The International Monetary Fund has warned that a no-deal Brexit on World Trade Organization terms would entail substantial costs for the UK economy. IMF said that all likely Brexit scenarios would entail costs, but a disorderly departure could lead to a significantly worse outcome.2 comments
Argentina’s economy minister sounded upbeat on Wednesday about clinching a new deal with the International Monetary Fund after two days of talks in Washington, and said had sought U.S. support for securing approval from the IMF’s board.
Argentina “made progress” on Tuesday in talks with the International Monetary Fund aimed at securing an accelerated disbursement of a US$50 billion loan it hopes will calm its debilitating economic crisis.
President Mauricio Macri unveiled plans on Monday to raise export taxes on grains and slash the number of government ministries in a bid to balance its budget next year, as Argentina seeks a deal with the IMF to accelerate a US$ 50 billion standby loan program.
Argentina is drafting plans to cut its budget deficit to convince nervous investors it can pay its debts and this Monday Finance minister Nicolas Dujovne is scheduled to announce measures, before traveling to Washington to meet with IMF's chief Christine Lagarde.
S&P said on Friday it may lower Argentina's long-term foreign currency rating from its current B+ grade, which is four notches below investment grade -- and on par with Turkey, Greece and Fiji. The ratings company cited the risk of worsening creditworthiness and exchange rate volatility as potential threats to the economic adjustment measures undertaken by Mauricio Macri’s administration.
Argentina’s beleaguered peso stabilized on Friday as the central bank said it would auction a large amount of dollar reserves, and the International Monetary Fund (IMF) issued a strong statement of support for President Mauricio Macri’s government.
An American Airlines flight carrying International Monetary Fund Managing Director Christine Lagarde made an emergency landing in Argentina shortly after taking off from Buenos Aires’ Ezeiza airport on Sunday, several local media outlets reported.
The IMF urged that trade conflicts be resolved via international cooperation, without resorting to exceptional measures, and underlined the world economy is facing increasing risks especially financial pressures in vulnerable emerging economies and the return of sovereign risks in parts of the Euro area.
Christine Lagarde, Managing Director of the International Monetary Fund, met with Argentina’s President Mauricio Macri, Finance Minister Nicolas Dujovne and Central Bank Governor Luis Caputo in the context of the Group of 20 Finance Ministers and Central Bank Governors meeting in Buenos Aires over the weekend.