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imf

IMF Warns War in the Middle East Could Derail Global Growth

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The ongoing conflict in the Middle East is threatening to undo years of fragile economic recovery, the International Monetary Fund said Tuesday, warning that rising energy costs and supply disruptions could ripple across the global economy.

The fund’s latest projections show a clear shift from a relatively stable growth path to one now clouded by uncertainty. After weathering the pandemic, inflation shocks and the war in Ukraine without tipping into recession, the global economy is once again facing serious risks.

“The global outlook has abruptly darkened following the outbreak of war in the Middle East,” Pierre-Olivier Gourinchas, the IMF’s chief economist, wrote.

“The war interrupted what had been a steady growth trajectory. Prior to the war, we were poised to upgrade our global growth forecast, reflecting continued momentum in the global economy supported by a tech investment boom, some moderation in trade policy tensions, fiscal support in some countries, and accommodating financial conditions. War in the Middle East will overwhelm these underlying forces.”

Even in a best-case scenario, where the conflict is contained and short-lived, the IMF. expects noticeable damage. Global growth is now projected at 3.1 percent this year, down from both last year’s pace and earlier forecasts made before the fighting disrupted oil shipments through the Strait of Hormuz.

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The timing of the warning is significant. Officials from around the world have gathered in Washington for the spring meetings of the IMF. and the World Bank, where the agenda has quickly shifted. Topics like artificial intelligence and trade tensions have taken a back seat to the economic consequences of war.

So far, markets have reacted most sharply in energy. Oil has surged past $100 a barrel, natural gas prices have jumped more than 80 percent and fertilizer costs are climbing, a combination that could squeeze both consumers and farmers.

Those price increases are expected to spread through the broader economy, pushing up the cost of goods like steel and cement while reducing household purchasing power. Central banks, the IMF. warned, may be forced to respond by keeping interest rates higher for longer.

“Under our severe scenario—assuming dislocations in energy markets that extend to next year, together with a de-anchoring of inflation expectations and a tightening of financial conditions, the global economy would come close to experiencing a recession, with growth around 2 percent this year and next and global headline inflation near 6 percent. Clearly, the downside risks are tremendous.”

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The effects will not be evenly distributed. Lower-income countries and developing economies are expected to feel the greatest strain, particularly those already vulnerable to food and energy price swings. Some oil-exporting countries in the Persian Gulf may also face direct damage to infrastructure and exports.

Wealthier economies may be more resilient, but they are not immune. The IMF. now forecasts U.S. growth at 2.3 percent in 2026, an improvement over the previous year, but still weaker than earlier expectations. The White House, by comparison, has projected 3.5 percent growth.

For American consumers, the impact is already visible at the pump. Gas prices have climbed to a national average of $4.11 per gallon.

Russia, meanwhile, appears to be benefiting from the turmoil. Higher oil prices and a temporary easing of U.S. sanctions on some of its exports have improved its outlook, with growth expected to edge up slightly in 2026.

Amid these developments, U.S. Treasury Secretary Scott Bessent used the IMF-World Bank meetings to push for a different focus. Speaking at an event alongside the gatherings, he urged the institutions to prioritize their core responsibilities and address long-standing global imbalances.

“This slow-motion buildup of global imbalances after a lack of sustainable growth is the biggest risk,” Mr. Bessent said. “The world cannot take a China with a trillion-dollar trade surplus.”

He did not, however, directly address the war itself, even as it reshapes the economic outlook that the meetings were meant to assess.

real estate

International Luxury Real Estate Icon, Sarkie Ampim, Gives His Audience A Look Into The Industry 

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Sarkie Ampim is a well known figure in the international luxury real estate industry. Besides his influence throughout the market itself, he also has amassed a worldwide audience of over 100,000 followers between TikTok and Instagram. He utilizes his online presence to give individuals a true look into the life of a realtor serving luxury clients in places like London, the US, and West Africa. 

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Ampim recently spoke to USA Today about his specific approach to different markets around the world and how he utilizes social media to let his followers know about the inner workings of the multitude of real estate markets he works in. 

“You have to understand culture without losing local nuance. Trust looks different in every market. The way you earn it differs, but integrity is universal.”

