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Business

IMF: Ringgit peg ‘not substantially misaligned’

MALAYSIA's ringgit peg is 'not substantially misaligned' despite the US dollar's fall, the International Monetary Fund (IMF) said Thursday, backing official and manufacturers' views supporting the peg.

Nation

Terengganu BN to use amicable approach, says MB

THE Barisan Nasional-led government in Terengganu has given an assurance that it would not 'take revenge' but instead it would use the amicable approach in its administration, I>Berita Harian /I>reported.

Business

Race for new IMF chief intensifies

The race to lead the International Monetary Fund (IMF) intensified on Monday as France and Germany reached a tentative deal to back Frenchman Jean Lemierre, a pact sources said has Washington's blessing.

Business

US$30 oil props up Opec nations as reforms stagnate

Five years into an oil price boom, social tensions and growing populations mean Organisation of Petroleum Exporting Countries (Opec) states need to invest more heavily, but public sector spending is eroding the windfall and storing problems for the future.

Letters

An election that may not occur

This is election year for many countries around the world. At the International Monetary Fund, there now should also be a democratic and open process to select a new managing director after the last one suddenly left. But to the dismay of many, the new chief will likely emerge from back-room deals of rich countries.

Business

China's economy grew 9.7% in first quarter

China said Thursday its economy grew by 9.7 percent in the first three months of this year, beating expectations and fueling worries about possible inflation.

Business

US budget deficit threatens recovery, say IMF and OECD

The US government's budget deficit came under fire on Wednesday from two global institutions saying a plan to halve the record gap by 2009 may not be enough to stop long-term damage to the world economy.

Business

IMF warns US to gird world for higher rates

The International Monetary Fund will warn the US Federal Reserve this week that it needs to prepare the world economy for higher interest rates, the I>Financial Times/Ireported yesterday, after obtaining a draft chapter of a key IMF report.

Business

IMF: S’pore should consider tighter policy

Singapore is enjoying a powerful economic rebound and should consider tightening its easy monetary policy as the recovery takes hold, the International Monetary Fund said on Monday.

Business

Selection of new IMF MD could come next week

The International Monetary Fund said it could vote as soon as next week on the nomination of former Spanish Finance Minister Rodrigo Rato to be the new managing director of the 184-nation lending organisation.