result they changed their estimates and they're a little more negative now back in april the international monetary fund projected two point three percent growth in two thousand and seventeen followed by a modest uptick in two thousand and eighteen but just two months later the i.m.f. is offering less optimistic figures the fund is now estimating two point one percent growth in both twenty seventeen and twenty eighteen what's more concerning is the expected fall in growth to one point seven percent and twenty twenty two it's a pretty significant change in just a couple of months but it follows weeks of hyper partisan fights over u.s. health care law so that coupled with doubts over other trump policies on tax and infrastructure led to the disappointing figures in the report the fund wrote the us economic model is not working as well as it could in generating broadly shared income growth most critically relative to historical performance post-crisis growth has been too low and too unequal the group also emphasized the looming threat of an overvalued dollar and rising public debt as problems to fix before

in other news: the international monetary fund has cuts its growth forecasts for the us economy due tosident trumps policies. the imf has cut this years expectation from 2.3% to 2.1% and next year's from 2.5% to 2.1%. it compares to the white house's target of 3% growth in the world's biggest economy. the imf said high employment rates made expansion hard and urged the us to maintain it's commitment to free trade. to maintain its commitment to free trade. more than a quarter of the world's population is now using facebook every month according to the social platform's founder mark zuckerberg. more than two billion people have now signed up to use it since he created the company 13 years ago. the huge user numbers have turned it into one of the world's most popular platforms for businesses to advertise on but also led to criticism over posts of illegal and violent material. a hugely ambitious plan to provide broadband links from orbit to every corner of the globe by satellite has begun in france. the aerospace giant airbus and its partner, 0neweb, have started the production of a mega—s

role with a canadians allegation is instrumental in drafting provisions of the fledging international monetary fund and the international bank. a few years later in 1947 a canadian played a leading role at the meeting in geneva that led to the development of trade. john is generally credited with the universal declaration of human rights which was adopted by the un general assembly in 1948. that was the first of what became a series of declarations of standards in this vital area. lester b pearson. he was awarded the nobel prize for the creation.mm these institutions may seem commonplace today. we may take them for granted, we should not. i years ago they were revolutionary and they set the stage for the longest time of peace and prosperity in our heritage. . . ly in caring for our common home that led us to the treaty of the modern era. it is what led us to the protocol of 1987 to phase out pscs and preserve the ozone layer. it is what led assaults me to paris with 194 signatories at our side. that is global cooperation. it's important to note that please -- the sacrifices required to support and

late on thursday, after months of wrangling, european finance ministers, together with the international monetary fundlly agreed to give athens its latest slice of bailout money. and there's a hint it could get some relief from its crippling debt mountain next year. let's show you the details. greece will finally get this — 8.5 billion euros — part of an 86 billion euro bailout plan agreed in 2015 which is the third it has had. it will come just in time, as greece faces 7.3 billion euros of debt repayments due next month. it's total debt now stands at more than 337 billion euros. —— its total debt now stands at more than 337 billion euros. to put that in perspective, have a look at this — the red is greece's debt level over the past decade. the grey is its annual economic output or gross domestic product — everything of value that the country produces. the debt is currently some 180% of gdp — one of the highest levels in the world. it has struggled to narrow the gap because round after round of austerity — demanded by its lenders — has steadily weakened its economy. that's why greece has been insistin

and the head of the international monetary fund, speaking in germany, said that the hike was positiveca, long a driver of global growth. inflation is getting close to where it should be and notjust inflation but core inflation as well, so those are good indicators of an economy that is doing better — largest in the world, hopefully with good spillover effects elsewhere in the world. but not all signs are good — retail sales just dropped sharply. if american consumers feel upbeat it is not shown in their spending. us investors are a different matter. stock markets continued to hit all—time highs. so is it full steam ahead forfurther all—time highs. so is it full steam ahead for further rate rises?” don't think the fed is giving a massive vote of confidence. they are saying they can ease off the accommodation are bit and so really they are still looking at two aspects of the economy — what they can and can't help. with the trump administration struggling to enact the economic agenda more than ever control of the us economy lies here with the federal reserve. and today's decision to rais

