Tag: Christine Lagarde

Christine Lagarde
Saturday, May 23rd 2015 - 06:27 UTC

Brazil announces US$ 22.5bn spending cuts and confirms minister Levy

“This is a big effort that indicates the government willingness to meet our goal,” Planning Minister Nelson Barbosa told reporters in Brasilia.

Brazil finally announced its much expected budget resources reshuffle that will freeze 69.9 billion Reais (22.58 billion dollars) worth of spending on investment, education and health programs this year, limiting outlays in a bid to convince investors that President Dilma Rousseff is committed to saving the country's investment-grade rating.

Friday, May 22nd 2015 - 05:42 UTC

Lagarde preaches fiscal discipline in one of Brazil's most dangerous slums

“The people who suffer the most with fiscal indiscipline at the end of the day are generally the poor”, said Lagarde in the Complexo do Alemao favela

The head of the International Monetary Fund (IMF) encouraged Brazil on Thursday to pursue fiscal discipline, saying it was needed to protect social programs benefitting the poorest members of society. IMF chief Christine Lagarde made the link during a visit to Complexo do Alemao, one of Rio's largest and most dangerous slums and an example of the challenges the country faces as it struggles with low growth and high inflation

Friday, May 8th 2015 - 08:13 UTC

Fed warns stock market levels present 'potential dangers', but sees “no bubbles forming”

Ms Yellen told IMF managing director, Christine Lagarde, that the US central bank was watching the issue closely.

The chair of the US Federal Reserve, Janet Yellen, has warned stock market levels present “potential dangers”, insisting current valuations, which have seen key US and UK indicators reach record levels, were “quite high”. However she did not see 'any bubbles forming'.

Friday, January 23rd 2015 - 06:20 UTC

EU, US and IMF clash over the European economy and the Euro in Davos

“There is a general expectation to compare the US economy and the Euro area and I don't think that's a reality,” said Christine Lagarde

Europeans, including IMF chief and Americans clashed on Thursday in Davos during a debate on monetary stimulus that degenerated into a skirmish over the European Union economy and the Euro.

Wednesday, January 21st 2015 - 06:51 UTC

Explosive report on world's wealth from Oxfam: 1% of super rich own 48%

Oxfam CEO Winnie Byanyima, said at the Davos meeting that an explosion in inequality was holding back the fight against poverty.

More than half the world’s wealth will be owned by just one percent of the population by next year as global inequality soars, anti-poverty charity Oxfam predicted on Tuesday in an explosive document on the eve of a major meeting of the world’s political and business elite.

Friday, January 16th 2015 - 06:15 UTC

In a surprise move Swiss central bank abandons Euro peg: frank soars 30%

Watchmaker Swatch saw its share price slump 15%. Swatch chief executive Nick Hayek called the decision “a tsunami” for Switzerland's economy.

The Swiss franc soared as much as 30% in chaotic trade after the central bank abandoned the cap on the currency's value against the Euro. The Swiss National Bank (SNB) said the cap, introduced in September 2011, was no longer justified. It also cut a key interest rate from -0.25% to -0.75%, raising the amount investors pay to hold Swiss deposits.

Monday, December 8th 2014 - 07:12 UTC

Road ahead for Latin America 'increasingly bumpy' says IMF Lagarde

Commodity prices that lifted the region for more than a decade are now falling and the era of easy financing will soon end, said Lagarde.

Latin America faces a rocky road ahead despite social and economic achievements in recent years, according to the head of the International Monetary Fund Christine Lagarde. Among the achievements in the last two decades and in most nations, Ms Lagarde mentioned low inflation, fiscal discipline, and financial stability.

Monday, December 8th 2014 - 07:04 UTC

Lagarde wishes to continue improving relations with Argentina

“I think our relationship has gotten better, and I want to continue improving it,” Lagarde told reporters in Chile

The head of the International Monetary Fund Christine Lagarde said she wishes to “continue improving” the relationship between the IMF and Argentina, while at the same time focusing on the necessities of the region's third largest economy which is not growing as fast as it should.

Saturday, December 6th 2014 - 04:44 UTC

Argentina stats: IMF sees advances, but the issue is a heated debate in Congress

The congressional index is 'irresponsible' and a miniscule group of lawmakers can't attribute themselves the full house representation, said Carmen Bianchi

The International Monetary Fund has expressed conformity with the achievements made by the Argentine government regarding the updating of the country's statistics, and hoped to finish its evaluation in February, Director Christine Lagarde announced during a press conference in Santiago de Chile.

Tuesday, October 14th 2014 - 16:43 UTC

IMF urges economic reforms or face brittle growth, high debt and unemployment

Lagarde has been beating the drum on deeper economic reforms for at least the past two years

The world's policymakers must take economic reforms more seriously, or they could see their economies stuck in a muddle of mediocre growth with high debt and unemployment, the head of the International Monetary Fund said at the multilateral organization assembly.

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