Developing economies will struggle to rebound solidly

2021 ◽  
Keyword(s):  
Developing Economies ◽  
The United States ◽  
Lower Income ◽  
Corporate Tax ◽  
Content Type ◽  
Special Drawing ◽  
Special Drawing Rights ◽  
Lower Income Countries ◽  
Global Growth ◽  
Economic Outlook

Significance Although the Fund upgraded its forecast for global growth this year to 6%, the recovery is becoming more uneven. Decisions were taken on global corporate tax, extended debt relief for developing states and a large disbursement of Special Drawing Rights (SDRs). Whether these measures are wide or deep enough to support lower-income countries is debatable. Impacts Led by the United States, support for corporate tax reform is rising, but benefits will not come soon enough for fiscally distressed states. The firm global recovery relies on China’s GDP gaining more than 8% and India’s more than 10%; India faces greater immediate downside risks. The economic outlook is brighter for developing nations with robust public finances and limited tourism reliance where COVID-19 is in check. COVAX delivery timings may be optimistic, and the WTO is unlikely to waive intellectual property rights to production capability transfers.

Hesitancy to share vaccine IP will increase inequality

2021 ◽  
Keyword(s):  
Intellectual Property ◽  
Low Income ◽  
Lower Income ◽  
Developing Nation ◽  
Content Type ◽  
Production Constraints ◽  
Special Drawing ◽  
The Uk ◽  
Special Drawing Rights ◽  
Lower Income Countries

Significance Although eight vaccines have been developed and approved for use against COVID-19, production constraints leave many lower-income countries facing a lengthy wait. They are backing an initiative to waive intellectual property (IP) rights on treatments to facilitate transfers of vaccine manufacturing capability. Impacts Low-income nations may opt to issue compulsory licences, allowing governments to waive IP rights without the licence owners’ consent. The IMF backed a USD650bn round of special drawing rights at the spring meeting, in part to help vaccinate developing nation populations. A YouGov poll recently found that 74% of the UK public think governments should ensure vaccine expertise is shared globally.

Russian arms sales challenged by rivals and sanctions

2021 ◽  
Keyword(s):  
North Africa ◽  
Import Substitution ◽  
The United States ◽  
Political Support ◽  
Lower Income ◽  
Arms Sales ◽  
Content Type ◽  
China And India ◽  
The Military ◽  
Lower Income Countries

Significance Selling mainly to non-US allies in Asia and North Africa, Russia has been the world's second-largest arms exporter after the United States for the last decade. The 2020 dip seems attributable to COVID-19 disruption having slowed deliveries to China and India. US sanctions might also have had some effect. Impacts The path of global recovery will influence Russian arms sales: lower-income countries are in a worse position than rich ones. New sales to Myanmar will signal Moscow's political support for the military junta. Import substitution efforts to mitigate Western sanctions are still slow and may lead to shortages that impede production and exports.

The G7 is edging closer to a new round of SDRs

2021 ◽  
Keyword(s):  
Yield Curve ◽  
Developing Economies ◽  
Emerging Market ◽  
Developing Nations ◽  
International Reserves ◽  
Content Type ◽  
Us Congress ◽  
Special Drawing ◽  
The Us ◽  
Special Drawing Rights

Significance The COVID-19 crisis has exposed the disparity in fiscal and monetary firepower between developed and developing economies. Within the G7, support is growing for a new allocation of IMF special drawing rights (SDRs) -- international reserves that can be swapped for hard currency -- now that the US leadership is better disposed to multilateral action. Impacts The US Congress must approve an SDR round over USD685bn; a smaller issue is likely as many Republicans oppose financing Iran and China. The G20’s moratorium on developing nations debt servicing payments is set to be extended beyond June, but vast payment gaps still remain. The rising US yield curve and dollar rally will pressure emerging market borrowers by raising their dollar-denominated debt repayments.

Sri Lanka will try to manage debt without IMF help

2021 ◽  
Keyword(s):  
Sri Lanka ◽  
Foreign Exchange ◽  
Debt Crisis ◽  
Content Type ◽  
Special Drawing ◽  
External Stakeholders ◽  
Capital Outflows ◽  
The Government ◽  
Special Drawing Rights ◽  
India And China

Significance The government nevertheless remains under pressure from domestic critics and external stakeholders because of dwindling foreign exchange (forex) reserves and a growing debt crisis. Sri Lanka approached the IMF in early 2020 for macroeconomic support under the Fund’s Rapid Financing Instrument, but negotiations were shelved. Impacts The government will face increasing domestic pushback over its efforts to curb capital outflows. Although India and China will remain Sri Lanka’s most important partners, ties with Bangladesh will grow markedly. Sri Lanka should be able to access an allocation of IMF special drawing rights later this month.

