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Cocktail of crises to scar the global economic outlook

Location:

INTERNATIONAL

A global recession now looks as likely as not after the IMF warned that the “worst is yet to come” for the world economy

Egypt's debt obligations will climb further

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EGYPT

Egypt is set to acquire another IMF loan to deal with the impacts of rising US interest rates and the Ukraine conflict

Global spending needs will undermine austerity call

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INT

The IMF urges “decisive fiscal consolidation” to guard public budgets and rebuild buffers, but spending needs will rise

A resolution to Ghana’s debt crisis may take time

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GHANA

President Nana Akufo-Addo on July 1 announced that Ghana would seek IMF assistance after months of refusing to do so

Economy will be top priority for Pakistan’s government

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PAKISTAN

Over a month after the general election, a new cabinet is in place

Tajikistan hopes to borrow its way out of debt trouble

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TAJIKISTAN

The finance ministry insists its temporary debt relief request does not imply distress

Global debts will be costlier to pay off in 2017-18

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INT

The IMF Financial Stability Report urges policymakers to tackle debts that stand at a record high 225% of world GDP

Debt strains will rise in Middle East and North Africa

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MIDDLE EAST/NORTH AFRICA

External debt indicators have worsened in past decade in some Middle Eastern and North African countries

Rising Argentina poverty brings long-term challenges

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ARGENTINA

Urban poverty rose from 40.1% in the first half of 2023 to 41.7% in the second, with indigence up from 9.3% to 11.9%

China deals show Sri Lanka’s economic short-termism

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SRI LANKA

Sri Lanka has recently agreed a currency swap with China and secured a loan from its key partner