Greek debt crisis: IMF head Christine Lagarde says Eurozone is “in strong position” June 28, 2015 The head of the International Monetary Fund has expressed confidence in the Eurozone's ability to manage the ongoing Greek debt crisis. Christine Lagarde said Europe is in "a strong position to respond to developments in a timely and effective manner, as needed" in a statement, following the Greek government's backing of a referendum on a [...]
With no deal yet, has the IMF compromised its credibility in its handling of Greece’s bailouts? June 25, 2015 Vicky Pryce, chief economic adviser at CEBR, says Yes Greece was the IMF’s biggest rescue ever. The austerity measures it imposed may have worked for developing countries that could devalue, but they were not appropriate for a developed country like Greece, a member of the Eurozone. The IMF admitted in a 2013 study that it [...]
IMF will “not extend Greece repayment deadline” if it fails to pay on 30 June June 25, 2015 The International Monetary Fund (IMF) will not extend a repayment deadline for Greece if it fails to pay up on 30 June, the organisation's spokesman said today. Read more: Eurogroup negotiations break up "indefinitely" During a bi-weekly press conference, Gerry Rice said the fund would not extend the repayment deadline, even if a deal was [...]
Greek official: Athens cannot pay the €1.6bn it owes the IMF June 18, 2015 Greece cannot pay the IMF the €1.6bn (£1.2bn) it owes, the government has admitted. Speaking to Reuters, one of Greece’s top negotiators, Euclid Tsakalotos, said Athens was willing to make concessions, but would not cross any of its red lines, such as cuts to pensions. He said: There is no financing. We haven’t got access [...]
Greece wants to delay its payments to the IMF by six months June 16, 2015 Greece wants to delay paying the €1.55bn (£1.1bn) it owes the IMF by six months, according to a report in the German newspaper Bild. This wouldn't be the first time Greece has looked to put off paying creditors – it had originally said it would bundle its debts to the IMF rather than pay in [...]
Former IMF chief Dominique Strauss-Kahn acquitted of “aggravated pimping” charges June 12, 2015 Former head of the International Monetary Fund (IMF) chief Dominique Strauss-Kahn has been acquitted of "aggravated pimping" charges by a French court today. Read more: Prosecutor calls for pimping charges to be dropped against former IMF chief It brings to a close a four-year saga during which Strauss-Khan was accused of a procuring a number of prostitutes [...]
Euro sinks and Greek stocks plummet after IMF walkout June 12, 2015 Stocks in Athens were down almost four per cent in mid-morning trading, after negotiators from the International Monetary Fund (IMF) walked out of talks last night. Meanwhile, the euro fell more than half a cent against the dollar, to less than $1.12. Editor's letter: I'm finally convinced – a Grexit could really happen Markets across [...]
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 [...]