Brazil's economy will likely be larger than that of Italy next year, according to the latest data from the International Monetary Fund (IMF).
“The IMF wants to make us believe that the policies which caused the crisis are now going to be part of the solution”, said Argentina’s Central bank president Mercedes Marcó del Pont following the opening of the IMF/World Bank annual assembly.
The IMF expects the Uruguayan economy to expand strongly this year, 8.5% and 5% in 2011 in a world framework which is experiencing the slow consolidation of recovery but still highly vulnerable.
The International Monetary Fund warned of considerably high price index inflation and seemed sceptic of official GDP growth reports in Argentina as it presented its World Economic Outlook report, although it forecast a 7.5 percent growth, with a strong expansion partly due to the favourable global scenery and a strong trade with Brazil.
Progress to restore global financial stability has suffered a setback in advanced economies, the International Monetary Fund said in its latest Global Financial Stability Report, with markets still sensitive to negative surprises.
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.