the canadian delegation was instrumental in tracking provisions of the fledgling international monetary fund and the international banks for construction and development. a few years later in 1947 the canadian played a leading role in geneva that led to the development of the general agreement on tariffs and trade a precursor to the wto. it is a canadian who is generally credited as the principle author of the declaration on human rights which was adopted by the u.n. general assembly in 1948. that was the first of what became a series of declarations that international standards in this vital area. let us not neglect the great canadian perhaps the best known for his humanitarian intervention, leicester p. person that he was awarded the nobel prize for his leadership during the suez crisis of 1956 before the creation of the modern peace agreement. these institutions may seem commonplace today. we may take them for granted. we should not. 70 years ago they were revolutionary and they set the stage for the longest period of peace and prosperity in our history. it was the same appreciation of th

south korea was brought to its knees and accepted a bailout from the international monetary fund.ir own gold to help protect the economy. our correspondent steve evans met with one of the women. 20 years ago, ordinary citizens took the wedding rings from theirfingers ordinary citizens took the wedding rings from their fingers and gave them away to their country. tv campaigns mobilised south korea as it ran out of money to buy imports. banks were on the verge of bankruptcy. a third of the country's biggest conglomerates were bankrupt. one of the ordinary people who stepped in was this woman. she was honoured later for her patriotism. translation: we gave rings that were gifts when our children were born, and when i got married. they had great sentimental value, but we decided to sell them to save the nation. so, 20 years on, was it all worth it? translation: of course it was worth it. i believe we played a pa rt was worth it. i believe we played a part in helping the country at a time of crisis. i have no regrets, andi time of crisis. i have no regrets, and i still feel proud about

reporter: the international monetary fund upgraded the second-largest economy from 4.6% to 4.7%. state action from easy money lending to public investment. china grew faster than expected by 6.9% in the first quarter of the year. this is the latest economic data, showing a slow investment in the housing market but a growth in factory and retail. genie: there is trouble at the insurance giant and bank. -- ambank. beenter: the sender has detained by regulators. they went on a massive spending spree including getting the ball or a story of.f. he was taken away on friday from officials by china's insurance regulator. they said it was personal reasons. guests in have fallen on shanghai market. genie: what about today? reporter: the federal reserve interest rate expected later today. we are certainly expecting the american central-bank to raise rates at its meeting. european markets, and the u.k., unemployment showing to stay 70 at 4.6% for april, the lowest in 42 years. and one company we are keeping an eye on, the fashion retail giant. and others hasra risen 23%. it is the biggest fa

the international monetary fund is downgrading growth forecast for the american economy and casts doubt on the fiscal plans for the trip administration saying they will not confident the white house would push through plans to cut taxes and reduce financial regulation. that could impact economic momentum. they predicts the world's largest economy will grow 2.1% rather than the 2.3% forecast. expansion could drop 1.7%. moving on to the other business headlines, european union and japan are pressing ahead with talks to forge a free trade agreement. the negotiations have been underway since 2013 but who has taken greater urgency. spain's banking sector continues to consolidate. valuing taking over that smaller lender at 825 million euros. both banks were nationalized in the 2012 housing crisis and the government remains the primary shareholder. they could begin selling of shares by the end of this year. the bank of england says the u.k. lenders need to set aside 11 and a half billion pounds. 13 billion euros to protect against the risk of bad loans. the financial policy committee cited ris

. >> on the international monetary fund, they lowered their forecast for u.s. economic growth down to 2.1%, which is lower than what the president has been -- can you share some reaction on what you think about this new imf forecast. >> i haven't had a chance to dig into that but we'll certainly circle back with you on it. >> you called on me, sarah. >> jim, let me take kristen. i did call on her. >> thank you. i appreciate it. if syria is poised to launch another chemical weapons attack, isn't that an acknowledgment that the air strikes in april didn't work, sarah? >> look, i think that our goal every day is to do what we can to protect life in all forms, and to take steps to move the ball forward in defeating isis, defeating all efforts of terrorism and i think the statement yesterday helped do that. >> while will a paper statement work, though, when air strikes didn't dissuade bashar al assad. >> i don't know that it didn't based on what we know at this point. >> just to follow up very quickly, was there a principals meeting, a deputies meeting before that s

