37 Burst results for "International Monetary Fund"

Economy Week Ahead: GDP, Central Banks, Factories

KYW 24 Hour News

03:11 min | 2 d ago

Economy Week Ahead: GDP, Central Banks, Factories

"A look at just how quickly the economy is growing. Joining us live to talk about this CBS News business analyst Dill Schlessinger Joe Good morning. So what are economists predicting here? So remember first quarter we had a 5% drop second quarter, much worse 31.4% drop in annualized basis and this quarter that that will be reported on Thursday morning. Last Big economic report before the election. Q three Expecting a 30% increase? Yea, we liked that direction. Certainly a great new piece of news for an economy that's crawling out of the cove it recession. So remember when you hear that number 30% don't thinking your little lizard brain. I know we'll have them. 0 30 down. 30 up. We're all cool. No, we're actually Really still in the hole. When it comes to the recession. We're still down about four or 5% from where we were before the recession began. Well, what are the projections here? Jill? You know how long are economists saying that it's going to take us to pull out and what do we need to really pull us out of this slump? Well, you know, when I talked to a lot of the economists that are covering this pretty in depth, Lee, they're saying that they believe that the third quarter is going to be the peak of like this big, huge jump up, Then we start moderating a little bit. So in the fourth quarter, we might only rise by 45%. It kind of depends on when and if we get stimulus. The International Monetary Fund believes that for the entire year 2020 that the U. S economy will be 4.3% smaller than it Wass at the end of last year, so That's really important. I think that most economists are really focused on having governments continue to inject money into local economies and having central banks being cooperate. Now we've got the central bank They're doing everything they can. The government really needs to get going on this $2 trillion or so of aid. You know, when I talked to Ah, one economist Diane Swonk, she said. You know, without this aid. We are talking about a pretty scary situation because it means that we might not see employment recover until get this mid 2024. So they want this money going into the economy to try to save jobs and also maybe to retrain workers and re skill. Workers who are sidelined from the labor Force because of the cove of 19 pandemic would kill the other wild card. Here, of course, is you know another surge of covert 19, especially another surge over the winter when you know it's really hard for Restaurants and bars to do outdoor dining in that kind of thing. That's exactly right. And so you know, when, when we looked at the numbers, and we start talking about this, we have to understand that the third quarter was really the best possible quarter to see a rise in output. Now I think that the surge aspect of this the unknown part is really going to hit those industries that have already been hit pretty hard, and I think that's why the idea of having some stimulus ready to go pretty quickly is high on the wish list of economists around the world. All right. Thank you. Jill,

Jill Dill Schlessinger Cbs News Business Analyst International Monetary Fund Diane Swonk LEE Wass Labor Force
Fresh update on "international monetary fund" discussed on 10 10 WINS 24 Hour News

10 10 WINS 24 Hour News

00:40 min | 13 hrs ago

Fresh update on "international monetary fund" discussed on 10 10 WINS 24 Hour News

"05 President Trump keeps saying We're rounding the corner on covert 19. Don't tell that to the people of Wisconsin are suffering through a major outbreak. Their frustration with the president's message is showing in the latest poll here's correspondent Karen Travers. A new poll of likely voters in Wisconsin from ABC News in The Washington Post shows Joe Biden with a 17 point lead 57 to 40. Biden also has an advantage in the battleground state of Michigan, 51 44 that ABC Post poll. The covert pandemic is front and center in this campaign, with the rate of positive test increasing in 11. Of the 13 Battleground States pole as a margin of error of four points on the campaign trail today, President Trump as events in Nevada and Arizona vice president Pants goes to Wisconsin and Michigan. Last night in Michigan, the president may have hit a sour note with women voters. He promised to get their husbands backto work. In July, the International Monetary Fund warn that the pandemic is turning women more than men. When it comes to work. Joe Biden's running mate, Kamala Harris, will also be in Arizona today and make a virtual stop in Wisconsin. Biden the sticking close to home in Delaware, he's to receive a briefing from public health experts and then deliver remarks on his plans to deal with the pandemic, lower healthcare costs and protect Americans with preexisting conditions. Looking ahead to the weekend. Sources tell CNN that former president Obama is expected to join Biden on the campaign trail, possibly in Michigan. About 30. Protesters were arrested in Brooklyn last night after clashing with police. The demonstration was in response to the police killing of a black man in Philadelphia this week. Police cars were vandalized. Fires were set, business windows were smashed. The march began near Boerum Place and Livingston Street and went through downtown Brooklyn. There was the second night of protests in Philadelphia, Protesters marched largely peacefully to the neighborhood where Walter Wallace was shot..

Joe Biden President Trump Wisconsin Michigan Vice President Brooklyn Philadelphia Arizona International Monetary Fund Karen Travers ABC Abc News Kamala Harris CNN Boerum Place Walter Wallace Barack Obama Delaware
Where Does Bitcoin Fit in the Global Reserve Currency Game?

Let's Talk Bitcoin!

05:45 min | Last week

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

United States China Us Government Europe International Monetary Fund Andreas Zimbabwe Fraud Euro Iran Ezer CDC
Fresh update on "international monetary fund" discussed on 10 10 WINS 24 Hour News

10 10 WINS 24 Hour News

00:38 min | 15 hrs ago

Fresh update on "international monetary fund" discussed on 10 10 WINS 24 Hour News

"Joe Biden with a 17 point lead 57 to 40 by then also has an advantage in the battleground state of Michigan, 51 44 that ABC Post poll. The covert pandemic is front and center in this campaign, with the rate of positive test increasing in 11 of the 13 battleground states. Cole has a margin of error of plus or minus four points on the campaign trail today, President Trump has events in Nevada and Arizona vice president Pants goes to Wisconsin and Michigan. Last night in Michigan, the president may have hit a sour note with women voters. He promised to get their husbands backto work. In July, the International Monetary Fund warn that pandemic is hurting women more than men. When it comes to work. Joe Biden's running mate, Kamala Harris, will also be in Arizona today and make a virtual stop in Wisconsin. Biden is sticking close to home in Delaware. He's to receive a briefing from public health experts and then deliver remarks on his plans to deal with the pandemic. Lower healthcare costs and protect Americans with preexisting conditions. Looking ahead to the weekend, sources tell CNN that former President Obama's expected to join Biden on the campaign trail. Possibly in Michigan. About 30. Protesters were arrested in Brooklyn last night after clashing with police. The demonstration was in response to the police killing of a black man in Philadelphia this week. Footage posted on social media show the protesters vandalized police vehicles, set fire to an American flag and ignited at least one rubbish fire. The march began their boring place and Livingston Street and went through downtown Brooklyn. There was a second night of protests in Philadelphia Protesters smart largely peacefully to the neighborhood where Walter Wallace was shot. Very. They confronted produce, and there were.

Joe Biden Michigan President Trump Brooklyn Vice President Philadelphia Wisconsin Arizona International Monetary Fund ABC Kamala Harris CNN Walter Wallace Delaware Cole Barack Obama Pants
Stimulus checks: Trump says no stimulus package ‘until after the election’

America's Morning News

00:54 sec | 3 weeks ago

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.

