Countries risk undermining the global economic recovery if they use their currencies to try to boost domestic growth, the head of the International Monetary Fund warned on Tuesday in a newspaper interview.
International Monetary Fund Managing Director Dominique Strauss-Kham sees no major danger of an escalation of currency devaluations as countries seek to boost economic growth.
The Executive Board of the International Monetary Fund (IMF) has approved making financial stability assessments under the Financial Sector Assessment Program (FSAP) a regular and mandatory part of the Fund’s surveillance for members with systemically important financial sectors.
The global recession has created a “wasteland of unemployment” that is likely to leave scars on society for years to come, unless action is taken to address the jobs crisis, IMF Managing Director Dominique Strauss-Kahn warned.
Argentina is still opposed to having its economy reviewed by the International Monetary Fund (IMF), government ministers said on Thursday, refuting recent media reports to the contrary.
Despite a large rise in the two months to August, wheat prices remain well below levels reached during the boom in 2008 and market pricing indicates that the risks of further large price spikes have eased, says a report from the IMF.
The world economy is recovering moderately but still faces challenges such as the need for medium-term fiscal consolidation, IMF First Managing Director, John Lipsky said on Sunday.
A top International Monetary Fund official called for the creation of an emergency lending facility as part of a global toolkit aimed at preventing the spread of financial crises.
The International Monetary Fund reiterated its forecast for Brazil’s economy to expand 7.1% this year, as result of capital inflows and the expansion of credit. However the IMF also cautioned about the official credit policy of the country’s development bank.
United States economic growth slowed between April and June, with GDP growing by an annualised rate of 2.4%, the US Commerce Department announced Friday. This compares with an annual rate of 3.7% in the previous quarter.