To navigate the many markets and wide range of clientele Ampim works with, he knows that specificity is key. He stated that trying to deliver a universal message and technique as an agent will end up backfiring, because every client is different and has varying needs. 

Ampim prides himself in his ability to create personalized plans and strategies for every client, making him an authentic figure in real estate. 

Through Coldwell Banker Warburg, Ampim works on high-profile commercial properties, exclusive developments with first-time buyers, seasoned investors, and high-net-worth clients, according to USA Today. 

Sarkie is originally from Ghana and was raised in both England and the US. Initially, his career began in Brooklyn, NY as a Commercial Real Estate Agent. He quickly developed skills and techniques in property transactions and the market, solidifying a long lasting client base.

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“Real estate moves quickly in New York, and Ghana is catching up fast. Both markets are full of energy, culture, and opportunity. You just have to know how to navigate them.”

“I’ve always been fascinated by the way people live, how culture, design, and opportunity connect,” he said.

Sarkie moved into finance at Belstar Capital where he focused on project finance for infrastructure development in emerging markets. He then was able to gain global fluency in urban growth.

However, Sarkie always craved the world of real estate, so he eventually went back full-time to work at the boutique firm Batra Group, where he became very well known for his work as a Commercial and Residential Agent. 

“It’s about honoring where people come from and where they want to go next. I see myself as a bridge.”

“I’m passionate about bridging the gap between the U.S. and Ghana,” Sarkie Ampim says when discussing looking towards the future.

“There’s so much opportunity, and it’s filled with culture. Real estate is one of the most powerful ways to connect the diaspora.”

nfl

NFL Commissioner Says Super Bowl Could Take Place Outside US In The Future 

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NFL commissioner Roger Goodell stated this past week that the Super Bowl could be held outside of the United Stated as a part of the NFL’s international growth plan. The announcement was surprising to some fans as Goodell had refused the idea in the past. 

“We’ve always traditionally tried to play a Super Bowl in an NFL city – that was always sort of a reward for the cities that have NFL franchises,” he said at a fan forum in London. 

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“But things change. It wouldn’t surprise me at all if that happens one day.”

Goodell also outlined a plan that would potentially include playing 16 games internationally every year if the regular seasons expand to 18 games. 

He stated that there was “no doubt” that Ireland would host a game as well as Rio de Janeiro. The Jacksonville Jaguars are also considering playing more games in London while their home stadium undergoes renovations. 

This season’s Super Bowl will occur in New Orleans, in 2026 it will be hosted at Levi’s Stadium in Santa Clara, California, and in 2027 at the SoFi Stadium in Inglewood, California. 

“If we do expand our season – our regular season – to an 18-and-two structure, I see us going to 16 of those games being in international markets,” Goodell said.

“A lot of that depends on – can we continue to make the game safer, can we continue to modify the way we conduct the offseason as well as the training camp and as well as the season, so that these guys feel comfortable being able to play that period of time,” Goodell said.

For this season there are five international games, and Goodell stated that the league wants to increase that number to eight, with Dublin as the next likely host. .

“I have no doubt that we’re going to be playing in Ireland. I don’t know if it will be next year, but it’s coming soon,” Goodell said.

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“We’re looking at other markets in the other direction, toward Asia. There’s probably more interest than we can handle.”

Goodell expects “some offseason tweaks to the new kickoff rules but on the whole, it’s working. The new rules have made kickoffs relevant again, and the early data on injuries is promising. Just over 30% of kickoffs have been returned this season compared with 20% last season.”

“With that increase in returns, it’s giving us more data to determine whether we can do it more safely. It actually is incredibly promising. We’re seeing lower impacts that have led to less severe injuries and less number of injuries. So, I think it’s working,” Goodell said.

“On average, kickoffs drives are starting just past the 29-yard line, compared with just past the 24 previously,” he said.

“I think what we’ll see ultimately is a change in the offseason,” Goodell said. 

“Once we know it’s a safer play, it will encourage more kickoffs. That could happen in a couple of ways. You could move the kickoff line back, so that they can’t kick it out as easily. You could also say the penalty for kicking it out is going to go to the 35 instead of where we’re at, the 30.”

dollar

The International Value Of The US Dollar Is Making Travel Cheaper For Americans

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The US dollar has been moving upwards in value when compared to international currency, such as the Euro and British pound, which are typically much stronger than the US dollar, making travel much cheaper for Americans.

