Last week we took cheer from the level of bank funding rates as being a sign of economic recovery – talk about crumbs of comfort! We needn’t have bothered: the U.K. quarterly GDP (gross domestic product) growth statistic was a jaw-dropping 1.00 percent rise on the second quarter. Hurrah! So everything’s all right then…
Christine Lagarde, managing director at the IMF, tells CNBC Greece needs a little bit more time to continue their adjustments, more needs to be done but at a sensible pace.
Zhu Min, Deputy Managing Director, IMF tells CNBC that while the near term outlook for emerging markets remains uncertain, steps taken by policymakers will bode well for their respective economies.
The belief that Greece needs more time in order to salvage its economy started as a somewhat-expected plea from Greece itself. Now, however, the International Monetary Fund (IMF), government ministers and economists are convinced that the country needs more time to implement reforms and austerity cuts.
Tony Fratto, Partner, Hamilton Place Strategies and CNBC Contributor explains why the U.S. will need to place equal weight on its relationships with China and India.
Jose Vinals, Financial Counsellor and Director of the Monetary and Capital Markets Department at the IMF says the concentration of government bonds in Japan's banking system is a concern.
Paul Gruenwald, Chief Economist, Asia Pacific at ANZ explains the significance of the IMF's Global Financial Stability Report. He adds that Europe may need to be pushed harder to find a clear exit out of the debt crisis.