35 Burst results for "IMF"
El Salvador Will Use Volcanic Energy to Mine Bitcoin
"El salvador has moved more quickly than anyone thought possible to make. Bitcoin legal tender with more when president naib kelly jumped on nick. Carter's twitter space on tuesday. Someone asked him about bitcoin mining. I think it was actually alex. Gradstein that prompted president kelly to speculate about the potential for bitcoin mining powered by geothermal energy from volcanoes while by the next morning he had initiated a project around exactly that and the ceo of the largest north american minor was up in his comments asking about getting involved. The net of all of this. Was that the possibility of a new mainstream. Narrative of bitcoins capacity for economic empowerment has captured. The imagination of bitcoin is the world over but of course this wouldn't be bitcoin without some controversy and strive to go with it last night. I jokingly said that today's episode is going to have to be called the empire strikes back and this wasn't in reference specifically to the global powers that be getting up el salvador's craw about bitcoin although there is a meeting with the imf today that could provide some insight into their initial reaction to the move in fact as i was prepping. The show preemptive comments from the m. f. came out jerry rice and imf spokesperson said quote adoption of. Bitcoin is legal. Tender raises a number of macroeconomic financial and legal issues. That require careful analysis. Which i mean isn't surprising. Of course they were going to say this. And i'm not overly concerned yet. Instead the empire strikes back comment was about a string of established powers. Ratcheting up their rhetorical and real attacks on bitcoin and crypto at large. Let's head first to china as this is a story that's already started and that has seen some significant developments this week. There was action by two provinces against mining in xinjiang. The local government issued a notice to shutdown crypto mining activities. The shutdown was immediate. Taking place yesterday. On june ninth and the specific focus was on the economic technology development park. This is a fifteen thousand five hundred square kilometer area that houses a number of different coal powered industries
El Salvador Makes Bitcoin Legal Tender in World First
"Talks with the leader of El Salvador neighbor Kelly after his country became the first in the world to make Bitcoin legal tender. There are fears the move could threaten a long plant IMF program.
IMF Upgrades Forecast for 2021 Global Growth to a Record 6%
"The i m upgraded. Its jd db forecast to predict it the best global growth in four decades. That's not a bad way to start the presentation. The has predicted the lightest numbers in its world economic outlook. It lifted its twenty twenty. One world growth j. p. forecast to six percent from five point five in his as january. Is she the full cost of the. Us growth was lifted to six point. Four percent from five point one percent previously and china two point four percent from eight point one percent and the forecast restrain. Gdp growth was increased to four point. Five percent up from three point. Five percent the outward revisions reflect additional fiscal support in some large economies. The anticipated vaccine driven recovery in the second half of two thousand twenty one and the knowing adoption of economic activity in the face of mobility restrictions. As we move out we get to be out of spain and that moves the economy forward
Reconstruction: Australia after COVID
"Australia's economic recovery in the wake of the pandemic. Well we all know. Australia has weathered the pandemic bit of the most nations. It's been five months since the last reported virus related death and several months since any serious community transmission. It's quite extraordinary. Isn't it in coming. Wakes the most vulnerable. Australians will have been vaccinated on april. Nineteen this news. This week there will be reopening of the trans tasman travel route although they remind risks and uncertainties it's fate aside that the pandemic is pretty much forced drawings. But what does all this main for the economy. John edwards is a senior fellow of the lowy institute and a former member of the board. His new book is called reconstruction australia covered. It's published by the low institute. Get i john. Welcome back to the shy unpleasant to be on for the past year. We've been told we face the most terrifying economic conditions for generations yet australia. You think about it. The unemployment rights less than six percent the stock market is within a few percent of its high level and according to the imf this week international monetary fund australia is poised to grow at its fastest pace in twenty two years. It's four point five percent this year. Indeed we are among the world's standout performance in the recovery from last year's covid recession john. What accounts for our economic resilience. Well first of all. I think we handle the health trip. Caught will lettuce. We responded promptly. We put in social distancing. We prepared our health system for a bigger emergency than one. We presumably and australians will comply with the health guam. So that's that's important that we we contained the pandemic tilting but on the economic side. I think we also risk owner will be response in monetary policy the reserve bank and a very big response from fiscal policy treasurer and the morrison government.
IMF Expects World Economy to Expand 6% For 2021
"International Monetary Fund says the rollout of vaccines and vast sums of government aid in the United States will accelerate the global economic growth to a record high this year in a Powerful rebound from the pandemic recession with 190 country lending agency said Tuesday it expects the world economy to expand a 6% for 2021. That's up from the 5.5. It forecast and Just January.
IMF: 6% global economic growth ahead
"International monetary fund has that prediction. It's upped its forecast of global economic growth. This year to six percent. That will be the fastest growth in decades next year. The imf predicts near four and a half percent growth. The rebound is not expected to be uniform. It's forecast to be slower for poor countries. Those heavily reliant on
IMF lifts global growth forecast for 2021 to 6%
"Forecast for this year and next citing stimulus spending by the us and other rich nations as well as ramped up covid nineteen vaccine rollouts. The imf today said it expects the world economy to grow by six percent in two thousand and twenty one and then slow next year the us and china driving the recovery. The imf projects that the economy will grow six point four percent this year and regain its pre pandemic size. China's economy is expected to expand eight point four percent and us and iranian officials began indirect
IMF Upgrades Forecast for 2021 Global Growth to a Record 6%
"A new International Monetary Fund report foresees appeared of global economic growth ahead the IMF says the rollout of coded nineteen vaccines involve sums of government aid will this year kickstart growth to a record high in the powerful rebound from the pandemic recession the one hundred ninety country lending agency says it expects the world economy to expand by six percent in twenty twenty one up from the five point five it did full cost in January it would be the fastest expansion for the global economy in IMF records dating back to nineteen eighty I am F. chief economist Gita Gopinath told reporters a way out of this health and economic crises is increasingly visible I'm Charles through this month
There is a Surge Of Coronavirus Deaths in Mexico
"New data reveal a surge of cova deaths in mexico. The country has officially confirmed more than two million cases. An almost one hundred eighty thousand deaths from the corona virus but mortality rates. Tell an even more grim tale over the past year deaths were fifty two percent higher than in previous years. According to the financial times that puts mexico's rate of excess deaths much higher than that of countries such as america and brazil assembled woman to stay lot yet earlier this month. Mexico's president andres manuel. Lopez obrador widely known as anglo said. We are living in a stellar moment. The kovic spike is far from the country's only problem poverty. Corruption and crime are all on the rise but polls indicate that two years into amyloid term. Most mexicans are willing to give him more time. Mexico's president is incredibly popular. Sir burke is our mexico bureau chief he wanted on slide in two thousand eighteen and he still has approval ratings that most other leaders would be extremely jealous off at sixty two percent as it stands and that's all in spite of what looks like a very good handling of most things most obviously at the moment the pandemic. What do you mean by that. Mexico is a terrible record for covert hospitals are full and oxygen tanks in short supply. It's done very few tests for covid. It hasn't provided very much financial support tool for people who are suffering or being asked to stay home not to work the vaccination which is one sort of bright spot potentially insofar as mexico has lined up enough vaccines to cover its population. But it's a very very slow start. That might be picking up now. But otherwise there talks of ten years to get to seventy five percent of the population being vaccinated. I'm currently this has been a problem again from the top. So i'm low has