The International Monetary Fund (IMF) must speed up the management of internal complaints and additionally strengthen internal measures to protect its smooth operation, as the head of the mentioned economic organization, Kristalina Georgieva, said yesterday. She told Reuters she was pleased that the IMF’s comprehensive internal review of data and integrity rules had identified “strong […]
Tag: IMF
K. Georgieva: The head of the IMF ‘does not rule out a global recession’ in 2023
International Monetary Fund (IMF) chief Kristalina Georgieva said today that “severe shadows have fallen” on the outlook for the global economy since April and that she cannot rule out a possible global recession next year, given the heightened risks. Georgieva told Reuters that within the next few weeks the IMF would revise down its forecast […]
A new upgrade of the Greek economy is coming from a major rating agency
By Tasos Dasopoulos Another “surprise” upgrade of the country’s credit, one notch below the minimum investment grade, is expected on Friday, July 8, by the third largest rating agency, the US Fitch. The information reaching Athens in the last few days wants the third largest rating agency to do on Friday what it did not […]
Ghana is reversing course to seek IMF help to shore up its finances
Ghana will begin talks with the International Monetary Fund to support a government economic program, reversing a political decision not to seek aid from the multilateral lender, according to Bloomberg. President Nana Akufo-Addo authorized Finance Minister Ken Ofori-Atta to initiate “formal engagements” after a telephone conversation with IMF Managing Director Kristalina Georgieva, the Ministry of […]
K. Georgieva-USA: ‘Some pain’ is necessary to fight inflation
The head of the International Monetary Fund, Kristalina Georgieva, stressed on Friday the importance of fighting inflation now, in order to support the prospects for future economic growth, warning that such a thing could cause “some pain” to consumers in the short term. “Success over time (in terms of falling prices) will be beneficial to […]
IMF: Manually revises US growth forecast for 2022 and 2023
The International Monetary Fund has revised downwards its growth forecast for the United States amid a sharp rise in interest rates by the Federal Reserve (Fed) but says the United States will avoid a recession “for a while”. In the annual assessment of US economic policy, the IMF estimates that the country’s GDP will grow […]
IMF: The key to debt sustainability and growth is private savings
By Tasos Dasopoulos The IMF considers it necessary to increase the savings (public and private) in Greece by 17% of GDP (approximately 32.62 billion euros) in order for Greece to be in an investment position higher than it had before the outbreak of the 2009 financial crisis . According to a report accompanying the approval […]
Strict warnings about bank profitability – red loans from the IMF
By Leonidas Stergiou As Greek banks consolidate, a sustainable increase in their profitability remains key to further enhancing their resilience. According to an IMF report, two main sources of profitability, namely net interest income and commission income, appear to be highly dependent on the macroeconomic environment. The IMF notes that while profitability is expected to […]
IMF: Greece’s growth at 3.5% this year, slow to 2.6% in 2023
The growth of the Greek economy is expected to remain strong at 3.5% in 2022 despite the negative effects of the war in Ukraine, according to the International Monetary Fund in its latest assessment under Article IV of its statutes released today. High energy prices are expected to raise average inflation to 6.1% in 2022, […]
Pakistan Says IMF Excluded from Bond Markets
The Pakistani government is failing to secure financing from the global bond market and commercial banks, which makes it even more important to secure an agreement with the International Monetary Fund, Finance Minister Miftah Ismail said, according to Bloomberg. Pakistan’s dollar-denominated bonds hit a record low this month after the government raised fuel prices, a […]
