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Africa poses critical challenge for World Bank, IMF

Jul 21, 2019 - 8:15 PM

There is a need for massive investment in infrastructure and job creation in the coming years just to keep pace with Africa's growing population

POVERTY. People walk along an open sewer in a slum in Africa. Photo from Shutterstock

IMF upgrades U.S. growth forecast but warns of rising risks

Jun 06, 2019 - 10:35 PM

The International Monetary Fund expects the United States economy to grow by 2.6% in 2019, but says the country must quickly resolve its trade war with China

Chinese shipping containers are stored beside a US flag after they were unloaded at the Port of Los Angeles in Long Beach, California on May 14, 2019. - Global markets remain on red alert over a trade war between the two superpowers China and the US, that most observers warn could shatter global economic growth, and hurt demand for commodities like oil. (Photo by Mark RALSTON / AFP)

IMF's Lagarde: Resolving trade tensions 'immediate priority' for G20

Jun 06, 2019 - 6:00 PM

International Monetary Fund chief Christine Lagarde describes the United States and China's tit-for-tat tariffs as 'self-inflicted wounds that must be avoided'

Signs with the US flag and Chinese flag are seen outside a store selling foreign goods in Qingdao in China's eastern Shandong province on September 19, 2018. - China on September 18 announced tariffs on US goods worth $60 billion in retaliation for President Donald Trump's decision to slap duties on $200 billion in Chinese products next week. (Photo by STR / AFP) / China OUT

IMF slightly lowers China's 2019 GDP growth forecast to 6.2%

Jun 05, 2019 - 7:20 PM

The International Monetary Fund points to China's trade war with the United States, warning that 'growth will suffer'

This picture taken on May 14, 2019 shows workers making clothes for export at a factory in Quanzhou in China's eastern Fujian province. (Photo by STR / AFP) / China OUT

Venezuela claims 130,000% inflation, below international estimates

May 29, 2019 - 6:24 PM

Millions of people have fled the country as astronomical rises in the cost of consumer goods and broader economic woes have made food and basic supplies unobtainable for average people

IMF warns U.S.-China trade war will 'jeopardize' 2019 global growth

May 23, 2019 - 10:54 PM

'Consumers in the US and China are unequivocally the losers from trade tensions,' Gita Gopinath, the International Monetary Fund's chief economist, says in a blog post

IMF aid programs mostly help but need fine-tuning – report

May 21, 2019 - 4:15 PM

An International Monetary Fund review finds that aid packages serve as 'shock absorbers' but also face obstacles, such as economic growth forecasts that proved too optimistic

TRADE TENSIONS. International Monetary Fund Managing Director Christine Lagarde addresses the Paris Forum at the Economy Ministry in Paris on May 7, 2019. Photo by Eric Piermont/AFP

Brexit delay averts 'terrible outcome' – IMF's Lagarde

Apr 12, 2019 - 12:57 PM

However, the IMF chief says: 'It's obvious that it's continued uncertainty and it does not resolve, other than by postponing what would have been a terrible outcome'

ARAB DEBT. Christine Lagarde warns of high public debt among Arab nations. File photo courtesy of the IMF

IMF cuts global growth estimate to 3.3% as world economy loses steam

Apr 09, 2019 - 9:23 PM

The IMF's World Economic Outlook once again downgrades global growth to 3.3% for 2019, two tenths lower than the global crisis lender forecast in January and 4 tenths lower than October

IMF. In this file photo taken on September 4, 2018, the logo of the International Monetary Fund is seen at the IMF headquarters in Washington, DC. File photo by Jim Watson/AFP

'Precarious' global rebound expected in late 2019 – IMF's Lagarde

Apr 03, 2019 - 1:15 PM

International Monetary Fund Managing Director Christine Lagarde says the world economy is vulnerable to shocks from Brexit, high debt levels, and trade tensions

