In Pakistan, old hopefuls jostle to turn around struggling economy | Business and Economy News

In Pakistan, old hopefuls jostle to turn around struggling economy | Business and Economy News

Pakistani voters head to the polls on Thursday amid a deep-seated economic crisis. Inflation is hovering at 30 percent, close to 40 percent of people live below the poverty line, and the debt-to-gross domestic product (GDP) ratio has climbed to 72 percent. Pakistan’s new government will have to contend with…

Why does the IMF predict strong Russian growth despite sanctions? | Business and Economy

Why does the IMF predict strong Russian growth despite sanctions? | Business and Economy

IMF upgrades growth outlook for Russia and downgrades expectations for the eurozone. The International Monetary Fund predicts strong growth for Russia’s economy this year, despite sanctions imposed for its invasion of Ukraine. European nations trail well behind Russia in the IMF growth forecast. What’s behind these figures? Presenter: Adrian Finighan…

Argentina’s Milei starts shock therapy by devaluing peso by 50 percent | Business and Economy News

Argentina’s Milei starts shock therapy by devaluing peso by 50 percent | Business and Economy News

New president Milei warns of painful measures as currency value slashed, subsidies cut, public works tenders cancelled. Argentina’s government has announced it will slash the value of its currency, the peso, by more than 50 percent against the US dollar as its new far-right president seeks radical solutions to fix…

Lula faces numerous challenges as Brazil assumes G20 presidency | Business and Economy News

Lula faces numerous challenges as Brazil assumes G20 presidency | Business and Economy News

As Brazil takes over the G20 presidency on December 1 from India, Luiz Inácio Lula da Silva will be challenged to fulfil his promise of holding up the interests of the global south amid two ongoing wars and a slowing global economy. Lula also takes over at a time of…