President Trump International Monetary Fund Kristalina Georgieva Nancy Pelosi Twitter Fed Reserve Jerome Powell Cnbc Managing Director
Boris Johnson wants to 'Build Back Greener'

Monocle 24: The Globalist

04:40 min | 3 weeks ago

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

Boris Johnson International Monetary Fund UK Washington Prime Minister Bloomberg News Europe EU Reporter Germany Germany Joe Biden Chris United States President Trump
China imposes sanctions on U.S. senators Rubio, Cruz over Xinjiang advocacy

Marketplace Morning Report with David Brancaccio

01:10 min | 3 months ago

China imposes sanctions on U.S. senators Rubio, Cruz over Xinjiang advocacy

"Hungary, Janus Henderson, who did this survey reckons? That's going to be about nine trillion cumulus, if speaking of debt around four companies now debt debt by itself is not good or bad. It just depends whether you can repay it or not. The authors of the forecast also say that debt has been going up faster than prophets of growing over the past few years. That is worrying, but as you alluded to interest rates around the world have been so low. Is this debt pile necessarily a problem for these companies? Well the lower interest rates off the easier. It is to pay that money back, but at some point interest rates will have to go, and that could be a problem for companies now. The worry is that when company stock coming out of the bad times caused by the corona virus. Whether they of making prophet or not. They still have to pay the interest in payback the debt. It's interesting. The chief economist of the International Monetary Fund last week was saying that perhaps governments should think again about lending money to so many companies to help save them, but think more in terms of perhaps buying shares or coming up with financial instruments that are more light buying shares equity say

Janus Henderson International Monetary Fund Hungary Chief Economist
Chief economist: With outlook hazy, economy needs support

Weekend Edition Sunday

03:28 min | 4 months ago

Chief economist: With outlook hazy, economy needs support

"Guest, the chief economist of the International Monetary Fund in the wake of this pandemic, the IMF says the global economic outlook is far worse than previously thought. And recovery will take a lot longer for those living in poor countries. That will mean greater income inequality. More debt and more poverty. Geeta Gopinath is the chief economist for the IMF, and she joins us Now. Welcome to the program. Thank you for having me on your show. And we also have NPR's gyms are Oli, who covers economics will also be asking questions. Good morning to you. Good morning, Geeta Gopinath. You predict a much deeper recession this year and slower recovery in the next. What caused you to revise your April estimates so drastically when two big reasons. One is, If you look at the duration of the Loch towns in the first half of this year, they have bean longer than we anticipated. And the intensity has been greater. And secondly, because we don't have a medical solution, yet we expect to see longer, more persistent social distancing into the second half of this year. You wrote this past week that 75% of countries are reopening. But in the absence of a medical solution, the strength of the recovery is highly uncertain. Did you not know that before, though, was there some belief early on that this was going to be Shorter, considering the fact that the illness was deemed to be serious and global and reach. I think what we certainly expected it was that they would not be a vaccine anytime in 2020 But on the other hand, there was an anticipation that as countries expanded, the healthcare facilities did enough testing. Tracing had enough protective equipment. Then there would be much better prepared to deal with this health crisis. I think as off now we can say that countries are still behind the curve here. Which is why we expect this to be a bumpy ride going forward. I'm going to press you a little bit on the debt that the poor nations they're taking on because we've seen in the past that it literally takes years upon years to get out from underneath that debt, and we really are in a place where there won't be many places to turn to for those poor countries to find help. It is going to be a serious concern for foreign nations who will come out of this crisis with higher levels off debt, and the solution for that will be a multilateral support in the form off. Death relief debt restructuring. Concessional financing concessional aid. I mean, I don't see any other way for these economies to be able to come back up to growth without support from the international community. China is a huge lender, especially to developing economies. How cooperative is China being right now in terms of rescheduling debt? China is a part of this G 20 initiated to provide debt relief on DH, So you know they are working with the international institutions to help in this respect. You know, I suspect much more will be needed and this is from all countries was just from China for the poor nations. Onda also for a much longer period of time than till the end of this year.

Geeta Gopinath China International Monetary Fund Chief Economist OLI NPR
IMF downgrades outlook for global economy in face of virus

AP News Radio

00:44 sec | 4 months ago

IMF downgrades outlook for global economy in face of virus

"The IMF predicts a deepening coronavirus recession through the rest of this year the International Monetary Fund predicts that the global economy will fall four point nine percent well the U. S. will slide eight percent economists also predict rebounds provided there isn't a severe second wave of the corona virus pandemic the forecasters say the world economy could expand five point four percent next year well the U. S. could gave four point five percent to twenty twenty one that's not enough to recover to the level before the pandemic yet if there is another major outbreak early next year then the IMF estimates that the global economy will shrink another four point nine percent Tim McGuire Washington

International Monetary Fund Tim Mcguire Washington
IMF sharply lowers global growth estimates

Morning News with Manda Factor and Gregg Hersholt

00:26 sec | 4 months ago

IMF sharply lowers global growth estimates

"Summer the International Monetary Fund has just sharply lowered its forecast for global growth this year because in the visions far more severe economic damage from the pandemic than it did just two months ago the IMF now predicts that the global economy will shrink four point nine percent this year significantly worse than the three percent drop in estimated in April that would be the worst recession in terms of global impact since the Great Depression of the nineteen

International Monetary Fund
Lebanon protesters call on government to resign amid crisis

Weekend Edition Saturday

00:28 sec | 4 months ago

Lebanon protesters call on government to resign amid crisis

"Last night marked the second night of protests in Lebanon protesters clashed with security forces over the government's handling of the country's financial crisis protesters in Beirut to the northern city of Tripoli threw fireworks and stones police responded with tear gas and rubber bullets the address comes as the government holds talks with the International Monetary Fund in hopes of securing the financing to get the economy back on track to Lebanese palace lost about seventy percent of its value since

Beirut Tripoli International Monetary Fund Lebanon
Lebanese government meets after night of raging protests

Reveal

00:31 sec | 4 months ago

Lebanese government meets after night of raging protests

"Last night marked a second night of protests in Lebanon protesters clashed with security forces over the government's handling of the country's financial crisis protesters in Beirut and the northern city of Tripoli threw fireworks and stones police responded with tear gas and rubber bullets the unrest comes as the government holds talks with the International Monetary Fund in hopes of securing the financing to get the economy back on track the Lebanese pound has lost about seventy percent of its value since

Beirut Tripoli International Monetary Fund Lebanon
The European Commissions approach to blockchain

