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Presenting the Secretary-General’s policy brief on Brief on the international financial architecture, Assistant Secretary-General for Economic Development Navid Hanif said “the current international financial system is not delivering the long term stable and affordable financing required to achieve the Sustainable Development Goals and combat, climate change.” UNIFEED

The IMF sees the US avoiding recession, but inflation remaining above the Federal Reserve Bank’s 2% target this year and next, Managing Director Kristalina Georgieva told reporters Thursday in Washington, DC. IMF

The IMF warned of negative consequences to the global economy if US leadership is unable to resolve its political impasse over negotiations to extend the debt ceiling, spokesperson Julie Kozack told reporters Thursday in Washington, DC. IMF

The International Monetary and Financial Committee has opened its plenary session at the Spring Meetings of the IMF and World Bank in Washington, DC today. IMF

Growth in sub-Saharan Africa is expected to slow to 3.6 percent in 2023, as a “big funding squeeze”, tied to the drying up of aid and access to private finance, hits the region, announced the IMF today in a press briefing. If no measures are taken, this shortage of funding may force countries to reduce fiscal resources for critical development like health, education, and infrastructure, holding the region back from developing its true potential. IMF

Global debt levels are rising faster than predicted, with the bulk of future boosts coming from China and the US the IMF said today. IMF

The IMF announced today in a press briefing that fiscal policy is returning to normal three years since the outbreak of the COVID-19 pandemic. IMF

Tightening monetary and financial conditions have sparked financial sector turmoil, with an increasing risk to market stability, the IMF’s Financial Counselor Tobias Adrian said today in Washington, DC. But the chief of the Fund’s Monetary and Capital Markets Department said so far, those risks have been contained. IMF

The IMF is trimming its global growth forecast and advising central banks keep up the pressure to drive down inflation, the IMF’s Chief Economist Pierre-Olivier Gourinchas said Tuesday in Washington, DC. IMF

Financial stability risks have increased rapidly since the October 2022 Global Financial Stability Report as the resilience of the global financial system has faced several tests, the IMF announced in a press briefing. IMF