completely downplayed the importance of the pandemic. He has refused to wear a face mask apart from wants when he flew in an airplane to go to the united states and he got covid himself the stars of this year and he reappeared and everyone thought well. Maybe he'll have changed his mind after this. But he reiterated again that he wouldn't be wearing a face mask so in the face of that pandemic response on wires his popularity still so high so he had this amazing vision for mexico in eighteen. Which is why he won with a landslide. He said. I'm going to do a fourth transformation. These big bold plan to make the country fairer and more equitable ending corruption and crime. And making sure there was economic growth where the gains were fairly distributed so that poor people go rich. The reality is slightly different from the vision so far in the two and a bit years. He's been in power. He's been undoing. The reforms of previous presidents and dismantling that system throwing out the baby with the bath water you could say. And then his new initiatives mainly they seem to fail to solve the problems that they put two and then a of third element is that he's really concentrated power in the presidency and some people say that they get things done and other people think they're more evil intentions behind that well. Let's come back to the throwing the baby out with the bathwater part. What's he'd been doing. In terms of reform he abolished prosper. Which was a very sort of lauded conditional cash transfer program for the poor he also reversed education. Reform was much more meritocratic assessment of teachers. A big one at the moment is he's trying to reverse bit by bit and opening of the energy market. That happened in two thousand thirteen so it was open to private and foreign enterprises which make electricity cheaper and greener on current. Neither congress is debating a bill which would favor cfe which is state owned electricity provider. So they're actually go first into the grid. As opposed to the cheaper electric which is often green provided by private companies. This would obviously raise prices and deti energy but it could also breach the. Us mexico canada agreement. Which is the north american free trade pact to replace after another sort of big thing has been getting rid of or proposing get rid of a lot of the autonomous agencies such as the freedom of information agency all these ones keep checks on the government and what it's doing so well he's been tearing all that down. What's he been building up. Will you say his own initiatives. Don't do what they should. He's very dedicated to fiscal discipline. That's a good thing especially in a so-called left leaning president it's also become very counter productive during the pandemic. The imf is telling mexico to spend more so far it's only spent nine point seven percents of gdp on extra efforts during the pandemic and more needs to be done and some people think this is going to need to scarring that there's going to be permanent drop in output caused by loss of jobs and businesses so the recovery is going to be much much slower in mexico than elsewhere. He's also splashed out on bizarre old-economy projects such as pouring money. Pex the world's most indebted oil company. And then he's putting eight billion dollars into a refinery at the time when no other country is building refineries and it's not clear what economic return that will be from that and you mentioned the big transformative plan was in part about ending endemic corruption and crime. How's that been going. Well either jason. That was point. Four percent dip in murders last year and he proclaimed this dip as a very significant success. But that's after a rise the before and frankly during the pandemic you'd expect it to have dropped them. In in other countries across latin america that also suffer high levels of violence that has been the case he also rejected the previous government's tactic of killing and capturing crime kingpins because led to a splintering of gangs. And you might be worth rejecting that. But there's no alternative puts in place. So i think his vision is that you alleviate poverty and crime goes down. That might happen in the long term but it does nothing to sort out the short term problem the problem of the current chapel as opposed to the ones who are still only three years old on corruption. As you could say he's set a good example so has been good political rhetoric. The stiffer penalties on bribe-taking for bureaucrats. But he's unless strengthen the institutions to carry that ford again it's more rhetoric than actual institutional change or heft. The national anticorruption prosecutors overwhelmed with cases and one government agency suggests that the number of acts of corruption actually rose by nineteen percent between two thousand seventeen and two thousand nineteen. It is as you say not a big list of happy news here. I mean when will that's ring down to the electorate. I mean how long we'll mexicans continue to support him for his failures because he really has persuaded a lot of people that he's like them and cares about the he's very popular because of who he is and his message rather than necessarily what he does. The opposition is seen as corrupt on what came before him was horrifically corrupt. And so he's seen the best of a bad bunch by a loss of people. But you know here's a classic populace and a lot of elite azam Against him they see him as a mexican version of hugo chavez. Which i think is a little bit of an exaggeration. But there's this big divides on the mix of policy failure. I'm power grabbing is is worrying.
Houston boil water notice lifted, but other areas in SE Texas not yet clear
"I'm Joe Chiro. Fox News, the city of Houston's lifting its boil water notice that's been in effect since Wednesday, following last week's freezing weather that really encompasses millions and millions of customers. So bad is moving in the right direction. Although I can tell you that million's Maura still have no safe drinking water, and so they're still asked to boil it because there, try to rig make repairs to the IMF. Structure As Texans start to thaw out nine million more bottles of water are on their
South Africa halts AstraZeneca vaccine rollout
"South africa has halted its rollout of the oxford astrazeneca vaccine just a week after the country received. Its first million doses. It seems the vaccine offers limited protection against a new variant of the corona virus. That's now dominant in the country. Salim abdul karim co-chair of south africa's ministerial advisory committee on covid nineteen spoke to a world health organization briefing yesterday. We don't want to end up with a situation where we vaccinated million people too. Many people would have vaccine that may not be effective in preventing hospitalization and severe disease in total more than one point. Two billion corona virus doses have been allocated for the continent. But it's not clear when all those jobs will arrive. The longer any region remains unvaccinated. The greater the chance that more variants arise vaccines though can be tweaked in a formulation of the oxford vaccine targeted at the south african variant could be going into arms by autumn. What scientists cannot address is the long run damage to africa both in human and economic terms so far continent to have been spared from the worst case scenarios predicted early on in the pandemic but the longer term picture remains bleak many ways the impact of the pandemic and africa is worse than it appears on the surface around the official numbers. Kenley salmon is one of our africa correspondent based in dakar. It is the case that having a young population has to some extent protected the continent from the virus africans and died from it that americans europeans but the true scott of infection. Death is really hard to gauge. Studying sudan recently showed the perhaps only two percent of all the covid desk for a quoted in the official tally and the economic impact is worse than it looks last year. The region's economy shrank for the first time. In twenty five years tourism has been badly hit as have commodity exporters things like oil in nigeria and taken together. Gdp per capita fell below twenty ten levels last year so things are perhaps not quite as bad as some other parts the world but certainly still very tough and things may get tougher house. What are the particular challenges to africa. Africa faces quite a number of challenges in the next few years as it tries to recover from the pandemic but the biggest i of the really is vaccines. Some african governments have perhaps failed to grasp the urgency of the situation in tanzania for example the populace president john food even casually cast out with a vaccine work but i do forgive aside claiming the postman precautions such as steaming nation were better than vaccines and even added that if the white man was able to come up with next nations then. Vaccinations for aids. Malaria and cancer would have already been found. So it's not so much a question than of supply. I mean given that quite a few vaccines have been essentially booked at the stage. A number of vaccines have been booked but the big question is when will they arrive because right now there aren't anywhere near the number of axes required forever on in the world and rich countries are of course the front of the queue for those vaccines have been produced africa's going to need perhaps two point six billion doses to vaccinate