BREAKING Canada will cut its permanent immigration levels by at least 20 per cent
Canada will lower the number of permanent immigrants it allows into the country by at least 20 per cent from its previous target of 500,000, 愛污传媒 confirmed Wednesday.
The head of the International Monetary Fund said on Thursday it was "too early" to say if the world was facing a period of sustained inflation, but warned that failure to make economies more resilient to future shocks could lead to big problems.
IMF Managing Director Kristalina Georgieva told reporters that global policymakers need to carefully calibrate their fiscal and monetary policies in 2022 to ensure that widespread withdrawal of COVID-19 support funds and rising interest rates did not undermine the recovery.
The IMF last week cut its economic forecasts for the United States, China and the global economy, and said uncertainty about the pandemic, inflation, supply disruptions and U.S. monetary tightening posed further risks.
Unlike the first year of the pandemic in 2020, when finance ministers and central bankers coordinated and synchronized their actions, circumstances varied widely now across the world, and that required more "specificity" in responses, she said.
Georgieva said the COVID-19 pandemic remained the biggest risk facing the global economy, and it was imperative to step up efforts to increase vaccination rates in low-income countries, and meet a global target of vaccinating 70% of people in countries around the world by mid-2022.
The IMF chief said inflation had lasted longer and risen higher than expected, due to supply chain disruptions, stronger-than-expected consumer demand for goods, and climate shocks on food prices.
Asked if those circumstances, and the escalating crisis between Russia and the West over Ukraine, could usher in an era of sustained inflation, Georgieva said, "The short answer is, it is too early to say. What we can anticipate is a more shock-prone world."
She said efforts now to invest more in resilience of people, the economy and the environment would help create more opportunities for greater job growth and prosperity.
Failure to make such investments would result in a bleaker outlook, which would result in "more unexpected events for which we are not prepared," Georgieva said, adding that policymakers were also not well-prepared to deal with more than one crisis at a time.
(Reporting by Andrea Shalal; Editing by Aurora Ellis and David Gregorio)
Canada will lower the number of permanent immigrants it allows into the country by at least 20 per cent from its previous target of 500,000, 愛污传媒 confirmed Wednesday.
Prime Minister Justin Trudeau says the Liberal party is 'strong and united,' despite efforts from within his caucus to oust him as leader.
The Bank of Canada made a sizable cut to its key lending rate Wednesday from 4.25 per cent to 3.75 per cent as the global economy continues to expand. The half percentage point cut is the fourth rate cut in a row by the central bank as inflation dropped from 2.7 per cent in June to 1.6 per cent in September.
The president and CEO of New Brunswick-based Covered Bridge Potato Chips is taking an 'extended leave of absence' after being charged with domestic violence this past weekend.
A memorial is growing outside a Walmart in Halifax after a 19-year-old employee was found dead inside an oven in the store Saturday night.
A search has started at Prairie Green Landfill for the remains of two victims of a serial killer.
He is a familiar face to residents of a neighbourhood just west of Roncesvalles Avenue.
McDonald鈥檚 worked Wednesday to reassure customers that its U.S. restaurants are safe as federal investigators tried to pinpoint the cause of a deadly E. coli outbreak linked to the fast-food giant's Quarter Pounder hamburgers.
Turkiye鈥檚 air force struck Kurdish militant targets in Iraq and Syria on Wednesday in apparent retaliation for an attack at a key state-run defence company that killed five people and wounded more than a dozen others.
He is a familiar face to residents of a neighbourhood just west of Roncesvalles Avenue.
A meteor lit up our region's sky last night 鈥 with a large fireball shooting across the horizon over Lake Erie at around 7:00 p.m.
Residents of Ottawa's Rideauview neighbourhood say an aggressive wild turkey has become a problem.
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A Springfield, Ont. man is being hailed a 'hero' after running into his burning home to save his two infant children.
Hortense Anglin was the oldest graduate to make her way across the platform at York University's Fall Convocation ceremony this week. At the age of 87, she graduated with an Honours degree in Religious Studies.
Looking for a scare with good intentions this Halloween season? The ghosts and ghouls of Eganville, Ont. invite families to tour the Haunted Walk at Lekbor Manor.
The image of a sleepy Saskatchewan small town with 'not a lot going on' is a well-known anecdote. However, one Saskatchewan company is hoping to change that 鈥 and allow communities both on and off the beaten path to share their stories and advertise what they have to offer.