IMF may not participate in third Greek bailout July 31, 2015 The International Monetary Fund (IMF) has said it could be prevented from participating in Greece's third bailout programme, due to the state's debt pile and poor record of implementing previous economic reforms, it has been reported. This means while IMF staff will continue to participate in current negotiations around the Greek debt crisis, it could be [...]
Greece invites the IMF to join in upcoming bailout talks July 29, 2015 The International Monetary Fund (IMF) yesterday confirmed that it had been invited by Greece to enter into negotiations with European creditors over a third bailout deal worth up to €86bn (£60.8bn). "We confirm that we have received a letter from the Greek authorities indicating that they are seeking a new loan facility from the IMF. We [...]
George Osborne’s budget deficit elimination plan gets IMF seal of approval July 28, 2015 Chancellor George Osborne’s plans to eliminate the budget deficit by 2020 received a thumbs up from the International Monetary Fund (IMF) yesterday. While some have argued that his aim to balance the state books is a risk to the UK’s economic recovery, the IMF said that sustainable growth would require moving away from public [...]
IMF tells Eurozone to get on with reforms to boost growth as lending picks up July 27, 2015 The International Monetary Fund (IMF) warned today that the Eurozone’s economy was at risk of tipping back into stagnation. Read more: 2015 IMF growth forecast: UK pulling ahead but global economy downgraded “A moderate shock to confidence—whether from lower expected future growth or heightened geopolitical tensions—could tip the block into prolonged stagnation,” said Mahmood Pradhan, the [...]
IMF’s Christine Lagarde says Greek plan not viable without debt reduction July 17, 2015 IMF chief Christine Lagarde has said that the deal between Greece and its creditors will be "categorically" impossible without some form of debt relief. "The answer is quite categorically not," she said in response to questions on the viability of the €86bn (£59.8bn) three-year aid package on France's Europe1 radio station. Lagarde added any debt [...]
Greece missed another IMF payment last night July 14, 2015 Raising virtually no eyebrows at all, the International Monetary Fund (IMF) announced last night that Greece has missed another payment – this time of about €456m (£323.9m). Lest we forget, Greece is already in arrears to the IMF, to the tune of €1.6bn, after it missed a payment at the end of June. A statement [...]
Greek debt crisis: IMF’s Lagarde says debt restructuring needed July 8, 2015 IMF chief Christine Lagarde has stressed Greece's huge debt pile needs restructuring and said the organisation remains "fully engaged" with the cash-strapped country. "Greece is in a situation of acute crisis, which needs to be addressed seriously and promptly," she said during a speech at the Brookings Institution think-tank in Washington. Earlier today Greek Prime Minister [...]
IMF annual review on the US economy: GDP will grow by 2.5 per cent in 2015 July 7, 2015 The US economy will shrug off a slow first quarter to grow by 2.5 per cent this year, according to the International Monetary Fund's (IMF) annual review. The IMF said it expects the US economy to bounce back from the first quarter when it shrank by 0.2 per cent, as this was due to bad weather, plummeting oil [...]
IMF calls on the US to complete post-crisis reforms July 7, 2015 The International Monetary Fund (IMF) has called on the United States to complete reforms promised in the aftermath of the financial crisis. The Washington-based organisation said one key post-crisis reform, the Dodd Frank Act, must be strengthened as well as protected from legislative proposals to water it down. Key areas of contention that need to [...]
IMF: Greece needs debt reduction due to poor recent governance July 2, 2015 One of Greece’s official creditors has acknowledged that the country needs debt relief, but only due to the choices of its current leadership elected in January. The International Monetary Fund (IMF) said yesterday that Greece would need more than €50bn (£36bn) in financing by the end of 2018, as well as a doubling in the length [...]