International Monetary Fund (IMF) Managing Director Christine Lagarde speaks at the US Chamber of Commerce April 2, 2019, in Washington, DC. - Global growth in 2019 should be even slower than previously expected but a "precarious" rebound is likely later this year, the head of the International Monetary Fund said Tuesday. In a speech ahead of next week's spring meetings with the World Bank, IMF chief Christine Lagarde said the world economy was vulnerable to shocks from Brexit, high debt levels and trade tensions, as well as unease on financial markets. (Photo by Brendan Smialowski / AFP)

Eurozone 'not resilient enough' to weather another economic crisis – IMF chief

Mar 28, 2019 - 9:33 PM

IMF Managing Director Christine Lagarde says the currency union 'is not resilient enough' to emerge unscathed from 'unexpected economic storms'

LAGARDE. International Monetary Fund chief Christine Lagarde in Frankfurt am Main, Germany, April 5, 2016. File photo by Daniel Roland/AFP

IMF chief warns of high Arab public debt

Feb 09, 2019 - 8:11 PM

Nearly half of Arab countries now have public debt of over 90 percent of GDP, says International Monetary Fund chief Christine Lagarde

ARAB DEBT. Christine Lagarde warns of high public debt among Arab nations. File photo courtesy of the IMF

'Window of opportunity narrowing' on global growth – IMF

Oct 13, 2018 - 4:02 PM

The International Monetary Fund also warns that 'everyone is going to suffer' from a trade-and-currency clash between the United States and China, the world's two biggest economies

Venezuela to remove 5 zeroes from currency

Jul 26, 2018 - 12:23 PM

The measure, according to Venezuelan President Nicolas Maduro, seeks to 'protect' local currency

HYPERINFLATION. A man counts 1000-Bolivar-bills to buy groceries at the municipal market of Coche, a neighborhood of Caracas, on June 20, 2018. Photo by Federico Parra/AFP

SC ousts Sereno, Duterte on Lagarde, Trump to meet Kim in Singapore | Midday wRap

May 11, 2018 - 1:00 PM

Watch Rappler's midday newscast with Jee Geronimo

Duterte on IMF's Lagarde: 'Halikan mo lang, mag-iba ang isip niyan'

May 11, 2018 - 7:09 AM

President Rodrigo Duterte makes a sexist remark against IMF chief Christine Lagarde after the multilateral lender released its World Economic Outlook

IMF CHIEF. International Monetary Fund Managing Director Christine Lagarde speaks at the Center for Global Development in Washington, DC, July 14, 2016. File photo by Jim Watson/AFP

Ghana president says 'no reason' to return to IMF

Feb 08, 2018 - 11:51 PM

Ghana President Nana Akufo-Addo tells parliament his government had buckled down on mismanagement and pledged to stabilize the economy to avoid another bailout

NANA AKUFO ADDO. President of the Republic of Ghana Nana Akufo Addo addresses the audience at The Confederation of African Football (CAF) 2017 Awards at The Accra International Conference Centre in Accra on January 4, 2018. Photo by Cristina Aldehuela/AFP

Roque sorry for tweeting 'Agnes Legarda,' not 'Christine Lagarde'

Nov 10, 2017 - 11:13 PM

(UPDATED) President Duterte's spokesman says he was probably thinking of UN rapporteur Agnes Callamard when he tweeted about IMF head Christine Lagarde

Philippines pledges $1 billion to IMF emergency fund

Oct 31, 2017 - 6:15 PM

The emergency fund is used to provide assistance to ailing economies

SHARED RESPONSIBILITY. This is the Philippines' commitment to contribute to the stability of the international monetary system given its sound macroeconomic fundamentals. In the photo are BSP Governor Nestor Espenilla Jr (r) and IMF head Christine Lagarde. Photo from BSP

IMF tells Gulf states to speed up switch from oil

Oct 31, 2017 - 2:11 PM

The IMF advises energy-rich Gulf economies to speed up their diversification away from oil after projecting the worst growth for the region since the global financial crisis

This file photo taken on October 4, 2012 shows skyscrapers in the Qatari capital Doha. Patrick Baz/AFP

