Tuesday, 16 October, 2018

IMF chief economist not concerned about China’s ability to defend currency

PM Khan talks to media persons in Lahore. —DawnNewsTV PM Khan talks to media persons in Lahore. —DawnNewsTV
Jean Garcia | 09 October, 2018, 13:57

Foreign currency reserves have plunged 40% in 2018 to the lowest in nearly four years, while the nation is running twin current account and budget deficits of more than 5% of gross domestic product. "Any sharp reversal for emerging markets would pose a significant threat to advanced economies".

The fund left its 2018 U.S. forecast unchanged but cut its expectation for next year, citing the impact of the trade conflict.

He said the talks would be held for "such a programme, a stabilisation, a recovery programme, on which basis we could overcome this financial crisis".

The dominant USA economy has been shielded so far from the ill effects of the trade war, thanks to stimulus through tax cuts and spending policies, but that will wear off by 2020, the International Monetary Fund said. It called for a tightening of monetary policy, a move the Reserve Bank of India did not take when it kept interest rates unchanged last week.

In the last 10 months, the government has let the rupee weaken by around 18% in four rounds to Rs124.25 to the United States dollar compared to Rs105.50 in mid-December 2017.

Brazil will see a 0.4 percentage-point drop in GDP growth to 1.4 percent for 2018 as a nationwide truckers strike paralyzed much of the economy.

The IMF's cut to its outlook was broad-based.

Limo that crashed in NY , killing 20, failed inspection
The remainder of the group were close school and neighborhood friends, including another newlywed couple, Erin and Shane McGowan . Adam Jackson worked as a deputy commissioner at the Montgomery County Board of Elections, according to his Facebook page.

With US GDP growth expected to drop from 2.9 per cent this year to 1.8 per cent by 2020, the International Monetary Fund also warned about the potential risk of an "inflation surprise", fuelled by the same tax cuts and rising spending used to cushion the impact from the trade war.

The Pakistani government has also told Beijing it wants to reconsider some of the projects it signed up to under the US$62 billion China-Pakistan Economic Corridor.

Global trade is projected to expand by 4.2 percent this year, six tenths less than expected in July and almost a full point lower than the forecast in April.

Global trade is projected to expand by 4.2 per cent this year - 0.6 per cent less than expected in July - dropping to four per cent next year. "For an economy that has become addicted to foreign loans and bailouts, the future is very much like the past", said Uzair Younus, a South Asia director at Washington-based consultancy Albright Stonebridge Group LLC.

The worldwide organisation said that inflation is expected to pick up in India due to a narrowing output gap, and the effects of exchange rate depreciation and rising fuel prices. Core inflation, which excludes volatile items such as energy, will vary from country to country, it said. Over the medium term, growth is expected to gradually slow to 5.6 per cent as the economy continues to make the transition to a more sustainable growth path with continued financial de-risking and environmental controls, it noted.

Most of the "meager gains" from growth have gone to the well off, fueling support for protectionism and anti-establishment leaders, said Mr Obstfeld. "Inclusive fiscal policies, educationalinvestments, and ensuring access to adequate health care can reduce inequality and are key priorities", he said.

Recommended

Betting suspended on The Everest Betting suspended on The Everest Racing NSW stewards have suspended betting on The Everest after conducting the barrier draw in private on Tuesday morning. Police are planning to upgrade security measures around the Opera House in response to potentially violent protests.

‘Venom’ Launches to $80 Million, ‘A Star Is Born’ Draws $42.6 Million ‘Venom’ Launches to $80 Million, ‘A Star Is Born’ Draws $42.6 Million Falling to third place this weekend is "Smallfoot" bringing in an estimated $14.9 million in its sophomore weekend. In more family-friendly viewing, high-profile animation Small Foot also lands on our shores on Friday.

