IMF Resumes Dealings with Venezuela Under Interim Leadership

 

Washington — The International Monetary Fund announced on Thursday that it has resumed dealings with Venezuela under the administration of acting President Delcy Rodríguez, guided by the views of IMF members representing a majority of the Fund's total voting power; Managing Director Kristalina Georgieva made the declaration after polling members...

Pakistan Seeks IMF Approval, Ratings Engagements Strengthen Outreach

 

Washington: Finance Minister Muhammad Aurangzeb met rating agencies, international counterparts and lenders at the IMF-World Bank Spring Meetings this week, securing a staff-level agreement with the IMF and engaging Fitch, Moody's and Chinese officials while updating on debt repayments and measures to stabilize Pakistan's external finances. He spoke on the...

South Carolina lowers income tax, two-bracket system set

 

Columbia, South Carolina. Governor Henry McMaster signed a law Wednesday that replaces the state's three-tier individual income tax system with two brackets beginning in tax year 2026. Under the new schedule taxpayers will pay 1.99% on income up to $30,000 and 5.21% on income above that amount, down from a...

Tax Day arrives; extensions urged, Mississippi granted delay

 

Montgomery, Ala. Taxpayers across multiple states faced the April 15 federal filing and payment deadline this week as local CPAs and tax professionals urged those not ready to submit complete 2025 returns to file extensions before the cutoff. Experts in Montgomery, Charleston, Jackson and Orlando stressed that filing an extension...

Wholesale prices jump 4% as Iran conflict boosts energy costs

 

Washington — U.S. wholesale prices rose 4% year‑over‑year in March 2025 as energy costs surged following the Iran war, the Labor Department reported this week. The producer price index increased 0.5% from February, with energy prices up 8.5% month‑to‑month and core producer prices rising 0.1% in monthly terms. Wholesale gains...

U.S. Producer, Import Prices Rise Less Than Expected

 

WASHINGTON — The U.S. Labor Department released March data Tuesday showing the Producer Price Index for final demand rose 0.5% for the month and accelerated to a 4.0% annual gain from 3.4% in February. The Labor Department also reported import prices increased 0.8% in March, with imported fuel and food...

Millions claim exemptions as average refunds increase nationwide

 

Washington this week: Changes to federal tax law produced larger refunds for many filers, with average refunds reported near $3,600, a roughly ten percent increase from last year. Financial advisers urged recipients, ahead of Tax Day, to prioritize high-interest debt repayment, expand emergency savings, or invest in energy-efficient home improvements. Washington...

Nationwide gas prices steady as blockade threat looms

 

Washington — Gas prices held from Sunday to Monday after a three-cent national weekend decline, with the American Automobile Association reporting a $4.125 per gallon national average on Monday. The small weekend drop followed a recent 2026 high in some regions and comes amid continued uncertainty surrounding the Strait of...

IMF Warns Iran Conflict Is Straining Global Economy

 

Washington — IMF Managing Director Kristalina Georgieva said on April 12 that the Iran war, which began Feb. 28, has caused a large disruption to global energy supplies, with about 13% of oil and 20% of gas flows stalled. She made the remarks in interviews and ahead-of-meeting speeches as the...

War Forces IMF, World Bank to Cut Forecasts

 

Washington — Top IMF and World Bank officials are convening this week as the Middle East war that began on February 28 prompted both institutions to downgrade global growth forecasts and raise inflation outlooks. Officials said the conflict constitutes a third major economic shock after the COVID-19 pandemic and Russia’s...