BOK SAYS FOREIGN RESERVES ROSE IN APRIL 2021

Highlights –

• BOK says foreign reserves rose in April 2021.
• The record high of foreign reserves was attributed to the U.S dollar’s weakness.
• As of end-April, the country’s foreign reserves came to the US $452.3 billion.

CHINA SAW RECORD GROWTH IN ECONOMY BY 18.3% IN Q1 OF 2021

Highlights –

• China saw record growth in economy by 18.3% in Q1 of 2021.
• China is reported to have shown V-shaped economic recovery.
• The IMF has projected the Chinese economy to grow 8.4 percent in 2021.
• In Q1 China’s ...

S. KOREA’S INDUSTRIAL OUTPUT INCREASED 2.1 PERCENT IN FEBRUARY

Highlights –

• S. Korea’s industrial output increased 2.1 percent in February.
• The index gauging industrial production came to 111.6 last month.
• Retail sales however fell 0.8 percent from a month earlier.
• The Bank of Ko...

IMF RAISES ITS 2021 GROWTH OUTLOOK FOR SOUTH KOREA BY 3.6 PERCENT

Highlights –

• IMF raises its 2021 growth outlook for South Korea by 3.6 percent.
• IMF is said to have taken into account the impact of the country’s latest $13 billion extra budget.
• Exports of chips and cars is said to have been k...

JAPAN TRADE MINISTRY WANTS TO REVAMP SUPPLY CHAINS

HIGHLIGHTS

• The operations of global supply chains have come to a halt due to coronavirus pandemic.
• The Japanese Ministry of Economy, Trade and Industry wants to revamp the supply chains.

The coronavirus pandemic has halted the operat...

Digital Renminbi Coins, Electronic Dollar and the Stablecoins Backed Race to Central Bank

Top central banks around the world are preparing to introduce their state-backed digital currency. With its digital renminbi coins, China has set the pace with hopes of gaining a competitive advantage over the US in world trade.

The International Monetary Fund (IMF) assumes that, in add...

STATUS OF US DOLLAR AS GLOBAL RESERVE CURRENCY VS OTHERS

The US economy and financial system depend greatly on the dollar as the dollar is the dominant global reserve currency. The US economy and financial systems include being able to maintain and fund huge trade and fiscal deficits. International Monetary Funds (IMF)has recently released a report whi...

UAE soon to become $500 billion economy

The Gross Domestic Product (GDP) of UAE remains on track to surpass the $500 billion mark over the next few years.

Its growth drivers include rapid economic diversification along with a string of bold reforms and a series of government stimulus measures. These have kept its growth at a ...

Amid economic slowdown, IMF calls for urgent action by India

On Monday, the International Monetary Fund (IMF) said that to reverse the economic slowdown of an economy that has been one of the engines of global growth, the Government of India must take steps quickly.

In the annual review, the IMF stated that falling tax revenue with declining inve...

Present in the demolition

Some days, the World Bank and International Monetary Fund economists need to feel pretty fortunate. We are working for just about the only institutions set up after World War II that are not in the midst of a crisis of identity. The collapse of the post-war world's economic and security syste...

Money control and why Trump is singling out Brazil and Argentina

President Donald Trump slapped new duties on Brazil and Argentina in the wake of blaming them for controlling their monetary forms to support sends out. It wasn't the first run through Trump that has marked another nation a "cash controller" for apparently interfering to keep its ve...

2019 has turned out to be a bad year for the economy of India

With the recession, job loss and companies winding up operations, 2019 has turned out to be a bad year for the economy of India. In the second quarter, the GDP growth rate fell to its lowest for six years. The estimates released by the Central Statistics Office (CSO) revealed that India's GDP...

Could Fernandez fix Argentina?

In the present world, everything runs with cash. Everything is estimated in fiscal terms. The economy of a country is a big bargain for that specific nation. More grounded economies naturally make the district incredible.The intense financial emergency that has been tormenting Argentina since 201...

Facebook’s currency project to be rejected?

As the world moves towards a more digitized finance and banking network we all are facing a choice to either adopt Blockchain or hang in the conventional money chains that could rupture down any time and give us a blow straight to the head.

In a blow to the social media giant, the repor...

US economy slowing or Chinese one accelerating?

The United States has been known as the world's most competitive economy and this is also true to its growth trend that has always been an uproar no matter what but ever since President Donald Trump took office in the year 2016 the economic growth of the nation seems to have stalled with bad ...

IMF cuts global growth outlook to lowest since financial crisis

On Tuesday, 9th April, the IMF i.e. The International Monetary Fund cut its forecast of global growth to the lowest level recorded ever since the occurrence of the financial crisis, warning that there will be major downside risks to the economy of the world such as a massive rise in the levels of de...