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.
Brazil increased gold reserves for a second month in October to the highest level in more than 11 years as emerging nations from Kazakhstan to Russia boosted holdings by more than 40 metric tons.
An agreement among Greece's international creditors on reducing its large debt pile should be rooted in reality and not in wishful thinking, the head of the International Monetary Fund said ahead of a tense meeting with European leaders.
The International Monetary Fund ratified on Thursday that “on December 17” it will assess the “quality of Argentine statistics, particularly those referred to inflation”, an issue over which it had already warned the administration of President Cristina Fernandez.
Mexican economist Alejandro Werner was named on Tuesday to the position of IMF Director, Western Hemisphere Department. His appointment will become effective early in January 2013. Mr. Werner succeeds Mr. Nicolas Eyzáguirre, who resigned effective July 26, 2012.
The world's leading economies gave themselves a bit more space on Monday to meet targets for cutting budget deficits rather than risk worsening a slowdown in many countries, chief among them the United States.
Argentine Economy minister Hernan Lorenzino struck back at Colombia’s claim that it has overtaken his country to become South America’s second largest economy behind Brazil.
Brazil’s central bank president Alexandre Tombini refuted on Monday arguments that the US expansionist monetary policy do not harm emerging countries such as Brazil.