Rolling coverage of the latest economic and financial news Price of oil could spike after Iran’s parliament votes to close key shipping route Analysts at RBC Capital Markets say there…
Pakistan hikes its defence budget by 20 percent after border clashes with India, economy remains reliant on IMF loans.
In its annual health-check for the UK economy, the IMF predicted growth of 1.2%, a marginal upgrade to its previous forecast.
Global financial institutions meet as turmoil brings fears worldwide.
Treasury Secretary Scott Bessent argued in a speech that the multilateral economic institutions have veered away from their missions.
The influential financial agency is projecting slower economic growth in the US due to uncertainty around President Trump’s tariffs.
But the IMF also sees UK inflation going up as bills rise, while economies will be hit by Trump tariffs.
Economists recently echoed concerns of global financial uncertainty and say a recession is more likely.
The International Monetary Fund expects slower growth and higher inflation in the U.S. as a result of President Trump’s trade policies.
The International Monetary Fund says the US will be hardest hit by its own increased tariffs, which the organisation says is the biggest upheaval to global trade in 80 years.
