Sunday, 17 February, 2019
  • Finance
  • Nigeria's growth not enough to create jobs, says International Monetary Fund

Nigeria's growth not enough to create jobs, says International Monetary Fund

PM Imran Khan chairing the Punjab cabinet meeting. — PTI PM Imran Khan chairing the Punjab cabinet meeting. — PTI
Orlando Vargas | 10 October, 2018, 08:53

The IMF said: "The possible failure of Brexit negotiations poses another risk".

The downgrade reflects a confluence of factors, including the introduction of import tariffs between the United States and China, weaker performances by eurozone countries, Britain and Japan, and rising interest rates that are pressuring some emerging markets with capital outflows, notably Argentina, Brazil, Turkey, South Africa, Indonesia and Mexico.

PM Imran said he wanted to provide relief to citizens and will steer the country clear of the impending financial disaster.

"US growth will decline once parts of its fiscal stimulus go into reverse", Mr Obstfeld said in a statement.

"The likelihood of further negative shocks to our growth forecast has risen", he said.

U.S. Treasury Secretary Steven Mnuchin is expected to meet with worldwide finance officials in Indonesia this week during IMF and World Bank summits, though as of Monday he had no meetings scheduled with Chinese officials - as reported by Reuters.

With global economy slowing down and countries across the world erecting trade barriers, Valecha says it is highly unlikely that exports from Pakistan will have a sharp turnaround.

The Dow Jones Industrial Average fell 17.59 points, or 0.07 per cent, at the open to 26,469.19.

"It also expects the economy to grow 1.4 per cent in 2019, down from a previous estimate of 1.7 per cent". Since its last forecast in March, the International Monetary Fund has also revised upwards Israel's expected inflation this year from 0.7% to 0.9%.

Pres. Trump Hosts Ceremonial Swearing-in For Supreme Court Justice Brett Kavanaugh
People hoping to see Justice Brett Kavanaugh's first day on the Supreme Court bench are waiting in long lines outside the court. Republicans had hoped to confirm Kavanaugh in time for him to join the court on October 1, the start of the new term.


Turkey vows to prosecute all involved in Khashoggi's case 28min
The Saudi Consulate insists Khashoggi left its building, contradicting Turkish officials who say they believe he is still there. His disappearance caused a huge flutter and Turkish establishment was under pressure to find out Khashoggi's whereabouts.


Jamal Khashoggi disappearance: Saudi Arabia allows Turkey to search consulate
Turkish journalist Muhammad Kanabkali expressed astonishment at the claim by some media persons that Khashoggi has died. US Secretary of State Mike Pompeo said he had seen conflicting reports on the safety and whereabouts of Khashoggi.


He admitted that the continent "will witness growth next year but the growing number of working class coupled with less jobs opportunities, huge public debts and poor infrastructure present a challenge in achieving the developmental goals of the United Nations".

The IMF also cut its outlook for China as a result of the tariffs, shaving its projection for growth next year to 6.2 per cent, down 0.2 point from three months ago.

"In Angola, the region's second largest oil exporter, real GDP is expected to shrink by 0.1 per cent in 2018, following a 2.5 per cent contraction in 2017, but is projected to increase by 3.1 per cent in 2019". Overall, global growth will remain steady - about 3.7 percent this year - and exceed that of 2012-2016.

"For an economy that has become addicted to foreign loans and bailouts, the future is very much like the past", said Uzair Younus, a South Asia director at Washington-based consultancy Albright Stonebridge Group LLC.

"Near-term risks to global financial stability have increased somewhat", the International Monetary Fund said.

Instead, the Chinese maintain, they have boosted the country's economic growth and provided 70,000 jobs.

In this worst case scenario, the U.S. economy would take a significant hit, while economic growth in China would drop below 5% in 2019, compared with a current prediction of 6.2%.

"In several key economies, moreover, growth is being supported by policies that seem unsustainable over the long term", he said. The IMF on Tuesday cut its global growth forecasts due to an escalating U.S.