Spend more on schooling to reduce inequality – IMF

Oct 11, 2017 - 10:20 PM

Unlike other methods of redistributing wealth, education both promotes economic growth at the same time as it reduces income inequality, the International Monetary Fund report says

IMF cuts 2017, 2018 Philippine GDP forecasts

Aug 09, 2017 - 2:25 PM

The multilateral lender cuts its Philippine economic growth forecast to 6 6 for 2017 and 6 8 for 2018 but remains optimistic about the country s economy

REMAINS OPTIMISTIC. Despite a downgrade in forecasts, International Monetary Fund says it is still 'very optimistic about growth in the Philippines.' Rappler file photo

Greece, creditors look to debt relief after provisional fiscal deal

May 02, 2017 - 12:39 PM

3rd UPDATE Greece reaches a preliminary deal with its creditors that should pave the way for long awaited debt relief talks the Greek finance minister says

A woman stands by European Union and Greek flags in central Athens on April 21, 2017. Louisa Gouliamaki/AFP

IMF's Lagarde 'optimistic' about U.S. economy

Feb 12, 2017 - 7:25 PM

Christine Lagarde predicts tax reform and more investment in infrastructure are both likely under US President Donald Trump

International Monetary Fund (IMF) managing director Christine Lagarde attends a session at the Congress centre on the second day of the World Economic Forum, on January 18, 2017 in Davos. With the world's elite holding its breath until Donald Trump becomes the next US president, outgoing Vice-President Joe Biden addresses the World Economic Forum in Davos / AFP PHOTO / FABRICE COFFRINI

IMF says Greece debt 'explosive' in long term

Jan 28, 2017 - 10:49 AM

The pessimistic report though in keeping with the fund s repeated statements on the topic makes it more unlikely the IMF stays on the sidelines of any new European loan deal for Greece

A file photo dated 18 May 2011 showing the sign of the International Monetary Fund at the entrance of the Headquarters of the IMF, also known as building HQ2, in Washington, DC, USA. File photo by Jim Lo Scalzo/EPA

IMF chief Lagarde found guilty over French tycoon payment

Dec 19, 2016 - 11:07 PM

UPDATED A French court finds IMF head Christine Lagarde guilty of negligence over a massive state payout to a tycoon when she was French finance minister but she will continue to lead the fund

CHRISTINE LAGARDE. This file photo taken on December 12, 2016 in the courtroom at the Paris courthouse shows IMF chief Christine Lagarde next to a Gendarme prior to the start of her trial before the Court of Justice of the Republic, a special tribunal used to try ministers. Photo by Martin Bureau/ AFP

EU, IMF 'going in circles' on Greek debt relief

Dec 04, 2016 - 3:21 PM

Eurozone finance ministers meet Monday December 5 as far apart as ever on the debt relief measures demanded by the International Monetary Fund IMF for it to back their bailout program for Greece

A man withdraws cash from an ATM machine in Athens on July 19, 2016. Kostis Ntantamis/AFP

Debt mountain, weak banks imperil global economy – IMF

Oct 06, 2016 - 7:00 PM

High debt levels are costly as they often end up in financial recessions that are deeper and longer than normal recessions warns IMF Fiscal Affairs Department chief Vitor Gaspar

A man withdraws cash from an ATM machine in Athens on July 19, 2016.  The European Union and Greece hope to reach a deal on the crisis-hit country's debt mountain by the end of the year, EU economic affairs chief Pierre Moscovici said on July 18. An upcoming review of the Greek bailout in the autumn will include bad bank loans and a labour relations overhaul likely to cause social unrest. / AFP PHOTO / Kostis Ntantamis

World powers 'misuse' World Bank, IMF – BRICS bank exec

Oct 06, 2016 - 4:40 PM

The BRICS would not have gone so far as to create their own development bank if they were fully satisfied with the existing institutions says Paulo Nogueira Batista vice president and chief risk officer at the New Development Bank