Insureblocks

08:24 min | 5 months ago

The European Commissions approach to blockchain

"Hello and welcome to inch blocks urine. Decadent podcast to blockchain ans- mark contracts. I'm will eat. Scuff your host for this week's podcast. We be discussing the European Commission approach to blockchain. And I'm very pleased to have Peters Zilkha this head of unit digitalization Blockchain Digital Single Market Directorate at the European Commission Peteris. You've got a lot of titles. Many thank you many. Thanks for joining us today. Could you please give us a brief introduction on yourself? I'm glad to I mean I'm a lawyer by background. I have the JD degree from University of Southern California before they had a political science degree. And though I've never really practiced their California state bar for almost thirty years now and since Two Thousand and five Florence. My Country Latvia joined the European Union. I've been ahead of unit in the European Commission and digital innovation. Blockchain is what I've been working on and you could say to US sometimes perhaps over used term but It's a little bit my passion. I've been interested in walk chain and tech since about two thousand and twelve so perhaps not at the very beginning but at least relatively early for the public service this is also why I'm The original co chair of the Fintech Task Force. I have my second Co-chair coming from the financial services side. And then I'm from digital single market and I mean in both these areas I'm working in legislation and policy in funding infrastructure and research and managing it as well as working with with stakeholders and international cooperation. So it's an interesting bunch of things to work on. I'm glad to be doing it well. As you sitting the key term as passion because you're effectively getting the job of three other men so very impressive So Peter is As it is customary here at Inter blocks. Could you please explain our listeners? What is blockchain? And how does it work? Well glad to try. This is one of these things. It's a little bit of a communications challenge and exercise. But I mean I would say that. It's simply a growing list of records of blocks In a ledger that are linked utilizing cryptography and generally managed by peer to peer network adhering to a protocol for communication between the nodes and then validation of the new blocks that perhaps gets already a little little technical some listeners. But I would say. It's a way of validating transactions and data in an immutable in permanent way. So that you can be sure that they haven't been tampered with and that you don't have double spending of a value and that you can transfer data along with that value. That's the way that we see it and I think it's also important because some people are I think most of all sometimes negative that they say Blockchain is something that's bad because let's say uses a lot of energy if they take the original crew for work and everything that doesn't do that is is not blockchain. I mean we take a very wide view. I mean distributed Ledger Technologies Hash graphs tangle on these types of blockchain inspire technologies is is blockchain for us. I mean we're not trying to freeze history in two thousand and nine. When the BITCOIN paper was Was published or at some other point. It's developing technology and I would say what is really important is the element of decentralization which is not black and white. It is a gradient going from something which may not exist of completely centralized to something which also may not exist of being completely decentralized but actually allowing a degree of decentralization That a single database or even some federated databases. Don't don't allow so. This is where I think it gets exciting and where it makes it possible for a diverse group of actors to work together while preserving their autonomy. Excellent really loved that. I'm element of your definition of. It's a gradient of decentralisation incidents that's a spot on now could you introduce to us all the different bodies within the European Commission you have the digital innovation in Boston you need. And other bodies within your commission that are here to research enable and further development of blockchain in the EEG perhaps give us an overview where we'll do some deep dive in in some of the sure. I mean starting with with my unit. We're kind of the policy leaders on blockchain as a technology. But we're not. We're not the programmers as I said. I'm a I'm a lawyer and a political. Scientists have other colleagues are engineers but were more economists lawyers people looking at digital policy and in my unit we have the e U Blockchain Observatory in Forum which is a think tank working for us that has a whole set of reports and videos and regular workshops which used to be physical in at least right. Now they're virtually cited We also have the European blockchain partnership that my unit runs. This is twenty nine. Different countries twenty-seven all twenty seven e. You member states and Norway and Liechtenstein. Who are building a European blockchain services infrastructure together. I mean actually building an infrastructure. This piloting this is not testing. We're putting public services on the blockchain justified. We had quite a filtering to see which cases were justified to utilize the blockchain. And this is also something you could call a regulatory sandbox because while the countries and us are working together we obviously have to look at European Union legislation. We have to look at national legislation. Most likely you don't find anything. We're blockchain is prohibited. But you certainly don't find many cases where it specifically allowed though. You're getting some legislation in France in multi in other countries. It's specifically see a root for blockchain Roxanne legally And then we also collaborate with the International Association of Trusted blockchain applications as stakeholders organization I myself I'm in the OECD Policy Expert Advisory Board on Blockchain so we collaborate with OCD with the United Nations and others and In Not Buzz. International position of trusted blockchain applications a global governmental advisory board but also in the OECD activities. In the other activities. We probably would participate in the spring meetings of the World Bank and International Monetary Fund. This year I spoke myself in the IMF Fintech roundtable last year. Also you have the collaboration in the Fintech Task Force as I said from our side digital single market I gave a basic description on the other side. You have the financial markets colleagues the call as coming from research in Salon with the financial markets colleagues. Were collaborating on the digital assets possible legislation we just closed the public consultation on digital assets. Hearing what the stakeholders with the community has to say and in another context of the Digital Services Act which is a updating of ECOMMERCE along with addressing the platforms. We are seeing how perhaps smart contract so we have to do something to ensure that there is not any fragmentation of different requirements smart contracts across the digital single market and the twenty-seven member states. Something that we want to want to avoid

Blockchain European Commission Blockchain Digital Single Mark Fintech Task Force European Union European Commission Peteris U Blockchain Observatory International Association Of T International Monetary Fund Peters Zilkha University Of Southern Califor Inter Blocks California Latvia Oecd United States
In push for normalcy, industries, nations test the waters

AP News Radio

00:47 sec | 6 months ago

In push for normalcy, industries, nations test the waters

"The head of the International Monetary Fund says the corona virus pandemic is having a devastating impact on the global economy IMF managing director Kristallnacht Georgia says it's the worst crisis since the Great Depression but the thesis more than that because it is a combination of the health crises and an economic shock in an interview with Britain's independent television news the IMF chief says it's a real puzzle normally in a crisis we will boost spending could now we are telling people don't go up don't spend your jabber tells I. T. N. governments must support health systems and plan for recovery while helping businesses and households to sustain through the next couple of months in other words massive fiscal injection I'm Ben Thomas

International Monetary Fund Managing Director Georgia Britain I. T. N. Ben Thomas
"international monetary fund" Discussed on KIRO Radio 97.3 FM

KIRO Radio 97.3 FM

07:50 min | 6 months ago

"international monetary fund" Discussed on KIRO Radio 97.3 FM

"Served as the chief economist at the International Monetary Fund from two thousand eight to two thousand fifteen he has taught economics at both Harvard and MIT and he has served as the president of the American economic association today he is a senior fellow at the Peterson institute for international economics we just sat down with a levy a to talk about the economic implications of the corona virus outbreak a levy a thank you very much for joining us on intelligence matters it is great to have you with us it's a pleasure so the eight this is this is the fourth episode in a row that we have done on the coded nineteen pandemic the first was on the virus itself the second was on the government's policy response with regard to health the third was on the national security implications and today with you we're gonna do the economics of all of this so thank you very much what I'd like to do is kind of break this into into four big pieces of the VA the first is the economic impact the second is policy response by governments the third is how to think about the eventual recovery and then the force is any thoughts that you might have about the long term economic implications of all of this but if we start with the economic impact maybe the first question is where was the US and the global economies as we were going into this crisis you know were they strong where they weakening how would you characterize where they were as we were going into this in those initial few weeks so I think just before the crisis the feeling in general was that that was more or less smooth sailing there were no major issues in balance is on the horizon the group was no great because productivity growth is not great but there was a sense that overall the expansion had been lasting for the long time the longest time in post war history it could continue there was no reason to think that the recession was coming or anything was coming so this was really a well we well when the virus appeared show how would you how would you describe it to a non economist Olivier what's happening to our economies from a demand and supply perspective how would you explain what's going on today Edgar basic levels with eighteen the easy to explain which is set for health reasons we basically had to close about one third of the economy nearly overnight and that's you know you know dog in their supply shock she certainly basically one third of production had to stop what we've realized is that stopping one thirties is a very complicated thing because it has a lot of facts you cruise one firm and then the phone which is buying from but from he's in trouble over firm which was selling to read for an he's in trouble and we see this all the time that become bigger and bigger and the why why do I choose the one phone number because now we know have some estimates from parts from countries which have been on lockdown and then we can look exactly at what happened that and this one phone number seems to be the right number so we've gone full face with a defect we just cruised once her off of production effect of this was that it was potentially catastrophic for all the people who basically don't have forms of ID they can use to survive well they cruising is going on and same thing for firms and therefore what we have seen is a need to help them it will come back as he could possibly play to but but the government has tried to do is we need the effect on the most vulnerable people in films so that's what has happened until now and now with entering the next phase and this was needed to control the infection rate and get it down a bit we now entering the second phase which is going to last a long time and we're entering it too will be from a health point of view I think there's no disagreement that if we could do it for now if you could have no dial or something close to log on for another month it would be very very useful much easier to control the infection but often but for various reasons which we can come back to that's not what we're doing and therefore we now in the phase in which we have to keep infection rate down and this is an incredibly on certain face both because we don't understand still fully the dynamics of the virus we don't exactly understand the effect of the body's fox with a low down on the virus we don't understand what we can do to basically keep being second rate down and so I think the most likely outcome given that we would be starting to ability is that it's going to be very bumpy that once in a while they are going to be increases in infections people talk about a second wave that could be a second wave could be a third way it's going to be a series of bombs in which we may have to go back into the hotel with the same problems again for people who don't have the means to survive used a downstate on how long it's going to last will be quite a while they difficult to say but if I take a guess I don't think we'll be back to anything like normal before the middle of next year maybe the end of the year show today in this in this second phase is the economy continuing to contract significantly or is it more flat how do you how do you think about that no I mean you can think of what happened is basically we just went down and then we're going to hopefully to slowly go back maybe not exactly to where we were before the crisis but you can think of going up slowly but you know the pain is still going to be there for a long time but yes in principle from now on we should expect cool off given that we form so much cool should be positive which again sounds good but we're starting from a very low level so it's going to be a lot of pain for a long time and then if we have loved dogs then you know we could be there to get we'd walk again we have to close for lunch again and we have another decrease in output in production up that's not the hope is that we can do it relatively smoothly I think the reality is going to roll up on average but we may have a new log homes new decreases in production so they can you can you explain to folks what just happened in the oil market why it was possible to buy to buy oil in the future at a negative price not fighting anybody all rights but it's easy to understand what happens to I saw a photo with his a decrease in the mac which is surprising it has taken some of the place more order than people and firms can use and you know you start storing it in those places you end of story getting boats and ships and whether you can but at some stage is just too much and the thing you want is just to get rid of it and so for a very brief period the prices went negative that's a big deal what's important is that the price is very low and he's going to remain very low partly because of the enormous decreasing demand but also because of the incredibly stupid war between the Saudis and the Russians which has increased supply at the time in which you know there was a need for reducing supply not increasing.