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Movies

‘Jurassic World Dominion’ Receives $245 Million At International Box Office 

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Universal’s “Jurassic” franchise is once again proving why it’s become one of the most popular series since the 1990’s. “Jurassic World Dominion,” the sixth installment in the long-running series, received $176 million from 72 international markets over the weekend, bringing its international total to $245 million. 

When combined with its domestic earnings of $142 million, the film currently stands with $389 million and is likely to cross the $400 million threshold soon. 

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“Dominion” opened in 57 foreign markets this past weekend, including China, which has been increasingly hostile when it comes to showing Hollywood films. The movie received $52 million in China during its opening weekend. 

China has chosen to import a very select amount of movies since the beginning of the pandemic, so “Dominion” is already set to be the biggest non-local release in 2022. 

“Other top-grossing territories include the U.K. and Ireland with $15.4 million, France with $9.7 million, Australia with $8.5 million and Germany with $7.5 million,” according to Variety.

“Dominion” had a production budget of $185 million, and a promotion budget of $100 million. 

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Another movie that’s continuing the legacy of its original cinematic predecessor is “Top Gun: Maverick,” which earned itself nearly $747 million in international box office sales, passing the original “Top Gun’s” sales of $700 million. 

Within its third weekend of release, the blockbuster starring Tom Cruise earned itself $52.7 million from 64 international markets. According to Variety, “‘Maverick’ has raked up the most tickets in the U.K. ($63 million so far), followed by Japan ($33.9 million), Australia ($32.6 million) and France ($28.7 million).”

Worldwide box office revenue has been on a high as of late. Disney’s “Doctor Strange in the Multiverse of Madness” earned itself $930 million in global ticket sales after last weekend, making it the highest grossing movie of the year.

This is an especially impressive feat as both China and Russia have decided not to show the newest Marvel movie and they account for a large portion of the international box office numbers.

Russia Requesting Military And Economic Aid From China, According To US Officials

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According to US officials, Russia has asked China for military and economic assistance, including drones, as a part of their unprovoked invasion of Ukraine. The official’s declined to state what exactly China’s response was to the request, but it is known that they did respond.

The news of the request was brought up to White House national security adviser Jake Sullivan during a conversation with his Chinese counterpart, Yang Jiechi. Sullivan explained to the media afterwards that providing Russia with support from China would be a “concern.”  

“We also are watching closely to see the extent to which China actually does provide any form of support, material support or economic support, to Russia. It is a concern of ours. And we have communicated to Beijing that we will not stand by and allow any country to compensate Russia for its losses from the economic sanctions,” Sullivan said.

Russia continued its attack to western Ukraine this weekend, firing off missiles near the city of Lviv, and hitting a large military base close to the Polish border. The blasts reportedly killed dozens of people. 

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China claims that it was not asked by Russia for military aid or any other type of assistance. Liu Pengyu, spokesperson for the Chinese embassy in the US, said in a statement, “I’ve never heard of that. The Ukraine situation is indeed disconcerting, China has and will continue to provide humanitarian assistance to Ukraine.

“The high priority now is to prevent the tense situation from escalating or even getting out of control. … China calls for exercising utmost restraint and preventing a massive humanitarian crisis.”

Beijing is currently trying to strike a neutral tone regarding the international conflict. Chinese domestic media coverage has, however, promoted Russian disinformation campaigns and described the war as a “special military operation. 

White House press secretary Jen Psaki and other US officials have been critical of Beijing’s response overall. 

“Beijing has seemingly endorsed false Russian claims that the US is developing chemical weapons in Ukraine.”

“Our assessment right now is that China is abiding by the requirements that have been put in place, but we would continue to encourage any country to think a lot about what place they want to — what role they want to play — in history as we all look back,” Psaki said Wednesday.

Sullivan said that the “US has made it clear to Beijing that there will absolutely be consequences for large-scale efforts to give the Kremlin a workaround to US sanctions.”

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“We will not allow that to go forward and allow there to be a lifeline to Russia from these economic sanctions from any country anywhere in the world. While the US believes China, in fact, was aware before the invasion took place that Vladimir Putin was planning something, they may not have understood the full extent of it. Because it’s very possible that Putin lied to them the same way that he lied to Europeans and others,” Sullivan explained. 

