The International Monetary Fund Tuesday urged the United States to outline credible measures to reduce its budget deficit, pressuring the White House to detail plans to ratchet down record debt levels. Get the full story »
Inside these posts: IMF
Visit our Filed page for categories. To browse by specific topic, see our Inside page. For a list of companies covered on this site, visit our Companies page.
Inflation, oil prices risks to global economy: IMF
Soaring oil prices and inflation in emerging economies pose new risks to global recovery but are not yet strong enough to derail it, the International Monetary Fund said on Monday. Get the full story »
Irish unveil 4-year plan to cut $20B
Ireland unveiled the harshest budget measures in its history Wednesday, a four-year plan to claw back $20 billion using spending cuts and extra taxes. Some 24,000 state employees could lose their jobs and the sales tax could soar to 23 percent.
The plan seeks to cut $13.3 billion from spending and raise $6.7 billion in extra taxes from 2011 to 2014 to combat Europe’s worst deficit.
The government’s long-awaited austerity plan is a prerequisite for Ireland to get an international loan estimated to total $115 billion. The bailout is still being negotiated with experts from the International Monetary Fund and European Central Bank in Dublin. Get the full story »
Effort to oust Ireland’s PM as bailout progresses
Lawmakers in Prime Minister Brian Cowen’s own party mounted a rebellion Tuesday to try to oust him, an effort that could trigger a snap election and delay a massive EU-IMF bailout of Ireland. Cowen’s Cabinet colleagues in the Fianna Fail party said they were confident, however, that the rebels don’t have enough votes to pursue a no-confidence motion against Cowen.
The Cabinet gathered at Cowen’s office to complete its four-year plan for unprecedented budget cuts tied to Ireland’s international bailout. The plan, which proposes to slash $20 billion from the country’s 2011-14 budget deficits, is to be published Wednesday. Get the full story »
Central bank expects Ireland to take EU-IMF loan
Ireland’s central bank chief said on Thursday he expected Dublin to receive tens of billions of euros in loans from European partners and the IMF to shore up its shattered banks though the government said it had made no request yet. Get the full story »
U.S.: Markets must be allowed to drive currencies
Failure by global institutions to make a coordinated push to persuade countries such as China to let their currencies’ value rise would endanger the global economy, U.S. Treasury Secretary Timothy Geithner said Wednesday. Get the full story »
IMF warns of continued risks to world economy
Risks to financial stability remain elevated due to a combination of slow global growth, high sovereign debt burdens and continuing weakness in the banking sector, the International Monetary Fund warned in a report released Tuesday.
In a report published during its annual meetings in Washington, the IMF highlighted persistent risks to the banking system from high debt levels in mature economies and resulting tensions on sovereign bond markets, particularly in Europe. Get the full story »
Interest rates up sharply on rescue plan news
Associated Press | Interest rates surged in the bond market Monday after European leaders and central banks around the world agreed to rescue measures to help stem growing debt problems in Europe. European Union leaders and the International Monetary Fund agreed to a nearly $1 trillion aid package that will help weak European countries like Greece that are facing mounting debt problems. The U.S. Federal Reserve is also making loans available to central banks in Europe that can then loan the money out to financial institutions in their countries.
Get the full story: Interest rates up sharply on rescue plan news.