chief economist International Monetary Fund Harvard president MIT
China and the U.S. are growing (or not growing) economically apart

Marketplace with Kai Ryssdal

06:53 min | 6 months ago

China and the U.S. are growing (or not growing) economically apart

"And I WANNA go back a couple of days to this report from the International Monetary Fund saying the global economy was going to shrink this year by three percent and then in that same report. They said you know. We're looking at a rebound in twenty twenty one and I wanna know if you as a trained economist on this radio show today by that. That's a hard one. I I think when we looked at twenty twenty we expected a global rebound from for the year in January. We saw that. The trade agreement remember that last year. That was the biggest crisis. Twenty nineteen trade agreement between the US and China with the Tailwind for global growth more broadly. And so when the World Bank is basically saying is that nineteen just world on pause for a year and it restarts twenty twenty one. I do think the world looks better in twenty twenty one but I think it's going to be hard list to get to three percent. Gdp grouse Lovely in twenty one and been everything. That's going down right now right right. We'll just we'll just note here. The varying sound quality. Here this being live rated but we're all doing From our living rooms and let me ask you to turn to China here for a second. We're doing some China the rest of the program but we have to point out that What had been one of the fastest growing economies in the world shrank last quarter by almost seven percent. It's pretty clear we're not going to get them the Chinese to help drive out of this lockdown right now at the Chinese. Were counting on us to help them to get their economy back on track and since it's still an x force case economy now. The Chinese are worried. Because we'RE NOT GONNA be buying as many of their goods so the whole world is stuck in a funk. Nobody's GonNa be healthy guy that drags everybody through this. We're all going down together and it's very interesting that to me that we're in a in a moment where world leaders can't really see to coalesce around anything but we need each other more than ever need each other to be stable more than ever to be able to get out of it. Well so look Neil on that thought of US meeting each other more than ever. Let's apply that domestically here for a second and the idea that Congress. Now we've exhausted that three hundred fifty billion dollars in the Small Business Administration loan program. The Senate in the House are out on recess and cannot come to terms on what to do next. If you're an American business person what what are you planning for? Because the uncertainty it seems gets worse every day in this crisis but still you have to plan in process rights are. Luckily we have another outlet? Which is the Fed the Federal Reserve? Has I thought they were holding meetings chair Powell's a garage because they were throwing out so many kitchen sinks that this problem they have done everything and probably some things that I haven't thought about to arrest this problem in really make sure that credit flows to households in consumers at around Congress in around Leveraging some of the congressional move says while and enlists remember that banks are actually going to be part of the solution here instead of the problem as they were in two thousand. Eight Bank. Balance Sheets are very strong very solid after ten years of regulation so there is some help stealth flooding even. Congress is on recess for right. Now let me ask you. This is look this is in a way. It's a scary question. It's a little bit cynical but it's something that's been on my mind so yes. The Fed is going great guns and doing what it can part of. What it's able to do is because it has the backing of the Treasury and and some approvals by the Congress. Do you suppose though that it's possible that this crisis accelerate so quickly as Congress can't come to terms that it that it exceeds the capacity of the American government to fix while it depends on how behind Americans themselves get on debt payments and things like that and it depends on the whole that the federal government lied to steepen that dot the base that you're talking to Washington going on right now Is that the Republicans want to send money to the Small Business Administration program. That's been helping small businesses with their payroll and at the same time. Democrats want to send money to the state and to the hospitals that have been dealing with this problem on the front line. Republicans don't WanNa do it there They don't want to send emergency funds stays in hospitals. Which is I just. Don't understand how to be an ideological thing. We'RE GONNA get ideological here. We're all GONNA be in big trouble because this is a problem that is going to require creative thinking outside any problem that That had faced the American people. And it's GonNa require us to think about the economy in two different stages one is. What is the Post Lockdown Pre Vaccine Colona virus economy? Going to look like and it's GonNa be one but we have to shift workers to contract tracing we're going to have to ramp up testing teach people how to be back if they've gotta be a completely different economy and then we have to think of how to transition the economy from that economy into a post vaccine economy which is an attempt to really truly normalized for world. And there's no I know ideology belongs in any of that discussion. Because if you don't increase the size of the federal government or state government or any government you can't get from the please vaccine pays to the Po- sexy is this Neil Miller real quick and I mean like thirty seconds. Neela it is fundamentally a discussion once again of the role of government in this economy. Right government right now. Is the prime the pump right? We know that things are going to get worse before they get that. We just started the social containment in late March or seeing the effects of that head Americans now but eventually it will get better because we're also seeing progress in testing and innovations in vaccines and treatment. It's a hard road road till then but look what already. The American people have gotten shut down an economy voluntarily to attack head on health crisis that was projected a few short weeks ago to be much worse than it is already turning out to be so in that sense. There is hope that we have enough ingenuity among us all to combat this crisis and to get through it together

Congress China Federal Reserve Small Business Administration United States Neil Miller World Bank International Monetary Fund Twenty Twenty American Government Treasury Senate Bank Powell Washington PO
UN chief expresses solidarity for Africa as continent ‘braces’ for pandemic

UN News

00:59 sec | 6 months ago

UN chief expresses solidarity for Africa as continent ‘braces’ for pandemic

"African nations. Need more than two hundred billion dollars to withstand the immediate impact cave in nineteen and to recover better. Human chief. Antonio Guitarist has announced a meeting with African Union senior representatives via video conference on Wednesday Mr Parrish repeated his call for greater help from the International Monetary Fund and others in issuing credit for developing countries debt relief countries that are unable to pay their international. Creditors must also be an important part of the response the UN secretary general said he also noted that a separate global appeal to help over one hundred million people in humanitarian emergencies had so far raised around four hundred million dollars. Such assistance was essential in Africa. As we break for the expected spread of the pandemic Mister Gutierrez said the disease was in no way of Africa's making but as with the climate crisis the African continent could end up suffering the greatest impacts explained highlighting. The urgent need for a safe and effective vaccine. Mister Gutierrez said that it may be the only way to return the world to a sense of normality

Mister Gutierrez Mr Parrish African Union Africa International Monetary Fund UN Antonio Guitarist
Global economy will suffer worst year since Depression

News, Traffic and Weather

00:27 sec | 7 months ago

Global economy will suffer worst year since Depression

"The International Monetary Fund says the global economy is suffering the worst year since the depression of the thirties these are your world headlines from ABC news I remember chief economist Gita Gopinath this is a downgrade or six point three percentage points from January twenty twenty a major division over a very short period of time the IMF does expect the global economy to rebound in twenty twenty one but a lot of unknowns

International Monetary Fund Gita Gopinath ABC Chief Economist
IMF: Global economy in 2020 will likely suffer its worst year since the Great Depression, brought down by viral outbreak

