IMF steering committee forgoes communique due to Russian objections
2 years, 8 months ago

IMF steering committee forgoes communique due to Russian objections

The Hindu  

Russia's refusal to agree to strong language condemning its war in Ukraine prevented the steering committee of the International Monetary Fund from issuing a formal communique on April 21, the panel's chair said. "Unfortunately, due to one member country breaking away we didn't have the unanimity so as to have the communique," Spanish Finance Minister Nadia Calvino, who heads the committee this year, said at a press conference. The meetings have "not been business as usual," Ms. Calvino said, repeating what has become a stock turn of phrase to describe the semi-annual gathering of global finance leaders that has featured walkouts by major western economy officials from sessions attended by Russian officials. The G20 also failed to issue a communique, although Indonesian Finance Minister Sri Mulyani Indrawati, who chaired the meeting of G20 finance officials, said many members spoke to condemn Moscow's war in Ukraine.

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History of this topic

Financial stability challenges need to be discussed, IMF MD echoes RBI governor
6 months, 2 weeks ago

Financial stability challenges need to be discussed, IMF MD echoes RBI governor

Hindustan Times  

Echoing the sentiment expressed by Reserve Bank of India Governor Shaktikanta Das, Kristalina Georgieva, Managing Director, International Monetary Fund, underscored the need to discuss the financial stability challenges in a separate discussion in Washington D.C. Kristalina Georgieva, managing director of the International Monetary Fund. She underscored the challenges posed to the financial sector due to the introduction of new technologies …

Focused on job at hand, not future role, says IMF chief Kristalina Georgieva
9 months, 3 weeks ago

Focused on job at hand, not future role, says IMF chief Kristalina Georgieva

Live Mint  

With just seven months to go in Kristalina Georgieva's term as head of the International Monetary Fund, she said on Tuesday that she isn't focused on whether to seek a second one. Keeping Georgieva on for a second term would answer longstanding concerns raised by emerging market and developing countries over the US-European duopoly at the two global financial institutions, …

Global growth slowing to below 3% due to Ukraine war: IMF chief
1 year, 8 months ago

Global growth slowing to below 3% due to Ukraine war: IMF chief

Hindustan Times  

International Monetary Fund chief Kristalina Georgieva warned on Sunday that risks to financial stability had increased and stressed "the need for vigilance" following the recent turmoil in the banking sector. Speaking at a forum in Beijing, the IMF managing director said she expected 2023 "to be another challenging year", with global growth slowing to below 3.0 percent due the war …

Pakistan’s finance minister to meet IMF delegation in Geneva
1 year, 11 months ago

Pakistan’s finance minister to meet IMF delegation in Geneva

Al Jazeera  

IMF has yet to approve the release of $1.1bn originally due to be disbursed in November last year. An International Monetary Fund delegation will meet Pakistan’s finance minister on the sidelines of a conference in Geneva as Pakistan struggles to restart its bailout programme. The IMF is yet to approve the release of $1.1bn originally due to be disbursed in …

IMF approves program for Ukraine to maintain economic stability
2 years ago

IMF approves program for Ukraine to maintain economic stability

Live Mint  

The International Monetary Fund has approved a four-month program for war-hit Ukraine. The program is aimed at maintaining economic stability following Russia's invasion of the country, and helping promote donor financing, according to the news agency Reuters. "Large and predictable external financial support will be critical for the success of the authorities’ strategy, and frontloaded disbursements would help address strains …

IMF cuts global growth forecast due to 'seismic waves' from Russia's war in Ukraine
2 years, 8 months ago

IMF cuts global growth forecast due to 'seismic waves' from Russia's war in Ukraine

India Today  

The International Monetary Fund on Tuesday slashed its forecast for global economic growth by nearly a full percentage point, citing Russia's war in Ukraine, and warning that inflation was now a "clear and present danger" for many countries. The war is expected to slow growth and further increase inflation, the IMF said in its latest World Economic Outlook, while warning …

IMF board confident about leader despite data-rigging claims
3 years, 2 months ago

IMF board confident about leader despite data-rigging claims

Associated Press  

WASHINGTON — The International Monetary Fund expressed “full confidence” in its managing director Tuesday in response to allegations that while she was a World Bank official, she and others pressured staffers to change business rankings in an effort to placate China. The IMF’s 24-member executive board said in a statement that its review “did not conclusively demonstrate that the managing …

IMF head meets with board probing data-rigging allegations
3 years, 2 months ago

IMF head meets with board probing data-rigging allegations

Associated Press  

WASHINGTON — The head of the International Monetary Fund met on Wednesday with her agency’s executive board, which is conducting an investigation into alleged data-rigging at the World Bank, the sister global lender where she was formerly was a top executive. The IMF is investigating allegations that in 2018 World Bank employees were pressured to alter data affecting its business-climate …

World Bank, IMF to Consider Climate Change in Debt Reduction Talks
3 years, 10 months ago

World Bank, IMF to Consider Climate Change in Debt Reduction Talks

News 18  

The World Bank is working with the International Monetary Fund on ways to factor climate change into the negotiations about reducing the debt burdens of some poor countries, World Bank President David Malpass told Reuters in a Friday interview. Malpass said the Bank and the IMF were studying how to twin two global problems – the need to reduce or …

IMF to make small upward revision to 2020 global growth forecast
4 years, 2 months ago

IMF to make small upward revision to 2020 global growth forecast

Live Mint  

The International Monetary Fund will make a “small upward revision” to its 2020 global growth forecast next week, while warning that the rebound from the recession will be long and bumpy. The IMF estimates that the second and third quarters were “somewhat better” than expected in June, when it forecast gross domestic product would shrink 4.9% this year, Managing Director …

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