Tag: Christine LagardeChristine Lagarde
Income inequality can lead to slower or less sustainable economic growth, while redistribution of income, when measured, does not hurt and can even help an economy, IMF staff found in a research study released on Wednesday. Although the study by IMF economists does not reflect the Fund's official position, it is another sign of a shift in its thinking about income disparity.
Monetary policy tightening in advanced economies will cause volatility in international markets this year and impact the monetary situation of some emerging economies, IMF Managing Director Christine Lagarde cautioned on Wednesday.
The Organization for Economic Cooperation and Development, OECD, cut its forecast for global economic growth through next year and warned that fiscal and monetary policy decisions looming in the U.S. could derail the recovery. OECD said world economic output would expand 2.7% this year and 3.6% in 2014, down from May's forecast of 3.1% and 4%.
Chilean Foreign Affairs Minister Alfredo Moreno has said that the UK has been granted Observer Status of the Pacific Alliance. The announcement was made by Moreno during his recent visit to Europe. The Pacific Alliance is made up of Chile, Peru, Colombia and Mexico and is consolidating as the fastest growing group in the region.
Argentina has made positive progress in reforming the quality of its economic data, the head of the International Monetary Fund said on Sunday, adding that the IMF's board is set to review the country's moves in a few days.
International Monetary Fund announced it was holding constructive talks with Argentina about addressing flawed economic data that led to an unprecedented IMF censure of a member country.
Brazilian President Dilma Rousseff responded to the International Monetary Fund concern over the country's fiscal situation, saying Brazil was fulfilling its responsibilities. IMF claimed that Brazil's competitiveness had eroded in recent months and downgraded the country's growth forecast from 4.25% to 3.5%.
The head of the International Monetary Fund, Christine Lagarde, has warned that a US default could tip the world into recession. In a US TV interview she said a default would result in massive disruption the world over.
The International Monetary Fund trimmed its forecasts for global output for the sixth time since early last year, saying stronger growth in most advanced economies would fail to make up for a more sluggish expansion in the developing world
The International Monetary Fund urged US policymakers to support major reforms at the global lender and bury political differences over the budget to ease one source of risk to the economy and markets.