everyone and those are not being made locally so they have to rely on supplies elsewhere for the moment so that means joining the queue. All this means that whereas rich countries aim to vaccinate most of their people by the middle of this year the african. cdc a public health. Bali in africa's aiming for sixty percent of africans to vaccinated by the end of next year. But even that may be too optimistic. For the poorest countries. The economist intelligence unit sister organization estimates that in most african countries most people will not be inoculated until mid twenty twenty three or even early twenty twenty four and there must be serious consequences of it being that long until the continent is on average vaccinated. Africa is likely. It doesn't get those vaccinations into suffer. Further waves of the infection while after the disease may have amped in the rich world. And that of course will cause more death and more suffering. Doesn't risk that. Having the virus transmitting between people frequently africa could allow new variance to evolve. We've already got the south. African variant and these new variants could endanger people even in rich countries if they prove to be resistant to vaccines and then finally of course not having vaccines could force. African policymakers to continue with these very difficult economic lockdowns curfews even after many other countries around the world set free of those kinds of restrictions and if the public health concern lasts that long then surely the economic concerns will last at least that long. That's right in many african countries facing pretty severe crises at the moment just getting finance to pay their bills. Africa has very limited fiscal space on average countries in sub saharan africa. Spending more than thirty cents on every dollar. They raise and text revenue paying their debts. And that's up from twenty cents on the dollar before the pandemic on the debt side to over half of low income sub saharan african countries are now classed as in distress or at high risk of distress. According to the imf and what about countries with bigger economies the two biggest economies in africa nigeria and south ever both in pretty deep trouble nigeria for example was described by the world. Bank is being an unprecedented crisis. Recently the bank is not normally quite so blunt in nigeria. There has been a legacy of management for a number of years and pandemics really accessible that quite badly. Now focused suggested by twenty twenty three. Gdp per capita may go back as low as it was in one thousand nine hundred eighty time when the oil price was some high on so africa too is in trouble that have been in recession twice in the last three years before the pandemic hit of course now is dribbling itself with a particularly heavy toll from the pandemic so both countries in fact are facing a difficult road out of the crisis. And what about outside help in terms of financing has been quite a bit of outside help although the crisis of course is very big but in twenty twenty the imf for example provided sixteen billion dollars in loans most of that came with relatively few strings attached and this help frigging countries to respond to the pandemic to avoid some of the liquidity crises that were looming the world bank also dispersed another ten billion but many countries got that funding to if the imf under emergency allocations that came quickly and relatively easily and those allocations for many countries will soon be exhausted. The rich world has been trying to help when it comes to debt. They've provided liquidity to countries through some bits of suspension initiative that basically allows poor countries to put off debt repayments until july. Twenty twenty one. This is of course helpful but the trouble is that those payments just suspended and they have to be paid back with interest in about five years time so as the chief economist for africa the world bank put it to us. It may just be kicking the can down the road to. How do you see this playing out. Then how high could the human cost of all this be while the stakes are pretty high. The pandemic has already done lower damage to people's health and africa. it's hitting their economic prospects and they wealth and it's also affecting education of course. Hundreds of millions of students in africa have been affected by school closures. This increases the risk of dropouts and reduces the prospects for africa's largest every generation so overall the costs here really quite significant. There are some reasons for optimism. We may see vaccine rollouts accelerate. There's also hopes that commodity price rises could give africa real boost as the global economy recovers been on balance. The evidence probably points to at pretty difficult road ahead with several more waves of the virus hitting already struggling health systems and perhaps a form of economic long covert in africa. So you know africans have come through this showing remarkable resilience but it may be toughest years are still to come in. Thank you very much for joining us. thank you
IMF: Vaccines will power 5.5% global economic growth in 2021
"Index had another pretty good day. What's the update Well past. The overall market was positive yesterday with the Dow Jones Total Market Index returning 0.3% for the day. And indeed NASDAQ that tech corn didn't index did well being a 0.7%. Two indexes lost ground. The Dow Jones industrial average is off 20.1% and the Russell 2000 Index of small company stocks gave up some recent gains. Following 20000.3% for the day, the S and P. 500, another popular benchmark was up almost 5000.4%. Investors are assessing how the economy and the markets will be affected by the changes in D. C. The path of the virus and the programs to distribute the vaccines. What are some specific areas for focusing on this week? Today we learned the IMF's world economic Outlook projects global GDP growth of 5.5 per se. Sent in 2021 tomorrow will see results of feds January meeting and Thursday we'll learn the first estimate of fourth quarter GDP and how the recovery is going that steeple earlier this month we
UN vital for peace and cooperation says Economic and Social Council head
"This is matt wells at un news. In a world facing famine major migration and conflict exacerbated by covid nineteen the un including its foundational body the economic and social council nanak is vital to promote global peace and cooperation. That's according to mugniyah cram pakistan's ambassador to the un who was elected ecosoc president in july. He said that urgent action needs to be taken out to meet the needs of developing countries. Otherwise we'll have a humanitarian disaster. On our hands he told you and uses lists graffiti but began the interview by explaining kazakhs overall role. The economic and social council is one of the three Principal organs are mentioned in the un charter. The general assembly the security council and the economic and social council. These are three made charter bodies and the concept of creating the economic and social council at the time of the birth of the united nations. Was that on the one side. The security council was conceived as an organ. Which would promote collective security and enforce peace in the world the economic and social council on the other hand was designed to promote peace through international economic cooperation. One of the framers of t. Un charter was the president of the united states. Mr roosevelt and his conception which voiced at the time was that economic instability was a disease and that if one country had it than others would be affected and that was the concept behind the creation of economic and social council to promote peace through international development cooperation so the charter says very clearly that the objective of the economic and social council is to promote better standards of living in larger freedoms. That is a quote from the un charter. And it's supposed to do that personally by addressing policy issues and secondly by promoting international cooperation and coordination among all international economic organizations that's the mandate and it's a mandate. Which is i believe. Just as important as the mandate of the un security comes. Can you share some examples. Cossacks work in new york that has had a global impact. Yes over the years. The economic and social council has been a place where the whole concept of development cooperation of helping developing countries to make progress and grow was conceived. So it was at the economic and social council that the first report which is called the pearson report on development cooperation was discussed and the whole idea of promoting economic and social development through mutual support between rich and poor countries was born here. Kazakh was the place where we conceive of what was then called the international development strategy. It is the place where the concept of official development assistance amounting to zero point. Seven percent of the gdp of developed countries to be provided to developing countries was born. It was an echo saw the concept of linking the creation of special drawing rights in the imf the quotas to link those quotas with development. Assistance these were all major ideas that were born india-kazakh and are now activist in major financial in international economic institutions. So it has been a central body for forward thinking and these are just some examples of what has been achieved in kazakh in the post.
