Tag: Christine Lagarde

Christine Lagarde
Friday, June 5th 2015 - 06:22 UTC

IMF calls on the Fed to keep rates on hold until first half of 2016

Lagarde said the risks of raising rates too soon outweighed the risk of keeping rates on hold and allowing inflation to slightly exceed the Fed's 2% target.

The International Monetary Fund urged the Federal Reserve to wait until the first half of 2016 to start raising short-term interest rates because the US economy remains subpar. In its annual checkup of the US economy released Thursday, the IMF said “the underpinnings for continued growth and job creation remain in place.”

Thursday, June 4th 2015 - 08:45 UTC

IMF gives Argentina more time to remedy quality of official CPI and GDP data

Director Lagarde made the presentation that decided Argentina will be given one more year to fully implement the changes agreed with the Fund

The International Monetary Fund extended the period given to Argentina to remedy its local statistical measurement tools, while recognizing the country has made advancements in the matter. The IMF directive board met on Wednesday in Washington to assess Argentina's statistical indexes.

Friday, May 29th 2015 - 09:16 UTC

G7 finance chiefs meet in Dresden to discuss global recovery, but Greece overshadows

“We are all in the process of working towards a solution for Greece and I would not say that we already have reached substantial results,” said IMF Lagarde

Finance chiefs and central bankers from the Group of Seven economic powers discussed ways to revive the faltering global recovery on Thursday as the United States leant on Europe to reach a deal to avert a Greek bankruptcy. The threat of a Greek default, rising oil prices and bond market volatility are fuelling investor nervousness about the world's economy.

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.

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