News from Around the World

IMF urges creditors to agree sharing of bailout burdens

A growing risk of debt distress in low-income nations has made it crucial that countries agree how any bailout burden should be shared, a senior IMF official warned on Friday.

The comments, in a blog by Martin Muehleisen, director of the IMF’s strategy, policy and review department, reflect deepening concern over a build-up of opaque Chinese lending to developing countries.

IMF warns storm clouds are gathering for next financial crisis

The storm clouds of the next global financial crisis are gathering despite the world financial system being unprepared for the next downturn, the deputy head of the International Monetary Fund has warned.

David Lipton, the first deputy managing director of the IMF, said that “crisis prevention is incomplete” more than a decade on from the last meltdown in the global banking system.

IMF’s New Chief Vows to ‘Fix the Roof’ Before the Storm Hits

Kristalina Georgieva took the helm of the International Monetary Fund this week as its first leader to have lived through one of its stringent economic adjustment programs.

Her homeland of Bulgaria was going through a painful transition from socialism to a market economy in the 1990s, with surging debt and unemployment, a collapsing financial system and high inflation.

Imran Khan Pledges Deep Reforms as Pakistan Nears IMF Deal

Pakistan is close to a deal with the International Monetary Fund after nation’s Prime Minister Imran Khan pledged to carry out deep structural reforms of an economy that’s staring at a balance-of-payment crisis.

In Rural India, Tea Is Gaining Sustainable Development Ground

GUWAHATI, India — Ketan Patel, managing director of the first carbon neutral certified tea estate in the world, has spent nearly a decade pioneering a way forward using ethical and organic practices.

India Becomes Trump's Latest Trade Target

In his latest salvo against unfair trade practices in a major Asian market, President Trump says he plans to end preferential trade treatment for India, which sought to downplay the significance of the move.

India has a growing impact investing industry, but can it scale?

NEW DELHI — The growth in India’s mobile phone market has helped an unexpected sector — impact investing.

India running out of time to cash in on demographic dividend

India, which is home to more young people than any other country, is running out of time to harness the potential of its youth to drive economic growth.

The nation’s population in the under-19 age group has already peaked, government data show. That means the labor force will grow more slowly from here on out. In just over 20 years, the South Asian nation will be an aging society, similar to where China is now, according to the Economic Survey published by the Finance Ministry earlier this month.

International criticism mounts over Amazon fires

Ireland’s prime minister said there was “no way” his country could support a big trade pact involving Brazil if the South American nation did not honour its environmental commitments, deepening an angry international reaction to fires sweeping through the Amazon rainforest.

Leo Varadkar also accused Brazil’s president Jair Bolsonaro of an “Orwellian” attempt to blame the fires on environmental non-governmental organisations, after Mr Bolsonaro said he was suspicious that they could be involved.

Iran is already in a ‘very dangerous’ economic position as US prepares major new sanctions

President Donald Trump is threatening to impose “major” new sanctions against Iran on Monday, ramping up the pressure on the Islamic Republic at a time when its economy is straining under the weight of financial restrictions.