International Monetary Fund (IMF)

The eternally optimistic IMF
(May 6): In April 2018, the International Monetary Fund projected that the world economy would grow robustly, at just above 3.9% that year and into 2019. The global upswing, the fund said, had become “broader and stronger.” That view quickly proved too rosy. In 2018, the world economy grew only 3.6%. And in its just-released update, IMF recognises that the ongoing slowdown will push global ...
Globalisation needs an upgraded operating system
SINGAPORE (Apr 15): The G20 Leaders’ Summit in London on April 2, 2009, is widely regarded as one of the best examples of global cooperation in a generation. Meeting as a group for only the second time, leaders of the world’s top economies, accounting for some 85% of global GDP, agreed to provide US$5 trillion in fiscal stimulus and US$1 trillion in additional resources to the International ...
Time for a true global currency
SINGAPORE (April 15): This year, the world commemorates the anniversaries of two key events in the development of the global monetary system. The first is the creation of the International Monetary Fund at the Bretton Woods conference 75 years ago. The second is the advent, 50 years ago, of the Special Drawing Right (SDR), the IMF’s global reserve asset. When it introduced the SDR, IMF hoped ...
Central banks turn dovish as IMF urges to 'do no harm'
SINGAPORE (Apr 15): Major central banks around the world have maintained a dovish stance, in line with a softer growth outlook by the International Monetary Fund. In its latest World Economic Outlook on April 9, the IMF lowered its growth forecast for 2019 to 3.3%, from 3.5% previously. This is the third time in six months that the fund has trimmed its outlook. The IMF cautioned that ...
IMF cuts global growth outlook, cites trade war and weak Europe
DAVOS, Switzerland (Jan 21): The International Monetary Fund on Monday cut its world economic growth forecasts for 2019 and 2020, due to weakness in Europe and some emerging markets, and said failure to resolve trade tensions could further destabilise a slowing global economy. In its second downgrade in three months, the global lender also cited a bigger-than-expected slowdown in China’s ...
How Singapore's projected 2.6% salary increase for 2019 fare against global peers
SINGAPORE (Nov 22): After factoring in higher inflation of 1.4% as predicted by the International Monetary Fund (IMF), the average Singaporean employee is expected to see a real salary increase of 2.6% in 2019 – down from the 2.9% increase received in 2018 and slightly below the Asia Pacific average of 2.7%. Notwithstanding inflation, Singaporeans will see their salaries increase by 4% next ...
WTO, IMF, World Bank seek ‘urgent' international trade reforms
(Oct 1): The World Trade Organization, International Monetary Fund and World Bank issued an emergency call to reform the multilateral trading system as the US retreats from prior agreements. "The urgent challenge today is to harness the unique strength of the WTO," the bodies said Sunday in a joint report. "The slow pace of reforms since the early 2000s, fundamental changes in a more ...
Singapore to undergo IMF’s financial sector assessment programme
SINGAPORE (Aug 1): The Monetary Authority of Singapore (MAS) announced today that Singapore will undergo the International Monetary Fund (IMF)’s Financial Sector Assessment Programme (FSAP) this year. The programme will assess the resilience of Singapore’s financial sector, the quality of MAS’s regulatory framework and supervision, and capacity of authorities to manage and resolve ...
IMF warns of rising threats to global financial system
WASHINGTON (Apr 19): Threats to the global financial system are rising, with the price of risky assets surging in a manner reminiscent of the years before the global financial crisis, the International Monetary Fund warned. Downside risks to world financial stability have increased “somewhat” over the past six months, the IMF said Wednesday in the latest edition of its Global Financial ...
Spackman’s next major film is on…The Asian Financial Crisis
SINGAPORE (Sept 4): Spackman Entertainment Group, the Korean production group, today announced that the next major film by wholly owned subsidiary, Zip Cinema, will be Sovereign Default. Sovereign Default is a historical financial thriller depicting the behind‐the‐scenes story of the tumultuous week leading up to the rescue package agreed upon between the International Monetary Fund (IMF) ...