Global growth to fall below 3% in 2023: IMF chief

13 Sept 13:37 Key points summarised by AI

The IMF warns global growth will drop below 3% in 2023, primarily due to a significant slowdown across most advanced economies.
Persistent geopolitical tensions and high inflation are impeding a robust global economic recovery, disproportionately affecting vulnerable nations.
Despite strong growth in emerging Asian markets like India and China, this positive trend is overshadowed by the widespread deceleration across 90% of advanced economies.
The IMF projects historically weak growth, around 3%, for the next five years, marking the lowest medium-term forecast since the 1990s.
Low-income countries face severe challenges from high borrowing costs and reduced export demand, risking increased poverty and widespread debt distress.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.