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Yra Harris, partner at Praxis Trading, tells CNBC that the IMF and Jeroen Dijsselbloem's actions have forced ECB president Mario Draghi's hand, so that now he must deliver on his promises.
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*$4.8 billion loan needed to bolster economy in crisis. CAIRO, April 4- Egypt's planning minister said on Thursday the government expects to reach a final agreement with the International Monetary Fund on a $4.8 billion loan within two weeks, the state news agency MENA reported.
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CAIRO, April 4- Egypt's planning minister said on Thursday the government expects to reach a final agreement with the International Monetary Fund over a $4.8 billion loan within two weeks, the state news agency MENA reported. Ashraf al-Araby also said that Cairo had not requested an increase in the amount of the loan, needed to avert a deepening economic crisis.
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CAIRO, April 4- Egypt's planning minister Ashraf al-Araby said on Thursday the government will reach a final agreement with the International Monetary Fund over a $4.8 billion loan within two weeks, the state news agency MENA reported. Araby also said that Egypt has not requested an increase in the amount of the loan.
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Yra Harris, partner at Praxis Trading, tells CNBC that the IMF and Jeroen Dijsselbloem's actions have forced ECB president Mario Draghi's hand, so that now he must deliver on his promises.
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If it fails, international lenders may have to do what they wanted to avoid and which Germany and its northern European allies may baulk at- give Cyprus more money. Nicosia will get 10 billion euros over three years from the euro zone and the International Monetary Fund.
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*Moussa, Abolghar both say Egypt needs the loan. CAIRO, April 2- Egypt predicts a speedy conclusion to talks with the International Monetary Fund on a $4.8 billion loan that will help save its economy from crisis.
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A dramatic shift in how energy is being produced and consumed around the world could lead to far-reaching changes in the geopolitical order.
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The cash shortage is raising questions about Egypt’s ability to keep importing wheat that is essential to the food supply, stirring fears of an economic catastrophe.
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WASHINGTON, March 28- Lithuania has done a good job of recovering from the 2008-2009 economic crisis and has taken impressive steps to consolidate public finances, but should focus future fiscal adjustments on raising more revenue, the IMF said on Thursday.
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WASHINGTON, March 28- The International Monetary Fund said on Thursday it would visit Egypt in the "first days of April" for talks with the government on a possible financing programme worth $4.8 billion. In Cairo, government spokesman Alaa El Hadidi said the IMF would return "some time next week".
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*West African state rebounding from decade of turmoil. ABIDJAN, March 27- The International Monetary Fund sees economic growth in top cocoa grower Ivory Coast reaching 8 percent in 2013, up from a previous forecast of 7 percent, a senior Fund official said on Wednesday.
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ABIDJAN, March 27- The International Monetary Fund sees economic growth in top cocoa grower Ivory Coast reaching 8 percent in 2013, up from a previous forecast of 7 percent, a senior Fund official said on Wednesday.
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WASHINGTON, March 27- Developing and industrialized countries should rein in energy subsidies that totaled $1.9 trillion in 2011 to ease budgetary pressures and free up resources for public spending in areas such as education and health care, International Monetary Fund economists said in a research paper published on Wednesday.
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Leaders of the five BRICS nations plan to create a development bank in a direct challenge to the World Bank that they accuse of Western bias. The bank would use $50 billion of seed capital shared equally but dominated by China.
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MILAN, March 26- Italy's banking sector is well capitalised but still faces risks because of a prolonged recession and exposure to sovereign debt, the International Monetary Fund said on Tuesday.
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MILAN, March 26- Increasing provisions for bad loans and developing a market to dispose of impaired assets would shore up the defences of Italian banks, the International Monetary Fund said on Tuesday.
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ROME, March 26- The IMF is due to issue a statement later on Tuesday of findings from an assessment of Italy's financial system conducted in January and will express a largely positive view of the banking system, two people close to the situation said.
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LONDON, March 25- Major central banks could become too powerful if they are given far-reaching new powers but remain fully independent from politics, Olivier Blanchard, the chief economist of the International Monetary Fund, said on Monday.
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LONDON, March 25- Major central banks could become too powerful if they are given far-reaching new powers but remain fully independent from politics, the International Monetary Fund's chief economist Olivier Blanchard, said on Monday.
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The agreement came hours before a deadline to avert a collapse of the banking system in fraught negotiations between President Nicos Anastasiades and heads of the European Union, the European Central Bank and the International Monetary Fund.