Connect with us

World

One-third of the world will face recession this year, IMF warns

Published

on

Kristalina Georgieva, managing director, International Monetary Fund (IMF), has warned that a third of the global economy will face recession this year.

Georgieva spoke in an interview with CBS, an American broadcast television and radio network, on Sunday.

She said economic activities in the United States, the European Union, and China are all slowing simultaneously.

“We expect one-third of the world economy to be in recession,” the IMF managing director said.

“Half of the European Union will be in a recession this year.”

Georgieva further explained that the rapid spread of Covid-19 in China, especially now that the government has dropped its severe containment policy, means that the country faces a fresh economic blow in the short term.

She said the next couple of months will be “tough for China” due to the spread of the deadly virus.

The projection of the IMF boss aligns with that of Goldman Sachs, a multinational investment bank, that global economic growth will slow to 1.8 percent in 2023.

The IMF, had in October, cut its 2023 outlook for global economic growth, citing the continuing drag from the war in Ukraine as well as inflation pressures and interest rate hikes by major central banks.

“For the next couple of months, it would be tough for China, and the impact on Chinese growth would be negative, the impact on the region will be negative, the impact on global growth will be negative,” Georgieva said.

“For the first time in 40 years, China’s annual growth is likely to be at or below global growth, meaning it could drag down worldwide economic activity rather than propelling it. That has never happened before.”

Georgieva also said the US is likely to escape the worst of the downturn, adding that its strong labour market was likely to help it outperform most other majors.

“The US may avoid a recession because its unemployment is so low,” she said.

“If that resilience  holds in 2023 the US would help the world to get through a very difficult year. The US economy is remarkably resilient.”

Last year, the bank of England said the United Kingdom’s economy was set for a five-quarter recession starting at the end of 2022 — with the gross domestic product (GDP) shrinking.

World

Trump dismisses claims of handing presidency to Musk as ‘hoax’

Published

on

By

Could Elon Musk, who holds major sway in the incoming Trump administration, one day become president? On Sunday, Donald Trump answered with a resounding no, pointing to US rules about being born in the country.

“He’s not gonna be president, that I can tell you,” Trump told a Republican conference in Phoenix, Arizona.

“You know why he can’t be? He wasn’t born in this country,” Trump said of the Tesla and SpaceX boss, who was born in South Africa.

The US Constitution requires that a president be a natural-born US citizen.

Trump was responding to criticism, particularly from the Democratic camp, portraying the tech billionaire and world’s richest person as “President Musk” for the outsized role he is playing in the incoming administration.

As per ceding the presidency to Musk, Trump also assured the crowd: “No, no that’s not happening.”

The influence of Musk, who will serve as Trump’s “efficiency czar,” has become a focus point for Democratic attacks, with questions raised over how an unelected citizen can wield so much power.

And there is even growing anger among Republicans after Musk trashed a government funding proposal this week in a blizzard of posts — many of them wildly inaccurate — to his more than 200 million followers on his social media platform X.

Alongside Trump, Musk ultimately helped pressure Republicans to renege on a funding bill they had painstakingly agreed upon with Democrats, pushing the United States to the brink of budgetary paralysis that would have resulted in a government shutdown just days before Christmas.

Congress ultimately reached an agreement overnight Friday to Saturday, avoiding massive halts to government services.

Continue Reading

World

Seven confirmed dead in Western Mexico plane crash

Published

on

By

At least seven people died when a light aircraft crashed Sunday in a heavily forested area of Jalisco in western Mexico, local authorities reported.

The aircraft, a Cessna 207, was flying from La Parota in the neighbouring state of Michoacan.

Jalisco Civil Protection said via its social media that the crash site was in an area that was difficult to access.

Initial authorities on the scene “reported a preliminary count of seven people dead,” who haven’t been identified yet, according to the agency.

“A fire was extinguished and risk mitigation was carried out to prevent possible additional damage,” it added.