Bruce St. James and Pamela Hughes

00:32 sec | 7 months ago

IMF: Global economy in 2020 will likely suffer its worst year since the Great Depression, brought down by viral outbreak

"And there are signs the world is dipping into something resembling the Great Depression global economy is suffering the worst year since the depression of the thirties that bleak assessment from the International Monetary Fund IMF chief economist good to go but this is a downgrade or six point three percentage points from January twenty twenty a major division over a very short period of time the IMF does expect the global economy to rebound in twenty twenty one but a lot of unknowns roommate like will the virus still be with us and will we have a vaccine

IMF Chief Economist
Coronavirus 'Great Lockdown' will shrink global economy by 3% in 2020: IMF

KNX Morning News with Dick Helton and Vicky Moore

00:31 sec | 7 months ago

Coronavirus 'Great Lockdown' will shrink global economy by 3% in 2020: IMF

"A tough assessment from the International Monetary Fund today's seeing what they're they're calling the great lockdown recession as the worst since the Great Depression they see global economic growth contracting three percent as the global pandemic has spurred a global shut downs of was in sharp contrast to the expected growth of three point three percent they predicted in January now they're predicting a drop of three percent which is a dramatic drop in fact during the financial crisis we saw a drop of just point one percent for the global

International Monetary Fund
IMF: Global economy will suffer worst year since Depression

AP News Radio

00:41 sec | 7 months ago

IMF: Global economy will suffer worst year since Depression

"The International Monetary Fund says the virus pandemics impact on the global economy will be historically bad just three months ago the IMF forecasts global economic growth of three point three percent to date a breathtaking downgrade the IMF saying the world economy will instead to shrink three percent its worst year since the Great Depression among specific nations the IMF's looking at a five point nine percent drop in the U. S. and seven and a half percent in European countries sharing the euro it's projecting a big rebound next year with five point eight percent growth but acknowledges the prospects are uncertain Sager make ani Washington

International Monetary Fund Ani Washington
"international monetary fund" Discussed on AP News

AP News

02:50 min | 1 year ago

"international monetary fund" Discussed on AP News

"The International Monetary Fund says it's optimistic on Greece's growth and employment prospects for this year, but urged the government to stick to reforms to maintain the momentum in a report published following talks with officials in Athens. IMF officials said the battered Greek economy said to grow two point four percent this year up from two point one percent in twenty eight teen. The report also argued the heavily indebted countries. Medium-term ability to repay its creditors. Mostly its European partners and the IMF remains robust. It added. However, the country remains vulnerable to a potential slowdown in the global economy and must press ahead with reforms, particularly to make the labor market more flexible. San Francisco forty Niners legend Joe Montana is looking to hit pay dirt in the legal marijuana industry. California based Khalifa has announced the hall of fame quarterbacks. Venture capital firm is taking part in a seventy five million dollar investment in the company Khalifa operates a farm in to retail stores in northern California and distributes its branded products in roughly two dozen other retail outlets in the state in a statement Montana said he was investing in marijuana in part to combat opioid addiction some doctors recommend marijuana to treat opioid addiction. Former Yahoo chief executive officer Carol Bartz also took part in the investment and will join the company's board of directors. Chinese Internet users are speaking out on social media after losing access to Microsoft's Bing, search engine people have complained online about the ruling communist parties, increasingly tight online censorship with some accusing regulators of choking off access to information others complained. They were forced to use Chinese. Search engines they say deliver poor results being complied. With government censorship rules by excluding foreign websites that are blocked by Chinese filters from search results. President Xi Jinping's government steadily tightened control over online activity, Microsoft confirmed in a statement Bing was inaccessible in China. It's the company's trying to determine next steps. The shutdown and federal workers. I'm Tim Maguire within a newsman that President Trump agrees to short term continuing resolution to end the partial government shutdown. Congressional negotiators have three weeks to work out a deal. House speaker Nancy Pelosi, please that we reached an agreement to reopen government now. So that we can have a discussion on how to secure our borders. Trump says any agreement has to include funding for his border wall having barriers fencing or walls, or whatever you wanna call. It will be an important part of the solution. EPA lawyer kaylene Castelli says the shutdown was painful, definitely welcome getting paid because.

International Monetary Fund marijuana Joe Montana Bing Khalifa Microsoft Trump California President Xi Jinping Athens Greece Carol Bartz kaylene Castelli Nancy Pelosi Yahoo chief executive officer
"international monetary fund" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

02:17 min | 2 years ago

"international monetary fund" Discussed on WNYC 93.9 FM

"International. Monetary Fund says risk to the global financial system are rising despite unemployment in the US at a forty nine year low. Here's NPR's rob Schmitz in an IMF report. Analysts said economic growth appears to have peaked in some major economies while the gap between advanced countries and emerging markets was widening the continues to grow strongly, but the EU and Japan's economies are slowing as China's who's leading Konami could be exacerbated by its trade disputes with the US. This is NPR news from Washington, and this is WNYC from New York. I'm Richard Hake. New York City officials are under pressure to deliver on climate change proposals. After scientists from the UN released dire report it estimates. The earth's atmosphere could warm by two point seven degrees Fahrenheit by twenty forty and one way to shrink the city's carbon footprint is by tailing emissions from the big buildings city councilman cost a constant a TD's says the city needs to lead, by example, in when we got this, right? It will be something that other cities to then take in duplicate and and. Federal government won't do the work then we will buildings account for nearly seventy percent of the city's carbon emissions. Former three term New York City. Mayor Michael Bloomberg is a democrat again, he announced the switch this morning on social media. He previously been a democrat or Republican Annan independent. He twice flirted with running for president is registration. Now is a democrat would be significant if he decides to challenge Trump on Instagram Bloomberg writes that he made the switch because we need Democrats to provide the checks and balance are nation so badly needs. He did not say anything about running for president one of Phil Murphy's first moves as governor of New Jersey was to order a one point three million dollar audit of nj transit. Now, it's out in the findings are not good problems play every part of the agency from breakdowns in management lack of planning to low morale. The governor says nj transit is already carrying out some of the audits recommendations, like creating a warm room for communications, I believe as we implement the recommendations of this audit, the fare-paying public in nj. Transit's dedicated employees will begin to see real noticeable improvement. Murphy says he'll hold off on a fare hike until June. But after that the agency will likely need more funding to make further improvements. And we're sorry. New york. Harry comes.

New York City Mayor Michael Bloomberg New Jersey NPR US Phil Murphy president IMF International. Monetary Fund rob Schmitz Konami UN Richard Hake China Bloomberg EU Washington
"international monetary fund" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:21 min | 2 years ago

