Ayudhya Pcl said. “This plan still targets a higher-spending group of foreign visitors which will not benefit tourism industry operators that have lower to mid-price points, who will still suffer.” The move to relax curbs on foreign tourists also follows Thailand’s relative success in containing the coronavirus outbreak. The nation went without a local transmission for 100 days before the virus-free run was ended early this month. Though Thailand was the first country outside China to report the deadly virus, its cumulative cases stand at 3,480 with most patients already discharged from hospitals. The reopening to foreign tourists may be risky, but it is a manageable risk worth taking, Bank of Thailand’s Senior Director Don Nakornthab wrote in an article on the central bank’s website. The country may be headed for a second straight year of contraction in 2021 if it continued to restrict foreign visitor arrivals, Don wrote......»»

Category: sportsSource:  abscbnRelated NewsSep 15th, 2020

Uphill recovery

The International Monetary Fund made an honest assessment on the prospects of global economic recovery amid the coronavirus pandemic. The global economy has shown signs of bouncing back but a full recovery, says IMF chief Kristalina Georgieva, is “unlikely” without a vaccine......»»

Category: newsSource:  thestandardRelated NewsSep 10th, 2020

IMF predicts worst Middle East downturn in half century

DUBAI, United Arab Emirates – The International Monetary Fund (IMF) on Monday, July 13, again sharply lowered its Middle East and North Africa economic forecast , to its lowest level in 50 years, over the "twin shock" of the coronavirus pandemic and low oil prices . The region's economy ........»»

Category: newsSource:  rapplerRelated NewsJul 26th, 2020

IMF now sees PH contracting 3.6% this year

The International Monetary Fund expects the Philippine economy to contract by 3.6 percent this year, a significant downward revision from its April estimate of a 0.6-percent expansion on the devastating impact of the coronavirus disease 2019 pandemic......»»

Category: financeSource:  thestandardRelated NewsJun 24th, 2020

BSP extends regulatory relief measures

The Bangko Sentral ng Pilipinas is further extending until end-2021 the regulatory relief measures given to banks and financial institutions despite a recommendation from the International Monetary Fund to allow the forbearance measures to lapse as scheduled and avoid the introduction of new measures......»»

Category: newsSource:  philstarRelated NewsApr 27th, 2021

IMF urges BSP not to delay recognition of losses, restructuring of NPLs

A prompt loss recognition and non-performing loan restructuring may help Philippine banks prevent sharp deleveraging and recover faster from the pandemic-induced recession, according to the International Monetary Fund......»»

Category: financeSource:  philstarRelated NewsApr 12th, 2021

Philippines at risk of inclusion in FATF’s grey list

The Philippines is in danger of being included anew in the grey list of Paris-based dirty money watchdog Financial Action Task Force if it fails to enact the amendments to the country’s bank secrecy laws, according to the International Monetary Fund......»»

Category: financeSource:  philstarRelated NewsApr 12th, 2021

IMF raises its forecast for Mexico’s GDP to 5%

The United States will be an important engine in the global recovery. Risks remain, especially in less developed economies. The International Monetary Fund (IMF) has.....»»

Category: sportsSource:  abscbnRelated NewsApr 7th, 2021

The Group of Seven supports the greater financial strength of the International Monetary Fund

The Group of Seven (G7) nations approved the first increase in International Monetary Fund (IMF) reserves since 2009, a move to help developing countries deal.....»»

Category: newsSource:  thedailyguardianRelated NewsMar 22nd, 2021

Then Elecciones México will assess the terms of the tax reform.

The International Monetary Fund (IMF) has suggested that Mexico implement tax reform to support the country’s spending in the medium term and accelerate recovery. Analysts.....»»

Category: newsSource:  thedailyguardianRelated NewsMar 12th, 2021

Guzmán said he wanted the deal with the International Monetary Fund before May

“It would be acceptable for us to end these negotiations with the International Monetary Fund before the deadline with the Paris Club in May 2021.”He.....»»

Category: sportsSource:  abscbnRelated NewsJan 29th, 2021