IMF latest news

 

Aditya Narain and Marina Moretti on Regulating Fintech August 23, 2022 Welcome to episode 4 of Fintech Forward, the IMF podcast that focuses on financial technology. Hosted by IMF economist Tara Iyer, the special 5-part series draws from the expertise of the IMF Monetary and Capital Markets Department (MCM) to better understand the impact of emerging technologies on financial systems and local economies around the world. In this podcast, MCM's Aditya Narain and Marina Moretti say regulation of financial technology aims to protect consumers and markets, not stifle innovation. Marina Moretti is Assistant Director, Aditya Narain is Deputy Director, and Tara Iyer an economist, all in the IMF Monetary and Capital Markets Department. Listen to the podcast Read the transcript   ***** Thanks for listening to the podcast. We're always looking to improve your experience so let us know if you have any suggestions! Send your comments to me at bedwards2@imf.org.   Bruce Edwards Producer, IMF Podcasts

High-quality, reliable, and comparable gauges are lacking. Here’s how to close the gap.

Dear maria, We just published a new blog—please find the full text below.  Achieving Net-Zero Emissions Requires Closing a Data Deficit (IMAGE: HURCA/ISTOCK BY GETTY IMAGES AND IMF) By Charlotte Gardes-Landolfini and Fabio Natalucci Climate change is transforming the global investment landscape, creating new risks and opportunities. Physical risks, from rising sea levels to the lethal heat waves scorching Europe and elsewhere, affect asset values for everything from stocks to real estate and infrastructure. So-called transition risk—including government policies to reduce greenhouse gas emissions—lowers the value of fossil fuel companies.

NATO latest

 

Secretary General stresses NATO long-term support for Ukraine at Crimea Platform The NATO Secretary General, Mr. Jens Stoltenberg, participated with President Volodymyr Zelenskyy and other world leaders in the online Summit of the International Crimea Platform on Tuesday (23 August 2022). He detailed the strong support that NATO and Allies are providing Ukraine. Click here to download the speech of NATO Secretary General at the Crimea Platform Summit. The transcript of the speech is available on the NATO website.

WTO TRADE BAROMETERS

WTO TRADE BAROMETERS

Goods Barometer points to stagnating global trade growth

The latest WTO Goods Trade Barometer issued on 23 August was steady but below the recent trend line for merchandise trade, suggesting that global goods trade continued to grow in the second quarter of 2022 but that the pace of growth was slower than in Q1 and is likely to remain weak in the second half of the year.


Goods Barometer points to stagnating global trade growth

The Goods Trade Barometer is a composite leading indicator for world trade, providing real-time information on the trajectory of merchandise trade relative to recent trends. The latest reading of 100.0 coincides exactly with the baseline value of the index, indicating on-trend trade expansion.

However, the overall barometer remains below a companion index representing actual merchandise trade volumes, suggesting that year-on-year trade growth may slow further but remain positive when official Q2 statistics become available, with trade simultaneously weighed down by the conflict in Ukraine and buoyed by the lifting of COVID-19 lockdowns in China.

The volume of world merchandise trade plateaued with year‐on‐year growth slowing to 3.2% the first quarter of 2022, down from 5.7% in fourth quarter of 2021. The slowdown in Q1 only partly reflected the impact of the conflict in Ukraine, which broke out in late February. Lockdowns in China also weighed heavily on trade in the first quarter.

The components of the goods barometer are a mixed bag, with most indices showing on trend or below trend growth. The forward-looking export orders index (100.1) is on trend but has turned downwards. The automotive products index (99.0) is only slightly below trend but has lost its upward momentum. Indices for air freight (96.9) and electronic components (95.6) are below trend and pointing down, while the raw materials index (101.0) has recently risen slightly above trend. The main exception is the container shipping index (103.2), which has risen firmly above trend as shipments through Chinese ports have increased with the easing of COVID-19 restrictions.

The latest barometer reading is consistent with the WTO's most recent trade forecast from last April, which predicted 3.0% growth in the volume of world merchandise trade in 2022. However, uncertainty surrounding the forecast has increased due to the ongoing conflict in Ukraine, rising inflationary pressures, and expected monetary policy tightening in advanced economies. A revised forecast will to be issued in early October.

The full Goods Trade Barometer is available here.

Further details on the methodology are contained in the technical note here.