the lack of details on his plans to reform the economy have front of the international monetary fundt its u.s. growth forecast for this year and next. reporter: a previous forecast predicted the government's plan to cut taxes and increase infrastructure planning would boost growth in the u.s. but uncertainties surrounding the plans has caused them to remove it from the outlook, which it is now slashed. it is also skeptical that white house policies -- >> many of these policies -- however, looking at the international experience in new last four years, looking at u.s. data, it is unlikely that the set of policies can generate and eczema duration of growth of a magnitude of approximately 1%. reporter: the imf warned that some proposals to cutting back on social programs could slow or the economy rather than boost it. as with measures that oppose free trade. the fund also says u.s. growth goals could be hampered by an aging population and the labor market already at full employment. christoph: regulators in california have concluded the controversial weedkiller glyphosate can intentiona

the involvement of the international monetary fund which is expected to approve in principle.t is a sticking point. the imf and greece has been hoping for measures to ease the country's debt load. minister saidce while they do not get everything they wanted, progress has been made. >> we feel there is a much greater clarity on a both the greek people -- both the greek people and the financial markets. is it as much clarity as the greek people deserve after all of the forms carried out and all of the sacrifices that have been made? perhaps not, but we recognize that we do not want the perfect to be the enemy of the good. we recognize that all sides have tried to give an compromise to some extent. >> time for a check of the markets. european indexes trading higher. investors are feeling optimism. auto sales are doing well as fresh data shows european new car registration rose nearly 8%. tesco soar. let's take a look at more business headlines. takata is expected to file for bankruptcy. the company is facing billions of dollars in liability from forctive airbags worldwide and the

the international monetary fund has said the euro area's economic recovery has gained momentum however it did warn that some of the region's high debt countries may face difficulties when monetary policy accommodation is reduced. at the same time, the fund cautioned that core inflation is at under his -- undesirably low levels. in the u.s., special counsel mueller's move to investigate whether donald trump socked to get the fbi to back off has angered to the president. tweeting about the subject three times in the last 24 hours, the most recent one red -- cricket -- and they talk about obstruction. u.s. military is said to be beefing up its presence in afghanistan of according to the associated press. donald trump has authorized aid of appointment -- a deployment. the pentagon said no decision has been made yet in recent months. generals in the region recommended adding more than 5000 troops. global news 24 hours a day powered by our 2600 journalists and analysts in more than 120 countries. you can find more stories on the bloomberg at top . anna: an interesting session here in asi

the world bank and the international monetary fund are offering to pitch in.firms say politicians don't understand them. >> creating good jobs is key and politicians have to strengthen their support for us rather than just saying do this project so we can curb migration. instead they have to say midsized firms, we will give you this kind of backing or support so you can do these projects. reporter: german firms a say they are ready but only if the conditions are right. javier: it is a very bold project. earlier i spoke to the nigerian minister of -- okechukwu enelamah. i asked him if betting on investments truly is the right approach to keep african economies growing. mr. enelamah: for the most part i'm a yes. -- most part, yes. i would say that if you look at investment flows in the private sector, you have to be much more relevant and significant compared to aid. in the case of nigeria, where we have a very viable and compelling economic story -- in any e event, we had made heartening with the private sector for developmement. this whole g 20 approach is ver

policy is toward involvement with the international monetary fund. what is the u.s. policy toward that and toward involvement in financial relief in the eurozone? >> so let me just say i've had the pleasure of meeting with christine, you know, at least a dozen times. i think the imf plays a very important role in looking at currency and world economies. the imf was very helpful in regards to stabilizing the greece situation and working with europe. i think that could have been a major problem this summer that would have had significant concerns to the markets and the economy. and i think she was a very important part of those negotiations. >> well, as my second question was, how do you feel about maintaining the u.s. level of support at the imf current level, and specifically as a part of the relief for greece? because the u.s. role is through the imf in relief of the greek financial crisis. >> yeah, well, let me just comment. the imf commitment to greece was quite small. i'm not even sure greece are necessarily going to use that. so i think the significance was real