Authorities said they were awaiting the arrival of forensic investigators to remove the bodies and rule out the presence of additional victims.

Continue Reading

World

12 Pathways to U.S. citizenship available in 2025

Published

on

By

There are twelve main pathways for individuals to apply for U.S. citizenship, each with specific criteria and procedures.

These options include family-based immigration, employment opportunities, and asylum, providing various routes for those seeking U.S. citizenship.

According to the DAAD Scholarship, prospective applicants can pursue different immigration routes, depending on their situation.

From marriage to a U.S. citizen to qualifying for the Diversity Visa Lottery, each pathway leads to permanent residency and, eventually, citizenship.

Below is a breakdown of the twelve most common ways to gain U.S. citizenship.

1. Military Service Pathway

Non-citizens who serve in the U.S. military can apply for naturalization during active duty or after one year of service.

Apply here: Naturalization through Military Service

2. Family-Based Immigration (Immediate Relatives)

Immediate relatives of U.S. citizens—spouses, parents, and unmarried children under 21—do not face annual visa caps. After receiving a Green Card, they can apply for citizenship after 3 to 5 years.

Apply here: Green Card for Immediate Relatives 

3. Marriage to a U.S. Citizen

Marrying a U.S. citizen allows immigrants to apply for a Green Card through a spousal visa. After three years of marriage as a permanent resident, they may apply for naturalization.

Apply here: Spousal Visa Information 

4. Diversity Visa (DV) Lottery

The Diversity Visa Lottery offers a random selection process for applicants from countries with low immigration rates to the U.S. If selected, individuals receive a Green Card and can apply for citizenship after five years.

Apply here: DV Lottery Application 

5. Employment-Based Immigration (EB-1, EB-2, EB-3)

Highly skilled workers or professionals in high-demand fields may obtain a Green Card through employment-based visas, including EB-1 and EB-3 categories. After five years, applicants can apply for U.S. citizenship.

Apply here: Employment-Based Green Card 

6. Refugee or Asylum Seeker Pathway

Individuals fleeing persecution can apply for refugee or asylum status and later adjust their status to permanent resident. After five years, they may apply for citizenship.

7. Family-Based Immigration (Preference Categories)

Siblings and married children of U.S. citizens can apply for Green Cards, though the process may take several years due to long waiting times. Once approved, applicants can apply for citizenship after five years.

Apply here: Family Preference Green Card 

8. Study-to-Citizenship Pathway

International students who graduate from U.S. universities on F-1 visas can transition to work visas like H-1B, secure employer sponsorship, and eventually apply for citizenship after five years.

Apply here: Steps to Naturalization 

9. Special Immigrant Visas and Humanitarian Pathways

Special immigrant visas are available for those who have worked with U.S. forces abroad or victims of trafficking. After receiving a Green Card, they may apply for citizenship.

Apply here: Special Immigrant Visa

10. EB-5 Investor Visa

Through the EB-5 program, individuals who invest $900,000 to $1.8 million in a U.S. business may obtain a Green Card. Citizenship can be pursued after five years.

Apply here: EB-5 Immigrant Investor Program 

11. Adoption Pathway

Children under 18 who are adopted by U.S. citizens automatically gain citizenship upon entering the U.S. as permanent residents.

Apply here: Adoption Process 

12. Special Legal Provisions

Some individuals may qualify for citizenship under special provisions, such as the U visa for victims of crime or the registry for those who have lived in the U.S. since 1972.

Common requirements for U.S. citizenship 

Regardless of the pathway, applicants must be at least 18 years old, have continuous residence for 3 to 5 years as a Green Card holder, and be physically present in the U.S. for 18 to 30 months, depending on their specific situation.

Additionally, applicants must demonstrate good moral character, pass an English and civics test, and take the Oath of Allegiance.

The road to U.S. citizenship in 2025 involves multiple options, each with its own challenges. Understanding the requirements of each pathway is essential for anyone seeking permanent residency or citizenship in the United States.

Continue Reading

Most Read...