Ireland to become the first European country to reimpose a national lockdown.
"What are the What are the headlines on the global scene mind on the Global Front Dave? Sorry air that the world has passed forty million cases. I. It's really a grim milestone with over a million deaths million one point, one, million deaths, and you're seeing the US fill top. The list you've been talking about surges in the United States with two way up to states way up about twenty six states still surging but on the global list. It's the US India Brazil Russia are topping the list, but you're seeing the European nations also with the majors with major surges. Ireland will be the first European Union country to return to an entire lockdown. The prime minister said, the nationwide stayed home orders affects schools are staying open, but only to workers can go. To work bars and restaurants are limited to take away or delivery take out I. everyone in the country's being asked to stay at home, and this is coming as you mentioned as in the United States, there's. the same issue, and this is all of it is coming when there's a triple hit, there's Kobe there's climate change. There's a severe global recession and they're all related. In large part to covid nineteen. Now, the IMF said this week that the world pandemic related recession will shrink the entire world economy by four point, five percent in two, thousand, twenty. So that's the worst since the Great Depression. So the combination of all of it and storms hitting. Hitting US states and hitting. International, areas they can't afford. It makes Corona Virus response much much more difficult. So in the United, States, eight million more people have have slipped into poverty and We saw that the food banks are are now in need in the United States so that the feeding America Food Bank organization said eight billion not million billion meals will be short. On I in the coming year and and that jobless claims are obviously up. So that is is much worse on a global scale two, hundred, seventy, million people don't know where their next meal is coming from. So it's It's it's it is the perfect storm.
Where Does Bitcoin Fit in the Global Reserve Currency Game?
"This is going to shake out how disruption manifest in real life is really hard to predict. But at this point, we do at least know what appear to be different paths that this thing could take if some sort of cryptographic. DIGITAL MONEY OUR future. So Andreas I'd like to throw this one to you to start us off. You've got privately issued. You know literally anybody can do it crypto currencies. You've got so-called corporal coins like the Libra, you've got national digital currencies like we see coming out of China, and then you've got things like bitcoin. So like what are kind of the attributes of these different things? What are the strengths and the weaknesses of each approach or perhaps I'll ask it a different way. What could actually work and what do we know won't Well I'd like to just take a brief that back and say you know even though the US has abused his position, the dollar, and even though there are a lot of contenders for the kind of multipronged geopolitical power structure that doesn't mean the US dollar is anywhere near losing his position as reserve currency in it may lose some of his control but the problem is that there is no good alternative in traditional currencies, not the not the. Ruble the politics. There are two fraud together. One likely contender is not a crypto currency or digital currency at all but is some form of synthetic currency built and managed by the International Monetary Fund's so some kind of SDR based synthetic basket currency that is constructed, which may or may not have a blockchain is kind of unnecessary. It would be a centralized currency that emerges to replace the dollar. But again, you know the IMF isn't an independent organization. Ezer and the problem is there's a vacuum right now in terms of something to replace the US dollar and so we might end up with a brief period where in fact, there are a number of competing monetary and payment systems because it's not just the reserve currency social, the payment system, the US dollar as reserve currency goes hand in hand with swift as the international wire transfer settlements and payment system and control of both gives the US. Enormous geopolitical power now, Europe and China have tried to build alternative versions of swift. So they can bypass controls. The US imposes unilaterally a great example of that would be the embargo on Iran, which Europe, and many other countries under the previous agreements have essentially allowed Iran to sell oil, and yet the US continues to maintain an embargo on his backed out of its treaty obligations. So in that particular case, there's a need for an alternative payment system. The payment system going hand in hand with the reserve currency actually gives us a hint as to the importance of blockchain's in this base, and because of blockchain is simultaneously a payment system and currency and the consensus rules govern both. Now, whether a nation states could make a central digital currency CDC, it's called whether corporates currency could survive or whether it would be some former crypto currency that emerges to fill that vacuum I mean that's a really loaded question and I don't think any of us can answer right now I think what's going to happen is we're going to simply end up in a world where there's a lot more fragmentation. Will Continue to work for some things. The you on and Euro will work. For other things. We'll be libra other corporate currencies that will be central bank digital currencies like digital yuan or digital euro. They'll be her tow currencies and we're going to enter a period of massive fragmentation where things are going to be complicated, and there's going to be more limited liquidity more complications in trade and more exchanges happening across all of these different forms. At. The beginning of this episode, we talked very briefly about how one of the sort of use cases of global reserve currency is to store value in some form other than the one that your government has control over, and we've seen this sort of throughout history with different episodes of heavy inflation hyperinflation in some cases where the money that people think they've saved and have simply goes down in value and can buy less effectively at the end of it that I think is really important part of this conversation and I have increasingly been thinking that. Lacking an alternative lacking a system that actually has neutrality Bilton as a base level assumption you're looking around for what's the best option of all of these bad options right because again, like using the US government's money as your reserve currency when you're in Zimbabwe will, that's much better than using Zimbabwe's hyper inflating currency. But on the other hand, the US is integrate situation either it's essentially the cleanest dirty shirt one of the things that I've really been curious about. With regards to the Central Bank digital currencies. As you said, so called CBD's is whether or not these could behave like a truly neutral system or whether we're just talking about taking the existing very slanted system, which is in favor of whichever country has sort of, as it's called the exorbitant privilege of being able to just essentially right blank checks that you don't have any money to backup, which then people use as their own form of savings in their local country. Whether that changes the equation here whether having something like Bitcoin that although it's neutral and available for use by everyone can't be influenced as we used to say a lot more, you can't hold a gun to the head of math, right? Like there's some protection that's built into that neutrality and I just wonder if that's something that we could ever see or that any government would ever allow to happen in a nationally issued central
Stimulus checks: Trump says no stimulus package ‘until after the election’
"Cancelling negotiations after meeting with Republican senators as saying there won't be a deal until after the election. He then Seemed to reverse course as somewhat and told lawmakers on Twitter to send him a package so he could send out a stimulus checks. The House Speaker Nancy Pelosi, agreeing with President Trump's original statement, saying, Yeah, there will be a deal after the election, but She says that President Trump will lose the election and that's why there will be a stimulus package. Fed Reserve chair Jerome Powell warning on Tuesday that a tentative recovery from the pandemic could falter unless the government supplies additional stimulus. That view also of well, that's the view also of the International Monetary Fund, the IMF managing director Kristalina Georgieva, telling CNBC. There is a huge disconnect right now between what the market is saying and the reality of the economy.
