International Organizations IMF

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  • AMMAN, Jordan— The International Monetary Fund said Thursday that it is lending $5.4 billion over three years to cash-strapped Iraq, which has been hit hard by a sharp drop in oil prices. In exchange, Iraq is being asked to reduce public spending, improve collection of tax and customs revenues and fight corruption and money laundering, said Christian Josz, head of...

  • BRUSSELS, May 18- The euro zone and International Monetary are struggling with Greece's debt crisis- not with Athens this time, but with each other over when to give Greece a break on its future massive debt repayments. The euro zone has begun talks on debt relief for Greece but wants to postpone the final decision until 2018; the IMF insists Greek debt repayment is...

  • DUBAI, May 19- The International Monetary Fund backed Saudi Arabia's sweeping economic reform plan on Thursday and said the kingdom was cutting spending at the right speed to cope with a huge state budget deficit caused by low oil prices. The IMF had for years been urging Saudi Arabia to adopt many of those measures, and in a statement on Thursday it said the reform...

  • KINSHASA, May 17- Democratic Republic of Congo will seek between $250 million and $500 million in budgetary support from the World Bank this year, pending a review of its economy by the International Monetary Fund next month, the government said on Tuesday. The support would allow the central bank to boost its foreign currency reserves, which have fallen from...

  • TEHRAN, Iran— A senior International Monetary Fund official says Iran must deal with a shift to lower crude prices and cannot count on a big jump in oil revenue as it looks to boost production and better integrate with the global economy. First Deputy Managing Director David Lipton made the remarks Tuesday during a visit to Iran's Central Bank.

  • Eurozone finance ministers are due to meet next Tuesday, May 24 to discuss whether Greece has made enough progress on reforms required under its third international bailout for more rescue loan funds to be released. Negotiations with the International Monetary Fund, European Central Bank, European Stability Mechanism and European Commission reviewing...

  • MOSCOW— Russia says it won't support a much-needed International Monetary Fund aid package for Ukraine unless it stipulates a debt repayment to Russia. Ukraine says it will not return $3 billion to Russia that a previous government borrowed in 2013 because Moscow refuses to agree to terms already accepted by other international creditors.

  • ABUJA/ WASHINGTON, May 15- Nigeria's central bank denied a report that it planned to devalue the naira, while the International Monetary Fund reiterated that Nigeria would benefit from a more flexible exchange rate but said no request for funds had been made. Hours earlier, Nigeria had cut petrol subsidies, lifting pump prices by up to 67 percent, a move the IMF...

  • LONDON, May 13- The Bank of England may need to call on other central banks for foreign currency if Britain's referendum on European Union membership hits the world's biggest currency trading centre, the International Monetary Fund said on Friday. "The Bank of England has appropriately announced plans to hold additional liquidity auctions in the weeks around...

  • LONDON, May 13- The Bank of England may need to call on other central banks for foreign currencies if fears over Britain's referendum on European Union membership hit the world's biggest currency trading centre, the International Monetary Fund said on Friday. "The Bank of England has appropriately announced plans to hold additional liquidity auctions in the...

  • LONDON, May 13- International Monetary Fund chief Christine Lagarde said on Friday there were no economic positives to Britain leaving the European Union and that the impact would range from "pretty bad to very, very bad." Her blunt warning came as the IMF said the country risks falling into a spiral of weaker economic growth, lower house prices and diminished...

  • LONDON, May 13- The hit to Britain's economy if it votes to leave the European Union would range from "pretty bad, to very, very bad", International Monetary Fund Managing Director Christine Lagarde said on Friday. "Depending on what hypotheticals you take, it's going to be pretty bad to very, very bad," Lagarde said at a press conference in London. Earlier, the IMF said...

  • LONDON, May 13- The International Monetary Fund said Britain risks falling into a self-reinforcing cycle of weaker economic growth and lower house and share prices if voters opt to leave the European Union next month. A sudden stop in investment into key sectors of the economy such as commercial real estate and finance could exacerbate Britain's record-high...

  • LONDON— London's status as a global financial center could be eroded should Britain vote to leave the European Union in a June 23 referendum, the International Monetary Fund warned Friday. Such rights are critical for Britain, because so much of its economy is based on services, particularly in financial fields like accounting, banking and tax consultancy.

  • LONDON, May 13- The International Monetary Fund said Britain risks falling into a self-reinforcing cycle of weaker economic growth and lower house and share prices if voters opt to leave the European Union next month. On Thursday, the Bank of England said Britain's economy would slow sharply, and possibly enter a brief recession, after a vote to leave the EU.

  • LAGOS, May 11- Nigeria is counting on foreign investment to help diversify its oil-dependent economy. Fears its naira currency is overvalued have deterred many investors, but some, including China, see its fast-rising population as a powerful long-term draw. The International Monetary Fund has recommended a more flexible exchange rate but the 73- year-old...

  • The United States has for years called for Germany and other countries with current account surpluses to do more to boost lacklustre domestic demand. The Organisation for Economic Cooperation and Development and the International Monetary Fund have also urged Germany to step up public and private investment in infrastructure to reduce its current...

  • LONDON, May 10- Greece's 10- year bond yields fell below 8 percent for the first time in over six months on Tuesday after euro zone finance ministers offered debt relief to the country from 2018.. In what appears to be a compromise between Germany, which does not believe Greece needs additional debt relief, and the International Monetary Fund, which insists it is...

  • The political space for a deal was opened by the readiness of Germany to explore ways to ease Greek debt repayments, the Financial Times reports.

  • BERLIN, May 9- German industrial orders rose more than expected in March and the International Monetary Fund said on Monday it was "a bit more optimistic" about the outlook for Europe's largest economy, which is heading into the second quarter on a solid footing. The surprisingly strong economic data, published by the Economy Ministry, and the upbeat comments made...