"international monetary fund" Discussed on Bloomberg Radio New York

"International Monetary Fund is set to cut its forecast for global growth on signs that the trade war is darkening the three months after discussing near four percent expansion this year and next Christine Lagarde says she's no longer that optimistic six months ago, I pointed to clouds of risk on the horizon. Well, it's not pouring. But there's a bit of drizzle. Because today some of the risks have begun to materialize. And indeed the assigned start growth has plateaued. Let's begin Hans-Gert. He is the founder and CEO at HD research. Welcome back to the program. Hansson great to have you in Dubai for a chain to be here. I want to start off with some additional context and perspective from the Bloomberg view team. They put out a an editorial, David Fickling, and he writes, the outcome of the North American and Korean negotiations suggests something more positive than Washington is happy to agree. Some minor modifications to existing agreements declared victory. Go home to fight the midterm elections. You see it the same way. Absolutely. I think this deal between the United States, Canada, Mexico. It's not that much different from the old NAFTA. There will be a few more winners or losers. But what he does at this point. Is it sort of takes an element of risk out of the equation. I mean, comedian companies probably stay up the cap ex plans again, it will probably lead to a little bit more economic activity, and I think that will be reflective stronger, Canadian dollar. That's that's one of the fallouts just in terms of the data and the world perspective Christine. Lagarde warning that she's no longer as optimistic as she was put together the global PM is they are beginning to roll over this TV library. I want to know from an investment perspective. Do you trim back based on the view that a number of highs is they're saying that Trump is going to be emboldened in terms of his trae position with China? The data is beginning to roll over. Do you adjust for the data adjustment? But the data's been rolling over for quite some time. Actually, we have somehow it just it. I think we probably is good to have an overweight in the United States. Okay. But mainly defensive sectors because we are in the late stages often economic expansion. So we're talking maybe healthcare consumer Staples. And so on. And our opportunity somewhere else like Japan, for instance, about emerging markets that something that worries also little Beethoven, very low. Now, we let me to that you say defensive in your research. You highlight aerospace defense cybersecurity is in there you've got telcos as well. So is this a time to act to these positions or these existing positions where you just keeping the existing positions. I mean, okay defensives again, consumer Staples healthcare telecom. And so are maybe even utilities the other sectors like aerospace biotech, and so on longterm themes that were playing here. I don't think it's good to have an exposure in in any marketing environment night. The question is where was everybody in one thousand nine hundred one? Okay. And the reason why I'm telling you don't need as I was floating around. I know where I was. I do. Of course, I'm talking about the clothes in the nNcholas put it in the GDP library for anybody. That wants to look at the v the Naci levels, the relative strength index, whichever machination you want is the Nick I to halt to handle because you're SU thirty eight percent away from its all time record Buller on the Nikai. Oh bull on the Nikkei B for quite some time. Although this year. Disappointing until September. But he's still the only market a major market in the world that is almost forty percent below. It's all time high. So I think that this has Iran earnings improving Rb has a political mandate is going to be there for another three years. So he can pursue this third arrow. So I think overall the picture looks to be brighter. I mean with everything we just talked about and with the uncertainty around what's going to happen between the US China and train. How do you navigate emerging markets in Asia? I mean, do you just wait and see how this all plays out? Or do you see some opportunity in places like maybe Chinese stocks were there has been a very strong civil the Chinese stocks are political intervention. I mean, if the drop too much you're going to have to national team coming in supporting them, but I would not necessarily want to be invested in China, the near term the opportunity in China is the long term.

Christine Lagarde founder and CEO United States China International Monetary Fund Washington Bloomberg David Fickling Asia Dubai Beethoven Hansson Trump Buller Japan Mexico Iran Nikai
"international monetary fund" Discussed on Monocle 24: The Monocle Daily

Monocle 24: The Monocle Daily

02:49 min | 2 years ago

"international monetary fund" Discussed on Monocle 24: The Monocle Daily

"The austerity measures being introduced by Mercedes McRae's government. It is obviously if nothing else are demonstration of that power that Argentina's trade unions possess isn't anything beyond that though. What kind of response I hoping for from the government. Well festival it is very much a demonstration of power by some of the world's most powerful trade unions. And those trade unions are directly opposed to the type of economic reform program that mercy macrey has been trying to put in place in Argentina ever since he took power in twenty fifteen, they now are operating at a time of weakness when retain macrey government as Argentina goes through an economic crisis. The local currency, as you mentioned is in freefall is lost more than fifty percent of its value since the start of the year Mercier, Matt crease own approval rating to taking a significant drop now is the time from the trade unions point of view to take action. They can take advantage of this and they are directly opposed to these type of reforms and what they are doing by taking industrial reaction, industrial action. They are making it much more difficult from rec- macrey to push through the type of reforms that in imminent agreement with the International Monetary Fund. Deems necessary that the market's deem necessary that international investors in necessary in that Murcia macrey deems necessary to get to get Argentina's economy back on track. Is there a simple way to explain how Argentina has got into this extraordinary state? And I feel like I should add the word again to that question right. Goes back some way and it's not all mercy macrey volt when he took power in twenty fifteen. He inherited something of a poisoned chalice from the previous Christina kitchen. The government that had ramped up state spending to record levels and had financed that with the printing of money on a massive scale as well. Creating a ballooning fiscal deficit, one of the world's highest inflation rates and many other ills which Mercier macrey government to con when it took power in twenty fifteen. Maria macrey has done what one might say the fed job at sorting out those ills. He's tried to unravel all of these unorthodoxies introduced by Christina Kitchener to try to reset Argentina's economy along author, adults business market oriented lines. It went very well for the first three years of his presidency. In the last three months. It's gone rather Pash eight, partly because some political errors himself would have economic consequences, but also changing global. Circumstances which have culminated in a passer in free full interest rates at sixty percent, which have their own impact on credits and loans for small businesses and the economy going into recession and with depot Serity on.

Argentina Mercier Christina Kitchener rec- macrey Mercedes McRae Maria macrey Pash International Monetary Fund Murcia fed Matt crease fifty percent sixty percent three months three years
"international monetary fund" Discussed on WAFS Biz 1190

WAFS Biz 1190

02:11 min | 2 years ago

"international monetary fund" Discussed on WAFS Biz 1190

"Prices may still be levels unseen since. Two thousand fourteen crash but the Gulf Spurling's freezing about to stop soon six nations, making up the GCC have. Raised more than one hundred fifteen billion dollars and that's, from international bond sales of the past three. Years is the oil slumped two years of budget surpluses into large deficits Saudi Arabia needs oil to be at around eighty four dollars a barrel to, balance its budget according, to the, International Monetary Fund estimates for catastrophic situations more dire the figures one hundred thirteen dollars that's more than any other producer. In the Middle East except war ravaged Libya it's got more with us Acehnese the, founder and president of necessity and associates welcome back to the program We price is. Then for for the Gulf exporters perhaps now incentive or, the temptation to go back to the old. Ways of spending perhaps but even at current oil prices which are pretty high compared to what we saw in twenty fifteen twenty sixteen seventeen you're still, talking about deficits that, are going, to run. About two hundred ninety four ninety five billion up to twenty twenty two so over the next four years. So the borrowing spree I think will continue but. Probably at a lower pace I think the big danger is that with higher oil prices the wave of reforms that we started getting over. The past few years might be. If not averse to at least put we've, already seen for example this Rabia In terms of looking at the social safety net increasing wages and salaries again so there's a temptation really to potentially maybe roll back, some of, the privatization The quantity. Coming through the system now with the higher oil prices Andy and the issuance of some of these sovereign bonds you talk about reform fatigue. In little, bit we saw that in Saudi, Arabia and especially comes to consumers and households and their, ability to spend the retail. Sector has been severely affected I mean let's look at Saudi in recession loss Down zero point two percent plus if you look at the, numbers.

Saudi Arabia Arabia Gulf Spurling Gulf International Monetary Fund GCC Middle East founder and president Andy producer one hundred fifteen billion do one hundred thirteen dollars eighty four dollars two percent four years two years
"international monetary fund" Discussed on KVNT Valley News Talk

KVNT Valley News Talk

02:34 min | 2 years ago

"international monetary fund" Discussed on KVNT Valley News Talk

"I would love to see how much money the fund would build oh i thought i had it here i just put google and how much we pay involuntary taxes seventy three billion you know that thing i really no way no they're talking about the lottery like no no no no no no i got to see how much that fund actually get a new national lottery and the money would pay for the wall the poor people right well i mean that was the very very quickly here that was what we started off the show with today was i'm going to bring it up now you just reminded me of that where mayor bloomberg was was former mayor bloomberg of new york city was on a panel discussion with christine lagarde managing director of the international monetary fund and he was talking about taxes on the poor and he says well some people say well taxes are regressive but in this case yes they are that's a good thing about them because the problem is that people don't have a lot of money and so higher taxes should have a bigger impact on their behavior and how they deal with themselves so i listened to people saying oh we don't wanna tax the poor well we want the portal live longer so that they can get an education and enjoy life and that's why you do want to do exactly what a lot of people say you don't want to do right yeah control you we want to control poor poor people don't make a lot of money so their taxes should be higher then we can control them more right we can push them or just take their money oh well that's one of the things that came out i read about a couple of pieces on gambling now and they're saying well okay now poor people pay more in taxes which is what and this is a great point which is what though the the socialist government wants they're looking for any type of form of revenue think about it even and and they talked about a couple of these op ed pieces.