Boris Johnson wants to 'Build Back Greener'
"Know at the top of the show we heard how British Prime Minister Boris Johnson promised to build back greener, and it's have you that the International Monetary Fund subscribes to ahead of the annual meeting in Washington. This month the IMF told its member governments. They can create millions of jobs and boost recovery prospects if they use higher public investment to respond to the severe economic challenge posed by Corona virus well, actually brought he's a climate and energy reporter at Bloomberg News joins me now to discuss this. Actually what is a green recovery and why do economists think it's the right way out of the current recession. Typically economists are looking to be able to create jobs in times of recession, and it happens in two phases. After an immediate shock economists inject a lot of money into the system to be able to allow for rescue. So a lot of people will become conservative of won't go out and spend money or they may lose their job and may not be able to make the rent next month or the mortgage next month. and. So you need to do the rescue. I what comes after that is once the economy starts to get out of the bottom and needs to go up. That's recovery comes in and what economists find is that for about every million dollars that a public money that is spent you can create between two and ten jobs. In the infrastructure space and that is why IMF has come out with the statement. This week saying that if government spend a lot of money on infrastructure than they are going to create a lot of jobs and a lot of jobs good for the economy Chris here is that they wanted to be green infrastructure because we want a lot of green infrastructure going forward. Are Any countries actually doing this. They are what happened early on is that we had to wait to get a signal from these countries to understand whether they've moved on from the rescue as into recovery. When the earliest countries to do it was Germany Germany put out a one hundred, thirty billion euro package that was all tied to green infrastructure. So renewable electricity, clean hydrogen subsidies for electric vehicles, EV charging networks and this has been then followed up by the EU which has put five hundred billion euros. Now, we're going to expect that as you talked about Boris Johnson that will expect some of that money coming through in the UK as well, and if Joe Biden President, he has a promised that he will push for green recovery in the US. What. Then would agree in recovery look like. So in in. Principle the thing that has changed from the last financial crisis is that this time around alternatives to fossil fuels are actually cheaper and governments will used the money that they have in hand to be able to spend that money into projects like renewable energy. But also things that we've probably not spend money on for a long time but we. Should be so that would be either repairing roads and bridges are really retrofitting homes with more energy. Efficient windows are ceilings so that you can reduce your energy bills, these old sound set of boring things, but they are really important to be able to cut emissions, but also bring in lots and lots of jobs, and that's exactly what we need right now Just cookie on Boris's bars Johnson's plan. How realistic is that? It's it's very realistic. So one of the things that has changed you know the big promise he has made is about building lots and lots of off-shore wind turbines. Offshore Wind was considered extremely expensive probably ten years ago and it's It's prices have come down and it's costs down really rapidly partially because we've been subsidizing subsidizing here in the UK. But also generally across Europe the deployment of these technologies and what we. Know again from economists, is that new technologies follow something called a learning curve for every doubling off the amount of the technology deployed out in the field you get a certain reduction in cost, and so the foster deploy it, the foster costs fall and what bars Johnson has recognized is offshore wind is now ready for the big time
IMF chief says world economy faces long ascent from Covid crisis
"The calamity caused about the pandemic is far from over and has urged governments not to withdraw support for their economies to quickly. Butters Andrew Walker reports. The head of the IMF Kristalina Gogi ever also expect some positive developments. In his speech, the IMF managing director said that the agency's new forecasts to be released next week will show a small favorable revision. That the economic damage caused by the pandemic has been slightly less than previously feared. But, she says that reflects extraordinary policy measures. We should not be reversed prematurely. If they are what she called the long ascent could become a precipitous fall. The World Trade Organization also report signs of a bounce back, which means the slump is likely to be less severe than it previously thought. Of the opposition in Kyrgyzstan
"imf" Discussed on Global News Podcast
"So there's a crisis in emerging markets as a whole in Argentina's the one that is more exposed than any other country. So by speeding up the payments from the IMF loan at hopes to just bring some calm to the markets now and deal with its problems later, meanwhile, for ordinary Argentinians who have to suffer the public spending cuts that come with these IMF loans, it's not going to be an easy year, is it? Well, it hasn't been an easier because a few things are happening in Tina. We should making it quite hard for everyone. One thing this government promised to tackle inflation and to bring down inflation. It hasn't been able to do so. So the. Cost of living is getting very expensive in Argentina, and with the spending cuts, the many firms and specially government offices haven't been able to give wage increases to work there. So that's one part of the problem. The other part of the problems that Argentina is used to be in the past, what they call it a dollar is that Konami. So a lot of goods and services are paid in dollars in Argentina, or at least are valid in dollar and the Argentine currency is getting weaker as well. So Argentine is our poor by international standards are and even by their own national standards in their own currency. Daniel Gallas a foam of vice president of football's world governing body fever has been sentenced to nine years in jail for his part in a huge corruption scandal are America's editor Russia. Tell me more about the form of fee for official his from Paraguay one. Hell, not put. He was vice president of fever, but he was also the the president of common bowl, which is the South American football. Confrontation. He was a very powerful person, his sixty years old now and the three years ago, he was suddenly arrested at the hotel with other officials in Surrey in Switzerland extradited to the United States. He paid ten million dollars in bail and the convicted last year and sentenced and by a federal judge in New York in why the United States the American prosecutors lead this investigation because a lot of that money was put into American Bank accounts. That's why they tried to hide an loan, the money, and that's why he's being sentenced there. Last week we had the head of the Brazilian confederation, former head of the Brazilian confederation, who was sentenced to four years in jail, and this is by far away from being the end of this whole crisis isn't. It is much larger corruptions. Got, yeah, there were about forty more than forty. People in institutions were charged by a US prosecutors, only three. I have been tried so far. These two that I mentioned in there was a Peruvian official who was acquitted last year as well. It is a huge scandal. If I give you some figures, it's the American prosecutors estimate there what two hundred million dollars paid in bribes. This person not put. He received twenty million dollars in bribes and that he was ordered to give back four point three million today. So it's huge amounts in what did they do? They were taking as as presence of the confederation's they won. They go, she hating with marketing companies rights to broadcast big events, big tournaments and marketing rights, and what taking a big cut of that President Trump has announced that the top lawyer at the White House, Don Mcgann will leave his position once overseeing the appointment of a new conservative supreme court. Judge in a tweet. Mr. Trump said he truly appreciated his service from Washington Guerrier Donahue reports Don Mcgann was one of the early recruits to the Trump. Campaign and has been closely involved in the negotiations with the special counsel. Robert Mueller who's investigating alleged collusion with Russia. He's reported to given at least thirty hours worth of interviews to Mr. Mola a fact that prompted the president claim that the White House had cooperated fully and was the most transparent in history. Mr. mcgann's departure has been trailed for some time that one report in the US media suggest President Trump's tweet hayman's something of a surprise to the White House counsel the United Nations. Human rights commission Zet around al-hussein leaves office on Thursday after four, sometimes turbulent years. And what's often described as the toughest job, the UN has to offer Zayd as he likes to be cold has been outspoken about the rise of right wing populism. An suggested. President Trump is a demagogue when Geneva correspondent imaging folks spoke to him..
