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. The International Monetary Fund has resurrected an old technique – commonly used in the 1980s during the Latin American debt crisis – that would allow Greece to avoid a payment default next month on debt owed to European creditors. ... [Read full article on Guardian ]
Thursday 22nd of June 2017 08:29:31 AM
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Latest Finance News related to International Monetary Fund

Greek debt: IMF and EU's quick fix isn't enough | Mohamed El-Erian image
Source : Guardian [Read Article] Thursday 22nd of June 2017 08:29:31 AM
. The International Monetary Fund has resurrected an old technique – commonly used in the 1980s during the Latin American debt crisis – that would allow Greece to avoid a payment default next month on debt owed to European creditors. ...
BIS warns rolling back globalisation would be ‘detrimental’ image
Source : Guardian [Read Article] Sunday 18th of June 2017 05:41:55 PM
....”. The strong backing for globalisation echoes pleas from the International Monetary Fund and the Organisation for Economic Co-operation and Development not to move towards more inward-looking policies. ...
Creditors agree terms to disburse Greece's €8.5bn bailout funds image
Source : Guardian [Read Article] Friday 16th of June 2017 12:05:16 AM
....4bn) of bailout funds aimed at putting the debt-stricken nation back on the road to recovery. The money, signed off after months of disagreement between the European Union and International Monetary Fund over how to reduce Athens’ staggering debt pile, will be released in July, once European parliaments ratify the deal. ...
Greek bailout funds on the cards as creditors narrow differences image
Source : Guardian [Read Article] Thursday 15th of June 2017 05:25:49 PM
.... That amount would exceed earlier proposals. After months of delay, the eurozone indicated it was ready to release the funds, as the International Monetary Fund appeared to back down over its refusal to get involved – a point that had blocked further loans. ...
Theresa May's election victory will prove pyrrhic indeed image
Source : Guardian [Read Article] Sunday 11th of June 2017 01:25:35 PM
.... It was Labour that had to deal with the 25%-plus inflation unleashed by the quadrupling of global oil prices during the Yom Kippur war. It was Labour that had to call in the International Monetary Fund for an emergency loan in 1976, and it was Labour that was in power during the winter of discontent. ...
The global economy can recover faster if we avoid the obvious pifalls | Nouriel Roubini image
.... In fact, in the months before the US election last November, the global economy entered a new period of expansion – albeit one in which advanced and emerging-market economies’ potential growth remained low. We may still be living in what the International Monetary Fund calls the new mediocre – or what the Chinese call the new normal – of low potential growth. ...
Ireland set to sell 25% of Allied Irish Banks image
Source : BBC [Read Article] Wednesday 31st of May 2017 10:46:21 AM
.... . The financial crisis, which triggered a property collapse in Ireland, cost the Irish government 64bn euros in bank bailouts and forced it to seek support from the European Union and the International Monetary Fund. ...
Would a four-day week work? image
Source : BBC [Read Article] Wednesday 31st of May 2017 09:13:12 AM
.... It is likely that its more restrictive labour laws have meant that companies have invested more in machinery to reduce the number of people they need. Also, a working paper from the International Monetary Fund suggested that the 35-hour week in France had reduced employment and not made workers any happier. ...
Greece warns recovery threatened if debt deal is blocked at next talks image
....”. Athens, Tsakalotos continued, had kept its side of the bargain, legislating highly unpopular reforms to produce savings of 2% of GDP, while the European Union and International Monetary Fund had not kept theirs. ...
Greek minister warns 'no excuses' on bailout deal image
Source : BBC [Read Article] Monday 29th of May 2017 06:28:57 PM
....Mr Tsakalotos said the government "had done its part of what it promised". A deal is reported to be held up because The International Monetary Fund and Germany are at odds over how to help ease Greece's debts once its rescue programme ends next year. ...
Sky-high carbon tax needed to avoid climate catastrophe, say experts image
....A tax of $100 a tonne would be needed by 2030 as one of a series of measures to prevent a rise in global temperatures of 2C. In a report by the High Level Commission on Carbon Prices, which is backed by the World Bank and the International Monetary Fund, they suggest poor countries could aim for a lower tax since their economies are more vulnerable. ...
Mongolia gets financial aid totalling $5.5bn from IMF image
Source : BBC [Read Article] Thursday 25th of May 2017 04:51:17 AM
....The donors' programme will also look at how agribusiness and tourism sectors could contribute to economic growth. The three-year arrangement, led by the International Monetary Fund (IMF), also involves the World Bank plus Asian neighbours Japan, Korea and China. ...