google mayor bloomberg christine lagarde international monetary fund socialist government new york managing director
"international monetary fund" Discussed on KARN 102.9

KARN 102.9

02:25 min | 2 years ago

"international monetary fund" Discussed on KARN 102.9

"I would love to see how much money the fund would build oh i thought i had it here i just put google and how much we pay involuntary taxes seventy three billion you know that thing i'm like really no way no they're talking about the lottery no no no no no no i see how much that that fund actually get a new national lottery and the money would pay for the wall the poor people right well i mean that was the a very very quickly here that was what we started off the show with today was i'm going to bring it up now you just reminded me of that where mayor bloomberg was was a former mayor bloomberg of new york city was on a panel discussion with christine lagarde managing director of the international monetary fund and he was talking about taxes on the poor and he says well some people say well taxes are regressive but in this case yes they are that's a good thing about them because the problem is that people don't have a lot of money and so higher taxes should have a bigger impact on their behavior and how they deal with themselves so i listen to people saying oh we don't wanna tax the poor well we want the poor to live longer so that they can get an education and enjoy life and that's why you do want to do exactly what a lot of people say you don't want to do right yeah why i mean that's control you we want to control poor poor people don't make a lot of money so their taxes should be higher right then we can control them more right we can push them or just take their money oh well that's one of the things that came out i read about a couple of pieces on gambling now on they're saying well okay now poor people pay more in taxes which is what and this is a great point which is what though the.

google mayor bloomberg christine lagarde international monetary fund new york managing director
"international monetary fund" Discussed on KBOI 670AM

KBOI 670AM

02:30 min | 2 years ago

"international monetary fund" Discussed on KBOI 670AM

"No why would i do that i would love to see how much money the fund would build oh i thought i had it here i just put google and how much we pay involuntary taxes seventy three billion you know that thing i'm like really no way no they're talking about the lottery no no no no no i got to see how much that fund actually get a new national lottery and the money would pay for the wall four people right well i mean that was the a very very quickly here that was what we started off the show with today was i'm going to bring it up now you just reminded me of that where mayor bloomberg was was former mayor bloomberg of new york city was on a panel discussion with christine lagarde managing director of the international monetary fund and he was talking about taxes on the poor and he says well some people say well taxes are regressive but in this case yes they are that's a good thing about them because the problem is that people don't have a lot of money and so higher taxes should have a bigger impact on their behavior and how they deal with themselves so i listen to people say oh we don't wanna tax the poor well we want the poor to live longer so that they can get an education and enjoy life and that's why you do want to do exactly what a lot of people say you don't want to do right wow wow control you we want to control poor poor people don't make a lot of money so their taxes should be higher right then we can control the more right we can push them or just take their money oh well that's one of the things that came out i read about a couple of pieces on gambling now and they're saying well okay now poor people pay more in taxes which is what and this is a great point which is what the.

google mayor bloomberg christine lagarde international monetary fund new york managing director
"international monetary fund" Discussed on WDRC

WDRC

02:39 min | 2 years ago

"international monetary fund" Discussed on WDRC

"Why would i do that i would love to see how much money the fund would build l comes on i thought i had it here i just i put google and how much we pay involuntary taxes seventy three billion you know that thing i'm like really no way no they're talking about the lottery no no no no no no i get to see how much that fund actually get a new national lottery and the money would pay for the wall the poor people right well i mean that was the a very very quickly here that was what we started off the show with today was i'm going to bring it up now you just reminded me of that where mayor bloomberg was was former mayor bloomberg of new york city was on a panel discussion with christine lagarde he managing director of the international monetary fund and he was talking about taxes on the poor and he says well some people say well taxes are regressive but in this case yes they are that's a good thing about them because the problem is that people don't have a lot of money and so higher taxes should have a bigger impact on their behavior and how they deal with themselves soren listened to people saying oh we don't wanna tax the poor well we want the poor live longer so that they can get an education and enjoy life and that's why you do want to do exactly what a lot of people say you don't want to do right yeah i mean that control you we want to control poor poor people don't make a lot of money so their taxes should be higher right then we can control the more right we can push them or just take their money oh well that's one of the things that came out i read about a couple of pieces on the gambling now and they're saying well okay now poor people pay more in taxes which is what and this is a great point which is what though the the socialist government wants they're looking for any type of form of revenue think about it even and and they talked about a couple of op ed pieces.

google mayor bloomberg christine lagarde international monetary fund socialist government new york managing director soren
"international monetary fund" Discussed on KSFO-AM

KSFO-AM

02:50 min | 2 years ago

"international monetary fund" Discussed on KSFO-AM

"Why would i do that i would love to see how much money the fund would build l camps i thought i had it here i just put google and how much we pay involuntary taxes seventy three billion you know that thing i'm like really no way no they're talking about the lottery like no no no no no i get to see how much that that fund actually do get a new national lottery and the money would pay for the wall the four people right well i mean that was the a very very quickly here that was what we started off the show with today wasn't going to bring it up now you just reminded me of that where mayor bloomberg was was former mayor bloomberg of new york city was on a panel discussion with christine laguardia managing director of the international monetary fund and he was talking about taxes on the poor and he says well some people say well taxes are regressive but in this case yes they are that's a good thing about them because the problem is that people don't have a lot of money and so higher taxes should have a bigger impact on their behavior and how they deal with themselves so are listened to people saying we don't wanna tax the poor well we want the poor to live longer so that they can get an education and enjoy life and that's why you do want to do exactly what a lot of people say you don't want to do right wow wow i mean that's intro you we want to control poor poor people don't make a lot of money so their taxes should be higher right then we can control them more right we can push them or just take their money oh well that's one of the things that came out i read about a couple of pieces on gambling now and they're saying well okay now poor people pay more in taxes which is what and this is a great point which is what though the the socialist government wants they're looking for any type of form of revenue think about it even and they talked about a couple of days op ed pieces a variety that's matt in one specific one i wish i could claim credit for for myself but we have talked about it but they said you know even the drug taxes it's a majority of.

google mayor bloomberg christine laguardia international monetary fund socialist government new york managing director
"international monetary fund" Discussed on KSFO-AM

KSFO-AM

02:25 min | 2 years ago

"international monetary fund" Discussed on KSFO-AM

"I would love to see how much money the fund would build okay i thought i had it here i just put google and how much we pay involuntary taxes seventy three billion you know that thing really no way no they're talking about the lottery okay no no no no i get to see how much that fund actually who get a new national lottery and the money would pay for the wall the poor people right well i mean that was the a very very quickly here that was what we started off the show with today was i'm going to bring it up now you just reminded me of that where mayor bloomberg was was a former mayor bloomberg of new york city was on a panel discussion with christine lagarde managing director of the international monetary fund and he was talking about taxes on the poor and he says well some people say well taxes are regressive but in this case yes they are that's a good thing about them because the problem is that people don't have a lot of money and so higher taxes should have a bigger impact on their behavior and how they deal with themselves so i listen to people saying oh we don't wanna tax the poor well we want the poor to live longer so that they can get an education and enjoy life and that's why you do want to do exactly what a lot of people say you don't want to do right wow wow i mean we want to control poor poor people don't make a lot of money so their taxes should be higher right then we can control them more right we can push them or just take their money oh well that's one of the things that came out i read about a couple of pieces on you know gambling now and they're saying well okay now poor people pay more in taxes which is what and this is a great point which is what though the.