Google Hardware Event Tomorrow: 7 Products Expected to Be Unveiled Google Hardware Event Tomorrow: 7 Products Expected to Be Unveiled The new wireless pad is said to come with the 2A/9V rating similar to Samsung's take on wireless charging. The Google Pixel phone line is still relatively new with their third generation launching tonight in NY .

Lacazette hails Arsenal strike partnership with ‘brother’ Aubameyang Lacazette hails Arsenal strike partnership with ‘brother’ Aubameyang Alexander Lacazette and Pierre-Emerick Aubameyang scored twice while Aaron Ramsey also got himself on the scoresheet. Whisper it quietly, but Arsenal have been impressing this season as the new era of Unai Emery gets into full swing.

India crush West Indies for their biggest ever test victory India crush West Indies for their biggest ever test victory West Indies made 181 in its first innings after resuming on 94-6 Saturday and was asked to follow on. Easy conditions or not, you still have to go out there and back yourself to dominate.

Opponents vow Sen. Collins will pay price for Kavanaugh vote Opponents vow Sen. Collins will pay price for Kavanaugh vote The FBI conducted a supplemental investigation into Kavanaugh's background but found no one who could corroborate her account. She said her flight was delayed but she was determined return to ME for the dedication of a bridge honoring the late Cpl.

Ajayi done for season with reported torn ACL Ajayi done for season with reported torn ACL Le'Veon Bell solves three problems, instantly: Pass protection (good), pass catching (great), rushing (great). Wendell Smallwood , Corey Clement , and Josh Adams will compete for increased carries in Ajayi's absence.

#ChargeGate and 5GHz WiFi fix for iPhone XS is out now #ChargeGate and 5GHz WiFi fix for iPhone XS is out now But this prevented subtitles from working on some video apps, and also created an issue where Bluetooth might not work. Users can download the latest update by navigating to Settings General Software Update on their iPhone or iPad.

Pixel Slate: first Images of Google’s new tablet leak Pixel Slate: first Images of Google’s new tablet leak As indicated by the report , the Pixel Slate dons a showcase with 3:2 aspect ratio and bears a back and a front camera. A Chrome OS tablet was one of the rumored devices that will show up, and it appears that the rumors are indeed true.

Delingpole: Failing IPCC Ramps up Climate Hysteria with New Doom Litany Report There's only twelve years left to avert climate change disaster, and Scott Morrison's still throwing around words like "nonsense". The Arctic could experience ice-free summers once every decade or two in a 2 °C world, versus once in a century at 1.5 °C.

Landmark UN climate report warns time quickly running out Landmark UN climate report warns time quickly running out The report was commissioned by world leaders as a part of the 2015 Paris Agreement , a global pact to battle global warming. Avoiding going even higher will require significant action in the next few years.

Sevilla go top of LaLiga ahead of Barcelona, Real Madrid Sevilla go top of LaLiga ahead of Barcelona, Real Madrid There are many people waiting for me and want to go for me. "Everyone has their style, we play, we would have liked to have won". In the last 10 seasons nobody has scored more from outside the area than he has - 57 goals - across the five big leagues.

Drew Brees "locked in" on Washington as furor over record swirls Drew Brees The Saints (4-1) now have won four consecutive games and get a week of rest before they head to Baltimore to take on the Ravens. Next season he's likely to become the record-holder in attempts ( Brett Favre has 10,169) and touchdowns (Manning has 539).

Pro-Russia party ahead in Latvia election Pro-Russia party ahead in Latvia election And the New Conservative Party is running on a strong anti-corruption platform but has struggled to gain voter support. Polling stations close at 1700 GMT with a preliminary official result expected around 0100 GMT Sunday morning.

Kavanaugh a step closer to lifetime Supreme Court post after Senate vote Kavanaugh a step closer to lifetime Supreme Court post after Senate vote Jeff Flake, R-Ariz., who has repeatedly battled with Trump and will retire in January, wavered but also backed Kavanaugh. Also voting to move the nomination forward was Democratic senator Joe Manchin , who had been undecided.