GAIN Reports from August 22, 2022

 

The following GAIN reports were released on August 22, 2022. _______   Burma: FAIRS Export Certificate Report Annual This report lists the major certificates required by Burmese government agencies for U.S. agricultural products exported to Burma. The list of certificates primarily focuses on major U.S. agricultural exports to Burma, such as soybeans and soybean meal, wheat products, distillers dried grains with solubles, meat and poultry products, fruits and vegetables, other grocery items, and seeds. This report reflects updated certificate requirements for imported meat, poultry, animal feed, and human food products. There are no changes in the certificate requirements from the previous report.   Burma: FAIRS Annual Country Report Annual This report reflects updates on the Food law in Section I, Food Labeling in Section II, and import procedures Section IX.   Canada: Biofuels Annual Canada’s Clean Fuel Regulation (CFR), Quebec's new low-carbon fuel regulation, and E15 in Ontario (in 2030) are expected to drive up ethanol demand in Canada. The CFR became law on July 6, 2022 and is designed to reduce greenhouse gas (GHG) emissions associated with transportation fuel. In 2021, Canadian imports of U.S. fuel ethanol increased eight percent, year-over-year, to 1.3 billion liters. This increase was driven by higher Canadian fuel usage and an increased share of domestic supply going to exports. In 2022, imports of U.S. fuel ethanol are forecast at a record 1.5 billion liters with further expansion of the fuel pool and an upward trend in the average nationwide blend level.   China: US Lobster Leads Summer Cooking Trend In the summer of 2022, ATO Beijing Director Lashonda McLeod Harper, together with Chef Andrea Susto and Chef Rain Xing from Michelin star restaurant, Opera Bombana, created cooking videos that combined Chinese and Western cuisine featuring U.S. food and wine. The demonstration videos were launched during China’s Dragon Boat Festival and were an instant social media hit, receiving well over 1.1 million views.   China: Wood Products Annual The People’s Republic of China’s (PRC) wood manufacturing sectors are facing significant headwinds including rising costs, weakening economic conditions, COVID-19 related disruptions to operations, and increasing international competition. China’s wood product imports are forecast to decline significantly in 2022 due to weak market demand, particularly in the housing sector, and logistics challenges. Recently released draft implementation regulations of the 2020 Forest Law do not stipulate any changes to existing PRC timber import policies and could leave the PRC as the world’s top importer of illegal timber, a major cause of illegal deforestation.   Honduras: Sugar Annual Sugar production and exports are projected slightly up in marketing year (MY) 2023 (October 2022 to September 2023) because of the increase in productivity yields, harvested area, additional investments in the sugar sector and increased exports as the Honduran Sugar Industry recovers from the impact of hurricanes ETA and IOTA in November 2020. MY 2022/23 revised estimates show an increase of 0.74% for sugar production and 1.15% in sugar exports. Recovery efforts are expected to last until the end of Fiscal Year (FY) 2023, however the sugar industry is already reaching production levels similar to those reached in FY 2020. Therefore, MY 2023 forecasts signal a rebound to pre-hurricane estimates: 5.28 million MT of sugarcane harvested, 548,000 MT of sugar produced, and 176,000 MT of sugar exported.   India: Indian Government Publishes New Protocol Granting Expanded Market Access for US-Origin Cherries  On August 3, 2022, the Plant Quarantine Division of the Ministry of Agriculture and Farmers Welfare, Government of India, published the Plant Quarantine (Regulation of Import into India) (Third Amendment) Order, 2022. The amended order relates to the import of pome fruits from different countries, including the United States, and grants expanded market access for U.S.-origin cherries from the northwest United States. To date, the amendment order has not been notified to the World Trade Organization.   Israel: Israel Grants Market Access for US Processed Meat Products In June 2022, Israel authorized the import of U.S. processed meat products, thus making the United States the first and only country with market access for processed meat products in Israel.   Japan: Japan Proposes to Streamline GI Application Process Japan’s Ministry of Agriculture, Forestry, and Fisheries proposed to revise the Geographical Indication (GI) Act to boost exports of GI-protected processed foods. Comment period ends on September 1, 2022.   Japan: Japan Sets New 2030 Targets for Green Food System Strategy  The Ministry of Agriculture, Forestry, and Fisheries released 2030 targets for its “Green Food System Strategy,” including a 10.6 percent reduction in carbon dioxide emissions, a 20 percent reduction in use of chemical fertilizers, and a 10 percent reduction in use of chemical pesticides. MAFF previously set both 2030 and 2050 targets for other key performance indicators, including electrification of agricultural equipment, expansion of organic production, and consideration of sustainability for imported food and agricultural products.   Thailand: Successful US Food Showcase at US Pavilion-Thaifex Anuga Asia 2022 The successful physical U.S. pavilion at Thaifex Anuga Asia 2022 featured a variety of U.S. food and beverages products and partnered with nine U.S. cooperators and one state department of agriculture as well as 16 importers. Thaifex Anuga Asia was well attended this year with over 51,000 visitors.   For more information, or for an archive of all FAS GAIN reports, please visit gain.fas.usda.gov/.