google mayor bloomberg christine lagarde international monetary fund new york managing director
"international monetary fund" Discussed on WTMJ 620

WTMJ 620

02:13 min | 2 years ago

"international monetary fund" Discussed on WTMJ 620

"I would love to see how much money the fund would build oh i thought i had it here i just put google and how much we pay involuntary taxes seventy three billion you know that thing i'm like really no way no they're talking about the lottery no no no no no i got to see how much that fund actually get a new national lottery and the money would pay for the wall right well i mean that was the a very very quickly here that was what we started off the show with today i'm going to bring it up now you just reminded me of that where mayor bloomberg was was a former mayor bloomberg of new york city was on a panel discussion with christine lagarde managing director of the international monetary fund and he was talking about taxes on the poor and he says well some people say well taxes are regressive but in this case yes they are that's a good thing about them because the problem is that people don't have a lot of money and so higher taxes should have a bigger impact on their behavior and how they deal with themselves so i listen to people saying oh we don't wanna tax the poor well we want the poor live longer so that they can get an education and enjoy life and that's why you do want to do exactly what a lot of people say you don't want to do right yeah wow i control you we want to control poor poor people don't make a lot of money so their taxes should be higher right then we can control the more right we can push them or just take their money oh well that's one.

google mayor bloomberg christine lagarde international monetary fund new york managing director
"international monetary fund" Discussed on KARN 102.9

KARN 102.9

02:10 min | 2 years ago

"international monetary fund" Discussed on KARN 102.9

"I would love to see how much money the fund would build oh i thought i had it here i just put google and how much we pay involuntary taxes seventy three billion you know that thing like really no way no they're talking about the lottery okay no no no no no i get to see how much that fund actually get a new national lottery and the money would pay for the wall the four people right well i mean that was the a very very quickly here that was what we started off the show with today was i'm going to bring it up now you just reminded me of that where mayor bloomberg was was a former mayor bloomberg of new york city was on a panel discussion with christine lagarde managing director of the international monetary fund and he was talking about taxes on the poor and he says well some people say well taxes are regressive but in this case yes they are that's a good thing about them because the problem is that people don't have a lot of money and so higher taxes should have a bigger impact on their behavior and how they deal with themselves so i listened to people saying oh we don't wanna tax the poor well we want the poor to live longer so that they can get an education and enjoy life and that's why you do want to do exactly what a lot of people say you don't want to do right yeah i mean control you we want to control poor poor people don't make a lot of money so their taxes should be higher right then we can control them more right we can push them or just take their money.

google mayor bloomberg christine lagarde international monetary fund new york managing director
"international monetary fund" Discussed on KVNT Valley News Talk

KVNT Valley News Talk

02:24 min | 2 years ago

"international monetary fund" Discussed on KVNT Valley News Talk

"I would love to see how much money the fund would build oh i thought i had it here i just put google and how much we pay involuntary taxes seventy three billion you know that thing i'm like really no way no they're talking about the lottery it's like no no no no no no i got to see how much that fund actually get a new national lottery and the money would pay for the wall the poor people right well i mean that was the a very very quickly here that was what we started off the show with today wasn't going to bring it up now you just reminded me of that where mayor bloomberg was was former mayor bloomberg of new york city was on a panel discussion with christine lagarde he managing director of the international monetary fund and he was talking about taxes on the poor and he says well some people say well taxes are regressive but in this case yes they are that's a good thing about them because the problem is that people don't have a lot of money and so higher taxes should have a bigger impact on their behavior and how they deal with themselves so i listened to people saying oh we don't wanna tax the poor well we want the poor to live longer so that they can get an education and enjoy life and that's why you do want to do exactly what a lot of people say you don't want to do right yeah wow control you we want to control poor poor people don't make a lot of money so their taxes should be higher right then we can control the more right we can push them or just take their money oh well that's one of the things that came out i read about a couple of pieces on gambling now and they're saying well okay now four people pay more in taxes which is what and this is a great point which is what.

google mayor bloomberg christine lagarde international monetary fund new york managing director
"international monetary fund" Discussed on KBNP AM 1410

KBNP AM 1410

02:18 min | 2 years ago

"international monetary fund" Discussed on KBNP AM 1410

"Newburyport and thirteen thirty in metro west the south shore and admiral street is is the author of seapower the history and geopolitics of the world's oceans and lisa abramowicz you just want to come back to something that would not talked about with that roster visas but the you mentioned earlier in the broadcast i thought was very interesting and pertinent is the international monetary fund were our own tom keene and francine locker are bringing us ongoing coverage at the international monetary fund is projecting that the us debttogdp ratio is projected to widen to over a hundred and fifteen percent of gdp by twenty twenty three and while at the same time if you look for poster children that hap czar sort of always cast as profligate italy is actually gonna have a narrower debt to gdp yeah i mean this sort of just exceleron the conversation that a lot of people are having which is that the recent tax cuts really seemed to accelerate the deficit in a way that is unsustainable without some other cuts and of course the republicans right now don't seem to have the support that they need you to see what happens after the midterm elections to pass some of the massive cuts to spending that they want to do to right size the deficit so it's it's definitely a pressing concern and frankly this is why we've seen such a high rise or part of the reason why we've seen such a rise in us yields even as a benchmark rates in europe have remained so steady and that's that is a relative expression because we're talking about three point zero one percent for thirty year us treasury and also just to tie this into what we're talking about with admiral stavridis all of those things that he described while well intentioned in terms of the strategic interests of the united states in the middle east and specifically in syria cost money right and if your debt to gdp is over one hundred and fifteen percent and you have entitlement programs former federal reserve chairman alan greenspan was talking about with tom keene earlier in the broadcast that leaves you a little less money in order to deploy those military forces meanwhile on the flip side there is a question of just how positive the consumer outlook will be given the tax cuts the.

tom keene united states alan greenspan international monetary francine locker twenty twenty italy europe middle east syria chairman fifteen percent zero one percent thirty year
"international monetary fund" Discussed on AP News

AP News

02:02 min | 3 years ago

"international monetary fund" Discussed on AP News

"Day schools community centers in synagogues around the united states and canada most were attributed to a teenage israeli american hacker but thompson admitted he claimed his ex girlfriend had planted bombs he agreed not to contest a sentence of forty six months or less thompson who was fired by the online publication the intercept for making up stories has been in jail since his arrest in march one and levinson new york the international monetary fund has urged china to speed up reform this meant to slow surging growth of debt that's fueling concern about the stability of its financial system the imf first deputy managing director david lipton said tuesday after meeting with chinese officials the reform process must accelerate to avoid a sharp adjustment and this slowing economy china faces mounting warnings that its rapidly rising debt loads since the two thousand eight financial crisis could depress economic growth or threaten the health of banks lipton said the imf believes beijing also needs to move faster in encouraging expansion of domestic consumption instead of trade and investment and to increase the role of market forces a major australian television networks appointed voluntary administrators doesn't struggles with debt shrinking advertising revenue ten that works board decided to appoint the three administrators wednesday the move comes after two of the networks billionaire backers said they weren't prepared to guarantee of new two hundred fifty million australian dollar or a hundred eighty nine billion you us dollar bank loan when the current multimilliondollar loan expires in december those billionaire backers are bruce gordon and lackland murdoch the slums of news corp chief executive rupert murdoch terms that in a statement to the australian securities exchange that the decisions of murdoch and gordon left the directors with no choice but to appoint administrators the administrators will decide whether australia's third most popular commercial television network could continue trading or should be shut down hey dc did you know that the average person spent hours a week at the grocery store but you're not an average person are you there's a better way to get fresh groceries and called fresh direct shop.

television network shut down rupert murdoch chief executive multimilliondollar dollar bank advertising revenue david lipton deputy managing director levinson thompson canada united states australia gordon murdoch australian securities exchange television networks beijing financial crisis financial system china international monetary fund york forty six months