The International Monetary Fund has approved a nearly $134 million loan for Afghanistan, more than a year after the Kabul Bank crisis prompted the group to suspend its credit program for the country. The IMF announced the three-year loan arrangement Tuesday, saying it will support Afghanistan’s economic reforms. The U.N. agency says the program will […]
IMF Approves New Credit Program for Afghanistan
Posted November 15th, 2011 at 11:55 am (UTC-5)
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Afghan Finance Minister: IMF to Reinstate Credit Program
Posted November 15th, 2011 at 7:10 am (UTC-5)
Afghan officials say the International Monetary Fund has reached a deal to restore a credit program for Afghanistan, over a year after the country lost millions of dollars in international funding due to the Kabul Bank scandal. The Afghan Ministry of Finance said Tuesday that the IMF has approved a three-year, $129 million loan to […]
IMF Warns China of Risks to Financial Sector
Posted November 15th, 2011 at 3:10 am (UTC-5)
The International Monetary Fund is urging Chinese policymakers to allow their banking system to operate on a more commercially oriented basis. The Washington-based lender issued a report Tuesday based on stress tests of China’s 17 biggest banks. The IMF says the system appears to be “resilient to isolated shocks” such as a sharp decline in […]
IMF Chief Lauds Asia’s Economic Role, Cites Dangers Ahead
Posted November 9th, 2011 at 2:50 am (UTC-5)
The head of the International Monetary Fund is promoting the important role of Asia in the recovery of the global economy and urging the region to be ready in the event of another worldwide recession. In a speech Wednesday at the International Finance Forum in Beijing, Christine Lagarde said the economic rise of Asia is […]
IMF Officials Complete Three-Week Visit to Burma
Posted November 3rd, 2011 at 1:40 am (UTC-5)
The International Monetary Fund says its experts have concluded talks with Burmese officials on their plans to reform the country’s currency exchange practices. The IMF says its team held three weeks of discussions with representatives from Burma’s public and private sectors in the capital Naypyitaw that ended on Monday. The team was in the country […]
IMF Lowers Asian Growth Forecast, Citing US, European Troubles
Posted October 13th, 2011 at 4:40 am (UTC-5)
The International Monetary Fund says near-term risks to Asia’s economy are rising because of financial turbulence in Europe and a possible slowdown in the United States. In a twice-yearly report released Thursday, the IMF lowered its forecast for economic growth in Asia to 6.3 percent this year and 6.7 percent in 2012. It had previously […]
Analysts Disappointed by IMF, World Bank Meeting
Posted September 26th, 2011 at 10:10 am (UTC-5)
Recent efforts by the International Monetary Fund and the World Bank to help Europe deal with government debt problems got mixed reviews on Monday. Oil prices posted modest gains as investors bet that resolving the issue would boost the economy and increase energy demand and prices. Prices on world stock markets were mixed. After days […]
IMF to Loan Ivory Coast $614 Million
Posted September 15th, 2011 at 3:00 pm (UTC-5)
The International Monetary Fund says it plans to lend Ivory Coast $614 million to help its economy recover from months of post-election violence. In a statement Thursday, the IMF said the loan will be spread over three years, until 2014, subject to the approval of its executive board. The IMF statement said the loan is […]
IMF to Loan Ivory Coast $614 Million
Posted September 15th, 2011 at 2:50 pm (UTC-5)
The International Monetary Fund says it plans to loan Ivory Coast $614 million to help its economy recover from months of post-election violence. In a statement Thursday, the IMF said the loan will be spread over three years until 2014, noting that its executive board must still give approval. The statement said the loan is […]
IMF’s Lagarde: Global Economy in ‘Dangerous Phase’
Posted September 15th, 2011 at 12:10 pm (UTC-5)
The head of the International Monetary Fund says the global economy has entered a “dangerous phase” in which advanced economies risk slipping into a new recession that also would hurt developing nations. IMF Managing Director Christine Lagarde said weak growth and huge debts are holding back demand, investment and job creation. Lagarde said that if […]
