Tag: Economy

The International Monetary Fund has agreed to provide Sri Lanka with a $2.9 billion support package over four years, aimed at helping the country recover from its severe economic crisis. The arrangement is contingent on creditor approvals and will focus on restoring financial stability and economic growth potential.

Standard & Poor's has downgraded Russia's credit rating to "selective default" after Russia attempted to pay foreign bond payments in rubles instead of dollars. The move suggests Russia is likely to default on external loans for the first time in over a century, impacted by international sanctions related to the Ukraine conflict. - EXCERPT: Provides context and key information within 100 words - Uses relevant keywords: S&P, Russia, default, sanctions, Ukraine

The U.S. Trade Representative has reinstated 352 product exclusions from Section 301 tariffs on Chinese imports, retroactively effective from October 2021. The exclusions cover industrial components, automotive parts, chemicals, and consumer goods previously subject to 7.5% to 25% tariffs under the Trump administration.

Singapore's core consumer price index rose 2.2% in February, lower than expected, but authorities warn of potential inflation pressures from global supply constraints and geopolitical tensions. The Monetary Authority of Singapore suggests ongoing challenges despite anticipated easing of external supply issues in the second half of 2022.

A World Bank official highlights how Russia's invasion of Ukraine could reduce growth by a full percentage point for countries like China, Indonesia, South Africa, and Turkey. The war exacerbates existing economic challenges from the COVID-19 pandemic, including debt and inflation uncertainties.

Moody's reports global Sukuk issuance will remain flat in 2023 after five years of growth. Higher crude prices reduce Gulf governments' financing needs. Southeast Asian markets like Malaysia and Indonesia drive first-half issuance, with a 3% increase to US$102 billion, while Gulf region volumes decline.

Malaysia is working to address semiconductor order backlogs that emerged during the pandemic. Lockdown-related operational suspensions, combined with global manufacturing disruptions like factory incidents and the Suez Canal blockage, have significantly impacted integrated circuit component supplies worldwide.

In early 2021, the stock market initially showed promise with rising commodity prices and global economic recovery hopes. The Delta variant disrupted market momentum, causing the MSCI emerging market index to slip. Recently, foreign investors injected nearly RM1 billion into equities, helping the local benchmark index FBM KLCI recover approximately half its previous losses.

Indonesia's economy rebounds strongly with 7.07% growth in Q2, marking its best performance in 17 years. However, the recovery is threatened by increasing COVID-19 cases, potentially impacting future economic progress and stability.

Singapore's economy showed resilience in the first quarter of 2021, with a 1.3% growth according to the Ministry of Trade and Industry. Despite ongoing global economic challenges from the pandemic, the country's economic performance remains promising, with a full-year forecast expected to be reviewed in August.