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Economy 15 Jan 2014 | 5:48 PM

China urges IMF to give more power to emerging markets

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.

Business 15 Jun 2013 | 1:55 PM

IMF incompetence

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?

Business 07 Jun 2013 | 12:00 AM

EC, IMF at odds over timing of Greek debt restructuring

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.

Business 15 Aug 2016 | 12:00 AM

IMF steps deeper into Mideast cauldron with loan to Egypt

WASHINGTON: The International Monetary Fund (IMF) is stepping up lending in a region where economic reformers haven’t exactly had the most success.

Business 14 Apr 2014 | 12:00 AM

Reforms to IMF hit deadlock

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.

Business 05 Jul 2019 | 12:00 AM

Draghi should replace Lagarde at the IMF

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.

Business 13 Oct 2017 | 12:00 AM

Raising taxes on rich won’t necessarily curb growth, says IMF

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).

Business 12 Apr 2014 | 12:00 AM

World Bank, IMF meetings in the spotlight

APRIL is the best month to visit Washington DC, and this weekend marks both the peak blooming of the beautiful cherry blossoms of 1,700 trees first planted 100 years ago, and the World Bank/International Monetary Fund (IMF) spring meetings.

Business 06 Jun 2019 | 9:34 AM

IMF sees euro as undervalued, ECB policy support necessary

BRUSSELS: The International Monetary Fund believes the European Central Bank must maintain supportive monetary policy, an EU document seen by Reuters showed, anticipating the content of a report the IMF will present to euro zone finance ministers next week.

Economy 10 May 2017 | 12:00 AM

IMF says Asia facing risks from rise in protectionism

SINGAPORE: The International Monetary Fund (IMF) said Asia’s economic outlook faces “significant” uncertainty and downside growth risks from any sudden tightening in global financial conditions or rise in protectionist trade policies.