Tag: Christine Lagarde

Christine Lagarde
Tuesday, December 1st 2015 - 07:53 UTC

Yuan joins the exclusive club of IMF's basket of reserve currencies

The IMF said the Yuan ”met all existing criteria'' and should become part of the basket in October 2016.

The International Monetary Fund (IMF) has announced that China's currency, the Yuan, will join the fund's basket of reserve currencies. Currently just the US dollar, the euro, the yen and the pound are in the group.

Tuesday, October 13th 2015 - 07:13 UTC

Pacific Alliance members outstand in Latin American performance, says IMF

“Compared to 15 years ago, the region has changed for the better. It is now standing on much more solid ground,” Lagarde said

Brazil is still by far the largest economy in Latin America despite its recession and the impact of the devaluation of the Real, according to the latest report from the International Monetary Fund (IMF), which said Venezuela dropped to the position of the region’s seventh-largest economy with a GDP that’s now half the size of Colombia’s.

Monday, October 12th 2015 - 09:18 UTC

Lagarde blasts US Congress for blocking reforms: “they jeopardize IMF's credibility”

“It is an issue for the credibility and the representativeness of the institution, particularly vis-à-vis the under-represented countries,” underlined Lagarde

Washington's use of its de facto veto at the International Monetary Fund to block reforms giving emerging countries a greater say is jeopardizing the IMF's credibility, complained Managing Director Christine Lagarde.

Friday, October 9th 2015 - 07:21 UTC

Fed close to increasing rate, according to minutes; IMF again calls on Yellen for prudence

Because of the risks to the outlook for economic activity and inflation, “FOMC decided that it was prudent to wait for additional information” said the minutes

The US Federal Reserve believes the US economy was close to warranting an interest rate hike in September but policymakers decided it was prudent to wait for evidence a global economic slowdown was not knocking United States off course.

Tuesday, September 8th 2015 - 08:42 UTC

IMF cautions Fed on conditions when it decides to increase interest rates

“The Fed has not raised interest rates in such a long time, that it should really do it for good, not give it a try and then have to come back,” Lagarde said

The US Federal Reserve must be certain that the job market and inflation are strong enough to justify raising interest rates, IMF managing director Christine Lagarde said after a G20 meeting focused on the pressure the increase might place on the global economy.

Tuesday, July 21st 2015 - 05:49 UTC

White House advisor, expert in stimulus next IMF chief economist

Currently on leave from Berkeley to serve on President Obama's Council of Economic Advisers, Obstfeld will take over from retiring Olivier Blanchard

The International Monetary Fund has named as its new chief economist Maurice Obstfeld, an academic and White House economic adviser known for his work on money flows and international finance.

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.


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