Day: 22 October 2024

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World’s largest sovereign wealth fund posts $76 billion profit in latest quarter

Investment data

Norway‘s massive world record breaking sovereign wealth fund reported a third-quarter profit of 835 billion Norwegian kroner ($76.3 billion) on Tuesday 22nd October 2024.

The fund’s performance was attributed to a stock market surge due to the decline interest rates.

The overall return for the quarter stood at 4.4%, which was 0.1 percentage points below the return of its benchmark index.

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IMF head warns of worrying high debt and low growth combination

World debt

The International Monetary Fund’s leader warned on Thursday 17th October 2024 that the global economy continues to be hindered by high government debt and sluggish growth.

MD Kristalina Georgieva praised the efforts of major central banks in controlling inflation but pointed out that such successes were not widespread.

Additionally, Georgieva cautioned that international trade is no longer the growth catalyst it used to be, emphasizing the increase in restrictive policies across numerous economies.

“It is successful major economies that have done really well … and there are pockets in the world where inflation is still a problem,” she reportedly said.

“The impact of higher prices remains, and it is making many people in many countries feel worse off and angry.”

See articles here on the problems of world debt.