International Monetary Fund (IMF) chief Kristalina Georgieva said on Sunday that risks to financial stability have increased and called for continued vigilance although actions by advanced economies have calmed market stress. She said 2023 would be another challenging year, with global growth slowing to below 3 per cent due to scarring from the pandemic, the war in Ukraine and monetary tightening.
She also warned that geoeconomic fragmentation could split the world into rival economic blocs, resulting in "a dangerous division that would leave everyone poorer and less secure." Even with a better outlook for 2024, global growth will remain well below its historic average of 3.8 per cent and the overall outlook remained weak, she said at the China Development Forum.
This story is from the March 27, 2023 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the March 27, 2023 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
FY24 credit card spends rose 27%
Increased to ₹18.26 trillion from nearly ₹14 trillion a year ago
DCB Bank Q4 profit rises 9%
Private lender DCB Bank's net profit rose by 9 per cent year-on-year (Y-o-Y) to 156 crore for the quarter ended March (Q4FY24) on the back of a modest rise in net interest income (NII) and a decline in provisions.
Axis Bank back in black with ₹7,129 cr Q4 profit
NII grew 11% to ₹13,089 cr, while fee income grew by 23% to ₹5,637 cr
Growth businesses hold the key for Tata Consumer
Tata Consumer Products reported Q4 results which were more or less in line with analyst consensus but disappointed the market.
Financialisation of savings drives up demat a/cs in Ladakh
Mizoram & Lakshadweep also see spike in demat account registrations
KRAS: Over 73% of KYC records are validated
Know-your-customer (KYC) registration agencies said on Wednesday that 73 per cent of the 108.3 million KYC records were validated as of March 31, 2024, and that the system was in place for the rest of the investors to validate their KYC.
Proxy advisory firms give TaMo DVR conversion plan the thumbs up
Move, they say, will simplify capital structure and eliminate price discount
Call for caution on micro, small, midcap stocks amid sharp run-up
Shares of smallcap companies continued their upward march from the March 2024 lows, with the S&P BSE Smallcap index hitting a new high of ₹46,958.21 on Wednesday in intraday trade.
Calcutta HC's SSC order heats up the election classroom
Political analysts believe cancelling of 25,753 appointments will have serious ramifications
Wanted: An executive to repair Boeing
When Boeing named Stephanie Pope to the new position of chief operating officer in December, the move was widely viewed as a sign that she might succeed the company's chief executive, Dave Calhoun, in the next few years.