Sensory system integration of the designed mechatronics Touch Hand

Sensor Review ◽  
2016 ◽  
Vol 36 (2) ◽  
pp. 158-168 ◽  
Author(s):  
Drew van der Riet ◽  
Riaan Stopforth ◽  
Glen Bright ◽  
Olaf Diegel
Keyword(s):  
Haptic Feedback ◽  
Low Cost ◽  
Pressure Sensors ◽  
Sensory System ◽  
Prosthetic Hand ◽  
Prototype System ◽  
Lower Income ◽  
Content Type ◽  
Prosthetic Hands ◽  
Lower Income Countries

Purpose This paper aims to explore the electronic design of the Touch Hand: a low-cost electrically powered prosthetic hand. The hand is equipped with an array of sensors allowing for position control and haptic sensation. Pressure sensors are used on the fingertips to detect grip force. A temperature sensor placed in the fingertip is used to measure the contact temperature of objects. Investigations are made into the use of cantilever vibration sensors to detect surface texture and object slippage. The hand is capable of performing a lateral grip of 3.7 N, a power grip of 19.5 N and to passively hold a weight of up to 8 kg with a hook grip. The hand is also tested on an amputee and used to perform basic tasks. The amputee took 30 min to learn how to operate the hands basic gripping functions. Design/methodology/approach Problems of previous prosthetic hands were investigated, followed by ways to improve or have similar capabilities, yet keeping in mind to reduce the price. The hand was then designed, simulated, developed and then tested. The hand was then displayed to public and tested with an amputee. Findings The Touch Hand’s capabilities with the usage of the low-cost materials, components and sensory system was obtained in the tests that were conducted. The results are shown in this paper to identify the appropriateness of the sensors for a usage while the costs are reduced. Furthermore, models were developed from the results obtained to take into account factors such as the non-slip material. Research limitations/implications The research was restricted to a US$1,000 budget to allow the availability of a low-cost prosthetic hand. Practical implications The Touch Hand had to have the ability to supply the amputee with haptic feedback while allowing the basic grasping of objects. The commercial value is the availability of an affordable prosthetic hand that can be used by amputees in Africa and other Lower-Income countries, yet allowing a more advanced control system compared to the pure mechanical systems currently available. Social implications The Touch Hand has the ability to give amputees affected in war situations the ability to grasp objects in a more affordable manner compared to the current available options. Feedback from amputees about the current features of the Touch Hand was very positive and it proves to be a way to improve society in Lower-Income countries in the near future. A sponsorship program is being developed to assist amputees with the costs of the Touch Hand. Originality/value The contributions of this research is a low-cost prototype system than can be commercialized to allow amputees in the Lower-Income countries to have the ability of a prosthetic hand. A sensory system in the hand is also explained which other low-cost prosthetic hands do not have, which includes temperature, force and vibration. Models of the sensors used that are developed and calibrated to the design of the hand are also described.

Global growth and market prospects may improve in 2016

2016 ◽  
Keyword(s):  
Commodity Prices ◽  
Equity Markets ◽  
Commodity Price ◽  
The United States ◽  
Real Economy ◽  
Content Type ◽  
Positive Effects ◽  
New Energy ◽  
Growth Prospects ◽  
Global Growth

Subject Correlation between oil prices, equity markets and global growth. Significance Weak global growth and volatile equity markets in early 2016 illustrate how the real economy and distressed investors are struggling with rapid changes in such key parameters as the new energy and commodity price regime. This is because the 'losers' have to react quickly, plunging economies into recession before the 'gainers' generate any positive effects. These asymmetries, along with disappointing data, are spooking stock markets into a broad-based sell-off. After a nearly 10% fall in global equities between end-December and mid-February wiped as much as 6-7 trillion dollars off wealth, markets have rallied, especially in the United States, where key indices have recouped losses to trade at levels last seen at end-2015. Impacts A recovery in global growth prospects could emerge by mid-2016, stabilising commodity prices and underpinning gains in equity markets. Distressed sales of assets should abate and have less influence on markets. Easing fears over China will help markets rebound after the panic attack in early 2016. The consumer benefits of low energy and food costs have disappointed, but there could be higher spending throughout 2016.

