Argentina has made positive progress in reforming the quality of its economic data, the head of the International Monetary Fund said on Sunday, adding that the IMF's board is set to review the country's moves in a few days.
International Monetary Fund announced it was holding constructive talks with Argentina about addressing flawed economic data that led to an unprecedented IMF censure of a member country.
The head of the International Monetary Fund, Christine Lagarde, has warned that a US default could tip the world into recession. In a US TV interview she said a default would result in massive disruption the world over.
Argentina will offer 500 million dollars in sovereign bonds to resolve disputes with corporations at a World Bank arbitration panel, a financial daily newspaper reported on Thursday.
The International Monetary Fund on Tuesday cut its economic growth forecast for Latin America and the Caribbean, blaming, at least in part, poor infrastructure and lower commodity prices. In its latest World Economic Outlook report, the IMF noted that emerging markets generally were facing a dampening of growth amid less supportive external conditions and domestic supply-side constraints.
The International Monetary Fund trimmed its forecasts for global output for the sixth time since early last year, saying stronger growth in most advanced economies would fail to make up for a more sluggish expansion in the developing world
The IMF raised its 2013 economic growth forecast for Uruguay, but lowered its estimates for 2014, saying growth had moderated to a more sustainable pace after a decade of strong expansion.
The International Monetary Fund urged US policymakers to support major reforms at the global lender and bury political differences over the budget to ease one source of risk to the economy and markets.
Advanced economies led by the United States will increasingly drive global growth while emerging countries are at risk of slowing due to tighter US monetary policy, the IMF said in a note according to Reuters news agency.
The Brazilian economy is on a gradual upturn from the slowdown begun in mid-2011, the IMF says while urging Brasilia to continue efforts to rein in inflation. The country's 12-month inflation reached 6.27% in July, close to the upper limit of the government target of 6.5%.