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US recession inevitable

The International Monetary Fund paints a grim picture of the US economy, saying the country has only a slim chance to avoid plunging into a recession. IMF chief economist, Pierreolivier Gourinchas warned that the US economy could dip into a full on downturn even with a small shock. In its latest update, the IMF also slashed the US growth forecast to 2.3% this year about one and a half percentage points lower than April. It is projected to slow further next year with growth of just one-percent. The US inflation hit a forty year high in June amid rising food prices, largely blamed on the war in Ukraine. The US central bank has been raising interest rates aggressively to deal with the scenario. In its latest policy meeting the Federal Reserve has said it is preparing for another rate hike.

Tunisia referendum

Tunisia's opposition alliance has come heavily on the recently-held referendum on the country's new constitution that was put forth by President Kais Saied. It accuses the electoral board of falsifying voter turnout figures. The head of the National Salvation Front once again called on the president to quit and pave the way for free and fair elections, saying Saied’ coup has failed. The call comes a day after authorities claimed that Tunisians voted in favor of a new constitution, with the electoral board putting the turnout at some 27.5% of over 9 million voters. The opposition had boycotted the vote on the draft that would give the president unchecked powers. Last year, Saied sacked the government and froze parliament in a move the opposition called a coup against the country’s democracy. Meawnhile, Saied’s supporters celebrated the outcome of Monday’s vote claiming it was a victory for the president's plan to create a new republic.

JCPOA revival talks

Iran says achieving a strong and lasting agreement under the JCPOA depends on the determination and will of the United States. Foreign Ministry Spokesman, Nasser Kanani says the Islamic Republic wants a deal that guarantees its benefits stipulated under the 2015 accord. Kanani stressed that Iran has always abided by the JCPOA and it is the US that needs to show goodwill and commitment to return to the deal. Former US President Donald Trump unilaterally withdrew his country from the accord and re-imposed sanctions on Iran under his so-called maximum pressure campaign. The remaining signatories have held talks, with an indirect participation of Washington, to revive the agreement. But Tehran demands that the US remove all sanctions and provide guarantees that it won’t quit the deal again.

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