This IMF handout photo shows International Monetary Fund Managing Director Christine Lagarde (C) joins John Chambers (R), Chairman of the Board, Cisco Systems; Leila Janah (2nd R) Founder and CEO of Sama and Laxmi; Ray Kurzweil (2nd L), author, inventor and futurist and Hilda Moraa (L), Founder, Weza Tele and Fintech as they talk at a Seminar on Technology, Innovation, and Inclusive Growth at the 2016 IMF/World Bank Annual Meetings October 5, 2016 at the IMF Atrium Headquarters in Washington, DC. / AFP PHOTO / IMF / STEPHEN JAFFE / RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO / IMF/STEPHEN JAFFE" - NO MARKETING NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS

IMF warns of protectionist threat to global growth

Oct 05, 2016 - 11:30 AM

The International Monetary Fund cuts its economic outlook for the United States but upgrades those for Japan and the eurozone

This IMF handout photo shows International Monetary Fund Economic Counsellor Maurice Obstfeld as he answers questions during the World Economic Outlook Press Conference at the IMF Headquarters during the 2016 IMF/World Bank Annual Meetings October 4, 201 in Washington, DC. / AFP PHOTO / IMF / Stephen Jaffe / RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO /IMF/Stephen JAFFE" - NO MARKETING NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS

IMF's Lagarde warns G20 to avoid 'low-growth trap'

Sep 02, 2016 - 12:00 AM

UPDATED Not since the early 1990s has the world economy been so weak for such a long time says the International Monetary Fund s Christine Lagarde

International Monetary Fund Managing Director Christine Lagarde speaks at the Center for Global Development in Washington, DC, July14, 2016, marking the 15th anniversary of the Center. / AFP PHOTO / JIM WATSON

New Greek bailout finds IMF in a political bind

Aug 02, 2016 - 3:00 PM

If the International Monetary Fund bails Greece out again some will surely see Europe s hand pulling the strings

epaselect epaselect epa04845996 An old man stands outside a shop selling Greek and European flags in central Athens, Greece 14 July 2015. Greece's deal with its creditors keeps the country in the European Union, Prime Minister Alexis Tsipras said after eurozone leaders agreed to a new bailout programme. EPA/YANNIS KOLESIDIS

Internal auditor hits IMF handling of 2010 Greece bailout

Jul 28, 2016 - 11:24 PM

An independent probe into the IMF s handling of European bailouts finds that it bent its rules and was vulnerable to political pressure as it embarked on the ill fated 2010 Greece rescue

A file photo dated May 18, 2011 showing the sign of the International Monetary Fund at the entrance of the Headquarters of the IMF, also known as building HQ2, in Washington, DC, USA. Jim Lo Scalzo/EPA

Brexit is risk to global growth, says G20

Jul 24, 2016 - 1:10 PM

3rd UPDATE But G20 finance chiefs say their countries are well positioned to proactively address the potential economic and financial consequences of Britain s decision

epa05438652 G20 Finance Ministers and Central Bank Governors pose for a group photo during a conference in Chengdu, Sichuan Province, China, 24 July 2016. Finance Ministers and Central Bank Governors of the 20 most developed economies met in the southwestern city of Chengdu ahead of a G20 leaders meeting in September hosted by China. EPA/NG HAN GUAN/POOL

Brexit to drag on global growth through 2017 – IMF

Jul 19, 2016 - 10:50 PM

The International Monetary Fund now predicts global economic growth to be 3 1 this year and 3 4 in 2017

epaselect epa05387297 An investor looks at an electronic screen showing stock market movements at a securities brokerage house in Beijing, China, 24 June 2016. Chinese mainland markets traded lower, with the Shanghai composite down 0.95 percent and the Shenzhen composite down 0.10 percent in reaction to the British EU referendum. Britons in a referendum on 23 June have voted by a narrow margin to leave the European Union (EU). Media reports on early 24 June indicate that 51.9 per cent voted in favour of leaving the EU while 48.1 per cent voted for remaining in. EPA/HOW HWEE YOUNG

IMF retains PH growth outlook for 2016 despite global headwinds

Jul 12, 2016 - 9:45 PM

The Philippines is seen to survive the twin threats of the Brexit fallout and an impending interest rate hike by the US Fed

