Recession: IMF confirms Nigeria unable to meet recovery expectation

The $5.4 billion set for disbursement brings the total lent to the Latin American country under the Extended Fund Facility to $28.9 billion. Argentina is the target of the IMF's largest assistance program.

During its annual Spring Meeting in Washington, the International Monetary Fund has revised its forecasts upward to 7 percent for global inflation this year and 4.9 percent in 2024. Those figures, above the target rate of 2 percent, will be contributing factors in slowing down growth, including for developing economies.

Brazilian President Luiz Inacio Lula da Silva has praised the Shanghai-based New Development Bank (NDB) on his trip to China, saying it "frees emerging countries from submission to traditional financial institutions".

The IMF predicts that a third of the world economy will be in a recession next year. We compare the current economic downturn to the 2008 financial crisis to find out what is different this time.

Inflation has taken a heavy toll on the German economy, with consumers spending less on items such as food and clothing. To make matters worse, the outlook for the rest of the year isn't looking much brighter.

The West African nation has been under financial strain stemming from the rolling impact of the pandemic, the war in Ukraine, and a range of other global economic trends.

Two consecutive quarters of contraction have placed the eurozone economy into recession.

New data shows Chinese economic growth slowing, with property investment in steep decline and youth unemployment at a record high. Also, the US Federal Reserve confirms its "hawkish pause" policy, keeping interest rates steady for now but planning for more hikes. Finally, economists name an unlikely culprit for persistent Swedish inflation: Beyoncé.

In its Commercial Market Outlook 2023–2042, Boeing projected that the global fleet growth is likely to double-fold to reach more than 48,500 jets by 2042. This equates to growing 3.5% per year, signifying ample growth potential for aerospace forerunners in the industry.

The deal would provide much needed relief to Pakistan, which has been on the verge of default. The IMF board has yet to confirm the agreement.

The agreement should just be viewed as a "stopgap" that gives Pakistan time and some resources needed to pull its economy back from the verge of default, say experts.

The past decade has seen an acceleration of medical research on LSD, a hallucinogenic substance discovered in the 1940s and banned 30 years later. In Switzerland, several clinics and hospitals now have permission to administer the drug to patients for depression or anxiety disorders, under strict supervision. But the enthusiasm surrounding the substance is such that some specialists are concerned about the risks of self-medication, particularly in Germany.