The value of the global merchandise exports of the Least Developed Countries (LDCs) dropped by 4.60 per cent to US$ 256 billion last year from US$ 269 billion in 2022. The drop made the share of LDCs in world exports at 1.10 per cent last year which was almost similar in 2022. Merchandise i
Oil prices fell on Monday, dragged down by a renewed focus on market fundamentals as Israel and Iran played down the risks of an escalation of hostilities in the Middle East after Israel's apparently small strike on Iran. Brent futures fell 67 cents, or 0.77 per cent, to $86.62 a barrel by 0415 GM
The International Monetary Fund's steering committee failed to issue a joint communique on Friday amid disagreements over wars in the Middle East and Ukraine, opting instead for a statement from the body's chair that acknowledged the economic risks posed by the conflicts, reports Reuters. In
As the World Bank-IMF Spring Meetings continue in Washington, civil society groups worldwide are protesting against the debt catastrophe today. As part of that, Bangladesh civil societies organised a protest rally in front of the National Press Club in Dhaka, according to a press release. In addi
Pakistan hopes to agree the contours of a new International Monetary Fund loan in May, said its Finance Minister Muhammad Aurangzeb to Reuters, and has kicked off talks with ratings agencies to lay the groundwork for a return to international debt markets. The country's current $3.0 billion
A decade ago, Greece was in the throes of a devastating debt crisis marked by years of austerity, hardship and unrest. Now, officials and investors say 2024 could be the year its rebound is finally complete. The Greek economy is forecast to grow nearly 3 per cent this year, approaching its pre-cri
Sri Lanka on Tuesday rejected international bondholders’ proposal to restructure more than $12 billion in debt, putting at risk critical International Monetary Fund support and delaying its efforts to resolve a two-year-long debt crisis. Some of the proposal’s “baseline” as
An optimist will look at China’s latest GDP figures released on Wednesday and argue they signal that the best of times is returning. The country’s economy grew 5.3 per cent in the first quarter year-on-year, comfortably beating analysts’ expectations of a 4.6 per cent increase and
China’s economy grew faster than expected in the first quarter, data showed on Tuesday, offering some relief to officials as they try to shore up growth in the face of protracted weakness in the property sector and mounting local government debt. However, several March indicators released al
The US Federal Reserve held its benchmark overnight interest rate steady in the 5.25 per cent-5.50 per cent range at its March 19-20 policy meeting, and officials continued to anticipate approving three quarter-percentage-point rate cuts by the end of 2024. Before policymakers begin to ease borrow
Half of the world’s 75 poorest countries are experiencing a widening income gap with the wealthiest economies for the first time this century in a historical reversal of development, the World Bank said in a report on Monday. The differential between per capita income growth in the poorest c
Oil prices fell in early Asian trade after Iran's reprisal attack on Israel over the weekend. Brent crude - a key benchmark for oil prices internationally - was lower but still trading close to $90 a barrel on Monday morning, as per BBC reports. Prices had already risen in expectation of action b
The International Monetary Fund's executive board on Friday selected Bulgarian economist Kristalina Georgieva to serve as managing director for a second five-year term, starting on October 1 this year, the global lender said. "The Board commended Ms. Georgieva's strong and agile leadership
