A new economic index based on 240 million consumers offers optimism as the June inflation report is released this week. Original Image Link Source:www.usatoday.com
In mid-2023, Pakistan faced significant economic challenges, including due the devastating floods of the previous year. Since then, economic stability has been restored through careful policy-making. However, challenges remain, such as a narrow tax base, elevated spending pressures for social and development needs and building climate resilience, as well as low productivity and weak growth. MCD Director Jihad Azour will be joined by Pakistan’s Finance Minister Muhammad Aurangzeb to discuss the government’s ambitious policy and reform agenda and the path to sustainable growth.
Published: 23rd Oct 2024 07:34:23 By: IMF
IMF Video: Has the Transmission of US Monetary Policy Changed Since 2022?
The US economy grew strongly after the Fed hiked rates in 2022. Was this because monetary policy was less effective than usual? Or did other factors just offset it? We show Fed policy was about 25% weaker than usual, but only temporarily.
Published: 23rd Oct 2024 03:17:00 By: IMF
IMF Video: Transforming Social Safety Nets: A Digital Revolution
This Analytical Corner focuses on how digital technologies are transforming social safety nets in various country settings such as Brazil, DRC, India, Pakistan, Togo, and Türkiye. Join us to discover innovative strategies to identify, verify, and pay social benefits to enhance support for vulnerable households, even in low-capacity settings. Related publication: Expanding and Improving Social Safety Nets Through Digitalization: Conceptual Framework and Review of Country Experiences (IMF Note, December 2023).
Published: 23rd Oct 2024 03:16:51 By: IMF
IMF Video: The Nexus of Climate and Monetary Policy: Evidence from the Middle East and Central Asia
This paper investigates the effects of climate shocks on inflation and monetary policy in the Middle East and Central Asia (ME&CA) region.
We first introduce a theoretical model to understand the impact of climate risks on headline and food inflation. In particular, the model shows how climate shocks could affect the path of policy rates through food prices.
We then use local projections to estimate the impact of climate shocks on headline and food inflation. The results show that price stability is more easily achievable under positive climate conditions.
Overall, our findings shed new light on the importance of considering climate-related supply shocks when designing monetary policy, particularly in countries where food makes up a significant part of the CPI-basket.
Published: 23rd Oct 2024 03:16:42 By: IMF
IMF Video: The Clock is Ticking: Meeting Sub-Saharan Africa’s Urgent Job Creation Challenge
Sub-Saharan Africa urgently needs to create jobs for its growing population, especially in fragile and low-income countries. Three main challenges must be tackled: transforming informality, addressing firm growth barriers, and accelerating structural transformation.
Published: 23rd Oct 2024 03:16:33 By: IMF
World Economic Forum Video: AMGFC24 - Betazone: Keeping AI on Track
From bespoke gene editing to AI-powered healthcare, we are living in an age of breakthroughs propelled by advances in AI. What are the trade-offs societies and industries need to manage as AI adoption progresses?
Speaker:
Erik Brynjolfsson, Jerry Yang and Akiko Yamazaki Professor; Director, Digital Economy Lab, Stanford University
Host:
Zeina Soufan, Senior Anchor, Asharq News
This is the full audio from a session at the Annual Meeting of the Global Future Councils 2024 in Dubai on 16, Oct, 2024. Watch it here: https://www.weforum.org/events/annual-meeting-of-the-global-future-councils-2024/sessions/keeping-ai-on-track/
Links:
Article based on this session: https://www.weforum.org/agenda/2024/10/ai-augment-rather-than-dictate-human-action/
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Published: 22nd Oct 2024 09:23:19 By: World Economic Forum
World Economic Forum Video: What Is the Informal Economy? & Sustainable Space Exploration | WEF | Top Stories of the Week
This week's top stories of the week include:
0:15 What is the informal economy? – Erika Kraemer-Mbula is an expert on alternative development paths. She says the informal economy is more prevalent than many think, two-thirds of overall employment. It touches many areas, from retail to transport, domestic care, and even creative and intellectual labour.
4:49 Sustainable space exploration – Alice Bunn is the former head of the UK’s space agency and now leads UKspace, its space trade association. Billionaire space missions may steal the headlines, Bunn says, but the majority of space programmes benefit everyday lives all over the world.
9:32 AI can help preserve languages – 7,168 languages are spoken in the world today. But one dies out every 40 days. 90% could fall silent forever in the next 100 years. One key problem is that generative AI is trained on just a few of the world’s languages.
