تواجه الأسواق الناشئة “تحديًا أكبر” من تعريفة ترامب من Covid: IMF’s Gita Gopinath

The ongoing trade war, which was prepared by US President Donald Trump’s policies, is a more complex challenge to central banks in the market emerging from the Covid-19 pandemic, according to Gita GoPinath, the first deputy director of the International Monetary Fund (IMF).

Advanced economies such as the United States face inflationary pressures from definitions, while emerging markets are witnessing the “trauma of demand”, which is characterized by slower growth and defeated enlargement. This unequal effect creates a dilemma for central banks in emerging markets: whether prices should be reduced to support local demand or raise rates to defend their currencies against high interest rates in the United States.

Jobinaath noted the challenges facing central banks in supporting their economies amid the unexpected impact of definitions on developing economies and global markets. Despite the initial excellent cash mitigation efforts during the epidemic, Jubinant highlighted the differential effects of the current shock, making it a greater challenge for central banks compared to the previous crisis.

Jubinaeth highlighted that “this time the challenge will be greater for them compared to the epidemic”, as the central banks “were moving in the same direction … mitigating monetary policy very quickly.” Flexible economic pressures now require more specially designed strategies. In developing economies, the inability to predict commercial policy, along with the risks of capital airlines and the need to enhance local growth, creates a very difficult monetary environment. This complexity requires an accurate balancing action between supporting growth and maintaining financial stability.

Despite the pressure, the American Federal Reserve indicated that it will not reduce prices until it is confident that the customs tariff will not exacerbate inflationary pressures. GoPinath warns that this cautious approach may tighten global financial conditions and reduce the policy space for emerging economies. The uncertainty surrounding the current commercial policies represents great challenges for these markets, forcing them to move through fog of inability to predict.

Jobinith indicated that during the epidemic, central banks acted in harmony to relieve monetary policy, while the current environment is “more broken” due to the unexpected effects of definitions that cause asymmetric shocks. The global financial scene is witnessing a shift, as central banks are forced to consider countless factors before policy decisions.

Central banks in emerging markets must move in a complex financial political scene, and balance local economic support while defending currencies against consumption and a capital trip. These conditions require the accurate policy and strategic insight to maintain economic stability amid global uncertainty. The complex dance of political amendments becomes very important as these economies seek to protect their financial systems.

The Indian Reserve Bank RBI) is expected to declare a 25-50 basis points at the Monetary Policy Committee meeting on June 6 (Friday). This would represent the third rate reduction this year. Jobinath described the emerging markets’ view as “directing through fog”, with American commercial policies adding layers of uncertainty.

Despite the efforts made to reduce tensions, such as a short truce between the United States and China, recent developments such as Trump’s declaration of double the tariffs on steel and aluminum confirm the volatility of the global trade environment. Continuous shifts in commercial policies require emerging markets graceful and in response to external shocks.

As the trade war continues, the challenges of emerging markets remain important. Politics makers must accurately balance the comparison between local support and the stability of the currency to manage the repercussions of the changing global trade scene effectively. Decisions in the coming weeks can significantly affect the economic paths of these countries.