something that the director of the international monetary fund and -- highlighted in frankfurt today.osed financial regulation modifications, which if generalized to the entire banking sector in a country like the united states, would be a cause for worry. reporter: she is talking about president trump's promise to repeal regulations drafted after the crisis of 2008. the fear is unleashing the banks once more could increase risks in the financial sector all over again. that could disrupt janet yellen's careful plan to keep the american economy on track. javier: let's get the latest on that from our new york financial correspondent jens korte. hi, good to see you. although a rate hike was no surprise, we did see some movement in the markets after was announced. jens: yes. initially nothing happened, but then when the press conference happened, things started to move here -- moved. technology shares were hurt a bit. their shares are pretty sensitive to monetary policy. the main statement from janet yellen, i believe, was that she tries to start bringing down the huge balance sheet. we h

the international monetary fund has not thrown it's support behind this recent installment, as he didehind the last two bailouts. debt needst greece's to be more sustainable affordable hand out funds. for the prime minister alexis tsipras, the deal still shows progress. >> we had a decisive step yesterday. it was a decisive step for the exit of the country from this long-term crisis, a clear signal of confidence given towards the markets, and at the same time, a clear commitment was given for the end of the program, the bailouts, in one year from now. that is what matters to the greek people, web suffered great sacrifices with patience and calm. france, president emmanuel macron met with european leaders to reaffirm the shared pro-european views ahead of a european summit next week. after a meeting with the dutch prime minister mark rutte , macron called on european authorities to do more to solve the problem of social dumping, where workers, to work in western european countries. my wish isacron: that we are able to build in the deepest sense a stricter agreement that will allow us t

. >>> the international monetary fund is cutting its qulout look for the u.s. economy. they cited broad uncertainty on fiscal policy, including the president's plan to cut taxes an increase infrastructure spending. the imf also said the downgrade was due to an ageing american growth b and a labor market back at full employment. >>> consumers grew more confident in june. according to the conference board, americans expect the economy to continue expand ng the coming month, but don't forsee the pace of growth accelerating. and in theory, the better people feel, the more they spend and consumer spending maybes up a large chunk of economic activity. >> well, the red hot housing market may be starting to cool a bit. a new report today shows prices are still climbing tom pair the gains appears to be slowing and that has many asking if the run up in prices is sustain bable. diana oleic takes a look. >> the latest gains on the s&p case-shiller home price index hit a new high, but were slightly smaller expected. the national index rose 5.5% down from 5.6% in march. these are pri

the government has cut subsidies in order to meet the terms of alone from the international monetary funds described the uk‘s new aircraft carrierjust a convenient, large, my time target. he was responding to criticism by the uk government of russia‘s aircraft carrier. in a few hours some of donald trump‘s travel ban will take effect. it will affect six muslim majority countries and it is happening now because on monday, as we reported, the us supreme court reinstated the ban, but it did so with a caveat. people will only be able to come in if they could prove able to come in if they could prove a credible claim of a real relationship. today we got more details on what that means. this is a quote from a cable sent out by the us state department. they do not include grandparents, grandchildren, uncles, aunts, nieces, nephews, cousins, fiancees and other extended family members. none of those relationships will qualify you. jane o‘brien has been telling me what kind of effect this will have on immigration from those six countries. the applications for visas are already down since donald tru

you have the creation of the international monetary fund, the world bank, money coming through the europeanf extreme generosity on bihar for the americans. we have the seeds being so for what eventually became the european union. the importance of each of these was that by creating rules internationally, trade connections, connections between people and movement, it meant in one sense that wealth and income could rise pretty swiftly. what's happened over the past income could rise pretty swiftly. what‘s happened over the past 10— income could rise pretty swiftly. what's happened over the past 10— 15 yea rs, partly what's happened over the past 10— 15 years, partly because of growth and the increasing income equality, there's a sense that these institutions have failed or the global has failed and there is a retreat into the supposed security of the nation state. in one sense there is a return to what we saw in there is a return to what we saw in the interwar period or at times during the 19th—century stock white retreat in the west but not the east. china is talking of retreat. i think beij

