International Monetary Fund

IMF Warns Brexit "Uncertainty" Means "Even Lower Growth" For UK, EU

“Brexit has created significant uncertainty and we believe this is likely to dampen growth in the near term, particularly in the U.K. but with repercussions also for Europe and the global economy. Prolonged periods of uncertainty and associated declines in consumer and business confidence would mean even lower growth”

UK Chancellor Osborne Breaks Silence, Fails To Calm Markets; Says In No Rush To Trigger Article 50

While the global market eagerly awaits outgoing UK PM David Cameron's address to Parliament on Monday after a weekend of political turmoil that left Britain looking rudderless following the shock vote to leave the European Union, this morning Chancellor George Osborne made his first statement since the EU referendum in a bid to calm the turmoil in financial markets that has followed the UK’s vote to leave the EU last Thursday.

G-7, Central Bank Governors, Christine Lagarde Issue More Statements To Calm Markets

Showing once again that the world's elite has not learned any lessons from the UK Brexit, instead of focusing on the core issue at hand, namely the deterioration of the living standards of the developed world's middle class, the world's political and financial elite is instead scrambling to calm down global markets, i.e., assuage the fears of the 1%.

IMF Urges Obama To "Tackle Poverty" As It Tells Yellen To Overshoot Inflation Target

In its latest staff statement on the annual analysis of the U.S. economy, the IMF again demonstrated why economists have become the butt of financial jokes, when in the same report it first urged the Fed to "overshoot" its 2% inflation target, clearly unaware of the dramatic shift in sentiment that unorthofox monetary policy no longer works to stimulate inflation, and in fact quite the opposite, while at the same time it cut its US GDP forecast yet again, from 2.4% to 2.2%, and concluded that, drumroll, there is "an urgent need to tackle poverty."

The Scariest "Brexit's Impact On The World" Report Yet

The febrile behavior of financial markets ahead of the United Kingdom’s referendum on June 23 on whether to remain in the European Union shows that the outcome will influence economic and political conditions around the world far more profoundly than Britain’s roughly 2.4% share of global GDP might suggest. There are three reasons for this outsize impact...

Brexit Campaigning Suspended For Second Day, Referendum Vote "In Limbo"

Following the tragic murder of Jo Cox, Brexit campaigning was suspended for a second day on Friday.  Events planned by the two main campaign groups were canceled, while publication of opinion polls and an International Monetary Fund report were delayed until the weekend as tributes were paid to Cox. As Reuters adds, the murder "has thrown a June 23 referendum on European Union membership into limbo."

The Trajectory of Venezuelan Hyperinflation Looks Frighteningly Familiar...

Extreme shortages of food and power continue to ravage the country of Venezuela, and ordinary people have been paying the price. With triple-digit inflation, that “price” is expected to continue to soar even higher. Even scarier is the estimated pace of acceleration – by 2017, the IMF expects Venezuelan hyperinflation to climb to a whopping 1,642%. Our brains have trouble computing numbers of this magnitude, so we created today’s infographic to put things in perspective.