Tag: International Monetary Fund

Philippines capable of double-digit growth – IMF

The International Monetary Fund or IMF expects the Philippines to post double-digit economic growth amid a steady improvement in public investment efficiency over the next 15 years. In a report, IMF Economist Takuji Komatsuzaki said the improvement in public investment efficiency generates substantial additional benefits particularly through higher gross domestic product or GDP growth. The IMF considered two scenarios in the working paper including a permanent increase in public investment by two percent of GDP […]

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Greek creditors to resume reforms audit by March 10: PM

ATHENS, Greece (AFP) — Greek Prime Minister Alexis Tsipras said Tuesday that an EU-IMF audit of the debt-laden country’s reforms would likely resume by March 10, hinting that the process was being delayed by divisions among the creditors. “My estimate is that (senior creditor representatives will) return in the first ten days of March,” Tsipras said in a televised interview. “There must finally be agreement between the (creditors) so we can move forward,” he told Star TV. […]

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IMF boss Lagarde says will run for second mandate

The managing director of the International Monetary Fund (IMF) said on Friday (January 22) she will run for a second term. Christine Lagarde has no obvious challengers and has said previously she was open to serving another term. “Yes I am candidate to a second mandate. I was honoured to receive from the start of the process the backing of France, Britain, Germany, China, Korea, Mexico,” she told France 2 television in an interview from […]

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IMF looks forward to collaboration with AIIB

The International Monetary Fund (IMF) is looking forward to cooperating with the China-initiated Asian Infrastructure Investment Bank (AIIB), said an IMF official on Tuesday. Chikahisa Sumi, assistant director of the Asia and Pacific Department of the IMF, made the remarks at a forum attended by IMF officials and members of U.S. think tanks in Washington, D.C. “Infrastructure investment need is huge, is simply huge. And then infrastructure investment is very productive investment. And then, it […]

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IMF to PH: Get more people to pay taxes while lowering income tax rate

CEBU CITY, Cebu – As the Philippine Congress seeks to finalize a comprehensive tax reform law, the International Monetary Fund (IMF) has proposed that the country get more people to pay taxes while it lowers its income tax rate. Doing so would safeguard the country’s revenue stream, said IMF Resident Representative to the Philippines Shanaka Jayanath Peiris during a press briefing at the sidelines of the Asia-Pacific Economic Cooperation (APEC) meetings. “A comprehensive approach would […]

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IMF cuts global forecast for 2015

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 […]

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IMF gives Philippines favorable score on fiscal transparency

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, […]

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IMF projects moderate, uneven world economy in 2015

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 […]

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Reforms to IMF hit serious deadlock: G20 official

By Lidia Kelly WASHINGTON Sun Apr 13, 2014 2:16am EDT (Reuters) – Reforms to the International Monetary Fund have hit a deadlock despite a declaration from global financial chiefs that they would move forward without the United States if it fails to ratify the changes by year-end, a G20 official said on Sunday. The inability to proceed with giving emerging markets a more powerful voice at the IMF and shoring up the lender’s resources appeared […]

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