"imf" Discussed on Bloomberg Radio New York
"Well this is news just in president of argentina said that the country is in discussions with the imf which as you know as lender of last resort for countries of balance of payments problems in argentina is suffering in this period of volatility affecting emerging markets also hit the russian south african currencies under pressure as well and you know the the story that we have is thirty billion credit line that's not confirmed by the imf but we have it for with the person with direct knowledge that would provide the the argentinians with the with the firepower that they would need to put protect their currency which has been under a lot of pressure in a couple of minutes we have left we do want wanna touch on the rap and one of the very first articles on this week's roundup is about why we should expect higher inflation and it is because our population is getting older why where's that going can connect those dots if i can continue the same so this is a little complicated but what the research should researches of donny's pulled down data going back to the nineteenth century and they found a very clear correlation between aging populations the level of dependence versus people who are working and inflation going back how far back to eighteen seventy that's a significant sample that is a significant samples of that's quite that that's quite an achievement and it's very interesting what's less clear is why that would be the case now they flick it that a little bit in the research and there's two things going on you've got a a political economy explanation if you like which is when you got more older people by favor lower inflation because they have to leave office savings and the degree to which that political sort of influence ways on the central bank the central bank may pursue policies that encourage inflation and then the other sort of story is it's more about the natural rate of interest in when you got lots of people that pushes the natural rate of interest and that also encourages inflation to rise airlines thirty seconds got a touch on this quick this bitcoin item quickly it.
"imf" Discussed on Dumb People Town
"Imf loans accent no accent yeah eleven wearing do you remember having him i never i never really had it because my mind dad has such a thick that it's such a thick accent that i think courage is kind of lay bill ride to not ever really thick southern accent my dad sounds like hank hill from god god jamie macomer in breakthrough car where worry inch in now i really chase funny she wrote a book about ruins israel we got one unscrambled box was where you want your on hbo heibloem our get over here read that way but she jamie rogue the machinists from montreal was hoping to prank snow removal crews in his neighborhood with a fake car he made after the storm on monday here's what i love the car he but he made it was the dolori in dmc 12 from back to the it is a gifted ice scott also made a fuss capacitor on the inside that you could not didn't have to it was eroded cell xing yes while sometimes you do jokes yourself on stay dallas muharem you always theo little extra like it has to be a little bit of realism derek really tricked people the kukhta girl for this man what is the real they wrote the real no no kucera there institute or kk saved marine corp and i say cooped declare ride it i'm saying that the way for it so the coop grow i was hoping you guys could chewed or coop digwa the coop degryse digress these was a real windshield wipers he had found across the street while working on the project plaisted inconspicuously as if it were the only exposed part of the car so they walk up.
"imf" Discussed on FT Alphachat
"Ending in of creditors and therefore this is what we do of course this has enormous distributional consequences because you shift adjustment burden from the balance sheets of creditor banks to the balance sheets of irish sovereign and so it's a tradeoff between long run financial sustainability in ireland versus presumed global financial stability and this wasn't discussion which was especially intense between must in full furnace parts of the imf and they see cb and also the commission the predominantly between the imf and the and in the end as we know the concerns about financial financial stability one out diva within the imf i think he would find people who were advocating the one solution versus the other so we'll never know if attorney would have worked very well or if it would have ended up in a significant financial volatility but have been in that case how difficult was it's take the decision on cyprus when these for me that was a landmark moment where the the euro area said what she we all grains palin senior bondholders banks in this in this kind of these kinds of crisis situations where affectively to banks console themselves anymore initially i think partly to g with the way that the results that discussions were presented maybe that was quite a lot of worry of quality in the markets but how that was going to play out but then thought then seem to become the template for what we did off to ever use the word there.
"imf" Discussed on Freakonomics
"Know uninformed perhaps wilfully so if all the experts say it it's a bad idea and yet let me ask you this given the long and very poor record of macro economic forecasting including a lot of very poor predictions from the imf along with everyone else does it perhaps make sense for the median worker or the median voter to distrust such predictions as brexit's supporters seemed to and look at them instead as you know less of an empirical forecast and more of a kind of wish list for the economic and policy elite this is the way we think the world should run but there doesn't seem to be necessarily a great track record of a predictive history or be managing the disenfranchised history i realize that was more of a cno than a question did not know us and in their have how well i know i'll try to address the question and then i'll go i'll i'll defend the institution on its forecasting attempts like everybody else's attempts which has you know forecasting is is not a mathematics science and is is more a nought than than something else although there is a huge effort on the part of our teams here to improve and refine but they are totally unpredictable events and there are things that we simply do not understand which are related to human human nature with behavior as the nobel jury as recently acknowledged by celebrating and acknowledging the contribution of behavioural economists but back to question which i think is really interesting one and we are really i want to comment as myself and not as representing the imf i am not sure that those economic issues actually muttered that much and you know at annan i'm not inventing anything or not being particularly in over two because of tried to understand on i've read a lot about what was happening in the uk or possibly the.
"imf" Discussed on Freakonomics
"Omically costly activities we've done presumably there might have been a lot less of that over the past century is well possibile the you know i used to think exactly along the lines of what you said uh until eventually i i heard than read about you know those first female terrorist and female only terrorists which was a big uh a big letdown to that theory that women are not attracted to violence well no rain at a rate exclusively male but no no you're right you're right yeah i mean even if you look at king's versus queen throughout history it does seem the term we men are you know a little bit more inclined at somewhere between a little in a lot more inclined to violence that's how they quite a few places where actually queens where hardly allowed except as as wife of the king the so that would reduce the pools from yahoo well and it's possible that the kind of queens who were allowed may have been necessarily warmongering queens to interesting let's talk moan about the relationship between the imf which is based in dc and the us federal government so a few years ago you complained or stated i should say that the us had not contributed to the imf s a fundraising although that since been rectified i understand but additionally the imf sp positions on trade and climate change and many other issues are almost diametrically opposed to many of president trump's positions you've said for instance that a quote you to yourself restricting trade uh is a clear case of economic malpractice so i'd love you to describe for me the interaction's or conversations you've had a with president trump or his administration about any of these issues you know what i say is very strongly based on rooted in a analysts this off facts off numbers all f growth improvement of economic circumstances productivity innovation and so on so forth and we all agree that.
