{
}
Global finance leaders expressed deep concerns over the potential return of Donald Trump in the upcoming U.S. presidential election, fearing it could trigger a U.S.-EU trade war with significant tariff increases and increased debt. Discussions at the IMF and World Bank meetings highlighted worries about the impact on the global financial system and setbacks in climate change efforts due to a shift towards fossil fuels.
Pakistan has requested an additional 10 billion yuan (USD 1.4 billion) loan from China, having already utilized the existing 30 billion yuan (USD 4.3 billion) trade facility. Finance Minister Muhammad Aurangzeb sought to raise the currency swap agreement limit to 40 billion yuan during discussions with China's Vice Minister of Finance, Liao Min. This request marks another attempt to increase the debt limit, which has been declined by Beijing in the past.
Union Finance Minister Nirmala Sitharaman indicated that a soft landing for the global economy is increasingly likely due to coordinated actions among countries and financial institutions, which have helped keep inflation in check. However, she cautioned that while economies are stabilizing, they are not yet experiencing significant growth, with moderated global trade and weak demand in advanced economies hindering a swift recovery.
German Finance Minister Christian Lindner warned of potential retaliation if the U.S. initiates a trade war with the EU, emphasizing that such conflicts yield no winners. He highlighted the growing importance of the U.S. as a trading partner for Germany and cautioned against escalating tensions, particularly in light of proposed tariffs that could harm the German economy. Lindner urged diplomatic efforts to prevent a trade conflict, noting that the real issue lies with U.S.-China trade relations.
The World Bank has warned that 800 million young people could face unemployment over the next decade, potentially destabilizing societies and perpetuating poverty. With only 420 million jobs expected to be created, there will be a significant shortfall for the 1.2 billion youth entering the workforce.
Lebanon's economy minister reported that the ongoing conflict between Israel and Hezbollah has already inflicted $20 billion in damages on the country, a figure expected to rise significantly if Israel expands its attacks on critical infrastructure. With Lebanon's GDP around $18 billion in 2023, the economic impact could potentially triple or quadruple.
President Xi Jinping's recent economic stimulus package has drawn skepticism from global leaders in Washington, who are calling for more comprehensive measures to address China's growth challenges. US Treasury Secretary Janet Yellen criticized the initiative for not addressing overcapacity and weak domestic demand, while IMF director Kristalina Georgieva warned of potential growth dropping below 4% without necessary reforms. Concerns about the clarity and effectiveness of the fiscal package were echoed by other finance officials, highlighting a lack of confidence in the current measures.
President Xi Jinping's latest economic stimulus package has drawn skepticism from global leaders in Washington, who are calling for more comprehensive measures to rebalance China's growth. Central bank governors and finance ministers expressed doubts about recent rate cuts and support for the housing sector, highlighting a lack of clarity regarding the fiscal package as investors await approval from China's top legislators for further stimulus.
World financial leaders are convening in Washington to address pressing issues like debt, inflation, and interest rates, but the shadow of Donald Trump's potential return to the White House dominates discussions. As the vote approaches in less than two weeks, his influence is a recurring theme at both public seminars and private gatherings.
Angola's government is in discussions with the International Monetary Fund regarding a potential new lending program tailored to the country's needs. Finance Minister Vera Daves de Sousa indicated that options are being evaluated, with technical assessments to precede political discussions, although differences on capital expenditures remain.
International Bank For Reconstruction And Development - World Bank Trust Funds
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
global finance leaders express concerns over potential trump presidency impacts
United States Dollar
International Monetary Fund FUND
International Bank For Reconstruction And Development - World Bank Trust Funds
USA
DEU
Donald Trump
Kamala Harris
Christian Lindner
Show more
07:09 28.10.2024
Pakistan seeks additional 10 billion yuan loan from China amid financial crisis
Chinese Yuan
IMF
The Express Tribune
International Bank For Reconstruction And Development - World Bank Trust Funds
CHN
PAK
Liao Min
Muhammad Aurangzeb
Show more
10:33 27.10.2024
global economy may achieve soft landing amid cautious optimism says finance minister
United States Dollar
International Monetary Fund FUND
Centre for Strategic and International Studies (CSIS)
International Bank For Reconstruction And Development - World Bank Trust Funds
IND
USA
Nirmala Sitharaman
Show more
05:33 26.10.2024
german finance minister warns of trade war retaliation against us policies
United States Dollar
Chinese Yuan
Euro
Destatis
Free Democratic Party
International Monetary Fund FUND
International Bank For Reconstruction And Development - World Bank Trust Funds
Social Democratic Party
USA
DEU
CHN
Christian Lindner
Gita Gopinath
Janet Yellen
Olaf Scholz
Show more
17:55 25.10.2024
world bank warns of looming job crisis for 800 million youth
United States Dollar
International Bank For Reconstruction And Development - World Bank Trust Funds
Ajay Banga
15:16 25.10.2024
Lebanon faces economic losses of 20 billion from Israel Hezbollah conflict
United States Dollar
International Bank For Reconstruction And Development - World Bank Trust Funds
ISR
LBN
Amin Salam
12:08 25.10.2024
global leaders express skepticism over china's economic stimulus measures
United States Dollar
International Monetary Fund FUND
International Bank For Reconstruction And Development - World Bank Trust Funds
BRA
USA
CHN
Kristalina Georgieva
Fernando Haddad
Janet Yellen
Show more
05:01 25.10.2024
xi's economic stimulus faces skepticism from global leaders in washington
International Monetary Fund FUND
International Bank For Reconstruction And Development - World Bank Trust Funds
CHN
Donald Trump
Xi Jinping
Joe Biden
Show more
04:00 25.10.2024
world financial leaders discuss trump's impact ahead of crucial vote
International Monetary Fund FUND
International Bank For Reconstruction And Development - World Bank Trust Funds
USA
00:11 25.10.2024
angola explores imf lending options amid ongoing negotiations
International Monetary Fund FUND
International Bank For Reconstruction And Development - World Bank Trust Funds
AGO
Vera Daves de Sousa
14:33 24.10.2024
Trending
Subcategory
Corporate News
Industry Trends
Startups & Entrepreneurship
Retail and Consumer Goods
Supply Chain Management
Global Trade Developments
Stock Market Updates
Government Economic Policies
Industry Mergers & Acquisitions
Energy Sector Developments
Workplace Trends
Funding Rounds & Investments
CEO Changes
AI Applications
Private Equity Deals
Emerging Startups
Fintech Startups
AI Innovations
Global Financial Events
Central Bank Actions
Countries:
Companies:
Apple Inc.
Google Inc.
Tesla, Inc.
Amazon.com, Inc.
Microsoft Corporation
Tesmec S.p.A.
Alphabet Inc.
OpenAI ERC USD
Walmart Inc.
SWIGGY LIMITED
TENCENT
NVIDIA Corporation
Foxconn Technology Co., Ltd.
Hollywood Bowl Group PLC
NASDAQ Composite
Wise plc
Mastercard Inc
Bose Corporation
Mistral 1
Fast Retailing Co., Ltd.
Currencies:
United States Dollar
Indian Rupee
Chinese Yuan
Euro
Japanese Yen
British Pound Sterling
United Arab Emirates Dirham
Vietnamese Đồng
South Korean Won
New Zealand Dollar
Saudi Riyal
Thai Baht
Australian Dollar
Indonesian Rupiah
Singapore Dollar
Omani Rial
Bahraini Dinar
Qatari Riyal
Algerian Dinar
Egyptian Pound
People: