IMF pessimism on Greece cools hot day for markets June 11, 2015 A strong day for European markets came to an abrupt end yesterday as one of Greece’s creditors said there had been “no progress” in recent negotiations with the country. Greece is currently trying to secure a cash-for-reforms bailout deal to stave off bankruptcy. “We are well away from an agreement,” a spokesman for the International [...]
Greek crisis: IMF negotiating team gives up and goes home June 11, 2015 The International Monetary Fund (IMF) team responsible for negotiating a deal with leaders from Greece to unlock funds which will prevent it from defaulting are heading back to Washington, the organisation said today. In a statement released this afternoon, it said the team had left Brussels after "failing to make progress on a debt deal [...]
European markets tumble on Greek IMF payment delay June 5, 2015 European markets reacted badly to the news that Greece has been given the go-ahead to bundle a €300m (£220m) payment due to the International Monetary Fund (IMF) today into one large payment at the end of the month. Read more: Can only fiscal integration secure the Eurozone's future? The FTSE 100 was down 0.43 per cent [...]
Greece shocks IMF by holding back €300m June 4, 2015 The standoff between Greece and its creditors intensified last night when the embattled Mediterranean state refused to cough up €300m (£218m) owed to the International Monetary Fund (IMF). The payment, due today, is one of several instalments in June which Athens now says it will bundle into one transfer at the end of the month. [...]
Greece delays €300m IMF payment until the end of the month June 4, 2015 Greece has informed the International Monetary Fund (IMF) that it plans to bundle its June debt repayments into one payment of €1.5bn due on 30 June. Originally, the Greek government had a €300m payment to the IMF on Friday. However, Green has announced that it will bundle this, along three other payments, into one at [...]
IMF slashes US growth forecast June 4, 2015 The International Monetary Fund (IMF) has slashed its forecast for US growth in 2015 to 2.5 per cent, from its previous estimate of 3.1 per cent. Its forecast for growth in 2016 was cut to three per cent, from 3.1 per cent. The news comes after the US delivered its worst quarter in a year, [...]
European markets fall on Greece jitters ahead of IMF payment deadline June 4, 2015 European markets opened lower this morning after last-minute talks between European Commission President Jean-Claude Juncker, Eurogroup President Jeroen Dijsselbloem and Greek Prime Minister Alexis Tsipras failed to reach a conclusion ahead of a crucial deadline on Friday. The FTSE 100 was down 0.84 per cent in early morning trading, while Germany's Dax fell 0.68 per [...]
How to make George Osborne happy: The IMF thinks the UK could live with higher debt “forever” June 3, 2015 Could this be the economic argument George Osborne has been waiting for? Our obsession with clearing the UK's debt could be more trouble than it's worth, according to a new paper published by the IMF. Although high levels of debt are generally viewed as problematic, advanced economies such as the UK's could “simply live [...]
G7 agrees Chinese currency should be in IMF currency reference basket May 29, 2015 The G7 has agreed that the Chinese yuan should be part of an international basket of reference currencies. German Finance Minister, Wolfgang Schäuble, announced the decision after a meeting of G7 finance ministers and central bank governors. However, he told a press conference that there was no need to rush the process. He said: There [...]
Greece falls back into recession as IMF chief Christine Lagarde warns on Grexit May 29, 2015 New data published this morning has confirmed Greece plunged back into recession last quarter – just as International Monetary Fund (IMF) chief Christine Lagarde said this morning that a comprehensive deal with Greece to avoid it defaulting on loan repayments is "very unlikely… in the next few days". Read more: What happens if Greece defaults [...]