Former Anglo Irish chair Seán Fitzpatrick walks free as trial collapses image
....The chair of the bank that almost bankrupted Ireland has walked free from a Dublin court after being acquitted of misleading auditors about multimillion-euro loans. Seán Fitzpatrick was once head of the country’s biggest bank, Anglo Irish, which ended up requiring a €30bn (£26bn) government bailout and sent the country cap in hand to the International Monetary Fund for support. ...
The economy is stagnant because people fear for the future | Robert Shiller image
....The fact that people are willing to tie up their money for 10 years at such low rates suggests that there has been a long trend towards pessimism, reflected in the recent popularity of the term “secular stagnation” to describe a perpetually weak economy. After former US Treasury secretary Lawrence Summers used the term in a November 2013 speech at the International Monetary Fund, the New York Times columnist Paul Krugman picked it up, and it went viral from there. ...
No bailout funds for Greece as eurozone finance chiefs fail to agree deal image
....Eurozone finance ministers have failed to agree a debt relief plan for Greece, raising the prospect of a summer crisis for the single currency bloc if Athens misses a loan repayment. A meeting of the eurozone’s 19 finance ministers broke up late on Monday night, amid a row with the International Monetary Fund about Greece’s debt burden. ...
Greece fails to secure fresh bailout funds image
Source : BBC [Read Article] Monday 22nd of May 2017 11:40:41 PM
....To secure the funds, the country has had to enact a series of economic reforms. The International Monetary Fund and Germany are reported to have disagreed over how to help ease the country's debts once its rescue programme ends next year. ...
Reality Check: How does government borrowing compare? image
Source : BBC [Read Article] Monday 22nd of May 2017 01:48:26 PM
....Even that is not necessarily a fair comparison. For example, there was a big fall in debt as a proportion of GDP after 1976, despite Jim Callaghan's government going to the International Monetary Fund for a big loan. ...
Labour gambles on tax and spend – but will the public back it? | Larry Elliott image
....Labour believes that the failure of the Conservatives to get the budget deficit down despite year after year of austerity has made it possible to make the case for a different approach under which McDonnell would take advantage of low interest rates to borrow to invest. The economic case for higher spending on infrastructure projects has been made by bodies as august as the International Monetary Fund. ...
Is Labour's manifesto living in fantasy land? Quite the opposite | Larry Elliott image
.... Austerity has been tested to destruction, with both deficit reduction and growth much weaker than envisaged. There is a strong case, as the International Monetary Fund has noted, for countries to borrow to invest in infrastructure, especially when they can do so at today’s low interest rates. ...
Mohamed El-Erian: ‘We get signals that the system is under enormous stress’ image
.... His daughter, when she was 13, handed him a 22-item list of key moments in her life he had missed. He was educated in the UK, at Cambridge and Oxford universities, and began his career at the International Monetary Fund. ...
The German economy is unbalanced – but Trump has the wrong answer image
.... One answer is to get out of Trump’s sights. A better answer, offered by the International Monetary Fund, is that doing so would be good for a world economy in which investment is in short supply, as evidenced by record-low interest rates. ...
Why the global markets are ignoring the global turmoil | Nouriel Roubini image
....• Nouriel Roubini is a professor at NYU’s Stern School of Business. He was a senior economist for international affairs in the Clinton White House and has worked for the International Monetary Fund, the Federal Reserve and the World Bank. ...
Greece will avoid default after bailout deal – but faces more austerity image
....”. The International Monetary Fund, which has argued vociferously that Greece’s debt load is unsustainable and has balked at even joining the latest bailout programme, hinted that it could soon sign up to it. ...
Greece makes preliminary agreement with creditors image
Source : BBC [Read Article] Tuesday 2nd of May 2017 11:41:08 AM
....8bn; 6. 9bn euros) to its eurozone lenders and the International Monetary Fund in July. ...
Greece reaches deal with creditors to pave way for bailout talks image
Source : Guardian [Read Article] Tuesday 2nd of May 2017 04:59:34 AM
....6bn) in July. Under pressure from its creditors – the European Union, European Central Bank and the International Monetary Fund – the government agreed earlier this month to adopt another €3. ...
German finance minister hails progress in Greek economic reforms image
Source : Guardian [Read Article] Sunday 30th of April 2017 04:21:39 PM
....In return for emergency funds, Alexis Tsipras’s leftwing government in Greece has agreed to swallow austerity demands but his popularity ratings have suffered as a result. Despite pressure from Germany, the International Monetary Fund has so far declined to join other international lenders – the European Central Bank and the European Union – in funding Greece’s third bailout, worth €86bn. ...
