IMF Managing Director ‘Madame (Christine) Lagarde’ had words of support for Argentina’s position in the dispute with ‘vulture’ (hedge) funds during an informal encounter with Argentine officials on the sidelines of the recent G20 summit in Russia.
Brazil on Thursday expressed support for the IMF latest aid package for Greece, disavowing its IMF delegate who abstained in a vote on the issue. Finance Minister Guido Mantega spoke with IMF chief Christine Lagarde and backed the Fund's decision to release 1.7 billion Euros in rescue loans to ailing Greece Monday, his spokesman said.
The Managing Director of the International Monetary Fund (IMF) Christine Lagarde has once more requested that Argentina present economic figures based on trustworthy and credible numbers and statistics.
The International Monetary Fund no longer plans to ask the U.S. Supreme Court to review Argentina's case in its decade-old legal battle with holdout creditors due to a lack of support from the U.S. government, the IMF said on Tuesday.
The US Supreme Court gave hedge funds another month to present their reply following on the request from the Argentine government to review the sentence handed down by Judge Thomas Griesa and partially supported by the Appeals Court.
The IMF decision to side with Argentina in its dispute with the US hedge funds has triggered strong criticism in the UK and the issue was brought up in Parliament, according to a piece in the Daily and Sunday Express under the heading: “The British cash cow: Fury as UK money helps Argentina fight £66bn debt”.
In an unprecedented move, the International Monetary Fund plans to ask the US Supreme Court to review Argentina's case in a decade-old legal battle with holdout creditors, because of the implications it could have on sovereign debt restructurings.
Federal Reserve Chairman Ben Bernanke said on Wednesday the US central bank still expects to start scaling back its massive asset purchase program later this year but left open the option of changing that plan in either direction if the economic outlook shifted.
United States could spur growth by adopting a more balanced and gradual pace of fiscal consolidation, especially at a time when monetary policy has limited room to support the recovery further, the International Monetary Fund said after wrapping up its annual review of the world’s largest economy.
The International Monetary Fund admitted it had to lower its normal standards for debt sustainability to bail out Greece, and its projections for the Greek economy may have been overly optimistic.