IMF Managing Director Kristalina Georgieva says one-third of world’s economies expected to be in recession this year. This year will be tougher than 2022 for most of the global economy as the United States, European Union and China see slowing growth, the head of the International Monetary Fund (IMF) has warned. IMF Managing Director Kristalina...Read More

By Joseph Adinolfi The U.S. dollar’s status as one of the few dependable safe havens for investors during this year’s market mayhem started to erode during the fourth quarter, even as the greenback posted its biggest yearly advance since 2015. For much of the year, the dollar’s strength was blamed for helping to weigh on...Read More

By Arabinda Basistha The rate at which Americans are saving money has dipped close to an all-time low, according to the Bureau of Economic Analysis. The personal savings rate was 2.3% as of October, down from 7.3% a year earlier. It’s the lowest since July 2005, when the rate hit a record low of 2.1%....Read More

Noun: collective term for interlocking and simultaneous crises of an environmental, geopolitical and economic nature Shortly before October’s IMF and World Bank meetings in Washington DC, former US Treasury secretary Lawrence Summers surveyed the global scene. “I can remember previous moments of equal or even greater gravity for the world economy,” he said. “But I...Read More

The size of an economy is measured by GDP (Gross Domestic Product). GDP is calculated by adding up the value of all goods and services produced within a country’s borders in a given year. This includes the value of goods and services produced by both the government and the private sector. GDP is typically measured...Read More

For most investors, 2022 has been a year to forget. Crumbling equities were bad enough, but with bonds also suffering from a surge in inflation and an aggressive response from central banks, fund managers were often left with nowhere to hide. Flinty hedge funds able to bet on the dollar and against government debt are...Read More

The unemployment rate has hovered at 3.7 percent for months. But it is the TikTok-famous “quiet quitting” and live-tweeted resignations that really explained what was going on in America’s job market in 2022, a moment of renewed worker power and remarkable upheaval. While government data can tell us that the world is rapidly changing three...Read More

Just as a corporate balance sheet can provide insights into a company’s financial health, a “global balance sheet” (GBS), tallying the assets and liabilities of governments, corporations, households, and financial institutions, can do the same for the world economy. That logic drove the McKinsey Global Institute (MGI) to begin compiling, and regularly updating, a GBS...Read More

Very few people—including the most-informed economists—would have predicted the biggest economic events of this past year. They included the energy crisis set off by Russia’s invasion of Ukraine and the inflation stoked, in part, by China’s continued struggles with the COVID-19 pandemic. But if some economic stories are the product of unforeseeable shocks, others are...Read More

MUMBAI, Dec 30 (Reuters) – The Indian rupee ended 2022 as the worst-performing Asian currency with a fall of 11.3%, its biggest annual decline since 2013, as the dollar rocketed on the U.S. Federal Reserve’s aggressive monetary policy stance to tame inflation. The rupee finished the year at 82.72 to the U.S. currency, down from...Read More