Greece slams IMF: Yanis Varoufakis hits out at creditors for deal stalemate May 26, 2015 Greece's firebrand finance minister yesterday blasted the International Monetary Fund (IMF) for playing hardball in negotiations, as fears the country will default on its debt sent up the interest rate on its government bonds. “It’s about time the institutions, in particular the IMF, get their act together, and come to an agreement with us,” [...]
IMF tells China to let currency trade freely May 26, 2015 China’s government is being urged to liberalise more of its economy, and let markets operate more freely in its finance sectors. The International Monetary Fund (IMF) yesterday urged the authorities to let its currency, the renminbi, trade freely, and asked the government to target a free-floating exchange rate in the next two to three years. [...]
What will happen if Greece defaults on its loan repayment to the IMF? May 26, 2015 Over the course of June, Greece must make four payments totalling €1.6bn (£1.1bn) to the IMF, starting with €300m (£212m) on 5 June. But whether it will meet all these obligations is far from certain, as the country is struggling to reach a deal with its European creditors to unlock crucial bailout funds. It managed [...]
Greek shares drop despite pledge to keep paying IMF May 25, 2015 Stocks in Athens sank three per cent yesterday despite the government reiterating that it would meet its intention to pay its creditors on time. The euro also sank to a one-month low against the dollar, trading at $1.097 last night. At the weekend one of the country’s ministers claimed that Greece would refuse to – [...]
Greece has no money to pay the IMF this June, says interior minister Nikos Voutsis May 24, 2015 Greece’s interior minister has said that the country cannot afford its 5 June payment to the International Monetary Fund. Greece owes the IMF €1.6bn (£1.1bn) in June, but Nikos Voutsis said on Greek TV that Athens simply doesn’t have the money to pay: The four instalments for the IMF in June are €1.6bn, this money [...]
Greece will not pay IMF in June without a deal May 20, 2015 A Greek official has warned the country will go bankrupt on 5 June, when a €300m (£214m) payment to the International Monetary Fund is due, if a deal on extra bailout cash is not wrapped up by then. “Now is the moment that negotiations are coming to a head. Now is the moment of truth, [...]
IMF raises Italy growth forecast May 18, 2015 The International Monetary Fund (IMF) has raised its forecast for Italy's growth to 0.7 per cent this year, up from 0.5 per cent. The organisation said Italy was "emerging slowly from a painful recession", but had been buoyed by the European Central Bank's (ECB) quantitative easing programme. "Government bond yields have fallen to pre-crisis lows, [...]
Markets hit as Greece letter shows just how close it came to defaulting on a €750m IMF payment May 18, 2015 The FTSE 100 started the day on a positive note, edging back above the 7,000 mark – but that was quickly curtailed, after the publication of a letter from Greek prime minister Alexis Tsipras to International Monetary Fund (IMF) chief Christine Lagarde showed just how close it came to defaulting on a €750m (£544m) payment [...]
Greece raided reserves at IMF to meet debt repayment deadline May 12, 2015 Greece had to raid emergency reserves in its holding account at creditor the International Monetary Fund (IMF) in order to meet the deadline for its sizeable €750m (£544m) repayment. An official told Reuters the cash-strapped country had been forced to tap into around €650m (£467m) from its holding account with the organisation. "We made use [...]
Greece beats deadline for €750m loan repayment to IMF May 11, 2015 Some expected Greece to default on it's latest debt repayment, but it has proved them wrong. Today, following extensive discussions with creditor nations on the struggling economy's future in the Eurozone, a transfer of €750m (£544m) was made from Greece to the IMF, beating tomorrow's deadline for the payment. It is not clear how [...]