“The companies have been suffering for more than a year, look at the average level of consumption in Europe – businesses are not developing, they are just trying to survive,” said Hosni Boufaden, president of the FTTH.
The IMF was working with the World Bank and other institutions to move forward on its $50 billion plan to end the pandemic, she said, arguing that quicker progress could result in trillions of dollars of added global economic output.
Higher U.S.
interest rates, in turn, could lead to a sharp tightening of global financial conditions and significant capital outflows from emerging and developing economies, IMF Managing Director Kristalina Georgieva said in a blog published Wednesday with the IMF’s surveillance note for G20 countries.
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economic recovery “was generally seen as not having yet been met,” but agreed they should be poised to act if inflation or other risks materialised, according to the minutes of the central bank’s June policy meeting.
Georgieva repeated her call for urgent action by the G20 countries to accelerate vaccinations to high-risk populations, warning of a “worsening two-track recovery” that is leaving a large number of countries behind while the United States, China, the euro area and a few others are recovering quickly.
inflation risks comes amid sharp criticism by Republican lawmakers of President Joe Biden’s multi-trillion-dollar plans to boost spending on infrastructure, child care, community college tuition and expanded coverage of home care for the elderly and disabled.
“We understand, at the start of this campaign, that for us to be able to be really competitive and achieve our goals we need to hang our hat on the defensive end, especially against an athletic team like the United States,” Mills told NBC.
In countries where the recovery was accelerating, such as the United States, it would be “essential” to avoid overreacting to transitory increases in inflation, Georgieva said. (Reporting by Andrea Shalal; Editing by Leslie Adler)
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The IMF said the global economic outlook remained uncertain given questions about the evolution of the pandemic and progress on vaccinations, as well as the possibility that the pickup in inflation would prove “more persistent” than expected.
July 13 (Reuters) – Patty Mills led Australia to a 91-83 win over the United States in an exhibition game on Monday but said the ‘Boomers’ still have a long way to go as they chase a first Olympic men’s basketball medal.
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WASHINGTON, July 7 (Reuters) – The International Monetary Fund on Wednesday said further fiscal support in the United States could fuel inflationary pressures and warned that the risk of a sustained rise in prices could require raising interest rates earlier-than-expected.
Former President Donald Trump’s blog has vanished from his official website and won’t be returning, CNBC reported Wednesday. The blog, which he used to share statements after being banned by social media sites like Facebook and Twitter, launched last month.
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