The executive board of the International Monetary Fund approved a $650 billion expansion in resources to support economically vulnerable nations as they battle the coronavirus pandemic.
The International Monetary Fund (IMF), will raise its forecast for global economic growth in 2021 and 2022 after last year’s 3.5% contraction, but financial conditions remain highly uncertain, IMF Managing Director Kristalina Georgieva said on Tuesday.
The global economic recovery is at risk from the rise of new coronavirus variants and poor access to vaccines in developing countries, finance ministers of the world’s 20 largest economies warned on Saturday.
The International Monetary Fund’s No. 2 official on Tuesday called on countries to pivot from saving their economies from collapse to reviving growth-oriented policy reforms to boost their recovery prospects and make them more sustainable.
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Statistics Centre - Abu Dhabi (SCAD) has announced statistical data that show expansion of Abu Dhabi’s Gross Domestic Product (GDP) in the first half of 2022, reaching 11.2 per cent compared to the same period last year.
Dubai-owned ports giant DP World will manage a logistics-focused free economic zone in Uzbekistan’s southeastern Navoi province, Uzbek President Shavkat Mirziyoyev’s office said late on Friday.