Sri Lanka has been suffering its worst economic crisis in history, with a severe shortage of foreign exchange stalling essential imports like drugs and fuel.
A misguided killing of the long-running "Ease of Doing Business" report underscores a need for reform at the World Bank.
Central bankers are tightening the U.S. economy amid historic inflation pressures. Meanwhile, the shock of war in Ukraine is slowing global growth. These factors raise the threat of a return to stagflation. Over the decade, Americans could see persistent price increases unless the central bank lifts rates to help curtail them. Federal Reserve Chair Jerome Powell has called for a swift return to neutral interest rates to calm markets. Can the Fed stick a soft landing? Only time will tell.
James McCormack of the credit ratings agency says Sri Lanka has had "a lot of IMF programs … but they've never had a debt restructuring, so this one definitely is different."
Carlos Casanova of Union Bancaire Privee warns the worst months for activity in China activity may be ahead, though the firm maintains its average economic growth forecast for the country at 5.0% for 2022.
The International Monetary Fund said discussions with Sri Lanka on a potential IMF loan program are at an early stage.
New 2022 IMF forecasts for real GDP for selected countries in Asia, Europe and the Americas.
Pierre-Olivier Gourinchas, the International Monetary Fund's new chief economist, joins 'Squawk on the Street' to discuss how much the war in Ukraine will weigh on global economic output. Gourinchas explains why he believes the U.S. economy can grow more than 3% this year and more.
'Mad Money' host Jim Cramer and the 'Squawk on the Street' team discuss new warnings to the global economy from the International Monetary Fund.
The Washington-based institution is now projecting a 3.6% GDP rate for the global economy this year and for 2023.
Economic mismanagement by successive governments weakened Sri Lanka's public finances, leaving its national expenditure in excess of its income.
"We still expect the world to be in positive growth territory," the IMF director said Thursday.
While the current account surplus and the level of reserves are much higher among Asian countries this time around, the debt burden has also risen.
"There are large risks associated with the use of bitcoin on financial stability, financial integrity, and consumer protection," says the International Monetary Fund.
The IMF expects the global economic recovery to continue, Kristalina Georgieva said, but stressed that it was "losing some momentum."
The IMF is concerned about cryptocurrencies, particularly because the market is growing at a significant pace.
"We may have a very modest downgrade in the cards for the euro zone," IMF Managing Director Kristalina Georgieva told CNBC on Monday.
It would be "appropriate" for the Fed to accelerate tapering and bring forward the path for rate hikes, the International Monetary Fund said.
Pakistan's economy is still teetering on the brink of crisis — the country faces record inflation that is pushing the price of daily commodities higher.
Kristalina Georgieva has denied the allegations and the IMF board this month found no conclusive evidence to support accusations of wrongdoing.