Thursday, 13 December, 2018
  • Economy
  • International Monetary Fund predicts India will grow at 7.3% in 2018-’19

International Monetary Fund predicts India will grow at 7.3% in 2018-’19

Pakistan to seek IMF bailout to overcome financial crisis The Pakistani rupee has fallen by more than 20 percent in four devaluations since December
Laurie Berry | 11 October, 2018, 14:21

Lagarde met with Finance Minister Asad Umar and State Bank of Pakistan Governor Tariq Bajwa, who are attending the fund's annual meeting in Bali.

Lagarde told reporters the Fed's rate hikes were justified by fundamentals.

Reforms to support inclusive and more sustainable development, and to avert financial crises, are key themes of the report of the G-20 Eminent Persons Group on Global Financial Governance, chaired by Deputy Prime Minister Tharman Shanmugaratnam, due to be released tomorrow.

He did not specify how much in emergency financing the government would seek, but he had earlier said the government would need at least $8 billion to meet external debt payments through the end of the year.

"It took a lot of people and a lot of time to push the boulder this far up the hill", he said.

Lagarde also touched on the economic situation in eurozone member Italy, warning Rome that it was well-advised to abide by European Union fiscal rules and adhere to the bloc's financial stability regulations amid concerns that the country's 2019 budget could exacerbate financial problems.

Her comments come as a trade spat between China and the United States threatens economic growth around the world, with International Monetary Fund experts warning of "new vulnerabilities" in the global system.

The downgrade reflects a confluence of factors, including the introduction of import tariffs between the United States and China, weaker performances by eurozone countries, Britain and Japan, and rising interest rates that are pressuring some emerging markets with capital outflows, notably Argentina, Brazil, Turkey, South Africa, Indonesia and Mexico.

PlayStation Online ID name change feature coming soon
Users that have already pre-registered as testers in previous PS4 software betas will have access to this new feature "soon". The standard price for a name change is going to be $9.99, and PlayStation Plus members will only need to pay $4.99.

The IMF, in its twice annual assessment of global financial stability, said conditions remain broadly conducive to economic growth, but are at risk of worsening should emerging markets deteriorate further or trade tensions escalate.

The IMF had in its World Economic Outlook report in July projected that Nigeria's economy would grow by 2.1 per cent in 2018 and 2.3 per cent in 2019.

"Nigeria, like many other emerging market countries, has come under market pressure since mid-April".

-China tariff war's impact to be felt next year, the fund cut its 2019 US growth forecast to 2.5 percent from 2.7 percent, while it cut China's 2019 growth forecast to 6.2 percent from 6.4 percent.

Citing the impact of USA taxes on Chinese imports, however, the International Monetary Fund shaved the outlook for China next year to 6.2 percent, which would be the country's slowest growth since 1990.

"It also expects the economy to grow 1.4 per cent in 2019, down from a previous estimate of 1.7 per cent".

Trump has repeatedly touted Wall Street record highs as proof of the success of his policies including a confrontational trade strategy, and frequently criticises the Fed for gradually raising interest rates, which could press the brakes on equity markets. "There is an appetite to improve and expand trade", she said, citing the TPP-11 - a revised Trans-Pacific Partnership after the US pullout - and progress on the US-Mexico-Canada deal.

Soyuz MS-10: Russian spacecraft makes emergency landing on Earth
Samsung Galaxy A9 goes official with four rear cameras

Recommended

  • One dead as monstrous Hurricane Michael tears into Florida

    One dead as monstrous Hurricane Michael tears into Florida

    As of around 8pm, Michael was about 20 miles southwest of Albany, Georgia, with winds of 100 mph, becoming a category 1 storm . It appeared to be so powerful that it was expected to remain a hurricane as it moved into Alabama and Georgia early Thursday.
    Michael crawls north, rising threat to Florida

    Michael crawls north, rising threat to Florida

    The "risk of risky storm surge, rainfall, and wind impacts continues to increase", the National Hurricane Center warned Sunday. He urged Floridians to get prepared for the storm and said he has activated 500 members of the Florida National Guard.
    Red Sox play 'New York New York' in clubhouse

