global economy News

IMF Officials Urge Governments to Limit Risks to Global Economy

The International Monetary Fund warned governments not to rock the boat with trade wars and other disruptions at a time when the global economy is already sailing through choppy waters. “We see downside risk and that means one has to …

Global Finance Chiefs to Warn of Economic Risks, Call for Aid for Poor

Finance and development ministers from around the world this week will warn of considerable downside risks to the global economy, and call for an effort to protect the world’s poor, according to the draft of a communique they plan to …

PCI Encouraged by Progress in ‘Trade in Services’ Agreement

David Snyder, the Property Casualty Insurers Association of America’s (PCI) vice president, international policy, has issued the following statement on the progress in the Trade in Services Agreement (TiSA) and launch of the TiSA Business Coalition. “PCI applauds the progress …

IMF Sees Global Growth Gaining Along with Rising Risks in Emerging Economies

The International Monetary Fund on Tuesday predicted the global recovery would strengthen this year as output in richer nations picked up, but it warned of rising risks in emerging economies. In its latest global economic snapshot, the Washington-based IMF said …

WTO Overcomes Last Minute Hitch to Reach First Global Trade Deal

The World Trade Organization reached its first ever trade reform deal on Saturday to the roar of approval from nearly 160 ministers who had gathered on the Indonesian island of Bali to decide on the make-or-break agreement that could add …

U.S. ‘Fiscal Cliff,’ Europe’s Debt Woes Worry G20

Leading world economies pressed the United States on Sunday to act decisively to avert a rush of spending cuts and tax hikes, warning that the so-called fiscal cliff is the biggest short-term threat to global growth. Unless a fractious Congress …

ICC Proposes Measures to Stimulate Global Economy

The International Chamber of Commerce has unveiled the initial recommendations of its Business World Trade Agenda initiative, aimed at stimulating the global economy by helping to move the World Trade Organization’s (WTO) multilateral trade negotiations out of an 11-year deadlock. …

Swiss Re’s Chief Economist on the State of the Global Economy

“The European debt crisis is affecting the global economy, definitely,” said Kurt Karl, Swiss Re’s chief economist in an interview at the recent Reinsurance Rendezvous in Monte Carlo. He did indicate that it’s affecting the U.S. a bit less, as …

OECD Sees Euro Zone Crisis Threatening Global Economic Recovery

The United States and Japan are leading a fragile economic recovery among developed countries that could yet be blown off course if the euro zone fails to contain its flaring growth crisis, the OECD said on Tuesday. In its twice-yearly …

Are Some Insurers ‘Globally Systemic Important Financial Institutions?

A report from the Geneva Association, “Reflections on a High-Quality G-SIFI Designation Process in Insurance,” authored by Daniel Haefeli and Patrick M. Liedtke, gives some meaningful insights into the process of defining what is – and is not – a …