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Greek PM uses leaks to push for bailout sacrifices while transcript saps trust, angers IMF and embarrasses EU.
China called on the International Monetary Fund (IMF) on Wednesday to stick to a commitment to give emerging markets more power at the world body after US lawmakers set back historic reforms meant to give developing countries a greater say.
IT is both saddening and depressing to note the International Monetary Fund's (IMF) admission that it had erred in its handling of the bailout of the Greek economy (StarBizWeek, June 8, 2013). The results of its mishandling is that incomes have plunged by about a third since the debt crisis erupted in 2009, the unemployment rate is at 27% and nearly 60% of youths are unemployed. Surely, one would have thought that the well-schooled officials, bureaucrats and research experts at the IMF would have much more intelligence than to suggest and insist on such obviously ill-thought-out recommendations and proposals. Who takes responsibility for such disastrous consequences pursuant to the IMF's intervention?
Currency Insights - By Suresh Ramanathan
INTERNATIONAL agency reports such as from the International Monetary Fund (IMF) and World Bank is a must read for any economists – it’s a guide that gives a very insightful view on the workings of an economy.
SINGAPORE: The International Monetary Fund (IMF) is impressed with Malaysia’s reforms and is keen to understand more about it – a far cry from the view that the Washington-based agency had on the country 20 years ago.
BRUSSELS: The European Commission has rejected the International Monetary Fund’s (IMF) view that lenders mishandled the first Greek bailout in 2010 by allowing Athens to delay a debt restructuring to 2012.
WASHINGTON: The International Monetary Fund (IMF) is stepping up lending in a region where economic reformers haven’t exactly had the most success.
WASHINGTON: Reforms to the International Monetary Fund (IMF) have hit a deadlock despite a declaration from global financial chiefs that they would move forward without the United States if it fails to ratify the changes by year-end, a G-20 official said.
Christine Lagarde’s nomination as president of the European Central Bank (ECB) takes Mario Draghi a step closer to the end of his term. The Italian academic will step down in October after eight momentous years, during which he made the ECB the most important institution in the monetary union.That doesn’t mean, however, that he should retire from front-line policymaking. A job swap with Lagarde, which would see Draghi become the managing director of the International Monetary Fund (IMF), would be a boon for the global economy.
WASHINGTON: Advanced nations can reduce inequality without necessarily sacrificing growth by shifting more of the income-tax burden onto the rich, according to the International Monetary Fund (IMF).