Good and bad news from an economy in uncharted territory image
Source : Guardian [Read Article] Saturday 29th of April 2017 03:00:02 PM
.... But ultimately, a share index populated by big international mining companies, pharmaceutical giants and banks tells you little about the UK economy. House prices are steadyAmong the dramatic predictions made for the UK ahead of last year’s referendum, the International Monetary Fund warned that a vote to leave the EU could spark a property market crash. ...
Brexit economy: living standards are falling as the snap election looms image
Source : Guardian [Read Article] Tuesday 25th of April 2017 10:38:58 AM
....The economy appears to have lost momentum but has comfortably avoided the recession some had predicted in the wake of the Brexit vote. Last week, the International Monetary Fund was forced to admit yet again that it had been too gloomy on the consequences of the Brexit vote as it revised up its UK growth forecast for the second time in three months. ...
Could the IMF's 'world currency' help encourage global unity? | Mohamed El-Erian image
.... After all, lest we forget, the current arrangements – as pressured as they are – reflected our post-world war two forebears’ strong desire to minimise the risk of “beggar-thy-neighbour” national policies, which had crippled growth, prosperity and global stability in the 1930s. Similar considerations fuelled the launch, nearly 50 years ago, of the International Monetary Fund’s special drawing right as the precursor to a global currency. ...
IMF meeting drops anti-protectionism pledge image
Source : BBC [Read Article] Sunday 23rd of April 2017 09:58:15 AM
....The administration is aggressively pursuing an "America First" policy. Earlier in the week the International Monetary Fund (IMF) had warned that protectionist policies could choke off improving global growth. ...
Lloyds bank bailout repaid in full, says Philip Hammond image
Source : Guardian [Read Article] Friday 21st of April 2017 05:00:20 PM
....Just days after admitting that the taxpayer faced multibillion-pound losses on its stake in Royal Bank of Scotland, Philip Hammond said the government had now “recovered every penny of its investment in Lloyds”. Speaking on the sidelines of the International Monetary Fund meeting in Washington on Friday, Hammond said the government was “not in the business of owning banks” and on the brink of selling off the last of its stake. ...
Protectionism is rising the world over. Our best defense is fighting inequality | Wally Adeyemo image
....The best defense of multilateralism and the rules-based order is a good offense. Addressing inequality and updating the rules of the global economy to reflect the needs of the 21st century must guide the agenda for this week’s International Monetary Fund (IMF) and World Bank spring meetings. ...
World Bank chief echoes Bill Gates's warning to Theresa May on aid image
Source : Guardian [Read Article] Thursday 20th of April 2017 05:22:34 PM
.... “We were extremely encouraged when prime minister David Cameron fulfilled the commitment to 0. 7%,” Kim said at a press conference to mark the opening of the spring meetings of the Bank and the International Monetary Fund. ...
Presidential challenge image
Source : BBC [Read Article] Thursday 20th of April 2017 03:10:40 PM
IMF says global financial stability has improved image
Source : BBC [Read Article] Wednesday 19th of April 2017 12:31:28 PM
Brexit’s unpredictable outcome poses risk to global stability, says IMF image
Source : Guardian [Read Article] Wednesday 19th of April 2017 12:30:21 PM
. The International Monetary Fund has warned that Brexit’s unpredictable outcome poses a risk to global financial stability at a time when it is already challenged by heavily-indebted US corporations, China’s credit bubble and weak European banks. ...
IMF ratchets up UK economic growth forecast to 2% image
Source : Guardian [Read Article] Tuesday 18th of April 2017 01:00:29 PM
. The International Monetary Fund has revised up its UK growth forecast for the second time in three months after admitting that the performance of the economy since the Brexit vote last year had been stronger than expected. ...
Higher interest rates. Great idea. Here’s why it won’t happen image
Source : Guardian [Read Article] Saturday 15th of April 2017 04:00:06 PM
....They argue that higher interest rates will restore a lost balance in the economy – taking it back to the way it was before the financial crisis, when things were so much better. And why wouldn’t they? Plenty of mainstream economists express the same concerns, including policymakers at the Bank of England, the International Monetary Fund, the OECD and the World Bank. ...