"imf" Discussed on Freakonomics
"On for one low transparent fee betterment manages your money for you and invests it tax efficiently and for a limited time you can get up to one year manage free more at betterment dot com slash freak betterment rethink what your money can do we're speaking today with the managing director of the international monetary fund christine lagarde okay deco in two thousand sixteen she was appointed to his second fiveyear term it got off to a shaky start with the resolution of a legal issue dating back to her time in french government during the sarkozy administration the guard was accused of giving preferential treatment to a politically connected french businessman in a case it ended up leaving taxpayers on the hook for hundreds of millions of dollars finally she went on trial taking leave from the imf and she was found negligent by the court but she wasn't find or given jail time nor was there any accusation that lagarde had gained any personal benefit she went back to work at the imf with the full support of the board as well as world leaders a few months later her name was even floated as potential prime minister of france after emmanuel macron's election as president it is hard to imagine any kind of top tier shortlist anywhere in the world where the guards name would not appear she's considered fiercely intelligent principled but pragmatic a serious minded person with an impish sense of humor and an ability to make firm demands without bullying this balance has served her institution well the world is nearly forgotten that the imf sp previous managing director dominique strausskahn resigned after being charged with sexual assault of a housekeeper in new york city hotel when lagarde replaced him in two thousand eleven she became the first woman to lead the imf before that she was the french finance minister and before that chairperson of what was then the world's largest law firm baker and mckenzie the guard was the first woman in those jobs as well i'm guessing it gets tiring being asked questions about being the first something rather than questions about being the something itself.
"imf" Discussed on Freakonomics
"Up supervisory authorities that can operate on their financial and banking markets all sorts of things that have to do with all you know put in place a good macroeconomic framework have good indicators on their fiscal policy on their monetary policy and on the structural reforms that a helpful for them and that is something that it's the bit of the um the heathen a successful story of the imf in a way because i've been doing this job for seven years and i've never heard any country complain about that technical assistance on them training and they always want on need more and the beauty of it is that very often it's financed by the rich countries to the benefit of some of the poorest countries coming up after the break why women are at least i'm one dimension plainly preferable to men i believe that women tend to be more attentive to multiple consequences and developments surrounding particularly shoes that's coming up next on freaking out mix radi free comics radio is supported by i shares because the best preparation for tomorrow is building for your future today i shares by black rock inspired to build free comics radio is supported by masterclass master class produces online video classes taught by masters of their craft available classes include gordon ramsey teaches cooking aaron sorkin teaches screenwriting serena williams teaches tennis and many more beautifully produced and carefully curated masterclass gives you access to the best at their craft so that you can master yours choose from over thirty classes at masterclass dot com slash freak for economics radio is supported by betterment when it comes to investing you've likely had a couple of options you could do it yourself or you can handed off to an investment manager who could be getting commissions for selling use certain funds now there's a better way betterment is a fiduciary which means they put your interests first not their own.
"imf" Discussed on Freakonomics
"Or reckless behaviour when you know someone is there to rescue meanwhile economists on the other end of the spectrum joseph stiglitz and paul krugman for instance they argued that the imf promoted an agenda that was an interventionist enough the imf was criticized for pushing what was called the washington consensus a one size fits all reform model promoting free trade and capital flows deficit reduction privatization and the slashing of subsidies more recently the imf smooth controversial bailout was the greek tragedy it began before christine lagarde's rival but has continued to haunt the agency and her with the imf accused of everything from complacency and poor due diligence to demanding measures of compliance that are hopelessly unrealistic so you can see why the imf might be eager to reposition itself is something more than the lender of last resort which can feel like a loser lose proposition indeed in a two thousand fourteen speech to latin american leaders the guard declared that this is quote not your grandmother's imf she has stressed the importance of policy issues like climate change inequality and helping out the losers in the freetrade game this means theoretically less bailout work and more preventive work the imf second line of business which it calls surveillance and countries commits to each other through us to be audited if you will and receive recommendations that they typically should observe if they want to improve the situation so that's the surveillance line of business and we do that with one hundred nato nine countries the third line of business is the one that has most recently developed and develop the fosters and that is what is called capacity development which is a bit of an obscure word to actually described the technical assistance all the training that we provide at the request of countries to help them in a manner instead that reorganize they exchange rate mechanisms restore sanity in they public finance in general collect taxation better.
"imf" Discussed on Freakonomics
"And doing the right things and we think that this is just hurting both the financial stability and the prosperity that our our mission and we have in particular provided a lot of technical assistance on anti laundering and on countering the financing of terrorism and we have specific services technical assistance training made available and a very close collaboration with fought off which is the international institution in charge of fighting that we are going to be sort of stronger and deeper into these issues because i'm personally and i think the board is now supporting this very frustrated with the fact that we engage we enter into dialogue we commit resources are people work on the grounds and if it is in a to discovered that they are undisclosed loans that there is fiddling with the accounts then it's really not fair on the international community and not fair now for the population and not in compliance with our mission the imf over the decades has had plenty of critics even just among economists milton friedman wanted to abolish it he argued the imf had outlived its original mission of supporting the global monetary system it became he said in 1991 a relief agency for backward countries and proceeded to dig deeper into the pockets of its sponsors to finance its new activities and that he said was the mission of the world bank the imf sister institution which was also founded in 1944 at bretton woods here's what friedman said quote now you have to agencies to promote development both of them in my opinion doing far more harm than good friedman's point was at government was generally more of an impediment free markets than help but institutions like the imf and world bank also create what economists call moral hazard that is your more likely to engage in risky.
"imf" Discussed on Freakonomics
"The imf spending fathers as lagarde has called them were the british economist john maynard keynes and the american treasury official harry dexter weight they wanted an institution that would promote a stable international monetary system and help create an economic network that would incentivize peace marla carry on financial conference pose on the hotel law these meetings are to us just after the second world war and everybody at the time food that it would be much better to have the multilateral dialogue rather than go to war in this goes back to britain woods yes yeah bretton woods new hampshire 1944 new hampshire delegates from forty four allied on associate countries arrived for the opening of the united nations monetary on financial conference in forty four countries deciding that talking sharing opening up was better than closing down and entering into war now most people who think about the imf which is probably not that many people on a daily basis but when we do we usually think about you in moments of fiscal crisis in some countries that we probably don't really know that much about maybe not even know where it is but obviously the imf does a lot more than that you or the socalled lender of last resort but also you monitor the economies of nation states around the world and you engage in what you call capacity development can you talk for just a moment about you know toggle ing between the crisis management and the kind of growth development the uh that the imf also dust yeah so the mission is about improving financial stability and prosperity as a result of that we are engaged in three lines of business the one that you mention first which is the one that we are best known for because it's more visible is the lending of lost result when those countries cannot finance or refinance themselves on the markets because they situation is is very bad and in that case we lend international community money in consideration for commitment on the part of that country that receives the loan to actually fix its public finances take some necessary measures to restore its financial stability and be able to yet again access markets so we.