    Red Sox play 'New York New York' in clubhouse

    Porcello needed only 25 pitches to get through New York's lineup the first time and entered the fifth inning with only 40 pitches. Those hits came a night after Brock Holt and Rafael Devers helped the Red Sox roll to a 16-1 rout in Game 3.
  • Jimmy Butler Returns To Practice:

    Jimmy Butler Returns To Practice: "You Can't Win Without Me"

    A couple of Butler's teammates were particularly vague when asked about Butler's level of participation in practice on Wednesday. The Timberwolves reportedly were close to making a trade with the Miami Heat during recent talks, but the deal fell apart.
    Wolves, Heat Nearly Reach Deal On Jimmy Butler Before Talks Collapse

    Wolves, Heat Nearly Reach Deal On Jimmy Butler Before Talks Collapse

    Timberwolves coach Tom Thibodeau , who has personnel input, reportedly had been attempting to broker Butler's return to the team. The Jimmy Butler trade drama which has overtaken the 2018 National Basketball Association offseason was almost over last week.
    'Pet Sematary' Is Alive Again In the Horror Remake Trailer

    'Pet Sematary' Is Alive Again In the Horror Remake Trailer

    Those woods belong to something else". "It may be just some insane folk tale, but there is something in those woods". The teaser makes great use of Lithgow, who narrates the whole thing and warns that sometimes, "dead is better".
  • Soyuz MS-10: Russian spacecraft makes emergency landing on Earth

    Soyuz MS-10: Russian spacecraft makes emergency landing on Earth

    A Soyuz rocket carrying the Soyuz MS-10 spacecraft lifted off from Baikonur Cosmodrome in Kazakhstan at 4:40 a.m. Search and rescue teams are in the air and heading towards the expected touchdown location, Nasa added.

    The Walking Dead's Season 9 Premiere Is One of Its Lowest Ever

    What might serve as the lemonade from the proverbial lemons here is the number of overall viewers has not quite reached a low. The series - with new showrunner Angela Kang in the driver's seat - had a lot of exposition to cover in the season 9 opener.
    Evacuations ordered as Florida braces for Hurricane Michael

    Evacuations ordered as Florida braces for Hurricane Michael

    Evacuations spanned 22 counties from the Florida Panhandle into north central Florida. And isolated tornadoes were also possible.
  • This Is Brett Kavanaugh's First Question as a Supreme Court Justice

    This Is Brett Kavanaugh's First Question as a Supreme Court Justice

    Kavanaugh denied the allegations and during a Senate hearing accused Democrats of an "orchestrated political hit". There are 100 Senators, two from each state, and Republicans now hold a razor thin majority with 51 seats.
    Melania Trump says women 'need evidence' if they say they're victims

    Melania Trump says women 'need evidence' if they say they're victims

    Trump also gave her thoughts on #MeToo, which seemed to boil down to supporting women when their claims can be backed by evidence. Because sometimes the media goes too far and the way they portray some stories [that are] not correct.
    Rock used as doorstop is actually a meteorite worth USD100K

    Rock used as doorstop is actually a meteorite worth USD100K

    The next morning the farmer and his father discovered the crater and dug out the meteorite, which was still quite warm. Mr Mazurek said that when he sells the meteorite, he will donate some of the money to the university.

Samsung Galaxy A9 goes official with four rear cameras Samsung Galaxy A9 goes official with four rear cameras The quad camera definitely looks interesting, but we'll have to wait and see how useful it is in real-world usage conditions. As for a release date, the Galaxy A9 will be releasing in select markets sometime in November.

Google unveils new Pixel smartphone at 10 media events around the world Google unveils new Pixel smartphone at 10 media events around the world The phones mirror an industry trend toward lusher, bigger screens and add twists on the camera for better pictures. The Pixel line-up is known for its AI-enabled camera performance and Pixel 3 and 3 XL take it a bit further.

Trump says Federal Reserve ‘has gone crazy’ after big stock drop Trump says Federal Reserve ‘has gone crazy’ after big stock drop Amazon and Microsoft lost 5% of their market value on Wednesday while Apple and Facebook shed 4%. He adds, "I think the Fed has gone insane ".

