International Monetary Fund

U.S. Treasury secretary Janet Yellen has criticized the supply cut decision made by the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, calling it “unhelpful and unwise” for the global economy. What Happened: Yellen, in an...

In June 2021, El Salvador became the first country to make cryptocurrency Bitcoin (CRYPTO: BTC) legal tender. The move was supported by the country’s President Nayib Bukele, a vocal Bitcoin bull. Here’s the latest on Bukele and the performance of Bitcoin since the landmark event. What...

This week, the International Monetary Fund cut its global GDP growth forecast for 2022 and 2023 in the wake of the economic disruption caused by Russia's invasion of Ukraine. At the same time, COVID-19 lockdowns in China are weighing on the Chinese economy, and Bank of America economist Ethan...

Russia could mine Bitcoin (CRYPTO: BTC) in an effort to evade the economic sanctions that were imposed on the nation after it invaded Ukraine, according to the International Monetary Fund (IMF). What Happened: In a recently released report, the IMF argues that Russia could use...

India's Minister of Finance and Corporate Affairs Nirmala Sitharaman reiterated the country's negative attitude towards cryptocurrencies such as Bitcoin (CRYPTO: BTC) during a recent International Monetary Fund (IMF) panel. What happened: Local news outlet Outlook India...

Amid the deepening financial crisis in the country, Sri Lanka defaulted on its $51 billion foreign debt, pending a bailout from the International Monetary Fund, with whom the talks are scheduled for the end of this month. Grappled by acute food and fuel shortages and long electricity blackouts, the...

El Salvador's treasury minister Alejandro Zelaya recently expressed his anger over the International Monetary Fund's (IMF) sustained pressure to drop Bitcoin (CRYPTO: BTC) as legal tender in his country, and said that it will have no result. What Happened:...

An Arizona Senator has proposed making Bitcoin legal tender in the state, which could make it the first state to do so in the United States. Here are the details. What Happened: Arizona State Senator Wendy Rogers, a  Republican, has introduced legislation that would make Bitcoin (CRYPTO:...

The International Monetary Fund (IMF) criticized Bitcoin (CRYPTO: BTC) and warned Salvadorans to rethink the idea. What happened: On Jan. 26, the IMF warned the citizens of El Salvador about crypto adoption which recently saw a couple of dissenting replies from Salvadorans, Decrypt reports. A...

International Monetary Fund (IMF) executive board members urged El Salvador authorities to drop Bitcoin's (CRYPTO: BTC) adoption, warning there could be dire consequences for the nation if it keeps using the cryptocurrency. What Happened: In a Tuesday report, the...

The International Monetary Fund (IMF) heavily criticized El Salvador's decision to adopt Bitcoin (CRYPTO: BTC) as a legal tender. What Happened: Alongside a blog post published on Sunday, the IMF tweeted that the risk of "privately issued crypto assets like Bitcoin...

What Happened: A recent report from the International Monetary Fund (IMF) states that cryptocurrencies pose more risks than benefits when it comes to adopting it as legal tender. In a recent blog, IMF officials Tobias Adrian and Rhoda Weeks-Brown concluded that attempting to make...

The Past Week, In A Nutshell What Happened: Last week ended positive alongside vaccine optimism and a retail sales beat. Remember This: “Regardless of who may win the election, we think the continued economic rebound will support future equity gains,” said Ryan Detrick, chief market...

International trade could contract 27% in the second quarter as the pandemic ravages global industries, according to the United Nations Conference on Trade and Development.  “Assuming persisting uncertainty, UNCTAD forecast indicates a decline of around 20% for the year 2020,”...

This morning’s focus will be oil prices and expectations for more stimulus to come as lawmakers mull a $500 billion stimulus package. First, crude oil: the May contract that expires tomorrow traded below 14 this morning in a clear reflection of supply concerns and demand destruction. Last...