Tuesday, October 26News That Matters

Tag: Georgieva, Kristalina Ivanova

Debate Looms Over I.M.F.: Should It Do More Than Put Out Fires?

Business
Lopsided access to vaccinations, extreme economic inequality, rising food prices and staggering debt are on the agenda when the International Monetary Fund and the World Bank gather for their annual meetings in Washington next week.A pressing issue not in the official program is the controversy that has been swirling for weeks around the chief of the I.M.F., Kristalina Georgieva, threatening her leadership.An investigation last month accused Ms. Georgieva of rigging data to paint China as more business friendly in a 2018 report when she was chief executive at the World Bank. Ms. Georgieva has denied any wrongdoing.The scandal has focused on the bank’s credibility — billion-dollar decisions can be made on the basis of its information — as well as Ms. Georgieva’s culpability.But lurking behi...
‘We Were Left With Nothing.’ Argentina’s Misery Deepens in the Pandemic.

‘We Were Left With Nothing.’ Argentina’s Misery Deepens in the Pandemic.

Business
Before the pandemic, Carla Huanca and her family were making modest but meaningful improvements to their cramped apartment in the slums of Buenos Aires.She was working as a hairstylist. Her partner was tending bar at a nightclub. Together, they were bringing home about 25,000 pesos ($270) a week — enough to add a second story to their home, creating extra space for their three boys. They were about to plaster the walls.“Then, everything closed,” said Ms. Huanca, 33. “We were left with nothing.”Amid the lockdown, the family needed emergency handouts from the Argentine government to keep food on the table. They resigned themselves to rough walls. They shelled out for wireless internet service to allow their children to manage remote learning.“We have spent all of our savings,” Ms. Huanca sai...
As U.S. Prospects Brighten, Fed’s Powell Sees Risk in Global Vaccination Pace

As U.S. Prospects Brighten, Fed’s Powell Sees Risk in Global Vaccination Pace

Business
Jerome H. Powell, the Federal Reserve chair, stressed on Thursday that even as economic prospects look brighter in the United States, getting the world vaccinated and controlling the coronavirus pandemic remain critical to the global outlook.“Viruses are no respecters of borders,” Mr. Powell said while speaking on an International Monetary Fund panel. “Until the world, really, is vaccinated, we’re all going to be at risk of new mutations and we won’t be able to really resume activity with confidence all around the world.”While some advanced economies, including the United States, are moving quickly toward widespread vaccination, many emerging market countries lag far behind: Some have administered as little as one dose per 1,000 residents.Mr. Powell joined a chorus of global policy officia...