"imf" Discussed on Freakonomics
"Who would you rather spend time talking to freak anomalous rainier or the world bank let's be honest today unfree comics radio we will hear hoelgaard treats imf members who don't follow the rules we warn the authorities that this is not acceptable and that expedited measures must be taken to keep the bus on the road we'll talk about economic policy making in gender if lehman brothers had been limon sisters it would be a different story and it takes a lot to impress four surprise christine lagarde but it happens you know what there is one thing that that totally new my mind it's coming up right after this and then and then hanged from wnyc studios this is freaking out mix radio the podcast that explores the hidden side of everything here's your host stephen governor all right let's begin if you would appreciate your name and what you do okay my name is christine lagarde and i am currently the managing director of the international monetary fund can you describe what you actually do in a in a given or typical day okay uh i spent about fifty percent of my time at headquarters here in washington and fifty percent of my time travelling to member countries because the the imf the international monetary fund has one hundred eighty nine members that all countries that occasionally will request my presence and i have to attend those a g twenty g seven and various meetings around the world so any given day in washington i would typically get up very early at about five ish in the morning i do exercise on a daily basis when i'm in washington what do you do for exercise why i do i do well i'd i combine yunan i'm a multitasking as so many women do and i read some material that has been given to me the day before and i do stationary bicycle for about forty minutes.
"imf" Discussed on The Cryptoverse
"Emilia m i am i completely missing the point of this as anyone else had to this end can you can you shed some light on for me somehow so please let me know in the comments below for today's show and i'll i miss this or other gold bygone is it just a complete rubbish when it comes to represent bitcoin on a theory mona moving onto this article on the foundation for economic education liz this lady christine lagarde odd am the paris native who has held the position as the head of the imf which is the international monetary fund since two thousand eleven as he says the onus of problems with existing cryptocurrencies fixable over time so these articles by jeffrey took a minor who he is he says in a remarkably frank talk at the bank of england conference of all places these managing director of the international monetary fund speculated the bitcoin cryptocurrencies have as much of a future as the internet itself well it could displace central banks a conventional banking and challenged the monopoly of national monies yes we know that book when christine lagarde managing director of the imf says it we we all stop and go wild so is it also equality of same quotes not so long ago some experts argued that peissel computers would never be adopted and the tablets would only be used as expensive coffee trays so i think it may not be wise to dismiss virtual currencies clothes quote see that's the difference wisdom it's very hard if you are kneedeep or nick deepal even forehead deep in the old banking system to admit that's the thing to admit even if you see the power of cryptocurrencies it takes a very big passed in to admit that it is going to eat your lunch right.
"imf" Discussed on Monocle 24: The Globalist
"Probably next week or something like that having said that we're still onshore there's been no you know statement from uh the authorities here to kind of confirm uh be eggs lactaid what we know is that they'll be essentially waiting for an appropriate time um uh based on as they say opts smith management of greece's public that so we'll just have to wait and see on that one but the one thing that needs to be noted is that coming out of this meeting of the imf oh we know what they're gonna say basically that the greek debt is unsustainable um so we don't we know if that's gonna have essentially a big impact on the markets and if it was worth weights waiting for the greeks and and recapitalisation of ten billion euros needed the from says yes i mean that's the unfortunately the for the greek banks of recapitalisation will be necessary that's what they've been saying um you know it's all the common knowledge if you will um map we don't know uh if via the markets are gonna be used seriously impacted by uh you know all this reports um we'll just have to wait and see if and when the report comes out and if and when the greek decide to tap into the bond market some missing on now now we've visit to athens who'll enjoyed i'm sure coffee agree coffee on the pavement but it seems like we might have been there illegally uh rent for of uh spaces on on pavements.
"imf" Discussed on Bloomberg Radio New York
"T now as you know one of the big discussions about this has been the imf involvement and the lack of it so far in this current bailout in the deal that was struck last night when he wasn't enough for the iom athens you pay out as yet what christine lagarde the head of the imf date agreed was to participate but without bailout thumbs she talked about a fourteen month a stand by law oh to the tune of about two billion dollars to the has been some progress on that front percent say the question of debt sustainability still hanging yes oh the imf not completely happy with what happened in luxembourg yesterday what about greece itself walls the compromise everything that the country was looking for the compromise wasn't average thing that greece is looking for so of course what greece would have wanted was recognition from the imf on debt sustainability that would have eased its access to being included in the ecb bondbuying program and of course this is not what has happened so far at ecb due to make a statement afterwards saying we take note of the eurogroup discussion which we see as a first step towards securing debt sustainability but as i say this agreement fell short of that so far i mean that was on the progress for example there was a french proposal that was added as a probation on a debt relief would basically beat tied to growth recalibration in debt profiling would account for changes in greece inscribed suffering sample if greece is less than expected it would have to repay less of its debt but still questions over that sustainability and this is something that's going to have to be we address so really you could ask whether this is real progress or whether it's just for kicking the can't down the riot came navy thank you so much for joining us live from luxembourg this morning say following at that great care creditors story as say yes thank you very much for joining.
"imf" Discussed on The Tony Robbins Podcast
"That that we are designed to eat the in there they have no nutrients their full of processed and refine things like sugar and uh they're just empty calories and and they're going to contribute to bc the and a whole bunch of other health problems so to we can say what are the basic principles of a healthy diet that apply to everyone and again we will use those lenses that i mentioned before we look back and we say what did humans eat for the vast majority of our evolutionary history in our natural environment where we eight primarily meet imf and fish wild fruits and vegetables not sincethe and some starchy plant so starchy pot plants or things like sweet potatoes and maybe potatoes and and other kinds of starches and not the doubt form the basic template for most human beings for seventy seven thousand generations and you know so that's the starting point and then we we look again at these traditional cultures within that template within that group of foods some people ate a lot more carbohydrate they'd a lot more plant foods and less me whereas in another group they ate more me and less you know carbohydrate rich foods so we start with the basic template and then from there we customize based on our own individual circumstances so my plan that i talked about my book is that everyone should start with this kind of what i call a reset diet which contains only the foods that i just mentioned.
"imf" Discussed on Bloomberg Radio New York
"Investment in egypt has been very low over the last few years and has not kept up with the economic requirements and what we're hoping with this this imf programme they've tackled the first part they tackled capital inflows they've tackle the ability for the government to meet its deficit we we we're not concerned more about meeting its external funding requirements but the next stage really will be to boost economic activity to boost investment to create jobs to improve the structure of the economy over see whether all of this materializes joining us there from abu dhabi of course from she's a chief economist there markets released there's plenty more because we check out some of the stocks to watch as markets across the gulf gets started trading this is giver yeah yeah yeah.