Tag: finance minister

Francois Baroin to replace Lagarde as finance minister

Francois Baroin to replace Lagarde as finance minister

It has been confirmed that 46-year-old Francois Baroin will take over from Christine Lagarde as France’s finance minister. French President Nicolas Sarkozy confirmed the appointment yesterday. The announcement comes after Ms Lagarde became the managing director of the International Monetary Fund (IMF) – the first ever woman in the role. Ms Lagarde replaced Dominique Strauss-Kahn [...]

June 30, 2011 | 0 Comments More
New Zealand lowers interest rates

New Zealand lowers interest rates

New Zealand’s central bank has today lowered interest rates as the economy attempts to rebuild itself after last month’s earthquake in Christchurch. Earlier this month, the country’s Finance Minister Bill English warned that the earthquake will impact negatively on economic growth. Mr English believes the 6.3 magnitude quake could push the nation into recession as [...]

March 10, 2011 | 0 Comments More
Earthquake will hit New Zealand growth

Earthquake will hit New Zealand growth

New Zealand Finance Minister Bill English has today warned last week’s earthquake in Christchurch will impact negatively on economic growth. Speaking to Radio New Zealand, Mr English, who is also deputy prime minister, said: “June-to-June could be close to zero growth.” The disaster, which occurred on 22 February, is believed to have taken more than [...]

March 1, 2011 | 0 Comments More
Spain will not follow Greece and Ireland and seek bailout

Spain will not follow Greece and Ireland and seek bailout

Spain’s finance minister has insisted that the country will not follow Greece and Ireland and seek a bailout. In a newspaper interview published today, Elena Salgado said: “Our fiscal adjustment is on track… we have done all the things that we had to do with our financial sector.” She added that Spain is “absolutely not” [...]

December 6, 2010 | 0 Comments More
India optimistic for double-digit growth

India optimistic for double-digit growth

India’s Finance Minister, Pranab Mukherjee, has expressed his optimism for the economy’s return to growth. According to the FM, the economy should experience growth of 9% but should make it past the double digit barrier in the next two years. He added that the economy was “on a path to rapid recovery” after the latest [...]

November 14, 2010 | 0 Comments More
Greek economy to contract worse than forecast

Greek economy to contract worse than forecast

Greece has today forecast that its economy will contract by up to 3% in 2011 - worse than a previous estimate of 2.6%. Greece’s finance minister, George Papaconstantinou, said today: “Growth will contract by 4% this year, and next year by between 2.5% and 3%.” The country has been battling with its spiralling deficit and [...]

October 27, 2010 | 0 Comments More
Greece makes progress in deficit cuts

Greece makes progress in deficit cuts

The tough austerity measures implemented by the Greek Government appear to be a success after the country’s Finance Minister, George Papaconstantinou, claimed the deficit has been trimmed by 42% this year and the country had “met its goal“. According to figures from the central bank, the deficit was €11.5 billion in the first half of [...]

July 5, 2010 | 0 Comments More
Greek finance minister says debt talks progressing well

Greek finance minister says debt talks progressing well

Greece’s finance minister, George Papaconstantinou, has said talks with the International Monetary Fund (IMF) about emergency loans are progressing well. Last week, the debt-ridden economy called for emergency funding from the IMF and its euro zone partners. Emergency loans of up to €30 billion (£26 billion) are expected to be provided in the first year, [...]

April 26, 2010 | 0 Comments More
Currency intervention may be required in Japan

Currency intervention may be required in Japan

Naoto Kan, Japan’s newly appointed finance minister, is calling for a weaker yen after the Japanese currency continues to gain strength against the US dollar. While a strong yen is good news for the economy, it makes Japanese exports less competitive - but means imports are more affordable to Japanese consumers. Exports are a key [...]

January 7, 2010 | 0 Comments More