Sullivan also expressed to the media this weekend that while the “Biden administration is concerned about the possibility of escalation with respect to Putin’s nuclear posture, we have not seen anything that would require us to change our nuclear posture at this time.” 

“We are watching this extremely closely, and obviously, the escalation risk with a nuclear power is severe, and it is a different kind of conflict than other conflicts the American people have seen over the years,” he said, before explaining the administration’s decision to reject Poland’s offer to transfer fighter jets to Ukraine through the US and German air base. 

“The President listened to the assessment of his intelligence community, he listened to the advice of his military commanders, he consulted his NATO allies, and he ultimately determined that the risk-benefit analysis of flying planes from NATO bases into contested airspace over Ukraine did not make sense, was not something that he would authorize.

The US is focused on providing other anti-air systems that could help the Ukrainians make progress in terms of dealing with the threat that is coming from the air from the Russian side,” Sullivan explained.

The national security adviser also reiterated that Russia “would pay a severe price if they chose to use chemical or biological weapons in Ukraine. Russia’s accusations against Ukraine preparing to deploy chemical weapons is a tell, a tell that they themselves may be preparing to do so and then trying to pin the blame on someone else– that’s a classic page out of the Russian playbook.”

Canadians Warned To Avoid Nonessential International Travel Amid Omicron

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Canada issues a travel advisory this week, asking its citizens to avoid all nonessential international travel as the Omicron variant continues to spread around the world. 

“We see the situation abroad, and we’re afraid and concerned with what could happen to Canadians who would choose to go abroad in the next few weeks.”

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“The situation abroad is already dire in many places, and it’s going to get worse very quickly. So we are afraid for what could happen to them if they chose to travel. And once they have left Canada, there is very little we can do to help them,” said Jean-Yves Duclos, Canada’s health minister.

Canadian government officials also warned that other restrictions will likely be announced in the coming days/weeks to better protect their citizens from infection. 

The US-Canada border is still open, and those who are travelling by land between the two nations don’t need to provide a negative Covid-19 test as long as their trip is less than 72 hours and they’re vaccinated. 

Canada is also allowing foreigners to enter the country for business and leisure, as long as they’re vaccinated and provide a negative Covid-19 test upon entry. 

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The current travel advisory is set to last for at least four weeks, and Canadian officials said that imposing stricter measures in the coming days is still a likely option.

“We are constantly reassessing so when we feel we need to change our policies, we will announce it as quickly as possible, but for now, we are monitoring it and assessing it,” said Transport Minister Omar Alghabra during the news conference.

Despite high levels of vaccination in Canada, public health officials are still worried as Canadians remain vulnerable to the Omicron variant, and are preparing for an increase in cases within the coming weeks. 

“I know the rising threat Omicron poses is not something any of us want to be dealing with, especially now just before the holidays. I know we are all tired, we are all tired of Covid. But I think we all also understand that after 21 months of fighting this virus and doing a pretty good job as a country, that making hard decisions quickly and behaving carefully pays off,” said Deputy Prime Minister Chrystia Freeland when announcing the travel advisory.

 United Nations Health Expert Condemns US Over Threat To Abortion Rights 

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Special rapporteur for the United Nations, Dr. Tlaleng Mofokeng, is calling on the US Supreme Court to uphold the right to abortion in America. Dr. Mofokeng is arguing that the US is risking undermining international human rights laws and are indirectly threatening the right to a safe abortion for other countries around the world. 

Dr. Mofokeng is one of many global observers whose main job is to travel the world and defend human rights. She argues in a brief filed in a US court that by overturning abortion rights, the nation would be violating international human rights treates that were ratified by the US; including the convention against torture, and forcing a woman to carry their pregnancy to term, regardless of the personal risk for the mother and child. 

In an interview, Mofokeng told the media she could have “filed a brief on abortion rights, in any other court, in any other abortion case, globally. However, the US courts are dealing with the direct threat posed to abortion rights in the supreme court’s upcoming session.

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“We have this joke among us that when the US sneezes the rest of the world catches a cold. So we know that politically that what happens in the United States… does have an impact in precedents elsewhere in the world.”

