German Chancellor Angela Merkel has rebuffed a call by the International Monetary Fund to give Greece more time to meet its budget-cutting goals. German Finance Minister Wolfgang Schaeuble conveyed the chancellor’s comment Friday at the IMF annual meeting in Tokyo, in response to a suggestion by IMF chief Christine Lagarde that Greece may need two […]
IMF Predicts Slower Economic Growth
Posted October 9th, 2012 at 11:45 am (UTC-5)
Experts at the International Monetary Fund say the global economy will expand more slowly this year, while the risks of serious economic problems are growing. The IMF has cut its global growth forecast slightly to just 3.3 percent. The glum prediction caused many stock markets to decline in Tuesday trading. It comes as key economic […]
IMF Predicts Slower Global Economic Growth
Posted October 9th, 2012 at 2:40 am (UTC-5)
The International Monetary Fund is cutting its prediction for global economic expansion this year, and the fund’s experts say the risks of serious economic problems are growing. IMF chief economist Olivier Blanchard says that advanced economies are at risk of recession, and emerging markets like China are becoming increasingly affected. “The world economic recovery continues, […]
Japan: Chinese Officials to Attend IMF Summit in Tokyo
Posted October 4th, 2012 at 7:15 am (UTC-5)
Japan says it expects Chinese delegates to attend next week’s meeting of the International Monetary Fund in Tokyo, despite Beijing’s heated territorial dispute with Japan. A senior Japanese finance ministry official said Thursday that China’s finance minister and central banker are both slated to attend the annual meetings. Some major Chinese banks have already pulled […]
Egypt Seeks $4.8 Billion IMF Loan
Posted August 22nd, 2012 at 8:10 pm (UTC-5)
Egypt has formally asked the International Monetary Fund for a rescue package of up to $4.8 billion, as it struggles with its faltering economy after more than a year of political turmoil triggered by a popular uprising. Egyptian Prime Minister Hisham Qandil, speaking Wednesday, said the loan is aimed at lowering Egypt’s borrowing costs. He […]
IMF: Europe’s Problems Slow US Economic Recovery
Posted July 3rd, 2012 at 1:35 pm (UTC-5)
The head of the International Monetary Fund, Christine Lagarde, says the “tepid” U.S. economic recovery could be hurt by two problems: Europe’s economic troubles and U.S. political gridlock. “The first one is clearly an exposure to potential contagion from an intensification of the euro area debt crisis….” She says Europe’s problems could hurt the American […]
IMF Head Upbeat After Spring Meetings
Posted April 21st, 2012 at 7:05 pm (UTC-5)
The semi-annual International Monetary Fund-World Bank meetings in Washington came to a close Saturday after top economies pledged more money to the IMF to help combat future economic troubles around the world, especially in Europe. IMF managing director Christine Lagarde said the big development of the meetings was the combined $430 billion pledge in additional […]
Japan Pledges $60 Billion to IMF
Posted April 17th, 2012 at 1:15 am (UTC-5)
Japan says it will provide $60 billion in loans to the International Monetary Fund to boost its efforts to contain the European sovereign debt crisis. Finance Minister Jun Azumi revealed the plan Tuesday during a news conference in Tokyo, making Japan the first non-European country to commit additional resources to the IMF. Eurozone countries have […]
IMF Chief Lays Out Agenda for Global Recovery
Posted April 4th, 2012 at 4:30 am (UTC-5)
The head of the International Monetary Fund is warning world leaders against a false sense of security as the global economy recovers from its hardest winter in a generation. Speaking in Washington Tuesday, IMF Managing Director Christine Lagarde said she sees welcomes signs of a thaw in the world economy compared to a few months […]
IMF: Global Economy Improves, but Remains Fragile
Posted April 3rd, 2012 at 12:10 pm (UTC-5)
The head of the International Monetary Fund says the global economy is improving after a difficult time, but remains fragile. In a Tuesday speech to journalists in Washington, Christine Lagarde warned against complacency or insularity. She said Europe’s economy is showing some encouraging signs, but remains under strain, while the United States is seeing improved […]
