Percentage of USD in the global economy declining

Percentage of USD in the global economy declining

Washington: At a time, when economies like Russia and China are trying to challenge the economic domination of the United States, it has been exposed that USD, the leading reserve currency of the world, is losing its percentage share. The International Monetary Fund (IMF) has announced the information regarding the investments in the reserve currencies […]

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IMF must die, says chief of Russia’s Sberbank

IMF must die, says chief of Russia’s Sberbank

Moscow: “I don’t have much to say about higher audit institutions, but as for international organisations like the IMF, they must die,” said Herman Gref, chief of the Russian Sberbank demanding the IMF be abolished. Last year, some European countries had hinted at initiating efforts to find an alternative to the IMF. Against this backdrop, […]

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NYSE owner ICE launches Bitcoin Futures contract

NYSE owner ICE launches Bitcoin Futures contract

New York: The US company, Intercontinental Exchange (ICE) that owns the New York Stock Exchange (NYSE), which is the largest stock exchange in the world, has launched Bitcoin Futures trading in the cryptocurrency. The first trade on Future’s Exchange started on Sunday at 8.00 pm, US time and the company informed that the first transaction […]

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Debt burden on the US crosses $400 trillion, claims report by a private financial institution

Debt burden on the US crosses $400 trillion, claims report by a private financial institution

Washington: A private financial institution issued a sensational warning that the total debt burden in the US economy is 20 times the Gross Domestic Product (GDP) of the United States and the number has reached nearly $400 trillion. A few months ago, the US treasury department had released information that the national borrowing is to […]

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US-China Trade war-a big blow to the global economy in 2020, warns the International Monetary Fund

US-China Trade war-a big blow to the global economy in 2020, warns the International Monetary Fund

Washington/ Beijing: The ongoing trade war between US-China is no longer a mere threat to the global trade war crisis. The impact of this war on the economy is already visible,’ saying, so the International Monetary Fund has predicted a decline in the global economy next year by 0.8 %. For the second time in […]

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Pakistan lashed by IMF, faces the imposition of heavy fines from World Bank, asked to pay $ 5.9 billion in fines

Pakistan lashed by IMF, faces the imposition of heavy fines from World Bank, asked to pay $ 5.9 billion in fines

Washington/Islamabad: After reprimanded by the International Monetary Fund (IMF) in the last week, there is a new financial crisis that haunts Pakistan. The senior arbitrator from the World Bank has ordered the Pakistan government to deposit a fine of whopping USD 5.975 billion. An international mining company had filed a case with the World Bank, […]

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Big tech firms likely to disrupt the world’s financial system, warns chief of IMF

Big tech firms likely to disrupt the world’s financial system, warns chief of IMF

Tokyo: Managing Director and Chairman of the International Monetary Fund(IMF), Christine Lagarde issued a sensational warning saying, “A few companies in the world have a humongous amount of data. These companies can gain control over the economic transactions through artificial intelligence and other technologies and significant disruption to the world’s financial system.” The warning issued […]

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Shadows of global recession darken further, against the background of decline in manufacturing sector and US-China trade war

Shadows of global recession darken further, against the background of decline in manufacturing sector and US-China trade war

Washington/London: The trade war between the United States and China is intensifying by the day, and even the global investors and big corporates have not been able to asses the effects properly. The economists have claimed that over the last few months, the manufacturing sector in Europe as well as Asia, is taking a major […]

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China provided a loan of USD 6.5 billion to Pakistan in fiscal 2018-19, Pakistan accepts under pressure from the IMF

China provided a loan of USD 6.5 billion to Pakistan in fiscal 2018-19, Pakistan accepts under pressure from the IMF

Islamabad/Beijing: It is being exposed that Pakistan has accepted many insulting terms, to receive a bailout package for its economy, heading towards bankruptcy. Bowing in front of these conditions, Pakistan has revealed the information that it has borrowed funds from China. It is revealed that Pakistan has borrowed nearly USD 6.5 billion from China, in […]

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