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The International Monetary Fund (IMF) will hand their second loan installment to Iceland, an amount of US$167 million, after the recessive country overcame political issues that prevented it from receiving the disbursement. The IMF confirmed Iceland would receive the money by the end of the month: “There were delays in policy implementation, reflecting Iceland’s political [...]
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The International Monetary Fund (IMF) has revised up its forecast for global gross domestic product. Initially the IMF predicted a 2.6 percent decline for this year, but has now updated its forecast to a slightly better 2.3 percent decline. It predicts growth of 2.3 percent in 2010. Dougal Crawford, senior economist at government credit agency [...]
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The International Monetary Fund (IMF) indicated its ambition to take on further responsibility as a global lender after an annual meeting with the World Bank yesterday. The reform would see it become the lender of last resort and an economic supervisor for the G20′s sustainable growth plan. Four key reform areas will be the IMF’s [...]
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To millions across the globe, Africa is synonymous with hunger, disease, aids, despots and conflicts. China, India and other Asian countries suffered same stereotyping until few decades ago when they started the current economic transformation through rapid industralisation and international trade. Africa is cautiously on the tails of the Asian Tigers. The continent is quietly [...]
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Japan’s Finance Minister Hirohisa Fujii has flagged the need to implement an exit strategy with regard to the country’s expansionary monetary policies, but notes it is too early to do so considering the current state of the economy. Despite a revival, the Japanese economic recovery will be slow due to rising unemployment and falls in [...]
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Global unemployment will continue to grow for another 8-12 months until economic recovery is stable, according to International Monetary Fund (IMF) managing director Dominique Strauss-Kahn. The lag would be particularly problematic for low income countries, he said: “The problem we are going to face in the coming year may be much more important, much more [...]
...read moreInternational Monetary Fund (IMF) managing director Dominique Strauss-Kahn believes the risk of a ‘double-dip’ recession has faded and the world is on a path to “gradual” recovery. “Our baseline forecast does not envisage a double-dip recession. The global economy will continue picking up steam in the remainder of this year and in 2010,” he said. [...]
...read moreInternational Monetary Fund managing director Dominique Strauss-Kahn has warned that the world has not yet fully recovered from the global economic crisis, despite positive signs from various countries around the world, particularly Europe. Strauss-Kahn said some leaders were being too complacent: “In the minds of too many — not only regular people but also top [...]
...read moreEuropean Union finance ministers are hoping to boost the International Monetary Fund’s (IMF) resources to aid countries suffering from the global economic downturn.
...read moreRebalancing the economies of Asia and the USA will be the key to global recovery, according to the chief economist of the International Monetary Fund (IMF). In an IMF article published in the forthcoming edition of the World Economic Outlook, Olivier Blanchard acknowledged that the current downturn was no ordinary recession and therefore “the turnaround [...]
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