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29th Mar 2024

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IMF warns global trade war could cost $430bn

The global economy could suffer a $430bn loss in GDP as a result of a trade war between the US and the rest of the world, the International Monetary Fund has warned, adding that the US itself would be "especially vulnerable", the Guardian reported. The IMF said the new tariffs risked lowering global growth by 0.5 percent by 2020, and the US would find itself "the focus of global retaliation".

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Opinion

EU Modernisation Fund: an open door for fossil gas in Romania

Among the largest sources of financing for energy transition of central and eastern European countries, the €60bn Modernisation Fund remains far from the public eye. And perhaps that's one reason it is often used for financing fossil gas projects.

'Swiftly dial back' interest rates, ECB told

Italian central banker Piero Cipollone in his first monetary policy speech since joining the ECB's board in November, said that the bank should be ready to "swiftly dial back our restrictive monetary policy stance."

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