Former Russian deputy defence minister sentenced to 13 years for corruption
A senior figure in Russia’s defence establishment, Timur Ivanov, has been sentenced to 13 years in prison after being found guilty of corruption, am...
The IMF has lowered global and U.S. economic growth forecasts, citing Trump-era tariffs and rising uncertainty. Global growth is expected at 2.8% this year, while U.S. growth may slow to 1.8%, with heightened recession and inflation risks.
The International Monetary Fund (IMF) has downgraded its global and U.S. economic growth forecasts, citing the impact of tariffs introduced by President Donald Trump and the uncertainty they have created. In its latest World Economic Outlook, the IMF projects global growth at 2.8% for this year, down from its January forecast of 3.3%. For 2026, growth is expected to reach just 3%, also below previous estimates.
U.S. economic growth is now forecast at 1.8% for 2025, a significant drop from the earlier projection of 2.7%, and a full point below last year’s expansion rate. While the IMF does not anticipate a recession in the U.S., it has raised the likelihood of one occurring this year from 25% to 37%. JPMorgan analysts estimate an even higher risk, at 60%.
The IMF noted that the global economy is entering a new phase, with Chief Economist Pierre-Olivier Gourinchas describing it as a "reset" of the system that has governed the global economy for the past 80 years. The fund’s forecasts were finalized on April 4, following the Trump administration’s announcement of sweeping 10% tariffs on nearly 60 countries. Although the duties were paused for 90 days starting April 9, the IMF said the uncertainty still weighs heavily on global markets.
The U.S. economy may face a "supply shock" similar to those experienced during the COVID-19 pandemic, pushing inflation to around 3% by year-end. China’s growth is also expected to slow to 4% this year and next, partly due to falling demand from the U.S.
The European Union is forecast to see modest slowdowns, with eurozone growth revised to 0.8% this year and 1.2% next year—down 0.2% from earlier predictions. Japan’s growth has also been adjusted downward to 0.6% for both years. The IMF says that uncertainty around U.S. trade policy could continue to discourage business investment and global economic expansion.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
A malfunction in the radar transmission system at the Area Control Center in Milan suspended more than 300 flights at the weekend, across northwest Italy since Saturday evening according to Italy's air traffic controller Enav (National Agency for Flight Assistance).
Thousands of protesters rallied in Bangkok on Saturday, demanding Prime Minister Paetongtarn Shinawatra resign as political and economic tensions mount.
The Asian Infrastructure Investment Bank (AIIB) and the Arab Fund have signed a memorandum of understanding to formalize a strategic partnership focused on advancing sustainable infrastructure in shared priority regions.
Tesla’s new car registrations plunged sharply in June, dropping 64.4% in Sweden and 61.6% in Denmark compared to last year, highlighting growing challenges for the U.S. electric vehicle maker in these Nordic markets.
More than $2.5 billion in new deals and commitments between the United States and African partners were announced at the 17th summit, underscoring the U.S. commitment to prioritizing trade over aid by engaging Africans as equal partners in investment-driven growth, the State Department announced.
Gold prices edged higher on Monday after slipping to their lowest level in more than a month, supported by a weakening U.S. dollar and easing geopolitical tensions that have tempered safe-haven demand.
The French Riviera town of Cannes will restrict large cruise ships from docking starting from January 2026, as part of new efforts to manage over tourism and protect local infrastructure.
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