ANC and opposition parties welcome Mboweni, praise Nene
Oil dips as IMF lowers global growth outlook; eyes on US hurricane

Recommended

  • Taylor Swift changes her tune and gets political for 1st time

    Taylor Swift changes her tune and gets political for 1st time

    In Tennessee specifically, close to half of October's new registrations took place in the 36 hours after Swift's post went up. Vote.org also saw a definite jump in traffic in the wake of her Instagram post .
    Here’s Our First Look at Ruby Rose as Batwoman

    Here’s Our First Look at Ruby Rose as Batwoman

    Pulling herself out of a destructive cycle, she chooses to become Batwoman and fight crime. This first look at Batwoman comes as the crossover begins shooting in Vancouver BC.
    Record-setting night for Brees; embarrassing loss for Redskins 43-19

    Record-setting night for Brees; embarrassing loss for Redskins 43-19

    However, Peterson said after the defeat that he suffered a dislocated shoulder near the end of the first half. Chris Thompson has a rib injury he suffered on the two point conversion attempt in the fourth quarter.
  • ANC and opposition parties welcome Mboweni, praise Nene

    ANC and opposition parties welcome Mboweni, praise Nene

    Tito Mboweni , a former Reserve Bank governor, will replace him. Opposition parties have called for his resignation. The rand fell more than one percent on the report.
    Unreported Google data exposure affects hundreds of thousands

    Unreported Google data exposure affects hundreds of thousands

    Google is also following from its limiting of Gmail scans by limiting which applications - namely, down to email apps - can do so. Unfortunately, whether you've forgotten about it or not, if you have a Google + account, your data may have been put at risk.
    North Korea wants Pope to visit, South to tell Vatican

    North Korea wants Pope to visit, South to tell Vatican

    Yi criticized Pompeo for the US government's actions towards Taiwan, claiming that Washington is interfering in Chinese affairs. China and the United States are at odds over trade and Beijing's militarization of islands it claims in the South China Sea.
  • Michael strengthens to Category 2 hurricane; expected to intensify

    Michael strengthens to Category 2 hurricane; expected to intensify

    After Hurricane Irma previous year , 14 people died when a South Florida nursing home lost power and air conditioning. ET, Michael's center was about 420 miles south of Panama City, Florida and 390 miles south of Apalachicola, Florida.
    Could the Eagles trade for LeSean McCoy?

    Could the Eagles trade for LeSean McCoy?

    The season, and possibility the entire tenure with the Eagles , is now over for Ajayi, who is in the a year ago of his contract. Wendell Smallwood , Corey Clement , and Josh Adams will compete for increased carries in Ajayi's absence.
    Limo in NY crash that killed 20 failed inspection

    Limo in NY crash that killed 20 failed inspection

    The Board is investigating the crash, including whether the limo had any mechanical problems. "One of them had two children". Schumer added, "I commend the NTSB's immediate aid on scene and am very confident that we will have concrete answers soon".
  • Major League Baseball announces start times for first two games of ALCS

    Major League Baseball announces start times for first two games of ALCS

    Holt went 4-for-6 and finished off his cycle with a two-run homer off Yankees backup catcher Austin Romine in the ninth. For the second straight night, Yankees rookie manager Aaron Boone hesitated to remove his starting pitcher early.
    Lawsuit accuses Antonio Brown of almost killing toddler in 'fit of rage'

    Lawsuit accuses Antonio Brown of almost killing toddler in 'fit of rage'

    Some of the items fell within "a mere foot or two" of them and could have severely injured or possibly killed them, the suit said. Sternberg claims that his daughter now shows "symptoms of fear and anxiety" and is "having night tremors every night".
    President Trump Will Have Lunch With Kanye West This Week

    President Trump Will Have Lunch With Kanye West This Week

    After Thursdays meeting, both West and his famous wife Kim Kardashian West will have met with Trump to discuss prison reform. West grew up and recently said he planned to return, according to the person briefed in the meeting.

Oil dips as IMF lowers global growth outlook; eyes on US hurricane Oil dips as IMF lowers global growth outlook; eyes on US hurricane The U.S.'s sanctions on Iranian oil come into effect on November 4, but at least one country says it won't be playing ball. Late in the session, traders will get the opportunity to react to the latest data from the American Petroleum Institute.

