Greek debt crisis: IMF’s Lagarde says debt restructuring needed July 8, 2015 IMF chief Christine Lagarde has stressed Greece's huge debt pile needs restructuring and said the organisation remains "fully engaged" with the cash-strapped country. "Greece is in a situation of acute crisis, which needs to be addressed seriously and promptly," she said during a speech at the Brookings Institution think-tank in Washington. Earlier today Greek Prime Minister [...]
IMF annual review on the US economy: GDP will grow by 2.5 per cent in 2015 July 7, 2015 The US economy will shrug off a slow first quarter to grow by 2.5 per cent this year, according to the International Monetary Fund's (IMF) annual review. The IMF said it expects the US economy to bounce back from the first quarter when it shrank by 0.2 per cent, as this was due to bad weather, plummeting oil [...]
IMF calls on the US to complete post-crisis reforms July 7, 2015 The International Monetary Fund (IMF) has called on the United States to complete reforms promised in the aftermath of the financial crisis. The Washington-based organisation said one key post-crisis reform, the Dodd Frank Act, must be strengthened as well as protected from legislative proposals to water it down. Key areas of contention that need to [...]
IMF: Greece needs debt reduction due to poor recent governance July 2, 2015 One of Greece’s official creditors has acknowledged that the country needs debt relief, but only due to the choices of its current leadership elected in January. The International Monetary Fund (IMF) said yesterday that Greece would need more than €50bn (£36bn) in financing by the end of 2018, as well as a doubling in the length [...]
IMF: Another Greek bailout will cost €52bn July 2, 2015 Bailing out Greece for another three years will cost €52bn, the International Monetary Fund (IMF) said today, as Greeks prepared to vote on reform proposals by the country's creditors. A new debt sustainability analysts by the IMF showed interest payments will cost €4.9bn over the next 12 months, rising to €17.2bn over the next three [...]
Greek debt crisis: Greece finally in arrears as it fails to meet deadline for IMF payment June 30, 2015 Greece has officially become the first Western country to go into arrears on its debt to the International Monetary Fund (IMF) after failing to meet last night’s deadline for a repayment of €1.5bn (£1bn), despite a last-ditch attempt to reach a deal with its creditors yesterday. The IMF confirmed late last night that the [...]
Greece has missed its deadline to repay €1.6bn to the IMF June 30, 2015 Just as all the markets expected, Greece has not met its deadline to repay €1.6bn (£1.1bn) to the IMF. Read more: Germany won't discuss Greek bailout deal until after Greek referendum The amount, which constituted a bundle of loan repayments from the month of June, was due by 11pm on Tuesday evening. Greek [...]
Greece could face a huge shortage of life-saving medicines if it defaults on today’s IMF payment June 30, 2015 If Greece defaults on its €1.6bn (£1.14bn) repayment to the IMF today, the country could end up suffering a serious shortage of life-saving medicines. Read more: This Londoner is crowdfunding a Greek bailout fund on Indiegogo In a letter written to the European Commission, the European Federation of Pharmaceutical Industries and Associations (EFPIA) called [...]
European markets begin second day of falls as Greece confirms it won’t make today’s IMF payment deadline June 30, 2015 The FTSE 100 was 0.6 per cent down in late morning trading today, after Greece confirmed last night it will definitely miss today's 6pm deadline to pay the International Monetary Fund (IMF) €1.6bn (£1.1bn). Read more: George Osborne vows to help Britons hit by Greek crisis Meanwhile, although both the Cac and the Dax fell, [...]
Greece will default on its €1.6bn repayment to the IMF today June 30, 2015 Greece will not pay the €1.6bn (£1.14bn) it owes to the IMF today, Athens has confirmed Read more: How Twitter became Alexis Tsipras’ secret weapon in Greek negotiations The beleaguered country is required to make the repayment to its creditor by 11pm on 30 June, after saying it would bundle all its payments for the month [...]