UK resumes diplomatic ties with Syria after 14-year gap
The UK has re-established diplomatic relations with Syria, marking a major shift in its foreign policy following the fall of Bashar al-Assad’s regim...
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 European Commission is set to propose allowing carbon credits from other countries to count towards the EU’s 2040 climate target, according to a leaked internal document.
A magnitude 5.5 earthquake struck off Japan’s Tokara Islands on Wednesday, with no tsunami warning issued but residents advised to remain vigilant.
The United States has rescinded licensing restrictions on ethane exports to China, allowing shipments to resume after a temporary halt and signalling progress in efforts to ease recent trade tensions.
Italy plans to grant approximately 500,000 work visas to non-EU nationals between 2026 and 2028, as announced in a cabinet statement. The initiative aims to address labor shortages by expanding legal immigration pathways
Following a deadly glacier collapse in Blatten, near the Swiss Alpine village of Kandersteg, the town is on high alert as melting permafrost and shifting rock threaten another potential disaster after it was buried a month ago.
Microsoft is closing its direct operations in Pakistan after 25 years, shifting to a partner-led model to serve the market.
The European Union will drastically reduce imports of Ukrainian wheat and sugar, by up to 80%—to protect its farmers, a move expected to shift Ukraine's exports toward Asia and Africa.
The Bank of England has launched a public consultation on future banknote designs.
Unexpected weakness in Germany's manufacturing orders in May signals ongoing uncertainty in industrial demand, despite a yearly rise and sector-specific gains.
Oil futures fell on Friday after Iran reaffirmed its commitment to nuclear non-proliferation and amid expectations that major producers are set to agree to raise their output this weekend.
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