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International Monetary Fund (IMF)

International Monetary Fund (IMF)
Latest news, features and opinion on the International Monetary Fund (IMF). The 189-nation IMF promotes global monetary cooperation, facilities trade, encourages sustainable growth and makes funds available to countries experiencing fiscal difficulties.
Raygorodok gold mine in northern Kazakhstan. The operation is a rare example in Central Asia of a long-standing private mining venture. Photo: SCMP
Belt and Road 2026

How Hong Kong can capitalise on Kazakh asset sales

The city’s deep capital markets and SOE listing expertise offer Central Asia’s largest economy a proven pipeline to global investors.

Hong Kong economy

Hong Kong to propel belt and road market expansion, finance chief says

China trade

China rejects G20 trade-imbalance claims, says no need to devalue yuan

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South Korea

South Korea sets record US$600 billion budget, backed by chip windfall

The spending plan ‌represents a 12.8 per cent rise from 2026, marking the largest year-on-year increase in the country’s history.

A man uses his mobile phone with the construction site of the Yongin semiconductor cluster in the background on July 21. Photo: Reuters
India

‘Islamic Nato’? Why Pakistan’s new defence pact has India on edge

Analysts say the pact could evolve into a broader ideological military bloc that could extend its influence to the Indian Ocean region.

Banking & finance

Macroscope | Behind the AI stock market bubble lies a weak yen

The tech stock boom, financed in large part by the yen carry trade, is at risk of collapse if the currency strengthens.

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China-Latin America relations

Argentina extends US$19 billion China currency swap despite US pressure

Buenos Aires locks in the yuan line until 2031, months after the US Treasury Department offered a rival facility.

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Argentine President Javier Milei campaigned on a pledge never to do business with communist governments, but later sought Beijing’s help to extend the currency swap. Photo: Reuters
China technology

Open Questions | Nobel laureate Simon Johnson on the AI race and China’s ‘over-automation’ risks

The Nobel Prize-winning economist discusses how AI is reshaping US-China competition – and poses unique challenges for both economies.

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US-China relations

Open Questions | Nobel economist on anti-China, anti-science US, AI’s risks

MIT’s Simon Johnson, former IMF chief economist, on Trump’s wrong turns, including tariffs, the AI threat to Chinese jobs and the chances of a global recession.

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Global monetary policy

Amid rising dollar risks, Plaza Accord-style unity not feasible: ex-IMF adviser

Economic historian Barry Eichengreen says if current policy paths persist, modern rifts could bring about a confidence crisis in the US currency.

China’s yuan is often cited as a possible alternative to the US dollar in global trade. Photo: Reuters
Artificial intelligence

Macroscope | Don’t expect the rising tide of AI to lift all boats

While economies linked to hi-tech supply chains may perform well, unequal outcomes and economic instability still loom for much of the world.

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Workers walk outside a data centre building under construction in Johor Bahru Malaysia, on September 28, 2024. Photo: AP
United States

IMF sees world economy growing just 3% this year amid Iran war

The outlook is weighed down by the Iran war but helped by AI and other technologies.

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China economy

Opinion | A healthy economy isn’t built on asset bubbles and debt pyramids

A financial system designed to increase market valuations rather than improve people’s quality of life is prone to crisis.

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Science

Chinese police uncover link between investment and attacks on citizens in Africa

Chinese projects, firms and workers in Africa more vulnerable to security threats in regions where armed conflict, social tensions thrive.

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Passengers get off a train at a station on the Chinese-built Lagos-Ibadan Railway in Nigeria. Photo: Xinhua
Venezuela

Venezuela’s leader defends quake response as thousands remain missing

In her first press conference since taking power after Maduro’s capture by the US, Rodriguez lashes critics.

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Venezuela’s Interim President Delcy Rodriguez holds press conference on Thursday. Photo: Reuters
US, Israel war on Iran

Iran survived 3 months of war. Can it survive the aftermath?

US$270 billion in damage and 4 million citizens plunged into poverty may have broken Iran’s economy.

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Venezuelan crisis

In Venezuela, China’s oil-for-loan deals run into huge US-led debt restructuring

Beijing’s influence in Caracas seen fading, with Washington controlling Venezuela’s oil revenues and debt overhaul, potentially triggering a stand-off.

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China-EU relations

As I see it | Europe wants a new Plaza Accord for China – seriously?

Instead of hoping for Beijing to commit economic suicide, it would be more realistic for the EU to strike a mutually acceptable trade deal.

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European Council President Antonio Costa (second left) walks with German Chancellor Friedrich Merz amid discussions on the EU budget for 2028, in Brussels, Belgium, on June 19. Photo: dpa
China-EU relations

European Central Bank’s President Lagarde urges talks on yuan undervaluation

China has denied it manipulates its currency for trade advantage but its surging trade surpluses are worrying leaders of the G7 nations.

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Americas and the Caribbean

Bolivian lawmakers approve state of emergency as protests choke supply chain

Analysts ⁠and legal experts have warned that the emergency powers could deepen unrest if they fail to address the protests’ underlying causes.

Bolivia (Plurinational State of)

Bolivia’s president declares state of emergency, paving way for troop deployment

Protests have brought the country’s economy to a halt over issues ranging from the cutting of fuel subsidies to discontent over wages.

A soldier stands outside the Estado Mayor headquarters in La Paz on Saturday, after Bolivian President Rodrigo Paz declared a nationwide state of emergency following weeks of violence and blockades. Photo: Reuters
Artificial intelligence

Outside In | AI’s looming impact on jobs warrants some brakes on development

Just as drugs can’t go to market without thorough testing, the uncertainty surrounding the effect of AI means it must face globally agreed regulations.

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A staff member collects data on a robot’s movements as it works in a simulated supermarket at the embodied intelligence robot data and training base of the Beijing Innovation Centre of Humanoid Robotics in Beijing on June 12. Photo: Xinhua
Banking & finance

Open Questions | AIIB head Zou Jiayi on multilateralism as ‘infrastructure of global trust’

As the Beijing-based development bank marks its 10th anniversary, its president says institutions like hers ‘create certainty amid uncertainty’.

Yuan

Yuan poll finds 95% of overseas firms expect to sustain or boost use of currency

Increased international adoption of China’s currency highlights progress in Beijing’s strategic push amid the US dollar’s global financial dominance.

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Banking & finance

Mainland China set to issue US$2.2b of sovereign bonds in Hong Kong next week

The offering is expected to be popular with central banks and sovereign funds seeking to diversify away from US dollar assets.

The Ministry of Finance has announced that it plans to issue 15 billion yuan (US$2.2 billion) worth of sovereign bonds in Hong Kong next week. Photo: Getty Images.
China trade

New global financial architecture needed to end trade surplus fixation: Piketty

Economist proposes central bank and currency under the UN to remove fears that ‘world financial markets are going to eat your currency’.

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French economist Thomas Piketty in Hong Kong in 2018. Photo: Edward Wong
Banking & finance

Macroscope | Why bond yields are going up everywhere

Unlike stock markets, bond markets are signalling a more cognisant and mature appreciation of the state of government finances.

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China-EU relations

European leaders get ready to ‘act now’ amid rising fears of ‘China shock 2.0’

Ahead of a key debate on Friday, most commissioners said to support a more robust stance and broader use of safeguard measures.

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