Trump's trade barriers would be self-inflicted wound, says IMF chief image
Source : Guardian [Read Article] Wednesday 12th of April 2017 10:15:57 AM
. The managing director of the International Monetary Fund has delivered one of her strongest condemnations of the protectionist policies of Donald Trump, warning that putting up barriers to trade would be a “self-inflicted wound” to an improving global economy. ...
The money machine: how a high-profile corruption investigation fell apart image
Source : Guardian [Read Article] Wednesday 12th of April 2017 05:00:26 AM
....The allegation was part of a long and damning speech, in which he laid out just how little Ukraine had reformed its law enforcement bodies, something that makes recovering the millions stashed overseas unlikely if not impossible. Ukraine’s national finances are currently dependent on the International Monetary Fund, where the dominant voice belongs to the United States. ...
Free trade warning – IMF, WTO and World Bank say it must be defended image
. Fears that Donald Trump’s arrival in the White House is threatening a new era of protectionism have prompted a joint defence of trade from the International Monetary Fund, the World Bank and the World Trade Organisation. ...
Ukraine's central bank chief resigns image
Source : BBC [Read Article] Monday 10th of April 2017 10:46:19 AM
....The 52-year old is credited with allowing the local currency, the hryvnia, to find its own level, a move that saved the central bank from running out of money. However, that move, undertaken on the advice of the International Monetary Fund, also cut the value of people's savings and introduced soaring inflation. ...
Greek gloom as economy stalls amid latest bout of EU wrangling image
Source : Guardian [Read Article] Saturday 8th of April 2017 03:00:05 PM
.... Once again, promises of reducing the country’s staggering debt pile – at 180% of GDP, the biggest impediment to real economic recovery – will have to wait. The International Monetary Fund, which has steadfastly refused to finance the latest bailout until meaningful debt forgiveness is assured, repeated that without “a credible strategy” it would be unable to even present the programme to its own board. ...
Greece agrees basic terms to unlock delayed bailout image
Source : BBC [Read Article] Friday 7th of April 2017 03:14:32 PM
.... . The International Monetary Fund has long argued that Greece needs more debt relief. ...
Will populist leaders stifle the global recovery – or vice versa? image
Source : Guardian [Read Article] Tuesday 4th of April 2017 03:32:12 PM
....But will the populist tide surging across the advanced economies drown the accelerating recovery? Or will the recovery stifle leaders who confidently espouse seductively simple solutions to genuinely complex problems?. With the International Monetary Fund/World Bank meetings coming up later this month in Washington, DC, leading central bankers and finance ministers will have ringside seats at Ground Zero. ...
Global productivity slowdown risks creating instability, warns IMF image
Source : Guardian [Read Article] Monday 3rd of April 2017 05:56:41 PM
. The head of the International Monetary Fund has issued a stark warning that living standards will fall around the world unless governments take urgent action to increase productivity by investing in education, cutting red tape and incentivising research and development. ...
Deutsche Bank cuts staff bonuses image
Source : BBC [Read Article] Monday 20th of March 2017 09:25:46 AM
....Persistent low interest rates are another element of the tougher climate for banks, as it is far more difficult to make a profit when the difference between borrowing and deposit rates is so small. Deutsche Bank, which last year was deemed the riskiest bank in the world by the International Monetary Fund for its global interconnectedness and weakness, has been slower than rivals to take action to recover from the financial crisis of 2008, giving it less strength to ride the weak business banking climate. ...
Letter bomb that exploded at Paris IMF office was sent from Greece image
Source : Guardian [Read Article] Thursday 16th of March 2017 11:48:58 AM
. A letter bomb that was dispatched to the headquarters of the International Monetary Fund (IMF) in Paris and blew up on Thursday, injuring the employee who opened it, was sent from Greece, the Greek public order minister has said. ...
UK economy will grow more strongly than expected, says BCC image
Source : Guardian [Read Article] Tuesday 14th of March 2017 07:01:15 AM
....The BCC joined other bodies in raising its outlook for the UK’s GDP growth this year after a stronger-than-expected close to 2016 and signs of resilience to the Brexit vote among businesses and consumers. But it remains more pessimistic than other forecasters such as the Bank of England and the International Monetary Fund. ...
US interest rate rise to deepen debt crisis in developing world image
Source : Guardian [Read Article] Monday 13th of March 2017 07:00:26 AM
....“The rapid increase in debt payments in many countries comes after a boom in lending, a fall in commodity prices, the rising value of the US dollar and now increasing dollar interest rates,” said Jones. He warned there was a danger that loans from the International Monetary Fund (IMF) and other lenders would be used to bail out “reckless lenders” who were at risk of not getting repayments from crisis-hit countries. ...
