IIMF

    • IMF backs Biden’s plans for higher taxes and surcharges for the rich

      IMF backs Biden’s plans for higher taxes and surcharges for the rich

      The International Monetary Fund expressed support for the proposals of US President Joe Biden to increase corporate taxes and go further by agreeing a global minimum tax, Reuters reported. The Fund also noted that it was fair enough to impose higher taxes on wealthy firms and rich individuals who cashed big profits in pandemic and therefore can afford to pay more.

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    • Chile, Peru secure credit lines from IMF amid pandemic

      Chile, Peru secure credit lines from IMF amid pandemic

      The IMF approved a two-year $24 billion credit line for Chile on Friday as the South American nation battles the growing impact of the coronavirus pandemic. The announcement came a day after Peru secured a two-year, $11 billion credit line, and as Latin America becomes a growing hotspot for COVID-19.

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    • World economy to contract by 3% in 2020: IMF

      World economy to contract by 3% in 2020: IMF

      The International Monetary Fund (IMF) projected the global economy would shrink by 3% in 2020 amid the global coronavirus pandemic, according to a report released on Tuesday. In its latest World Economic Outlook -- released before the annual conference of the IMF and World Bank on Wednesday, the fund downgraded its growth forecast by 6.3 percentage points from its previous report as isolation, lockdowns and widespread closures to contain the virus hit the economy.

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    • IMF head says global economy now in recession

      IMF head says global economy now in recession

      The head of the International Monetary Fund said Friday it is clear that the global economy has now entered a recession that could be as bad or worse than the 2009 downturn. IMF Managing Director Kristalina Georgieva said the 189-nation lending agency was forecasting a recovery in 2021, saying it could be a “sizable rebound.” But she said this would only occur if nations succeed in containing the coronavirus and limiting the economic damage.

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