CDC:Join Us to Talk Products for Patient Safety

 

Join Us to Talk Products for Patient Safety
Experts from CDC, FDA, academia & industry discuss product development to combat healthcare-associated infections

There is still time to register for next Tuesday’s Drug Development Considerations for the Prevention of Healthcare-Associated Infections public workshop, co-sponsored by CDC and the Food & Drug Administration (FDA). Join experts from CDC, FDA, academic researchers, patient representatives, and private industry to discuss: The current state of development of pathogen-directed products used to prevent healthcare-associated infections (HAIs) Evidence supporting decolonization and pathogen reduction (in colonized patients) as a strategy to prevent infection and transmission of antimicrobial-resistant healthcare-associated pathogens Antimicrobial resistance threats as potential targets for decolonization and pathogen reduction Challenges and potential approaches to drug development and registration of products for the prevention of healthcare-associated infections

	Join me at next week’s @CDC_AR and @US_FDA workshop on products to prevent healthcare-associated infections and combat #AntimicrobialResistance. Registration: https://bit.ly/3xwoA2t

The Prime Minister, Justin Trudeau, today issued the following statement on..

Statement by the Prime Minister on Black Ribbon Day

August 23, 2022
Ottawa, Ontario

The Prime Minister, Justin Trudeau, today issued the following statement on Black Ribbon Day, the National Day of Remembrance for the Victims of Communism and Nazism in Europe:

“Today, we join people from around the world to honour the victims and survivors of communism and Nazism in Europe, and pledge to continue standing up for all those who still face violence and oppression at the hands of authoritarian regimes.

“Black Ribbon Day marks the anniversary of the Molotov-Ribbentrop Pact, which was signed on this day in 1939 between the Soviet Union and Nazi Germany and resulted in the division of Poland and the annexation of the Baltic states as well as part of Romania by the Soviet Union.

“Across Central and Eastern Europe, millions of people suffered tremendously under totalitarian regimes, including Jewish, Romani, Slavic, disability, and LGBTQ2 communities. They were robbed of their basic human rights, forced to flee their homes, and murdered. Many of those who escaped the Soviet and Nazi regimes found new homes in Canada and have helped shape the strong and diverse country we know today. Their stories remind us that we all have a responsibility to ensure atrocities like these never happen again.

“This year, we also stand in solidarity with the Ukrainian people, who continue to face brutal violence from Russia’s illegal, unjustifiable, and expansionist war of choice in their country. Canada, together with our Allies and international partners, will continue to support Ukraine and stand up for democracy and human rights everywhere.

“On behalf of the Government of Canada, I encourage all Canadians to pay tribute to those who have suffered or lost their lives to totalitarian and authoritarian regimes – past or present. Together, we must continue to reject extremism, intolerance, and oppression, while promoting human rights, freedom, and democracy here in Canada and around the world.”

Prime Minister announces additional support for Ukraine

August 23, 2022
Toronto, Ontario

NASA's Earth Observatory:LATEST IMAGES OF THE DAY

 

AUGUST 23, 2022 Weekly News

LATEST IMAGES OF THE DAY view the archive

Lake Powell Still Shrinking The second largest reservoir in the United States now stands at its lowest level since it was filled in the mid-1960s.       Rio Grande Runs Dry, Then Wet Residents of Albuquerque saw a dry riverbed for the first time since 1983.       Solar Takes a Swim As countries look to decarbonize their economies, floating solar farms have become an option.       Earth's Limb with a Crescent Moon Astronauts viewed the layers of the atmosphere while orbiting over the southwestern Pacific Ocean.       Eruption in Fagradalsfjall, Iceland In southwest Iceland, in early August 2022, another volcanic eruption began on a fissure swarm that last year awakened from nearly a millennia of quiet.       Greening the Gulf of Finland Blue-green algae are thriving in warmer-than-normal waters this summer.       Myakka River State Park Alligators are among the residents of Florida's largest and oldest state park.

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