At start of 2nd term, Brexit crisis challenges IMF's Lagarde anew

Jul 07, 2016 - 8:45 PM

UPDATED The EU has to do a lot more to explain what it does what it means for people says International Monetary Fund chief Christine Lagarde

CHRISTINE LAGARDE. International Monetary Fund Managing Director Christine Lagarde at the Michel Camdessus Central Banking Lecture, at the IMF Headquarters in Washington, DC., USA, June 24, 2016. File photo by Stephen Jaffe/EPA

Emergency measure that feeds Greek crisis

Jul 03, 2016 - 12:35 PM

Overall the Greek economy which had begun growing again at the end of 2014 shrinks by 1 4 in the first quarter of 2016

Employees of the Greek largest retail chain, Marinopoulos, Carrefour's franchise partner in Greece and some Balkan countries, march towards the company's building after breaking into the company's premises in Southern Athens on June 29, 2016 after the company filed for protection from its creditors, under the threat of confiscations. Marinopoulos, Greece’s biggest supermarket chain, is on the verge of bankruptcy. Photo by Louisa Gouliamaki/ AFP

IMF warns the US over high poverty, inequality

Jun 23, 2016 - 1:00 PM

The International Monetary Fund lowers its outlook for economic growth in the United States where 46 7 million people are living in poverty

epa04263269 A homeless man, who did not want to identified, sits on a sidewalk in New York, New York, USA, 16 June 2014. A report released earlier this year showed that nearly half of of the city's population is living near poverty levels. EPA/JUSTIN LANE

IMF: Oil exporters must do more to balance budgets

Jun 09, 2016 - 3:40 PM

The International Monetary Fund says deep structural reforms are needed to create jobs for the growing labor force

epa05329527 (L-R) Bahraini Foreign Minister Sheikh Khalid bin Ahmed al-Khalifa, Kuwait's Foreign Minister Sheikh Sabah al Khalid al Sabah, Saudi Arabian Foreign Minister Adel al-Jubeir, Russian Foreign Minister Sergei Lavrov, Oman's Foreign Minister Yusuf bin Alawi bin Abdullah, Qatar's Foreign Minister Mohammed bin Abdulrahman bin Jassim al-Thani, UAE Minister of State for Foreign Affairs Anwar Gargash and Secretary-General of the Gulf Cooperation Council (GCC) Abdullatif bin Rashid Al Zayani pose during the family photo of the 4th meeting of the strategic dialogue Russia-Cooperation Council for the Arab States of the Gulf, or the Gulf Cooperation Council (GCC), in Moscow, Russia, 26 May 2016. EPA/SERGEI ILNITSKY

IMF says not recanting on neoliberalism, austerity

Jun 03, 2016 - 2:30 PM

Maurice Obstfeld the International Monetary Fund s top economist says an article by 3 other IMF economists was widely misinterpreted

IMF economists question faith in neoliberal doctrine

Jun 01, 2016 - 11:05 AM

Instead of delivering growth some neoliberal policies have increased inequality says 3 economists from the International Monetary Fund

epa04824587 (FILE) A file photo dated 18 May 2011 showing the logo of the International Monetary Fund (IMF) at the entrance of the Headquarters of the IMF, also known as building HQ2, in Washington, DC, USA. Greece will not make the 1.6-billion-euro (1.8-billion-dollar) repayment due 30 June 2015 to the International Monetary Fund unless it strikes a deal in the coming hours with its creditors, Prime Minister Alexis Tsipras said in Athens as the deadline loomed. He implied that his left-wing government would resign if Greeks vote 'yes' in a planned 05 July referendum on a renegotiated bailout. The Greek vote is widely seen as deciding whether the near-bankrupt country stays in the eurozone. No country has left the currency bloc since its founding in 1999. EPA/JIM LO SCALZO