14:06 How tech can bridge access to justice – Gerald Abila was raised in Uganda in the 1980s during a period of bloody civil conflict. Abila planned on becoming an engineer. But his studies prompted the question: What’s the most powerful tool we can use to engineer a peaceful society? His answer: the law.
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Published: 19th Oct 2024 12:00:37 By: World Economic Forum
World Economic Forum Video: Closing Plenary: Collaboration for the Intelligent Age
Join this closing plenary to explore how the Global Future Councils can contribute to building intelligent economies and societies as the Annual Meeting of the Global Future Councils draws to a close.
Published: 18th Oct 2024 02:02:14 By: World Economic Forum
World Economic Forum Video: Collaboration in A More Contested World
The current turbulent geopolitical context has seen a rise of conflict and competition and a decline of trust in international systems.
As we reach a geopolitical tipping point, how can we build innovative pathways of cooperation to advance shared priorities?
Published: 18th Oct 2024 12:24:45 By: World Economic Forum
World Economic Forum Video: The Nexus of Innovation
As the Fourth Industrial Revolution advances, foundational technology domains are converging to create new opportunities. In addition to their breakthrough potential, the simultaneous development of quantum, robotics, AI and more are accelerating mutual advancements.
What are the driving forces behind this convergence and how can organizations position themselves strategically within it for future growth?
Published: 17th Oct 2024 11:04:58 By: World Economic Forum
Business Video: Former CEO of Abercrombie & Fitch indicted on sex trafficking charges
Mike Jeffries, the former CEO of Abercrombie & Fitch, has been indicted on 16 federal counts of sex trafficking and international prostitution in New York, and is accused of leveraging “a network of employees, contractors and security professionals” while he led the retailer. #CNN #News
Published: 22nd Oct 2024 07:15:00 By: CNN
Business Video: I test drove Volkswagen's electric revamp of its retro van. Is it worth $60,000?
Struggling to regain popularity in America, Volkswagen is hoping the all-new ID. Buzz electric van can tug at vintage heart strings. Having grown up with an original VW gas powered van, CNN’s Peter Valdes-Dapena phoned in his brothers for this electric test drive.
#cnn #news #carreview #car #volkswagen
Produced by John General and Zach Wasser
Senior Producer: Jackson Loo
Reporting by Peter Valdes-Dapena
Thumbnail courtesy Adobe Stock Photo/CNN
Published: 21st Oct 2024 03:14:28 By: CNN
Business Video: 'A toaster on wheels': Swisher reacts to Musk unveiling 'Robovan'
Embattled Red Lobster has a new CEO, and he’s just 35 years old. CNN reporter Nathaniel Meyersohn sat down with Damola Adamolekun over some shrimp and lobster tail to chat the future of the seafood company and the young CEO’s approach to work. #cnn #news #redlobster
Shot by Zach Wasser, Benjamin Evans, FJ Feng
Editor/Producer: John General
Senior Producer: Alexandra King
Reporter: Nathaniel Meyersohn
Published: 4th Oct 2024 03:00:54 By: CNN
Business Video: Telegram CEO’s arrest sparks debate over free speech online
The detention of the Russian-born billionaire founder of Telegram, a messaging app known for its unfiltered content, has sparked debate about freedom of speech and illegal content on the internet. Pavel Durov, 39, was detained at Paris’s Bourget Airport Saturday on a warrant related to Telegram’s lack of moderation. CNN’s Clare Duffy, and then senior researcher at the University of St. Gallen Matias Dewey, join Richard Quest to discuss. #CNN #news
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Tue, 22 Oct 2024 17:41:00 GMT Housing and other costs have gone through the roof in many parts of the state. Voters who feel that pinch say neither Harris nor Trump is seriously addressing their plight.
Tue, 22 Oct 2024 13:02:00 GMT In an election that will likely be decided on the margins, the votes of Jewish Pennsylvanians could be key to determining who wins the commonwealth’s 19 electoral votes – and with it, the presidency.
Tue, 22 Oct 2024 09:22:00 GMT Some banks see an end to the era of big gains in the stock market while others believe there is still more upside available.
Tue, 22 Oct 2024 07:36:00 GMT The UK’s top stock index recovered later in the day after improved predictions for the UK economy by the International Monetary Fund.
Mon, 21 Oct 2024 09:12:00 GMT In the past decade and a half, the US has done incredibly well economically compared to other countries. It added millions of jobs and quickly put the COVID pandemic behind it. Do things need to be ...