The IMF has raised its UK growth forecast to 1% for this year, making it the third fastest-growing G7 economy in 2026. This upgrade comes amid hopes the economic impact of the Iran conflict may be less severe than feared, with oil prices stabilizing and inflation easing.
The IMF has raised South Korea's 2026 growth forecast to 2.6%, citing strong global demand for memory chips and AI adoption, which offsets the impact of the Middle East war. This projection is the highest among advanced economies in the IMF's report.
The IMF has advised UK Chancellor Rachel Reeves to maintain spending limits, warning against caving to demands for government support. The advice, while milder than previous rebukes, urges focus on controlling welfare costs and efficiency in public services. The article questions the untouchability of pensioner benefits compared to those for younger generations and those in work.
The IMF predicts lasting diesel and jet fuel shortages due to the Iran conflict, impacting global economy and food security. "Scarring effects" lead to growth forecast downgrade.
Global finance talks are being forced to downplay the climate crisis due to US pressure, with countries urged not to mention climate even while addressing the oil crisis. Experts warn this is "beyond absurd" and disastrous for developing nations.