IMF: Greece still at long-term risk despite bailout deal

May 26, 2016 - 2:45 PM

The International Monetary Fund says it cannot add its loans to the bailout as long as there s still no detailed debt relief plan

epa04848890 The Greek flag is binded up with a parcel string to illustrate the topic 'bailout package' in Kaufbeuren, Germany, 16 July 2015. With the ECB having already said 16 July 2015 that it left its benchmark refinancing rate on hold at an historic low of 0.05 per cent, ECB has decided to boost emergency aid - namely the Emergency Liquidity Assistance (ELA) scheme - to Greece's crisis-hit banks after the parliament in Athens agreed overnight to a round of tough reforms. EPA/KARL-JOSEF HILDENBRAND

Greece in debt relief 'breakthrough' with eurozone, IMF

May 25, 2016 - 8:59 AM

UPDATED Analysts warn however that the details of the crucial deal are sketchy

An European Union and Greek flags fly in central Athens on July 4, 2015. Louisa Gouliamaki/AFP/File

IMF: Greece needs 'unconditional' debt relief from EU creditors

May 24, 2016 - 12:50 PM

The International Monetary Fund says creditors should fix interest rates on Greek debt at no more than 1 5

epa05323683 Demonstrators stage a rally in front of the Greek Parliament during a protest in Athens, Greece, 22 May 2016. The demonstration was called by trade unions to oppose an omnibus bill tabled by the government that includes the prior actions required by Greece's lenders to close the program review. EPA/ORESTIS PANAGIOTOU

Greek parliament approves new austerity measures to unlock bailout cash

May 23, 2016 - 12:48 AM

UPDATED The 7 000 page bill that raises the sales tax cap and introduces a contingency mechanism to slash spending further in case of budget overruns is passed thanks to the Syriza led coalition government s slim majority

G7 warns over global economy as currency row flares

May 22, 2016 - 7:00 AM

G7 finance ministers also oppose Britain s possible exit from the European Union as well as vow to clamp down on terrorist financing

epa05318873 Japanese Finance Minister Taro Aso (C) chairs the session one meeting of the G7 Finance Ministers and Central Bank Governors meeting at Akiu in Sendai, Miyai Prefecture, northern Japan, 20 May 2016. The G7 meeting is held 20 and 21 May 2016. EPA/KIMIMASA MAYAMA / POOL

Currency wars, fiscal stimulus rift in focus at G7 meeting

May 18, 2016 - 1:45 PM

Japan believes large scale stimulus spending is the way to spur global growth but Germany and Britain are not keen on the idea

epa04391995 A Tokyo money dealer is waiting for sell calls during trade in Tokyo, Japan, 09 September 2014, as the US dollar rises to the 106 yen low range, more than one yen from the previous day. Japanese finance minister Taro Aso showed on 09 September his concern about recent sharp currency moves of the US dollar, which is hitting the highest level in six years against the Japanese yen. EPA/KIMIMASA MAYAMA

IMF: Iran at 'pivotal moment' to rejoin global economy

May 18, 2016 - 11:30 AM

The IMF s David Lipton urges Tehran to take key steps including measures against money laundering and terror financing

epa05124621 Iranians go shopping at Tehrans old Bazaar, the place where the main economy trades take place, in Tehran, Iran, 25 January 2016. Reports state that Iranian officials expected the Iranian economy to grow on an average of eight percent over the coming five years following the lifting of sanctions against Iran. EPA/ABEDIN TAHERKENAREH

IMF's Lagarde unleashes stark UK economy Brexit warning

May 14, 2016 - 3:00 PM

Frankly in the very vast majority of what we have seen we haven t seen anything that is positive says Christine Lagarde

epa05303505 Christine Lagarde, Managing director of the International Monetary Fund (IMF), speaks during a joint news conference with Britain's Chancellor of the Exchequer George Osborne (unseen), at the H.M. Treasury in London, Britain, 13 May 2016. The IMF capped a week of warnings by heavy-hitting supporters of Britain staying in the European Union, all unanimous in their view of the dire consequences of a so-called Brexit. EPA/LUKE MACGREGOR / POOL