damages of the treaty of versailles, bretton woods comes along, you have the creation of the international monetary fundform of the marshall plan, a generous act by the us, you had the seeds being signed for what eventually became the european union. the importance of each of these that was by creating the rules of the game internationally, trade connections, connections and other people and their movement, and so on, it meant, in one sense, that wealth and income could rise pretty swiftly. but what has happened over the last ten or 15 years, partly because of the slow down growth and the increase in income equality, there is a sense that these institutions, in fact, all the global economy, has failed. it has raised questions about the security of the nationstate. in one sense, it has returned to what we saw in the interwar poor at period, or 19th century. a retreat in the west, but not a retreat in the east. i mean, china is not talking about retreat. china is absolutely... i think beijing is entirely happy about this, because it gives china an opportunity to create its own form of globalisation, which

late on thursday, after months of wrangling, european finance ministers, together with the international monetary funded to give athens its latest slice of bailout money. and there's a hint it could get some relief from its crippling debt mountain next year. let's show you the details. greece will finally get this — 8.5 billion euros, part of an 86 billion euro bailout plan agreed in 2015, the third it has had. it will come just in time, as greece faces 7.3 billion euros of debt repayments due next month. its total debt now stands at more than 337 billion euros. to put that in perspective, have a look at this. the red is greece's debt level over the past decade. the grey is its annual economic output or gross domestic product — everything of value that the country is producing. the debt is currently around 180% of gdp, one of the highest levels in the world. it has struggled to narrow the gap because round after round of austerity demanded by its lenders has steadily weakened its economy. that's why greece has been insisting on debt relief. in other words, writing a big chunk of it off, or at least de

let's take a look at some of the other stories making the news: the international monetary fund has cutsrowth forecasts for the us economy due to uncertainty about president trump's policies. the imf has cut this year's expectation from 2.3% to 2.1% and next year's from 2.5% to 2.1%. the imf said high employment rates made expansion hard and urged the us to maintain its commitment to free trade. more than a quarter of the world's population is now using facebook every month according to the social platform's founder mark zuckerberg. more than two billion people have now signed up to use it since he created the company 13 years ago. an ambitious plan to provide broadband links to every corner of the globe by satellite has begun in france. the aerospace giant airbus and its partner, one web, have started the production of a mega—satellite constellation to provide the service. $1.7 billion has already been raised to fund the network which will rely on an initial 600 satellites. this is a lovely one. a shop in tyneside... this is a lovely one. a shop in tyneside. .. that's in the north of en

on thursday — after months of wrangling — european finance ministers, together with the international monetary fundy agreed to give athens its latest slice of bailout money. and there's a hint it could get some relief from its crippling debt mountain next year. let's show you the details. greece will finally get this — 8.5 billion euros — part of an 86 billion euro bailout plan agreed in 2015. it is the third it has had. it will come just in time, as greece faces 7.3 billion euros of debt repayments, due next month, which it wouldn't have otherwise been able to afford. its total debt now stands at more than 337 billion euros. to put that in perspective, have a look at this. the red is greece's debt level over the past decade. the grey is the size of the economy, everything the country produces. the debt is currently some 180% of gdp one of the highest levels in the world, and a number athens has struggled to cut. that's why greece has been insisting on debt relief, which may now happen next year. imf boss christine lagarde says a write—off is the only way greece will ever get back on its feet, and

movement and to corporate brought us the guys the w t o against the war back against the international monetary fundand then it was then developed more recently in another way by this movements the so-called movements of the squares of two thousand and eleven the arab spring the spanish indignados going to these mania i was thinking the us i mean in a way you can see him as somebody surprising d. or e. jean of didi's a twenty year or longer more wave of unrest that is because we've seen that ward and which demonstrates how many people are not happy at all we did that he sees them as if he's going to do to globally because of the huge injustice and inequality it creates and central is the twenty eight western economic crisis the failure of failing banks the bankruptcies of the banks i feel it is the root cause of many of these figures are these not the only cause and also because the crises was just the moderation the moment of climax of a long standing problem but it was the moment where these injustices these chaos of the computer the system was more spectacularly revealed and steel we don't see a

