Crypto’s latest big moment is worthy of one big reminder too. The US dollar is still the US dollar, and crypto is, well, just an investment vehicle. Said reminder comes compliments of the International Monetary Fund (IMF), one of the foremost global authorities on payments and financial stability. “Our view is that we have to differentiate between money and assets. When we talk about crypto, we are actually talking about an asset class. It could be backed up and in that sense, more secure and… Source link
Read More »China urges IMF to approve US$1.4 billion Zambia bailout, but told it must reach deal with other lenders
China has urged the International Monetary Fund to approve a US$1.4 billion bailout for Zambia but the fund responded by telling Beijing and other official creditors they must first agree a relief package. Lusaka is seeking a bailout from the IMF and is also in the process of restructuring about US$17.3 billion of external debts, including from its largest bilateral lender – China. In November 2020, it became the first African country to default on some of its dollar-denominated bonds during… Source link
Read More »Stocks little changed as investors weigh flurry of earnings, downgraded IMF forecast
U.S. stocks were little changed Tuesday as investors processed a deluge of earnings reports and a revised forecast from the International Monetary Fund (IMF) indicating the global economy is set to “slow significantly” amid Russia’s invasion of Ukraine. The S&P 500 and Nasdaq each opened near the flatline after both indexes settled at one-month lows at the end of Monday’s session. The Dow Jones Industrial Average also hovered around breakeven. Meanwhile, Treasury yields continued their climb,… Source link
Read More »IMF warns cryptocurrencies may threaten financial stability without regulation
While cryptocurrency has the ability to improve the global payment system, digital coins still pose considerable challenges to market conditions worldwide, the International Monetary Fund warned in a new report on Tuesday. In its latest Global Financial Stability Report, the fund stated that risks stemming from the booming crypto trading and the proliferation of digital coins “appear contained for now,” but they should be monitored closely. As crypto grows in adoption, the potential impact… Source link
Read More »Wave of ‘unrest events’ like Afghanistan may become a drag on global growth: IMF
Soaring COVID-19 infections, combined with mass uprisings around the world, are destabilizing global order — and new research from the International Monetary Fund (IMF) suggests the collective dynamic is likely to hinder a fragile recovery. A working paper published by IMF researchers Luca Antonio Ricci, Metodij Hadzi-Vaskov and Samuel Pienknagura, PhD, recently explored the macroeconomic impact of social unrest, finding that “unrest events” are correlated to a decline in global… Source link
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