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.
The International Monetary Fund announced on Tuesday that it “regretted the lack of sufficient progress” with Argentina to address the quality of the official data reported by the country and urged it to come up with a response to the organization’s concerns by December 17th.
International Monetary Fund on Monday cut its global growth forecast and warned that the outlook could dim further if policymakers in Europe do not act with enough force and speed to quell their region's debt crisis.
Fitch Ratings says a new round of adverse shocks centred on the Euro zone is slowing the fragile global economic recovery. In its latest quarterly Global Economic Outlook (GEO), Fitch forecasts real GDP growth of major advanced economies (MAE) to remain weak at 1.1% in 2012, before only a modest rebound to 1.7% in 2013 and 2.2% in 2014.
The amount of additional money Brazil plans to contribute to the IMF will depend on commitments to bolster the influence of emerging-market nations at the global lender, a senior Brazilian government official said on Tuesday.
IMF said on Wednesday that it is assessing the quality of Argentina's reporting on economic data based on a report presented by the fund’s management which recently visited the country member.
China has secured its first top-level post at the International Monetary Fund (IMF) in recognition of its growing power in the global economy. New IMF Managing Director Christine Lagarde appointed Zhu Min to a newly created deputy managing director post.
IMF Managing Director Dominique Strauss-Kahn praised Spain’s management of the current economic situation and said the budget deficit will shrink “rapidly” as the government’s overhaul of labor rules boosts economic growth.