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Montevideo, May 21st 2018 - 11:14 UTC

Tag: Christine Lagarde

  • Friday, May 11th 2018 - 05:39 UTC

    IMF and White House support Macri's economic reform program

    “I stressed my strong support for Argentina's reforms to date, and expressed the Fund's readiness to continue to assist the government,” Lagarde said

    International Monetary Fund chief Christine Lagarde said on Thursday she is ready to aid Argentina and wants talks on a financing package to be finalized quickly. Lagarde said she instructed the IMF team to continue discussions on a loan program with the goal to “reach a rapid conclusion.”

  • Wednesday, May 9th 2018 - 20:19 UTC

    US Dollar rises: Uruguay behind Argentina

    The exchange houses in the center of Montevideo today marked up to 31.70 Uruguayan pesos per dollar, a rise of 2.08% compared to Monday - the highest in five years. Photo: Sebastián Astorga

    After several days up in Argentina, the devaluation of the Argentine peso and the rise of the US dollar have had some impact on the other side of the River Plate, where the exchange houses of downtown Montevideo marked on Wednesday the value of the currency up to 31,70 Uruguayan pesos per dollar, a rise of 2.08% compared to Monday —the highest in five years—. For the Uruguayan government, the country follows the global trend and calls for calm, beyond the noise generated in Argentina, which is beginning a dialogue between the Finance Minister, Nicolás Dujovne, and the International Monetary Fund (IMF) in Washington.

  • Wednesday, May 9th 2018 - 07:32 UTC

    Peso storm: Argentina requests a US$ 30bn precautionary credit from IMF

    “This will allow us to face the new global scenario and avoid a crisis like the ones we have faced before in our history,” President Macri said in a televised address

    Argentina asked the International Monetary Fund for financing to help stem a run from the Peso to the US dollar that is sparking a surge in interest rates and threatening to derail the country's economic recovery. The sum requested is estimated between 25 and 30bn dollars, 500% Argentina's IMF quota and could be disbursed in two forms, a flexible credit line or a precautionary credit line.

  • Saturday, May 5th 2018 - 07:24 UTC

    Argentina hikes benchmark rate to 40%, easing pressure on the Peso but not on inflation

    Analysts said the move suggested the Central Bank had done enough for now to stabilize the peso.

    Argentina's Central Bank on Friday hiked its benchmark interest rate to 40% to support the peso, the third such hike in just over a week and one day after the currency plunged in value. Following the decision, the peso -- which has lost more than 10% of its value in the past month -- opened 6% higher against the dollar.

  • Tuesday, April 24th 2018 - 07:22 UTC

    IMF forecasts Argentina will grow 2% this year because of the drought and fiscal shortcomings

    Central Bank Governor Federico Sturzenegger has indicated that if the inflation rate stays high, interest rates will be going back up in order to meet the 15% target.

    The International Monetary Fund’s (IMF) World Economic Outlook update for April 2018 has reduced its expectations of growth for Argentina this year, and its projected annual inflation rate largely exceeds the 15% goal set by president Mauricio the Macri administration in December 2017.

  • Wednesday, March 21st 2018 - 06:41 UTC

    Lagarde insists at financial G20: “we should fix the roof while the sun shines”

    “Reform is all the more important because the cyclical forces carrying current growth will eventually wane and medium-term prospects remain weak”

    IMF Managing Director Christine Lagarde at the conclusion of the Group of 20 (G20) Finance Ministers and Central Bank Governors meeting in Buenos Aires, reiterated praise for Argentina president Mauricio Macri gradual economic policies, and called on the need for reform in the more advanced economies to ensure sustained, solid growth.

  • Wednesday, October 11th 2017 - 14:27 UTC

    World Bank admits millions of jobs will be automated and urges investments in “human capital”

    World Bank chief Dr Kim said other kinds of investments are important to economic growth in the future, as robots displace millions of low-skill workers.

    The world is on a “crash course” as people's hopes collide with a future in which millions of jobs are automated, the World Bank chief has said. Jim Yong Kim said policymakers should take action by investing in education and health. The World Bank president spoke in New York ahead of the group's annual meeting in Washington DC this week.

  • Saturday, April 22nd 2017 - 14:15 UTC

    IMF Lagarde calls for “growth friendly fiscal policies” and warns on automation

    Lagarde stressed that aging populations, political instability and “the sword of protectionism” all threaten “self-inflicted wounds” on economies across the globe.

    The International Monetary Fund managing director Christine Lagarde said that to get the global economy moving at a faster pace it was necessary to share the benefits of capitalism, more global regulation and more action to protect workers against automation and robots.

  • Thursday, January 19th 2017 - 06:26 UTC

    Lagarde anticipates “pain” as UK prepares departure from the European Union

    Lagarde welcomed PM May speech on Tuesday saying that Britain wanted to leave the single market, for providing clarity.

    The head of the International Monetary Fund has warned the UK there is still likely to be “pain” ahead as Theresa May prepares to trigger the UK's departure from the European Union. Christine Lagarde told the BBC the Brexit process would be complicated.

  • Tuesday, December 20th 2016 - 06:09 UTC

    Christine Lagarde guilty, yet unpunished

    IMF chief Christine Lagarde found guilty by French court under mitigating circumstances

    A French court on Monday found International Monetary Fund (IMF) chief Christine Lagarde guilty of negligence for her doings as finance minister in 2008, when she failed to challenge a state arbitration payout to a business tycoon in.