Hurricane Michael gaining strength Hurricane Michael gaining strength The hurricane is expected to be the most powerful storm to strike the southern U.S. state's panhandle in at least a decade. The storm rotates due to the spin of the earth and energy from the warm ocean increases wind speeds as it builds.

Lady Gaga's ex-fiancé Taylor Kinney 'proud' of 'A Star Is Born' Lady Gaga's ex-fiancé Taylor Kinney 'proud' of 'A Star Is Born' Animated movie Smallfoot finished third with US$14.4 million, followed by comedy Night School, with US$12.3 million. However, it was the exact opposite, setting an October box office record and an audience "fresh" score of 89%.

Mental health crisis could cost the world US$16 trillion by 2030 Mental health crisis could cost the world US$16 trillion by 2030 Even as most expatriates call the UAE their second home , not many have a healthy social network that can help unwind. He explained his point by referring to the suicides in Chitral mainly by teenage girls by jumping into the river.

Nikki Haley Resigns as United Nations Ambassador Nikki Haley Resigns as United Nations Ambassador Trump tweeted that "The people of SC are embarrassed by Nikki Haley ". "They should be heard, and they should be dealt with". Haley, who is not personally wealthy, hinted in her resignation letter to Trump that she is headed to the private sector.

Latest iOS update fixes iPhone charging problems Latest iOS update fixes iPhone charging problems Apple has released an update for iOS 12 which fixes several bugs experienced by iPhone Xs and Xs Max users, The Verge reports. To grab the latest updates, head to your devices settings menu, tap General , and then select Software Update .

Nikki Haley resigns as United Nations ambassador Nikki Haley resigns as United Nations ambassador Trump said Haley first told him about six months ago that she would like to "take a little time off" at the end of this year. Haley's decision surprised several senior White House aides, Chief of Staff John Kelly and Vice President Mike Pence.

Former England and Chelsea captain John Terry announces retirement Former England and Chelsea captain John Terry announces retirement " After 23 incredible years as a footballer, I have decided now is the right time to retire from playing ", read the post. The Chelsea legend played 717 times for his boyhood club, 78 times for his country and won countless trophies.

WWE Confirms Three Huge Names For Tonight's RAW WWE Confirms Three Huge Names For Tonight's RAW WWE will be holding qualifiying matches on Raw and SmackDown leading up to the event. Michaels had "retired" after losing a Streak versus Career match at WrestleMania 26.

Sky Sports pundit aims Man City barb at Reds’ title chances Sky Sports pundit aims Man City barb at Reds’ title chances They're playing an attractive brand of football and Eden Hazard has been the standout player in the Premier League thus far. But if it is an open game at Anfield, or any open game against Liverpool, you don't even have one percent of a chance.

Sevastova to face Wozniacki in Beijing final Sevastova to face Wozniacki in Beijing final Recently-crowned US Open champion Naomi Osaka has pulled out of the ongoing Hong Kong Open citing a back injury. "I feel like we both fought as hard as we could".

Watch Google's Pixel 3 Event Live Stream Right Here Watch Google's Pixel 3 Event Live Stream Right Here Lastly, we may also see the Pixel Buds 2, the improved version of truly wireless headsets, and an alternative of Apple AirPods. Although it's not been confirmed by Google it's nearly certain that two devices will be shown to the world during the keynote.

Hubble Telescope Stops Collecting Data After Mechanical Fault Hubble Telescope Stops Collecting Data After Mechanical Fault Engineers were forced to suspend the telescopes' scientific activities over the weekend after one of its gyroscope's failed. The newly failed gyro is the last of that old design, and it lasted about six months longer than expected.

International Monetary Fund raises Israel growth forecast International Monetary Fund raises Israel growth forecast The new government of Prime Minister Imran Khan had promised millions of new jobs and the creation of an "Islamic welfare state". This story has been published from a wire agency feed without modifications to the text. "We have looked at all our options".

Salisbury poisoning: What we know about doctor accused of nerve agent attack Salisbury poisoning: What we know about doctor accused of nerve agent attack Dawn Sturgess , 44, died in June after being exposed to the same weapons-grade nerve agent after it was apparently discarded. Both suspects appeared on Russian state TV last month, proclaiming their innocence.