An IMF visiting team in Buenos Aires concluded its annual review of Argentina's economy and praised the efforts of President Mauricio Macri's nearly two-year-old government to transform the economy saying it has yielded significant gains, but also warned that risks remain.
China's credit rating has been downgraded by Standard & Poor's (S&P) because of worries over the rapid buildup of debt in the country. S&P cut China's rating by one notch from AA- to A+, saying its debts had raised economic and financial risks.
Venezuela’s triple-digit annual inflation rate is set to jump to more than 2,300% in 2018, the highest estimate for any country tracked by the International Monetary Fund.
The IMF on Sunday lowered its economic growth forecasts for the United States to 2.1% for this year and the next, down from the 2.3% for 2017 and 2.5% for 2018 that it had predicted in April.
Brazil's Finance Minister Henrique Meirelles has admitted that the government is going to revise its official forecast for this year's GDP growth, but gave no details as to the extent of the change. In its latest forecast, the government had estimated the economy was going to grow 1% in 2017.
The International Monetary Fund (IMF) on Thursday raised its forecast for economic growth in Uruguay this year to 0.7%, a substantial increase from the 0.1% estimated in October, and underlined the country's resilience to the problems of its neighbors Argentina and Brazil.
International Monetary Fund's executive board said on Tuesday that the Brazilian economy could be close to pulling out of a grueling recession, but faces a long and bumpy recovery that hinges on the approval of unpopular reforms. In its considerations of the IMF staff's annual report on Brazil, the executive board said that despite the new government's efforts to avoid a fiscal crisis they expected a gradual recovery in Latin America's top economy.
The International Monetary Fund (IMF) on Wednesday lifted the censure motion that weighed on the country since 2013, when it decided to sanction Argentina because it considered that statistics at the National Census' Institute (Indec) were being manipulated.
Argentina's inflation rate eased to 2% in July, less than half of what it was two months before when the government began reporting consumer price data after revamping the country's troubled statistics office. The July figure was released on Friday by the new Indec data agency. A month earlier it reported 3.1% inflation for June and 4.2% for May when it issued its first consumer price report since President Mauricio Macri took office in December.
The World Bank has slashed its 2016 global growth forecast to 2.4% from the 2.9% estimated in January, due to stubbornly low commodity prices, sluggish demand in advanced economies, weak trade and diminishing capital flows.