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News Tag: IMF

October 10, 2012

UK out of recession economic research institute claims

by Jan Harris
UK out of recession economic research institute claims
The UK economy returned to growth in the third quarter according to the National Institute of Economic and Social Research (NIESR), marking an end to the double dip recession. The NIESR estimates that GDP grew by 0.8 per cent in the three months ending in September, building on an improvement seen in the three months ending in August, when GDP ...




October 19, 2011

Bank of Thailand keeps interest rates on hold despite floods

by Kay Mitchell
”Bank
The Bank of Thailand has opted to keep interest rates on hold at 3.5%, despite the worst floods the country has seen in decades which are set to hamper growth. Thailand, which is South-East Asia’s second largest economy, is expected to see growth of just 2% this year as a result of flood damage, compared with an earlier ...




October 14, 2011

IMF downgrades growth forecast for Asia

by Kay Mitchell
”IMF
The Washington-based International Monetary Fund (IMF) has downgraded its growth prospects for Asia amid the euro zone debt crisis and sluggish US growth. The IMF is now forecasting growth for Asia of 6.3% in 2011 and 6.7% in 2012. This is slightly lower than the 7% growth for both years it estimated in April. According to the Fund, risks for Asia were "decidedly tilted ...




September 26, 2011

Ifo: German business confidence falls for third straight month

by Kay Mitchell
”Ifo:
The Munich-based Ifo think tank has today revealed confidence among German firms fell for the third consecutive month in September. The closely-watched Business Climate Index dipped to 107.5 this month from August’s reading of 108.7 - this represented the lowest level since June 2010. However, the fall was not as bad as the 106.5 economists had expected. The fall ...




August 2, 2011

IMF provides assessment for UK economy

by Kay Mitchell
”IMF
In its latest assessment of the UK economy, the International Monetary Fund (IMF) has said growth will be around 1.5% this year. The Washington-based Fund warned that stubbornly high inflation continues to be a threat to the economy and is forecasting inflation to remain well above the 4% mark in 2011 before falling to 2% by the end of 2012 – returning ...




July 19, 2011

IMF: Action must be taken to prevent debt crisis

by Kay Mitchell
”IMF:
The International Monetary Fund (IMF) has warned euro zone policymakers to take immediate action to prevent the debt crisis spreading outside Europe. The warning comes as Spain’s borrowing costs rose to a 9-year high today as fears continue to grow over the debt crisis in the euro zone. There are fears that Spain, which is the euro zone’s fifth largest ...




July 13, 2011

IMF: Italy must introduce spending cuts

by Kay Mitchell
”IMF:
The International Monetary Fund (IMF) is urging Italy to introduce austerity measures to lower the country’s debt. Its warning comes as there are fears that the euro zone’s third largest economy could be dragged into the euro zone’s debt crisis as it has the second highest sovereign debt ratio in the region. As a result, the Government is now pressing ahead with a ...




June 29, 2011

France’s Lagarde becomes first female IMF chief

by Kay Mitchell
”France’s
It has been confirmed that French Finance Minister, Christine Lagarde, is to become the first ever woman to head the International Monetary Fund (IMF). The 55-year-old has been the front-runner since the position became available when Dominique Strauss-Kahn, former managing director of the IMF, was forced to step down after being accused of sexually assaulting a hotel maid in New York. The ...




June 21, 2011

IMF warns Spanish Government to reduce spending

by Kay Mitchell
”IMF
The International Monetary Fund (IMF) has warned the Spanish Government to continue with its efforts of cutting public spending and reducing unemployment. Like many other Governments across the globe, Spain is taking steps to reduce the deficit but the IMF warned the economy still faces "considerable" risks. In an annual report, the Washington-based Fund said: “The repair of the economy is incomplete ...




Greek PM faces confidence vote

by Kay Mitchell
”Greek
Later today, Greece’s Prime Minister, George Papandreou, faces a confidence vote after the crisis-torn country needs to introduce further austerity measures in order to avoid the euro zone's first sovereign debt default. EU leaders are insistent that the PM secure support for the measures that are a condition of the latest instalment of financial aid. If the cabinet survives the vote, parliament will be ...