their upcoming debt payment in july and euro area finance ministers in addition to the international monetary fund also committed to helping the country with long term relief. as we work of the ambitious policy package that was fully agreed between greece and institutions and the adoption of the agreed to prior actions for the second very few. the fiscal measures for the first program period that have been adopted address the underlying structural imbalances in greek public finances decisive steps have also been taken to reduce imperials and to operationalize the privatization investment fund the second part of the agreement regarding long term systems includes the possibility of extending repayments by fifteen years we could also see repayments connected directly to greece's growth in the future during a news conference greek finance minister euclid tsakalotos acknowledged greece had some had to make some sacrifices in order to reach the deal but he added that he now sees a quote light at the end of the tunnel we feel that after this euro group there is a much greater clarity on both for both the

despite this anticipated acceleration, that didn't stop the international monetary fund this week from doubt on the trump administration's ability to deliver tax cuts and spending on infrastructure that will boost the economy. in corporate news, us meal kit company blue apron is expected to make its debut on the new york stock exchange. and nike, the apparel maker, is due to report its fourth—quarter results. joining us is lawrence gosling, editor—in—chief of investment week. hello. the big talk at the moment seems to be about four central banks think the future holds. we have had all these warnings about increased interest rates and less quantitative easing. do you think this is going to be coming sooner rather than later7 to be coming sooner rather than later? a uk rate rise, i would say there is a reasonable chance of one before the end of this year, if you follow the tea leaves of the members of the mpc. there is definitely a split, and we saw mark carney saying one thing, slightly contradicted by whatjohn one thing, slightly contradicted by what john cunliffe one thing, slightly c

and the managing director of the international monetary fund says current organization is willing to go up to the next round of the bailout. she said the imf is prepared to give creditors more time to agree on debt relief measures. it will improve the payment of the bailout. the ecb's latest monetary policy decision due on thursday. the european central bank is expected to acknowledge the improving european growth outlook but it's not on interest rates. is this when it needs to be a little bit more hawkish? >> hawkish is maybe a little but much but i think less dovish. they remove their bias and balanced in the outlook and remove the language specifically. clearly survey data and pmi data and quite meaningly to the upside and not the down side but they'll be more balanced in the outlook and that will pave the way to the for them to by the end of the year announce it. >> it had a lot of people scratching their heads last monday when you saw mr. draghi being very dovish. an amount of support is still made for the eurozone. i don't see how he is going to make this turn from last week to

region gives proof to the value of such groups as the united nations, the world bank, the international monetary fund. they remind us that each of us have a vested interest in each security. that united states will continue to adapt and expand its ability to work with others, to secure a peaceful, preference, -- prosperous, and free asia. because we recognize that no nation is an island, we stand with our allies and of the international community to address pressing security challenges together. as countries make sovereign decisions free from coercion, the region will gain increased stability and security for the equal benefit of all nations. in our cooperative pursuit of that vision, we cannot ignore the challenges that you and i face. as vice president pence stated, the most urgent threat to security in the asian-pacific is north korea. their pursuit of nuclear weapons and the means to deliver them is not new, but the regime has increased the pace and scope of its efforts. while it has a long record of the murder of diplomats, kidnapping of innocents, killing of sailors, the nuclear weapons program

interests and values around the world for generations, giving rise to the world bank, the international monetary fund, the united nations, and the entire international system that we have today. 70 years ago, president truman had the vision to think longer term. he had the wisdom to see that what was good for others was often good for us as well. and he had the courage to ask our citizens to lead, to sacrifice, and to believe that even after the second war in a generation, it was still within their power to shape a lasting peace. those actions, those qualities are why truman's presidency marks one of the finest periods in american foreign policy. in the history of our foreign policy. and the comparison with what we're seeing today just couldn't be starker. mr. president, under the banner of putting america first, president trump has undermined our interests at nearly every turn. at a time when china proposes to spend over $1 trillion to expand its global influence with new railroads from hungary to kenya, new bridges and tunnels linking southeast asia together, new electrical plants to power pakistan