IMF Warns of ‘Very Serious Repercussions’ if US Defaults on Debt Obligations

IMF Warns of 'Very Serious Repercussions' if US Defaults on Debt ObligationsThe International Monetary Fund (IMF) has warned of “very serious repercussions” to both the U.S. and the global economy if the U.S. defaults on its debt obligations, which could be as soon as June 1. “We are calling on all of the parties to come together, reach consensus, and resolve the matter as quickly as […]

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IMF Says Zimbabwe Gold-Backed Digital Currency a Potential Threat to Financial Stability

The International Monetary Fund has urged Zimbabwean authorities to weigh the benefits versus risks of issuing a gold-backed digital currency. Instead of using gold-backed digital currency to limit the demand for the greenback, the global lender said monetary authorities should consider liberalizing the foreign exchange market. Risks to Macroeconomic and Financial Stability The International Monetary […]

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Brazilian President Lula to Act as BRICS Liaison to Help Argentina, Discusses Credit Line in Brazilian Reals

argentina brazil lula alberto fernandez fmiBrazilian President Luiz Inacio Lula da Silva stated Brazil will serve as a facilitator to try and arrange BRICS bloc assistance for Argentina. Lula stated that the New Development Bank — the BRICS bank — could modify some of its rules to aid Argentina. Also, the two countries are negotiating the establishment of a credit […]

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IMF Chief Warns of More Weaknesses in US Banking Sector — Sees ‘Gradual’ Shift Away From US Dollar

IMF Chief Warns of More Weaknesses in US Banking Sector — Sees 'Gradual' Shift Away From US DollarInternational Monetary Fund (IMF) Managing Director Kristalina Georgieva expects “more vulnerabilities” in the U.S. banking sector amid a growing de-dollarization trend worldwide. “There has been a gradual shift away from the dollar,” the IMF chief acknowledged. U.S. Banking Crisis Continues The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, talked about the U.S. […]

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