Tag: Christine LagardeChristine Lagarde
The European Central Bank cut interest rates to a new record low on Thursday amid a chorus of calls for the Euro zone to focus on growth to end a nightmare of unemployment in the bloc. It was the first cut in ten months.
International Monetary Fund Managing Director Christine Lagarde, whose Paris apartment was searched by police March 20 in a case involving businessman Bernard Tapie, retains the backing of the board of directors, an IMF spokesman said.
Following Friday’s IMF ‘declaration of censure’ on Argentina because of the lack of reliability in its inflation and GDP stats, and the country’s first reaction virtually describing the Fund as mother of all financial evils, Minister of Economy Hernan Lorenzino announced a new ‘national’ Consumers Prices Index to be implemented in the course of this year and which will replace the current GBA-IPC.
Argentina became the first country censured by the International Monetary Fund for not sharing accurate data on inflation and economic growth under a procedure that can end in expulsion. The declaration of censure was adopted Friday by the IMF 24-member board of directors and even if it doesn’t have immediate effects, the decision takes the country a step closer to sanctions that include barred access to IMF loans.
The board of directors of the International Monetary Fund will again meet at the end of January to debate Argentina’s improvement in the quality of its official economic index, IMF spokesman announced on Monday.
IMF Managing Director Christine Lagarde described Chile as one the most stable and prosperous nations in South America which has enjoyed robust growth over the last decade, but also warned it remains exposed to shifts in commodity prices.
The IMF said Thursday that it was unlikely to take action on Argentina failure to supply accurate statistical data before January, if the country misses a deadline next Monday.
IMF Managing Director Christine Lagarde on a five day tour of Latin America is expected to outline the lender’s reversal of its decades-old opposition to capital controls, even as Brazil says the new position doesn’t go far enough.
The IMF Managing Director Christine Lagarde praised Colombia as a member with the capacity to support the multilateral organization with “funds” and “services”, something which in the past was not possible. Lagarde made the comments after meeting with Colombian president Juan Manuel Santos in Bogotá where she underlined the “magnificent moment” of the Andean country’s economy.
The IMF ratified last week that by December 17 Argentina must reply to Managing Director Christine Lagarde on the latest advances referred to the country’s statistics both on inflation and GDP growth.