Slower, safer, and more sustainable growth is good for China, its people, and the rest of the world, the IMF head tells Chinese students. Speaking during a visit to China, Christine Lagarde said the potential rewards of this slower, more sustainable growth were huge.
The IMF Executive Board approves a loan and grant package for Sierra Leone to help the West African country counter an economic slump, engendered by the Ebola outbreak and a sharp drop in iron ore prices, that is stretching the country’s social protection system.
Amid concerns over a “new mediocre” in the global economy, trade should be seen as an integral part of the plan for increasing global growth over the medium term, the IMF says in its regular five-year review of trade, that also discusses key issues for the IMF’s work agenda.
Several features of countries’ banking systems can amplify effects of banking sector vulnerabilities on governments, and ultimately the fiscal costs of banking crises. When large banking expansions unravel in systemic banking crises, public finances tend to take a significant hit.
SDR Rates for March 27
SDR Interest Rate = 0.050%| 1 USD = SDR 0.721371MORE