FT News Briefing IMF head issues warning, Russia’s Arctic trade route, Amlo’s progress
Mar 31, 2021
The head of the IMF warns of a looming debt crisis for emerging markets as the global economy attempts to bounce back from the pandemic. Meanwhile, Russia capitalizes on the Suez Canal incident to promote its Arctic shipping route. In Mexico, president Andrés Manuel López Obrador faces mixed public feedback but maintains significant trust ahead of midterm elections. The discussion also touches on the challenges of poverty and job losses, shedding light on the intricacies of global economic recovery.
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Emerging Market Debt Crisis Warning
- The IMF head warns of an emerging market debt crisis as the global economy recovers.
- Rising interest rates will draw capital from vulnerable countries, impacting hard-hit sectors like tourism.
Russia's Arctic Route
- Russia is promoting its Arctic shipping route as an alternative to the Suez Canal.
- They are investing in icebreakers and infrastructure, aiming for year-round use within 5-10 years.
AMLO's Popularity and Political Goals
- Mexican President AMLO maintains popularity despite criticism about his progress on ambitious goals.
- He aims to solidify control of Congress in midterm elections to gain a two-thirds majority for constitutional changes.