Two Britons killed in taxi among five dead in Majorca flash floods Two Britons killed in taxi among five dead in Majorca flash floods Rescue workers and military units from the Spanish mainland were heading to the area which is popular with British holidaymakers. Another resident, Tomas Oliver, cleaned his house as he celebrated that all the damage in his household had been material.

MSNBC Host Suggests Saudis Are Bribing Trump So They Can Assassinate Critics MSNBC Host Suggests Saudis Are Bribing Trump So They Can Assassinate Critics US Secretary of State Mike Pompeo has called for Saudi Arabia to support an investigation into Khashoggi's disappearance. The Turkish government has claimed that Khashoggi was killed in the consulate , on the orders of the Saudi government.

Hubble Space Telescope Apparently in 'Safe Mode' After Gyroscope Failure Hubble Space Telescope Apparently in 'Safe Mode' After Gyroscope Failure "Science operations with Hubble have been suspended while NASA investigates the anomaly", a statement from the space agency said. NASA became aware of the issue last Friday when a gyro, already displaying "end of life" behavior, went out of action.

Rare, polio-like disease affecting children in USA , says CDC Rare, polio-like disease affecting children in USA , says CDC CDC specialists will make the final determination as to whether the cases in Washington are AFM, state health officials said . This virus is transmitted from person to person and it can have severe effects of the brain and spinal cord of the system.

Meghan Markle's sister Samantha turned away from Kensington Palace after unannounced visitNaija247news Meghan Markle's sister Samantha turned away from Kensington Palace after unannounced visitNaija247news Samantha Markle recently travelled to Kensington Palace and according to reports, she was hoping to see her half-sister Meghan . Since her visit, Markle has posted a series of tweets about the trip to London, including a reference to her palace visit.

Mining sector, Morrison government on the defensive over IPCC report Mining sector, Morrison government on the defensive over IPCC report Susana Martinez took office in January 2011. "You know, which group drew it", Trump said on the White House's South Lawn. They say it excludes scientists who downplay the effect of burning fossil fuels.

Kavanaugh to hear first arguments as Supreme Court justice Kavanaugh to hear first arguments as Supreme Court justice Kavanaugh is accompanied by his wife Ashley Kavanaugh, third from left, and children Margaret, second from left, and Liza. McConnell's remarks were viewed as a signal that he would be open to filling a potential Supreme Court vacancy in 2020.

DUP Will Block May’s Budget if ‘Red Lines’ Abandoned, Wants Brexit Delivered DUP Will Block May’s Budget if ‘Red Lines’ Abandoned, Wants Brexit Delivered For customs and VAT, Barnier said, "we propose using the existing customs procedures to avoid doing checks at the transit points". That would be to finalise work on a declaration of close future ties with Britain that would also be part of the Brexit package.

Taylor Swift performs, Cardi B wins at American Music Awards Taylor Swift performs, Cardi B wins at American Music Awards Boy band BTS became the first Korean group to win an American Music Award , taking the trophy for favourite social artists . If you believe in equality for women, for people of colour, for the LGBTQ community.

Oil prices gain as Iranian crude exports fall, Hurricane Michael nears Oil prices gain as Iranian crude exports fall, Hurricane Michael nears Last week, the U.S. said it was considering waivers from sanctions on countries that were trying to reduce oil imports from Iran. Gulf of Mexico wells on Tuesday because of platform evacuations and shut-ins ahead of Hurricane Michael.

Huawei Mate 20 and Mate 20 Pro prices revealed ahead of launch Huawei Mate 20 and Mate 20 Pro prices revealed ahead of launch Huawei's purported Mate 20X is expected to be absolutely huge with a 7.21-inch OLED display and a native resolution of 2240x1080. It's a short 10-second clip showing a smartphone shrouded in a block of ice, revealed to be the Mate 20X by one of the hashtags.

US Gulf Coast bracing for 'monstrous' Hurricane Michael US Gulf Coast bracing for 'monstrous' Hurricane Michael It will weaken into a tropical storm near the Carolinas and Virginia on its way back to the Atlantic Ocean, forecasters said. Rick Scott on Monday called Hurricane Michael a "monstrous" and potentially "deadly" storm that is barreling toward Florida.