Roe vs Wade is the famous 1973 court case that gave Americans the constitutional right to an abortion in privacy. At the time, the case invalidated numerous state abortion bans and restrictions, and allowed individuals to terminate a pregnancy up to the point where the fetus can survive outside the womb; around 24 weeks. 

“If that gets overturned, it has catastrophic implications, not just for the US. I fear overturning Roe would embolden global attacks on reproductive rights.”

Mofokeng’s  most recent UN report outlined “the challenges Covid-19 posed to reproductive rights, and how colonialism continues to impact global policies on reproduction, from sterilization to abortion bans.”

“It means that even those people who are conservative, who are anti-rights, in any country in the world, will actually now start referencing the US court as an example of jurisprudence that should be followed, and this is why this is so dangerous.”

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“If Roe … [were] overturned, many US states will implement bans or near-bans on abortion access that will make individual state laws irreconcilable with international human rights law. This would cause irreparable harm to women and girls in violation of the United States’ obligations under the human rights treaties it has signed and ratified,” Mofokeng’s brief argued.

“The denial of safe abortions and subjecting women and girls to humiliating and judgmental attitudes in such contexts of extreme vulnerability and where timely health care is essential amount to torture or ill treatment.”

In one recent analysis, the Guttmacher Institute found “26 states are certain or likely to outlaw abortion should Roe be overturned.”

“The rise in global anti-gender and anti-women’s rights is such that people will grasp at anything that seems to make their case solid, and  the case before the supreme court now relies on non-medical, non-scientific misinformation,” said Mofokeng.

“It means we have a risk of now having global jurisprudence – or at least influences in the global world – using jurisprudence that’s ill-informed. And that’s very dangerous, to undo the court’s decisions takes decades, sometimes a lifetime, – and that’s why it’s dangerous.”

US To Ease Travel Restrictions For Fully Vaccinated International Visitors

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Jeff Zients, White House Covid-19 response coordinator, said the new rules will take effect in November to give agencies and airlines enough time to prepare for the influx of travel that will likely come from these new standards.

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Airlines Pushback Reopening Flights Between US And Europe Amid Covid Case Surges 

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US borders are currently closed to travelers from the European Union (EU) and the UK, and have been that way for over 500 days now. While there hasn’t been a formal announcement as to when these borders will reopen, airlines are beginning to push back the scheduled restart of their London-New York flights. 

Initially flights were set to resume between the two major cities in September, but now airlines are waiting until November. New outlets in Ireland seemed to allude that the US would be lifting its travel ban in time for Labor Day weekend, however, no official announcements have been made to confirm those reports. 

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The EU is currently discussing whether or not they will reopen their borders to US citizens while the Department of Homeland Security announced that it will be keeping land borders between Mexico and Canada closed until at least September 21st. 

Land border restrictions don’t apply to cross-border trade, US citizens.lawful permanent residents, or individuals traveling for school or medical reasons. Travel into Canada is also now allowed for US citizens who are fully vaccinated. 

Jeff Zients is the White House Covid-19 coordinator who recently held a press briefing regarding the reopening of international borders and US travel in general. 

“The interagency working groups are currently developing a policy process, and we will be ready when it is the right time to consider reopening travel. And that’ll be guided, as always, by science and public health.”

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Travel correspondent Simon Calder claims that “in the past 48 hours I have asked a number of travel industry chief executives about when the current presidential proclamation banning arrivals from the U.K. might be lifted. Their answers and predictions range from ‘September’ to ‘no idea’.”

“The main problem now appears to be two-fold: inertia (once draconian rules are imposed, they can be slow to remove), combined with an unwillingness in Washington DC to complicate the difficult domestic situation at a time when the Delta variant is running wild across America, especially in the key tourism state of Florida.”

Henry Smith, chairman of the all-party Future of Aviation group told the press that “the figures are going in the wrong direction for the U.S. and I don’t really see any appetite in the U.S. to open up sooner rather than later. It is slightly different for the U.S. because they have such a big domestic market, which means international travel makes up a smaller proportion of the industry’s revenues.”

The US currently allows entry to any US citizen and their dependents as well as anyone who has spent 14 days in a country not listed on the Centers of Disease Control and Prevention’s prohibited list.