The page you are looking for is temporarily unavailable.
Please try again later

Money Lagarde Sees Darker Clouds Over World Economy After G-7 Tiff

19:36  12 june  2018
19:36  12 june  2018 Source:   msn.com

Argentina agrees to $50 billion IMF loan

  Argentina agrees to $50 billion IMF loan Inflation has hit 25 percent, the Argentine peso has lost about 20 percent of its value against the US dollar, and the federal budget is in deficit. The government hopes the IMF loan will get the country back on track. Argentina and the International Monetary Fund (IMF) on Thursday agreed on a $50 billion (€42 billion) stand-by loan in a bid to bolster the country's public finances and aid to its struggling economy.South America's third-largest economy intends to use the loan, which still requires the IMF executive board's approval, to try to balance the budget by 2020 and reduce inflation to single-digits by 2021.

The “ darkest cloud ” on the economic horizon is the “determination of some to actually rock the system that has actually presided over the trade relationships that we have all undertaken and enjoyed to some extent over the last many decades,” said Lagarde . She was speaking on a panel with world leaders

The “ darkest cloud ” on the economic horizon is the “determination of some to actually rock the system that has actually presided over the trade relationships that we have all undertaken and enjoyed to some extent over the last many decades,” said Lagarde . She was speaking on a panel with world leaders

IMF Managing Director Christine Lagarde.© REUTERS/Michele Tantussi IMF Managing Director Christine Lagarde. IMF Managing Director Christine Lagarde said the risks to the global economy are rising as major industrial nations sharpen threats of a trade war.

“The clouds on the horizon that we have signalled about six months ago are getting darker by the day - and, I was going to say, by the weekend,” Lagarde said at a news conference in Berlin on Monday.

Her remarks follow a chaotic two-day meeting of the Group of Seven in which President Donald Trump shocked fellow leaders with his disregard for U.S. allies. After leaving the summit early, Trump tweeted he was pulling U.S. support from a joint statement and he accused the host, Canadian Prime Minister Justin Trudeau, of being weak and dishonest.

'More utes' sign of a strong economy: Treasurer

  'More utes' sign of a strong economy: Treasurer The Federal Treasurer says tradespeople and their utes are part of the reason the economy is continuing to grow, despite households spending less than the last quarter. New figures from the Australian Bureau of Statistics show the economy grew by one percent to March.While household spending grew by 0.3 percent, Treasurer Scott Morrison says that was largely due to spending on energy bills and furniture. © Provided by Nine Digital Pty Ltd Scott Morrison has welcomed new figures showing the Australian economy grew in the past quarter.

The “ darkest cloud ” on the economic horizon is the “determination of some to actually rock the system that has actually presided over the trade relationships that we have all undertaken and enjoyed to some extent over the last many decades,” said Lagarde . She was speaking on a panel with world leaders

The threat of trade protectionism is the biggest concern looming over a solid upswing in the global economy , IMF Managing Director Christine Lagarde said.

Other G-7 countries lobbied unsuccessfully at the summit for the U.S. to reverse new tariffs on imported steel and aluminum imports. Trump turned the tables by challenging world leaders to eliminate all trade barriers, tariffs and subsidies and he threatened to stop trading with them entirely.

Germany and France, who are also part of the G-7, criticized Trump for withdrawing his support, and were joined by the U.K. in reiterating their backing of the communique.

a man wearing a suit and tie: Group of Seven (G7) Leaders Summit© Bloomberg Group of Seven (G7) Leaders Summit Damaging Impact

Lagarde’s concerns were echoed by World Trade Organization Director-General Roberto Azevedo, who said growing trade frictions could cause serious damage to the world economy.

“The rising trade tensions that we see before us, they risk a major economic impact, undermining the strongest sustainable period of trade growth since the financial crisis,” Azevedo said at the Berlin meeting. “We must, therefore, stop this escalation of tensions. A tit-for-tat process is not going to be helpful. It’s not going to help anyone.”

Geoengineering: The quick, and potentially catastrophic, fix for climate change

  Geoengineering: The quick, and potentially catastrophic, fix for climate change Geoengineering solutions to climate change sound like magic, but a leading proponent says most people working on climate change dare not speak its name.Pumping aerosols into the upper atmosphere to make clouds more reflective, for example. Or fertilizing oceans with iron to promote the growth of plankton and algae so they consume more carbon dioxide.

Priyanka Chopra apologizes after backlash over Quantico storyline. THE GLOBAL economy has peaked and a downturn in 2018 is inevitable according to a new index and the IMF’s Christine Lagarde who has warned of an “inexcusable, collective policy failure”.

Photo: Alex Wong/Getty Images . World financial leaders sounded a sour note on the global economy on Thursday, pointing IMF Managing Director Christine Lagarde signaled policymakers' heightened fears that a "Brexit" could derail Europe's shaky economic recovery and reverberate further afield.

Lagarde with Justin Trudeau in La Malbaie, Quebec on June 9.

Lagarde, who attended the summit in Quebec, didn’t mention Trump by name. Her warnings about the risks of protectionism have grown more pointed in recent weeks, as the Trump administration has imposed more tariffs and threatened others, including against China.

On Monday, she said the “biggest and darkest cloud” over the global economy is the risk of a deterioration of confidence “by attempts to challenge the way in which trade has been conducted, in which relationships have been handled, and the way in which multilateral organizations have been operating.”

The fund projects the global economy will grow 3.9 percent this year and next, the fastest pace since 2011. Beyond that horizon, it’s more pessimistic, predicting growth will weaken as central banks raise interest rates, U.S. fiscal stimulus fades and China’s gradual slowdown continues.

Debra Messing reveals she was duped into doing a nude scene in A Walk In The Clouds by producers before being insulted by the director

  Debra Messing reveals she was duped into doing a nude scene in A Walk In The Clouds by producers before being insulted by the director It was her big break, a role opposite Keanu Reeves in the 1995 Alfonso Arau-directed World War II movie A Walk In The clouds. But there is one aspect of her first major Hollywood gig that Debra Messing still feels uneasy about - being duped and pressured into going nude for the role - as the actress explained during a round table for The Hollywood Reporter.

BERLIN (Reuters) – The clouds over the global economy have darkened , especially since the divisive summit of leaders from the Group of Seven economic powers at the weekend, International Monetary Fund Managing Director Christine Lagarde said on Monday.

The threat of trade protectionism is the biggest concern looming over a solid upswing in the global economy , IMF Managing Director Christine Lagarde said. The “ darkest cloud ” on the economic horizon is the “determination of some to actually rock the system that has actually presided over the

a screenshot of a cell phone: Solid Growth© Bloomberg Solid Growth

Asked about the U.S.’s backsliding into protectionist trade policies, Lagarde recalled comments from Supreme Court Justice Ruth Bader Ginsburg. “She was asked, after more than 50 years of marriage, what was the secret of her marriage? And she said this: It helps being a little bit deaf on occasions,” Lagarde said.

The International Monetary Fund, which has 189 member countries, was conceived during the Second World War to oversee the international monetary system and promote open-market policies that drive growth. The U.S. is the fund’s biggest shareholder.

Qantas warns higher fares on the way as oil spike hits airlines .
"While fuel's gone up and there will be some increases in order for us to recover that, consumer have never had it this good," Alan Joyce said.Qantas boss Alan Joyce says Australians should expect to pay higher airfares off the back of increasing oil prices but has assured customers he is taking other steps to absorb some of the cost increases.

—   Share news in the SOC. Networks
This is interesting!