News with the tag "IMF"

Treasury Secretary Scott Bessent on April 28 put the responsibility for reaching a trade agreement on China. He argued China should be liable because it sells five times more to the U.S. than the U.S. sells to them, making their tariffs unsustainable. Bessent’s remarks came amid global tensions over...

An official from the International Monetary Fund (IMF) has confirmed that El Salvador is complying with an agreement to back away from using Bitcoin ( BTC ) as a reserve asset. In a new press briefing , the IMF addresses a question from financial software company Ion Group asking how El Salvador is ...

China promised this week it will hit its 5% growth goal for 2025, even as trade tensions with the US keep getting worse. Finance Minister Lan Fo’an said in Washington that China would roll out “more proactive and effective macro policies” to reach its target and help stabilize the global economy, ac...

UK retail sales recorded a surge of 1.6% for the first quarter of the year, the strongest reading in four years. The figures also provided a 0.08 percentage point boost to the UK’s overall economic output for Q1. The UK reported the best Q1 since 2021 in what may be a boost for the economy, amid ris...

California just overtook Japan in size, putting the U.S. state right behind the United States, China, and Germany on the list of the largest economies on the planet. That information came from the International Monetary Fund and the U.S. Bureau of Economic Analysis on Friday, showing that in 2024, C...

Japan’s government unveiled a package of emergency economic measures to counter the adverse effects of higher tariffs imposed by U.S. President Donald Trump ahead of a second round of bilateral trade negotiations expected next week. The plan includes a 10 yen/liter gasoline subsidy and partial elect...

Trump Administration’s Treasury Secretary Scott Bessent lashed out at the Bretton Woods institutions, stating that the IMF and the World Bank had lost their way. However, Bessent noted that the U.S. would not abandon these institutions, opting to pursue relevant reforms from within instead. Bretton ...

Ken Griffin, a GOP donor, has said that the US has become 20% poorer in four weeks because of the latest tariff hike on global trade partners. This has made the US dollar much less valuable compared to the euro. The dollar measure has lost more than 9% of its value since the beginning of the year. G...

The International Monetary Fund (IMF) has revised its balance of payments standards to incorporate digital assets. In the newly released seventh edition of its Balance of Payments Manual (BPM7), the agency introduces comprehensive guidelines for the first time, integrating digital assets into global...

Exciting news for the crypto world! The International Monetary Fund (IMF), a major player in global finance, has just taken a significant leap into the digital age. For the first time, the IMF is officially incorporating guidance for digital assets into its globally recognized statistical standards....