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[21 Apr 2012 | No Comment | ]

The International Monetary Fund expects the Australian economy to expand by three per cent this year as tensions emanating from Europe and the United States continue to ease.
While the 2012 forecast for Australia is unchanged from an IMF briefing note issued in January, it comes as the threat of a sharp global economic slowdown recedes and activity in the United States rises.
The forecast is down from the 3.3 per cent growth forecast in the previous half-yearly world economic outlook report published in September last year. Even so, the IMF’s 2012 …

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[18 Apr 2012 | No Comment | ]

Japan is considering lending about $60 billion to the International Monetary Fund to help strengthen a global firewall against contagion from the European sovereign debt crisis, Kyodo news agency said on Sunday.
Tokyo is talking with some other key members of the IMF such as China and European nations to finalize their possible contributions to the multilateral lender, ahead of the Group of 20 finance chiefs’ meeting later this week in Washington.
If realized, Japan’s contribution could be one of the biggest by a member nation, Kyodo quoted an unnamed government official …

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[9 Apr 2012 | No Comment | ]

Tokyo and Beijing are considering ways to boost the IMF’s resources to prevent Europe’s sovereign debt crisis from dragging down the global economy, Finance Minister Jun Azumi said Saturday after talks with his Chinese counterpart in Tokyo.
While denying that Asia’s two biggest economies had reached an agreement on whether to extend additional money to the International Monetary Fund, Azumi said they will continue to discuss the matter through “various channels.”
He also repeated that Tokyo will determine its position by the time the finance chiefs of the Group of 20 leading …

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[21 Oct 2011 | No Comment | ]

The International Monetary Fund has welcomed Ireland’s strong implementation of financial reforms in exchange for an international bailout of the indebted eurozone nation worth 85 billion euros ($114.8 billion).
“Program implementation continues to be strong. The authorities have completed the key initial phase of the comprehensive financial sector reforms launched in March,” the IMF said in a joint statement with the European Commission and European Central Bank on Thursday.
“The fiscal deficit limit of 10.5 per cent of GDP in 2011 is expected to be met and important structural reforms are being …

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[22 Sep 2011 | No Comment | ]

The world economy has entered a ‘dangerous new phase,’ according to the chief economist of the International Monetary Fund. As a result, the international lending organisation has sharply downgraded its economic outlook for the United States and Europe through the end of next year.
The IMF expects the US economy to grow just 1.5 per cent this year and 1.8 per cent in 2012. That’s down from its June forecast of 2.5 per cent in 2011 and 2.7 per cent next year.
To achieve even that still-low level of growth, the US …

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[8 Aug 2011 | No Comment | ]

IMF CHIEF Christine Lagarde on Sunday welcomed pledges by the European Central Bank, as well as France, Germany and the G-7, to take all necessary measures to stabilize the financial markets.
‘This cooperation will contribute to maintaining confidence and spurring global economic growth,’ Ms Lagarde said in a statement.
The IMF reaction followed statements by financial chiefs and central bankers of the G7 countries to ‘take all necessary measures to support financial stability and growth’ as nervous global markets re-opened.
‘I welcome the statements from the European Central Bank, from the leaders of …

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[21 Jul 2011 | No Comment | ]

THE INTERNATIONAL Monetary Fund said on Wednesday it remains concerned with the potential for a property price bubble in China even though the country’s elevated inflation rate may peak within the next month or two.
While efforts by China to cool the real estate sector have reduced transaction volumes and property price increases, prices in some larger cities still look ‘bubbly’, Nigel Chalk, IMF mission chief to China, told reporters while discussing the IMF’s annual health check of the Chinese economy.
‘As long as the cost of financing is low and other …

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[11 Jul 2011 | No Comment | ]

FORMER French finance minister Christine Lagarde took up her post as the new head of the International Monetary Fund on Tuesday, after Dominique Strauss-Kahn quit in May to fight sexual assault charges.
Ms Lagarde, 55, is committed to serving five years as managing director of the world’s key crisis lender after three previous directors, all Europeans, left the job early, according to an IMF statement of her terms of appointment.
Ms Lagarde was given a pay package of US$467,940 (S$574,864) in annual salary net of any taxes, and $83,760 in allowances for …

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[2 Jul 2011 | No Comment | ]

The International Monetary Fund welcomed the Greek parliament’s passage of a tough austerity plan designed to shore up its finances and avert a debt default that could shake the euro zone.
IMF spokeswoman Caroline Atkinson said the move would “pave the way” for the release of more funds to Athens from the 110 billion euro ($149 billion) European Union-IMF rescue package for the country.
“The recent passage of the relevant legislation in Greece’s parliament will bolster Greece’s efforts to implement its economic reform program,” Atkinson said in a statement.
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[2 Jun 2011 | No Comment | ]

France’s Christine Lagarde promised Brazil to “deepen” International Monetary Fund reforms that would give more power to emerging countries, if she is elected to head the organisation, she said at a press conference.
“The main priority ahead is to continue and deepen reforms” in running the IMF, said Lagarde, France’s finance minister, as she emerged from a meeting with her Brazilian counterpart Guido Mantega.
Lagarde was seeking to rally support for her bid to lead the International Monetary Fund on a visit to Brazil, one of several emerging nations seeking an end …