Iceland to end capital controls from 2008 financial crisis image
Source : BBC [Read Article] Sunday 12th of March 2017 03:14:37 PM
....". Capital controls were implemented in 2008, with the support of the International Monetary Fund (IMF), to shield the economy from severe depreciation. ...
Former IMF chief gets four years in jail for embezzlement in Spain image
Source : Guardian [Read Article] Thursday 23rd of February 2017 04:40:36 PM
. The former International Monetary Fund chief Rodrigo Rato has been sentenced to four-and-a-half years in prison for misusing corporate credit cards while in charge of two leading Spanish banks at the height of the country’s financial crisis. ...
Ex-IMF chief Rodrigo Rato gets 4.5 years for embezzlement image
Source : BBC [Read Article] Thursday 23rd of February 2017 04:05:42 PM
....Rato resigned as head of Bankia shortly before its near-collapse in 2012. He led the International Monetary Fund in 2004-07. ...
Germany overtakes UK as fastest-growing G7 economy image
Source : Guardian [Read Article] Thursday 23rd of February 2017 03:21:32 PM
.... It was fuelled by domestic demand as government and consumer spending rose. Germany proved the International Monetary Fund wrong, after the Washington-based fund predicted the UK would outpace its G7 peers. ...
Greek debt: will EU and IMF finally offer light at the end of the tunnel? image
Source : Guardian [Read Article] Wednesday 22nd of February 2017 07:00:27 AM
....Knocked off the front pages by Brexit and Donald Trump, Greece is back on the agenda. The country’s two most important creditors will meet in Berlin on Wednesday when the German chancellor, Angela Merkel, hosts the head of the International Monetary Fund, Christine Lagarde. ...
We are unlikely to spot next financial crisis, Bank of England official says image
....Vlieghe, a former City economist, was answering criticisms from MPs on the Treasury select committee over a series of forecasting errors in the run-up to the Brexit vote. Like the Treasury, the International Monetary Fund and the Organisation for Economic Cooperation and Development (OECD), Threadneedle Street predicted a sharp slowdown in the event of a vote to leave the EU. ...
Greece standoff over €86bn bailout eases after Brussels deal image
Source : Guardian [Read Article] Monday 20th of February 2017 07:44:42 PM
....His government agreed at a meeting of eurozone finance ministers on Monday to talks on big economic reforms in exchange for progress on releasing the next instalment of bailout funds. In return, Europe signalled a winding back of austerity measures for the struggling nation, in a move that could end a dispute between EU creditors and the International Monetary Fund over how to deal with Greece. ...
‘From bad to worse’: Greece hurtles towards a final reckoning image
Source : Guardian [Read Article] Sunday 19th of February 2017 12:05:16 AM
....As Greece hurtles towards another full-blown confrontation with the creditors keeping it afloat, and as tensions over stalled bailout negotiations mount, it is a question many are asking. The country’s epic struggle to avert bankruptcy should have been settled when Athens received €110bn in aid – the biggest financial rescue programme in global history – from the EU and International Monetary Fund in May 2010. ...
Trump's changed stance on Nato, will he sober up about IMF and WTO? | Barry Eichengreen image
.... Even a president committed to putting “America first” now seems to recognise that a framework through which countries can pursue shared goals is not a bad thing. The question now is whether what is true for Nato is also true for the International Monetary Fund, the World Bank, the World Trade Organisation, and the Basel committee on banking supervision. ...
Greece defies creditors over more cuts as economy shrinks unexpectedly image
Source : Guardian [Read Article] Tuesday 14th of February 2017 07:57:17 PM
....The setback came as prime minister Alexis Tsipras’ lefist-led coalition said it would not consent to additional austerity beyond the cuts the country had already agreed to administer under its third, EU-led bailout programme. Speaking on state TV, the digital policy minister Nikos Pappas, Tsipras’ closest confidant, insisted that ongoing differences between the EU and International Monetary Fund over how to put the debt-stricken state back on the road to recovery were squarely to blame for the failure to conclude a compliance review at the heart of the standoff. ...
Utopian thinking: the eclipse of neoliberalism heralds a new dawn of sharing | Minna Salami image
.... But it is not only those you would expect to be critical of neoliberalism who are opposing it. Even organisations such as the International Monetary Fund, a champion of neoliberalism if ever there was one, openly question it too. ...
