https://noqreport.com/2022/10/15/economists-warn-imf-world-bank-may-have-little-space-to-maneuver-as-they-lend-record-amounts-to-poorest-countries/

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The International Monetary Fund (IMF) and the World Bank have lent a record amount of money to the world’s poorest countries to help them cope with the pandemic, food inflation and the repercussions of the war in Ukraine.

Now, economists are sounding the alarm over concerns that the world’s biggest lenders are stretching themselves too thin in trying to bail out emerging market economies. This, they said, leaves the two institutions with little space to maneuver should future crises arrive. In line with this, government officials around the world were asked to ensure sufficient capacity for future emergency responses.

The IMF has already committed $258 billion to 93 countries since the onset of the pandemic, with another $90 billion to 16 countries since Russia’s invasion of Ukraine. Not all committed funds have been lent out yet, with the IMF recording $135 billion of outstanding loans, up 45 percent from 2019 and more than double the amount in 2017.

Former IMF Chief Economist Kenneth Rogoff said that while there is no big emerging-market crisis and banks have the capacity at the moment, they would be “very stretched” if countries head into more turbulent waters.

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“If China were to come to the IMF needing a program, or the U.K. or some large country, suddenly, they’d be cash-strapped,” he said.

The World Bank, on the other hand, has increased its lending by 53 percent since 2019 to a record $104 billion in September.

Economists want the two banks to tighten their pockets as the possibility of a global recession will result in many countries having bouts of payment problems. A former World Bank official said the institutions need to go back to their original function, which is to be lenders of last resort.

Demands on both institutions could mount. Higher energy and food prices caused by Russia’s invasion of Ukraine have driven up costs and limited food supply in developing countries. Moreover, the Federal Reserve’s rapid interest rate increases have raised the costs of those borrowed in dollars, forcing many emerging market central banks to raise their own interest rates to limit currency depreciation and higher import prices.

Emerging markets worry about weakening currencies

Central bankers from emerging markets also said they worried that continued interest rate increases from the Fed will weaken their currencies and make them less attractive for investment.

At an event sponsored by the Institute of International Finance, Bank of Mexico Deputy Governor Irene Espinosa Cantellano said: “A lot of capital has gone to reserve currencies, and this is just the tip of the iceberg in terms of what might happen if there is a need to tighten [policy] even more rapidly.”

Meanwhile, Hungarian Central Bank Deputy Governor Barnabás Virág said policymakers have raised the base interest rate to 13 percent in an attempt to prop up the currency. This is well above the Fed’s previous policy rate of between three to 3.25 percent.

“All of us would like to know what will be the Fed reaction in the coming months because the strength of the dollar keeps the pressure on our currencies,” he added.


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Emerging markets are now struggling to borrow from private lenders as their governments issue $88 billion of debt through Sept. 30 this year, which is just over half the level in the equivalent period last year and the smallest since 2015. Companies that are unable to roll over foreign debts are also at risk of bankruptcy.

More than 60 percent of low-income countries, defined as roughly 70 nations that qualified for global debt-payment suspension, are now in distress or at risk of distress as they are unable to meet their financial obligations. This is roughly double the 2015 levels, as per IMF.

“This raises the risk of a widening debt crisis in these countries – harming their people, as well as global growth and financial stability,” IMF Managing Director Kristalina Georgieva said. (Related: A GLIMPSE OF THE NEAR FUTURE: Global collapse may follow pattern of Sri Lanka economic crisis.)

This year, the world’s 73 poorest nations owe $44 billion in debt service fees to bilateral and private lenders, which is more than the amount they receive in foreign aid.

“Debt service is taking away from the resources they would have for health, education, social protection, for climate, and importantly, for growth,” said World Bank President David Malpass.

Visit GovernmentDebt.news to learn more about the problems poor economies face amid a looming global recession.

Watch Gregory Mannarino explain how the global financial system is falling apart.

This video is from the What is happening channel on Brighteon.com.

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Sources include:

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Will America-First News Outlets Make it to 2023?

Things are looking grim for conservative and populist news sites.

There’s something happening behind the scenes at several popular conservative news outlets. 2021 was bad, but 2022 is proving to be disastrous for news sites that aren’t “playing ball” with the corporate media narrative. It’s being said that advertisers are cracking down, forcing some of the biggest ad networks like Google and Yahoo to pull their inventory from conservative outlets. This has had two major effects. First, it has cooled most conservative outlets from discussing “taboo” topics like Pandemic Panic Theater, voter fraud, or The Great Reset. Second, it has isolated those ad networks that aren’t playing ball.

Certain topics are anathema for most ad networks. Speaking out against vaccines or vaccine mandates is a certain path to being demonetized. Highlighting voter fraud in the 2020 and future elections is another instant advertising death penalty. Throw in truthful stories about climate change hysteria, Critical Race Theory, and the border crisis and it’s easy to understand how difficult it is for America-First news outlets to spread the facts, share conservative opinions, and still pay the bills.

Without naming names, I have been told of several news outlets who have been forced to either consolidate with larger organizations or who have backed down on covering certain topics out of fear of being “canceled” by the ad networks. I get it. This is a business for many of us and it’s not very profitable. Those of us who do this for a living are often barely squeaking by, so loss of additional revenue can often mean being forced to make cuts. That means not being able to cover the topics properly. Its a Catch-22: Tell the truth and lose the money necessary to keep telling the truth, or avoid the truth and make enough money to survive. Those who have chosen survival simply aren’t able to spread the truth properly.

We will never avoid the truth. The Lord will provide if it is His will. Our job is simply to share the facts, spread the Gospel, and educate as many Americans as possible while exposing the forces of evil.

To those who have the means, we ask that you please donate. We have options available now, but there is no telling when those options will cancel us. We have our GivingFuel page. There have been many who have been canceled by PayPal, but for now it’s still an option. Your generosity is what keeps these sites running and allows us to get the truth to the masses. We’ve had great success in growing but we know we can do more with your assistance.

Thank you, and God Bless!

JD Rucker


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