A newly-published study by International Monetary Fund experts says governments need to be careful how quickly they cut spending or they could hurt the economic recovery. The study’s authors looked at austerity programs in 17 nations over three decades. They came to the conclusion that cutting government spending by the equivalent of one percent of […]
IMF Study: Cut Government Budgets With Care
Posted September 13th, 2011 at 3:25 pm (UTC-5)
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IMF Reaches New Loan Deal With Serbia
Posted August 31st, 2011 at 10:15 am (UTC-5)
Serbia and the International Monetary Fund have reached an agreement on a new 18-month, $1.4 billion standby loan for the Balkan country. The chief of the IMF delegation, Albert Jaeger, said Wednesday the deal will help the country preserve its stability and improve its investment climate. Serbia will only draw from the loan if necessary […]
Serbia Seeks New Stand-by Loan from IMF
Posted August 22nd, 2011 at 9:40 am (UTC-5)
Serbian government officials have opened discussions with a delegation from the International Monetary Fund as they seek a new stand-by loan for the Balkans country. Serbian Prime Minister Mirko Cvetkovic met with an IMF delegation led by Albert Jaeger Monday in Belgrade. The two men agreed that strict budget restrictions and cutting expenditures at all […]
French Court to Investigate IMF Chief Lagarde
Posted August 4th, 2011 at 3:50 pm (UTC-5)
A French court has decided to investigate whether International Monetary Fund chief Christine Lagarde abused her authority when she tried to resolve a legal dispute while serving as French finance minister. The special tribunal known as the Court of Justice of the Republic ordered the investigation of Lagarde Thursday, after examining a complaint brought by […]
French Court to Investigate IMF Chief Lagarde
Posted August 4th, 2011 at 9:00 am (UTC-5)
A French court has decided to investigate whether International Monetary Fund chief Christine Lagarde abused her authority when she served as French finance minister, and tried to resolve a legal dispute involving a controversial tycoon. The court ordered the investigation Thursday after examining the results of a preliminary probe of Lagarde’s actions. Prosecutors accuse her […]
IMF’s Lagarde Urges Quick US Resolution of Debt Crisis
Posted July 26th, 2011 at 9:50 am (UTC-5)
International Monetary Fund chief Christine Lagarde says the United States needs to quickly resolve its debt limit crisis because the “consequences would be far-reaching” if it does not. In a speech Tuesday to the Council on Foreign Relations in New York, Lagarde said U.S. congressional leaders and President Barack Obama need to reach agreement “as […]
New York Prosecutors Want Alleged French Rape Victim to Testify in Strauss-Kahn Case
Posted July 21st, 2011 at 2:50 pm (UTC-5)
New York prosecutors investigating a Manhattan hotel maid’s rape allegations against former International Monetary Fund chief Dominique Strauss-Kahn want a French writer who made similar claims to come to the United States to testify. Writer Tristane Banon’s attorney, David Koubbi, filed the complaint against Strauss-Kahn with the Paris prosecutor’s office earlier this month. It accuses […]
IMF Urges China to Strengthen Yuan, “Rebalance” Economy
Posted July 21st, 2011 at 1:20 am (UTC-5)
The International Monetary Fund is calling on China to undertake a series of reforms of its financial system, including loosening controls on its currency. The Washington-based institution said Wednesday the yuan, also known as the renminbi, is “substantially” undervalued even though China has allowed it to gradually appreciate against the U.S. dollar since last year. […]
IMF Report: Greece’s Debt Could Fall if Measures Strictly Implemented
Posted July 13th, 2011 at 8:30 pm (UTC-5)
The International Monetary Fund said Wednesday that Greece’s debt will decline only if authorities are able to implement their ambitious fiscal and privatization program. In the latest review of its 2010 rescue loan to Greece, the global lending institution warned that for the program to succeed, the austerity measures must be implemented in a timely […]
IMF Urges Decisive Steps to Cut Italy’s Debt
Posted July 13th, 2011 at 7:10 am (UTC-5)
The International Monetary fund Tuesday called for “decisive implementation” by Italy to cut its public debt. Italy has sought to calm market fears about the sustainability of its public debt. As investors continued to dump Italian bonds, Italian leadership has developed an austerity plan. The plan calls for across-the-board cuts. The IMF praised Italy’s efforts […]