Calling the latest Greek deal a sticking plaster does disrespect to the Elastoplast image
....The Germans, who have called the shots during the five years of rolling Greek crises, with the Dutch for allies, have long argued that pension cuts must come before cash handouts. The International Monetary Fund, which has tagged along with the EU for all that time, has recently drawn away from the hardline EU commission. ...
Greece hopeful of imminent EU debt  deal     despite German warning image
Source : Guardian [Read Article] Thursday 9th of February 2017 07:53:55 PM
....The Greek government has expressed hope of an imminent deal with its EU creditors, despite a warning from the German finance minister, Wolfgang Schäuble, that the country could cut its debts only by leaving the single currency. Athens is in a familiar stand-off with the German finance ministry as it seeks easier repayment terms on its €330bn (£280bn) debt pile, which the International Monetary Fund has described as unsustainable and explosive. ...
Bank of England appoints Charlotte Hogg as deputy governor image
Source : Guardian [Read Article] Thursday 9th of February 2017 05:57:26 PM
....Carney said: “Many of the top priorities in markets and banking currently coincide with those of the Bank’s central operational areas, meaning Charlotte is the ideal person to lead these efforts … her breadth of financial sector and operational experience will contribute valuable, broader perspectives to the Bank’s policy committees”. Although Hogg lacks Shafik’s international connections at organisations such as the International Monetary Fund, the privately-educated, Oxford graduate will wield considerable experience of the domestic financial sector when she takes up her new position at the end of the month. ...
Devil-may-care investors fall under spell of Trump-mania image
Source : Guardian [Read Article] Thursday 9th of February 2017 02:31:01 PM
....As protesters take to the streets of Athens, the blame game among those who have imposed debilitating austerity on Greece is hotting up. The International Monetary Fund aimed the first punch, arguing that the beleaguered nation had taken enough punishment. ...
Trump envoy says Greece is now more likely to leave the euro image
Source : Guardian [Read Article] Wednesday 8th of February 2017 03:10:19 PM
....Malloch made his comments as financial markets began to take fright at the possibility of a fresh Greek debt crisis later this year. Shares fell and interest rates on Greek debt rose after it emerged that the EU was at loggerheads with the International Monetary Fund (IMF) over whether to give the country more generous debt relief. ...
Greece's debt costs rise sharply as worries grow over IMF role image
Source : Guardian [Read Article] Tuesday 7th of February 2017 06:26:16 PM
....8%, the highest close since November. The renewed focus on Greece’s debts came as the International Monetary Fund revealed its board was split over how far spending cuts in the country should go, raising fresh doubts over its participation in rescue plans for the struggling Greek economy. ...
Greek debt crisis: an existentialist drama with no good end in sight | Larry Elliott image
.... It is currently on its third bailout. Up until now the money has been provided by Europe and the International Monetary Fund and it has come with strings attached. ...
Grexit? Greece again on the brink as debt crisis threatens break with EU image
Source : Guardian [Read Article] Friday 3rd of February 2017 02:36:32 PM
....The impasse has turned into a standoff as creditors demand additional austerity once the current bailout expires. Without further reduction of pensions – already cut 12 times since the crisis began – and the tax-free threshold of personal incomes, the International Monetary Fund (IMF) argues, the debt-stricken country will never be able to achieve its agreed fiscal goal of a primary surplus of 3. ...
Saudi Arabia signals end of tax-free living as oil revenues slump image
Source : Guardian [Read Article] Tuesday 31st of January 2017 01:51:14 AM
.... “A royal decree has been prepared,” it said. The move is in line with an International Monetary Fund recommendation for Gulf states to impose revenue-raising measures including excise and value-added taxes to help their adjustment to lower crude prices which have slowed regional growth. ...
Retreat from globalisation will destabilise the world economy | Mohamed El-Erian image
....The advanced economies’ final key advantage is voting power and representation. They command either veto power or a blocking minority in the Bretton Woods institutions (the International Monetary Fund and the World Bank), which gives them a disproportionate influence on the rules and practices that govern the international economic and monetary system. ...
Greece has three weeks to deal with 'potentially disastrous' debt image
Source : Guardian [Read Article] Sunday 29th of January 2017 07:07:40 PM
....Faced with the dilemma of agreeing to additional austerity or calling fresh elections, prime minister Alexis Tsipras was weighing his options at the weekend. Fears of further uncertainty in Europe’s weakest member state mounted as the International Monetary Fund (IMF) predicted that Greece’s debt load could become “explosive” by 2030. ...

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