Brazilian economy minister Paulo Guedes said that inflation will become a long-term challenge for Western countries, since the beast is already out of the bottle, and central bankers have been caught sleeping at the driving wheel.
The European Central Bank (ECB) on Thursday kept interest rates at historic lows and said it was stepping up its bond-buying stimulus in the coming months. The steps are aimed at halting what is regarded as a premature rise in borrowing costs in the 19 countries that use the Euro currency.
Christine Lagarde, president of the European Central Bank (ECB), said on Monday that the journey to recovery in 2021 would most likely be accompanied by a very high level of uncertainty before a transition to a new economy.
The International Monetary Fund said more public spending will be needed to complete the economic recovery from coronavirus, joining central bankers and finance leaders who are urging governments to set aside fears about mounting debt for now.
Incoming European Central Bank chief Christine Lagarde on Wednesday took aim at Germany and other thrifty Eurozone members running budgetary surpluses, saying they should increase their spending to shore up slowing growth.
Former IMF chief Christine Lagarde said President Donald Trump's trade offensive against China could slash global economic growth and she critiqued his Twitter habits in an interview with US television program 60 Minutes.
Christine Lagarde has defended the IMF decision to give Argentina a record credit line last year, even after the US$56-billion program fell short of stabilizing the nation’s troubled economy.
The International Monetary Fund on Wednesday formally selected Kristalina Georgieva of Bulgaria to be only the second woman ever to lead the 189-member institution. The selection had been all but guaranteed after the global crisis lender said earlier this month that Georgieva, a former World Bank CEO, was the sole candidate.
The top executive at the World Bank, Kristalina Georgieva of Bulgaria, now faces no opposition in her candidacy to lead the International Monetary Fund, the fund announced on Monday.
Known for rolling up her sleeves, Bulgaria's Kristalina Georgieva has been lauded as the life of the party, as well as for her tenacity. The guitar-playing environmental specialist, who was nominated on Friday as the EU's candidate to head the International Monetary Fund (IMF).