In its updated World Economic Outlook, the IMF said global gross domestic product would be 3.5 percent in 2017 and 3.6 percent in 2018. Its last update was released in April.
After hours of talks in Luxembourg IMF chief Christine Lagarde and the eurozone's 19 finance ministers greenlit a payout of 8.5 billion euros to meet debt payments due in July and avoid another summer of Greek crisis.
Greece is embroiled in a row with its eurozone paymasters and the IMF over debt relief and budget targets that has rattled markets and revived talk of its place in the euro.
A standoff between the eurozone and the International Monetary Fund has dragged on for months, raising fears of a new debt crisis and sparking fresh talk of Greece tumbling out of the euro.
Rising oil prices will lead to higher inflation in the eurozone over the next two years than previously expected, a European Central Bank survey said today.
If the eurozone country sticks to its agreement with the European Union to increase its budget surplus to 3.5 percent, contrary to the IMF's recommendation, then it cannot blame the fund if it must impose more austerity to do so, the officials said in a blog post yesterday.
Inflation is expected to come down in the Eurozone and the US, says Herald Van Der Linde, Head of Equity Strategist, Asia-Pacific at HSBC.
A majority of analysts and bankers are expecting RBI Governor Urjit Patel-led Monetary Policy Committee (MPC) to cut rates by 0.25 percent today, with some expecting a 0.50 percent reduction.
Unrelenting demand for fixed income has pushed yields, in Europe at least, to a point where investors no longer distinguish one country's bonds from another's -- potentially storing up trouble for when focus returns to the economic drivers behind borrowing costs.
Brexit threatens to alter the world economic order, with resultant decline in global GDP, volatility in currencies, rebalancing of trade ties and a possibility of the UK slipping into a recession. In such a situation, it is imperative for global policy makers to take remedial measures to minimize damage.
Regardless of where the market is headed, there will continue to remain many stock or sector specific ideas, says Ridham Desai of Morgan Stanley.
"This is the worst period I recall since I've been in public service. There's nothing like it, including the crisis... This has a corrosive effect, which is not easy [to make] go away," former Federal Reserve Chair Alan Greenspan said.
Poland's foreign minister said on June 24 that Britain's vote to leave the EU meant it was time to rethink the old Franco-German model of closer European political integration
"There is a reason to look at debt relief because the debt is very high and there will be some problems in the future, I think the debt analysis shows that," Dijsselbloem, who is also Dutch Finance Minister, added.
Volkswagen is struggling to overcome the costs of a scandal over cars equipped with software that enabled them to cheat in diesel emissions tests. The company deducted 16.2 billion euros (currently USD 18.1 billion) from its earnings last year to cover recalls and other costs for 11 million cars sold with the software worldwide.
The ministers are expected to complete a long-stalled first review of Greece's massive EU-IMF bailout and discuss new debt relief measures at the crunch meeting today in Brussels, which follows mass public opposition to the newly adopted measures in the cash-strapped country.
Jan Lambregts of Rabobank gave his views on why the Asian and European markets are down despite a positive handover from the Wall Street
The "systemic exemption" amounted to a loophole in the IMF's longstanding policy that required the crisis lender to judge a member country's public debt to be sustainable with "high probability" before it could provide financial assistance that exceeds a member's contribution to the institution.
Greece in July accepted a three-year, 86-billion-euro (USD 93-billion) EU bailout that saved it from crashing out of the eurozone, but the deal came with strict conditions. Athens has since adopted a number of the unpopular reforms but creditors have wanted it to do more.
Overall exports from the gem and jewellery sector in India during the first six months of fiscal 2015-16 stood at USD 19.22 billion, a decline of 5.59 percent over the USD 20.3 billion exported in the same period last year.
Tsipras, who called for a fresh vote after suffering a major rebellion in his hard-left Syriza party over Greece's huge new international bailout, dismissed suggestions he could work with the conservative opposition New Democracy, the Pasok socialists or the centre-right Potami if the poll results were inconclusive.
Tsipras's announcement came after debt-crippled Greece paid a huge debt to the ECB on Thursday, effectively starting its third mammoth bailout, expected to cost as much as 86 billion euros (USD 96 billion) over the next three years.
Eurozone finance ministers on Friday approved a package worth 86 billion euros (USD 96 billion) in exchange for far-reaching pro-market reforms. Germany, as Europe's biggest economy and contributor to Greek aid, has a key role in approving the package.
After an 23-hour session that began Monday afternoon, exhausted Greek officials emerged in a central Athens hotel to announce the two sides had agreed details of the deal though a couple of minor issues remained to be ironed out.
Manish Singh, Crossbridge Capital expects US Fed to hike rates in September.