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A new IMF report says a gradual recovery continues, but global growth is forecast to be slightly down for 2015, reflecting an unexpected setback to economic activity in the first quarter of 2015, mostly in North America. IMF’s economist Olivier Blanchard said, “If you look at advanced economies, they’re actually suffering from the legacies of the crisis. Looking forward, their potential growth is clearly lower. If you look at the emerging market economies, they really […]
(REUTERS) Greece is a small part of the world economy, and its possible exit from the euro zone should have limited impact on the rest of the world, the IMF’s chief economist said on Thursday, though he warned similar crises could happen in other countries. Greece is racing to find a last-minute third bailout from its IMF and European Union creditors to avoid bankruptcy and exit from the euro zone. “In a world in which […]
A RECENT evaluation report of the International Monetary Fund (IMF) had validated the Aquino administration’s transparency agenda as having helped launch reforms in the country, a Palace official has said. The IMF recently gave the Philippines a favorable score on fiscal transparency. In its June 2015 report, the IMF cited the Philippines’ public financial management reform strategy as having helped initiate reforms. The country’s fiscal reporting was recognized by the IMF as being timely, frequent, […]
(Reuters) — People on the streets of the Greek capital expressed anger with their government on Wednesday (July 1), the morning after Greece defaulted on a 1.6 billion euro loan from the International Monetary Fund (IMF). Greece’s last-minute overtures to international creditors for financial aid on Tuesday (June 30) were not enough to save the country from becoming the first developed economy to default on a loan with the IMF. The IMF confirmed that Greece […]
(REUTERS) Greek ministers arrived in Athens on Sunday (June 21) for a full cabinet meeting with Prime Minister Alexis Tsipras to discuss concessions the government may present at an emergency eurozone summit on Monday (June 22). Greece’s left-wing government promised on Saturday (June 20) to offer concessions to creditors to unlock billions of euros in funds and stave off default. With its banks hanging on life support from the European Central Bank, and billions of […]
THE International Monetary Fund (IMF) expects the world economy to be moderate and uneven in 2015 and a slower growth in China. The IMF projected that the global economy will expand 3.5 percent in 2015 accroding to a report made by IMF on Tuesday at its headquarters in Washington D.C.. At its news conference on Tuesday, IMF Economic Counselor Olivier Blanchard described this year’s growth as “moderate and uneven.” “The words we have used is […]
Ukraine received a lifeline from the International Monetary Fund (IMF), winning a 27 billion dollar support fund, in the wake of the Russian annexation of Crimea. The IMF announced a 14 to 18 billion dollar standby credit for Kiev in return for tough economic reforms. The United States Congress also passed legislation on Thursday backing a one billion dollar loan guarantee for Ukraine. US president Barack Obama lauded the announcement.