June 20, 2011

Euro zone debt crisis could affect UK recovery

by Kay Mitchell
”Euro
Treasury Minister, Mark Hoban, has today said the ongoing “instability” in the euro zone could hold back the recovery of the UK economy. While banks in the UK only have a small exposure to Greek debt compared with France and Germany, it could still have a considerable impact on the economy. Mr Hoban was responding to questions about the Greek debt ...




June 18, 2011

IMF downgrades UK economic growth

by Kay Mitchell
”IMF
The International Monetary Fund (IMF) has warned of risks facing the world economy. However, on a positive note, it maintained its global growth forecasts, expecting the world economy to grow at a rate of 4.3% this year and 4.5% in 2012. In its World Economic Outlook, it upgraded its growth forecast for Germany from 2.5% to 3.2% after recent growth has exceeded expectations. It ...




June 8, 2011

Greek yields up on Wolfgang Schaeuble comments

by Kay Mitchell
”Greek
Germany’s Finance Minister, Wolfgang Schaeuble, has said Greece is at “risk” of default if funds are not provided soon. In a letter dated 6 June to the European Central Bank and the International Monetary Fund (IMF), the Minister said a new package was required as the current one is "insufficient". "A return by Greece to the capital markets within 2012, as assumed ...




IMF downgrades Japanese economic growth

by Kay Mitchell
”IMF
The International Monetary Fund (IMF) has downgraded its growth prospects for the world’s third largest economy. The Fund expects the Japanese economy to contract by 0.7% in 2011, much lower than its previous estimate of 1.4%. The IMF said it lowered its growth forecasts because of March’s earthquake and tsunami. The twin disasters caused billions of pounds worth of damage and have impacted on ...




June 6, 2011

IMF provides assessment for UK economy

by Kay Mitchell
”IMF
The International Monetary Fund (IMF) has today published its annual assessment for the UK economy and is estimating growth of 1.5% this year, down from 1.7% in April. The estimate is roughly in line with other forecasts for the UK economy with the British Chambers of Commerce expecting growth of 1.3%, the Organisation for Economic Cooperation and Development estimating 1.4% but a ...




Concerns for UK economy as many call for “Plan B”

by Kay Mitchell
”Concerns
Some of Britain’s top economists are calling for Chancellor George Osborne to come up with a plan B for the UK economy. It has been suggested that the Chancellor’s massive spending cuts are too harsh for the fragile economy and a plan B on economic policy is required. The comments come shortly after the OECD’s chief economist, Pier Carlo ...




May 22, 2011

Osborne shows support for Lagarde to take IMF role

by Kay Mitchell
”Osborne
Chancellor George Osborne has showed his support for Christine Lagarde to take over as chief at the International Monetary Fund (IMF). Mr Osborne believes the 55-year-old Economy Minister is an "outstanding candidate" for the position and is set to formally nominate her. The chief role at the IMF is available after Dominique Strauss-Kahn was forced to step down after being ...




May 17, 2011

IMF chief could face 25 year prison sentence

by Kay Mitchell
IMF chief could face 25 year prison sentence
Dominique Strauss-Kahn, managing director of the International Monetary Fund (IMF), could be sentenced to up to 25 years in prison if he is convicted of the most serious charge. Sixty-two-year-old Strauss-Khan was arrested at the weekend after being accused of sexually assaulting a hotel maid in New York. Mr Strauss-Kahn denies the charges and is being held, without bail, at New ...




May 13, 2011

Euro zone posts economic growth of 0.8% in Q1

by Kay Mitchell
’Euro
Official figures have today revealed the 17-member euro zone economy grew by 0.8% in the January to March period – up from 0.3% in the previous quarter. Germany, which is the largest economy in Europe, grew by 1.5%, while France reported growth of 1%. Other good performers were Estonia, growing by a staggering 2.1% but Portugal, which is currently negotiating ...




May 12, 2011

IMF warns debt crisis could still spread

by Kay Mitchell
IMF warns debt crisis could still spread
The International Monetary Fund (IMF) has today warned that the euro zone debt crisis could still spread, despite bailouts for Greece, Ireland and Portugal. A report by the IMF said: "Contagion to the core euro area, and then onwards to emerging Europe, remains a tangible downside risk." There are already further fears for Greece after a recent meeting of euro zone ...