Brazil government coalition risks unraveling

2015 ◽  
Keyword(s):  
United States ◽  
The United States ◽  
Short Term ◽  
Content Type ◽  
Political Coalition ◽  
The Future ◽  
Spending Cuts ◽  
Government Coalition ◽  
Economic Outlook

Significance On her return from the United States and Russia, President Dilma Rousseff's problems have not changed; indeed, most worsened during her absence. Brazil's economic outlook is bleaker, the governing political coalition weaker and the scope of the corruption scandal has widened. Impacts Congress will push back more strongly against spending cuts as the government's situation weakens. The PMDB as a whole is unlikely to follow Cunha's lead, at least in the short term. Lula's fate will have major longer-term implications for the future of the PT.

Subdued inflation attenuates bond market strains

2018 ◽  
Keyword(s):  
The United States ◽  
Bond Markets ◽  
Equity Fund ◽  
Treasury Bonds ◽  
Content Type ◽  
Asset Bubbles ◽  
The United Kingdom ◽  
The Us ◽  
Us Presidential Election ◽  
Global Growth

Subject Bond markets outlook. Significance Eurostat today reported that the euro-area economy grew by 0.6% quarter-on-quarter in October-December 2017, and by 2.6% in the whole of 2017, outpacing growth of 2.3% in the United States and 1.8% in the United Kingdom. The yield on benchmark 10-year US Treasury bonds has surpassed the level it reached after Donald Trump’s US presidential election victory when investors positioned themselves for higher growth and prices. The tax bill and modestly rising prices have reinvigorated the ‘trumpflation trade’ of investors shifting from bonds to equities. Signs that the ECB may start withdrawing monetary stimulus faster than expected, coupled with robust global GDP growth, are putting further upward pressure on global yields. Impacts The US treasury secretary’s Davos remarks that a weaker dollar helps US activity could fuel further euro strength, challenging ECB policy. This month’s IMF update upgraded its global growth forecasts but warned of risks, especially asset bubbles and financial vulnerabilities. Global equity fund inflows are surging, fuelling dangerous overvaluations in certain sectors including technology.

The “Sanctions” of the International Monetary Fund

1972 ◽  
Vol 66 (4) ◽  
pp. 737-762 ◽  
Author(s):  
Joseph Gold
Keyword(s):  
International Monetary Fund ◽  
International Monetary System ◽  
The United States ◽  
Legal Structure ◽  
Monetary System ◽  
Special Drawing ◽  
Third Stage ◽  
Special Drawing Rights ◽  
Two Stages ◽  
The International Monetary Fund

Recent events in the international monetary system culminating in the decision of the United States, announced on August 15, 1971, to suspend the convertibility of the dollar induce the international lawyer to ask once again what contribution sanctions can make to respect for international law and the effectiveness of multilateral treaties. This question has been a practical problem at two stages in the development of the International Monetary Fund. It arose first during the negotiation and drafting of the original Articles of Agreement which were adopted at the Bretton Woods Conference in July 1944. The second stage was the negotiation and drafting of the amendment of July 28, 1969, which dealt mainly with the legal structure of special drawing rights as a supplement to existing reserve assets. It is now apparent that there will be a third stage, in which a reform of the international monetary system, perhaps in some of its most fundamental aspects, will lead to a further amendment of the Fund's charter.

scholarly journals Regional Economic Outlook, October 2019, Western Hemisphere Department

2019 ◽  
Author(s):  
Keyword(s):  
United States ◽  
Global Economy ◽  
Developing Economies ◽  
Negative Impact ◽  
Regional Growth ◽  
Commodity Prices ◽  
The United States ◽  
Western Hemisphere ◽  
Trading Partners ◽  
Global Growth

The global economy has slowed, with important consequences for growth prospects in Latin America and the Caribbean. The slowdown in economic activity has been broad-based among advanced economies and more pronounced in emerging markets and developing economies, partly reflecting trade and geopolitical tensions. Global growth is projected to decline to the lowest level since the global financial crises, before recovering in 2020. More importantly, growth is projected to decline in 2019–20 in the United States and China, which are LAC’s two main trading partners. The ongoing sluggishness of global growth and trade is affecting export growth in LAC, posing significant headwinds to the outlook. External demand for the region remains subdued, with trading partner growth (including China, Europe, other LAC countries, and the United States) projected to decline in 2019, before recovering modestly over the medium term. Moreover, commodity prices (notably energy and metals), key drivers of growth in LAC in the past, are projected to decline with a likely modest negative impact on regional growth going forward.

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