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What the IMF’s plan to disburse $650bn in special drawing rights means for poor countries

Jul 17th 2021 WASHINGTON, DC THE IMF has not exactly stood on the sidelines during the covid-19 pandemic. Since the onset of the crisis, it has extended loans worth about $130bn to 85 countries and provided debt-service relief to some poor economies. Yet given the severity of the pandemic and the IMF’s ample balance-sheet—its lending […]

Analysis: When Erdogan’s Turkish economic miracle began failing

Election test set for 2023, Turkish Republic’s centenary The year 2013 marked turnaround after a decade of gains Measures of equality, prosperity, employment headed down President’s voter base underpinned by health and other gains ISTANBUL, July 15 (Reuters) – Five years after President Tayyip Erdogan saw off a coup, his chances of extending his rule […]

China’s economic recovery is flashing some warning signs

China is releasing its latest quarterly economic growth figures on Thursday, offering clues about how the world’s second largest economy is continuing to recover from the coronavirus pandemic. In the first quarter of 2021, China posted record GDP growth of 18.3% compared to a year prior — although that was largely because the country experienced […]

Gold Price Prediction – Prices Rose as the Dollar Slid and U.S. Yields Dropped

Gold prices moved higher on Wednesday following a sharper than expected U.S. PPI report. This large rise in wholesale prices was offset by comments from Jerome Powell, who said that the economy needs to improve more before the central bank changes its accommodative policy. U.S. yields tumbled following the Fed Chairs’ comments. These move-in yields […]

Bank of America profit surges on reserve release, revenue slips

FILE PHOTO: A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. REUTERS/Carlo Allegri Bank of America Corp reported a 173% jump in second-quarter profit on Wednesday as it released reserves it had set aside last year at the height of the pandemic, but […]

China GDP: five things to keep an eye on

China’s first-quarter economic surge was primarily a reflection of how hard the world’s second-largest economy was hit by the Covid-19 pandemic early last year, rather than the strength of its recovery. While gross domestic product grew more than 18 per cent year on year between January and March, its increase over the final quarter of […]

Report highlights economic impact of planned Amazon warehouse in Council Bluffs

COUNCIL BLUFFS, Iowa (KMTV) – Advanced Southwest Iowa released a report on Tuesday highlighting the economic impacts of the recently announced Amazon warehouse in Council Bluffs. According to the report, during the year of construction, economic activity will support 127 construction jobs and an additional 34 jobs in the community. Once the site is fully […]

The surging delta variant brings new uncertainty to the economic recovery, experts warn

Traders at the New York Stock Exchange. Source: NYSE LONDON — The rapid spread of the delta Covid-19 variant has clouded the growth outlook, strategists are warning, but it’s too soon to tell whether markets will weather the storm. France, the Netherlands and Spain all announced new restrictions on Monday in a bid to curb […]

Dollar stays tight, building up strength for breakout

Moderately positive stock market dynamics yesterday was combined with a slight 0.1% increase in the dollar index to 92.2 after two days of decline from 92.8. The Dollar Index is now near the upper end of the converging trading range since last October. Also, a pullback is forming on the daily charts after touching the […]

Cuba arrests activists as government blames unrest on U.S. interference

Cuba’s President Miguel Diaz-Canel talks to the media, in San Antonio de los Banos, Cuba July 11, 2021. REUTERS/Alexandre Meneghini Streets quiet after unusual protests at weekend At least 100 arrested – rights group Cuban government blames U.S. for sanctions, backing opposition U.S. stands with Cuban people, says Biden HAVANA, July 12 (Reuters) – Cuba […]