Darling of Davos, Lagarde already has second IMF term sewn up

Jan 25, 2016

Darling of Davos, Lagarde already has second IMF term sewn up

The darling of the Davos political and financial elite, Christian Lagarde has a second term at the helm of the International Monetary Fund sewn up just days after nominations opened, despite facing possible trial in France. The former French finance minister, regularly listed among ...

IMF's Lagarde says markets need clarity on China currency

Jan 23, 2016

IMF's Lagarde says markets need clarity on China currency

Financial markets need more clarity on how the Chinese authorities are managing their currency, particularly the relationship of the yuan to the U.S. dollar, IMF Managing Director Christine Lagarde said on Saturday. Asked at a panel discussion in Davos whether she would back capital ...

Jan 5, 2016

AMRO to launch as Asian version of IMF this spring

An East and Southeast Asian equivalent to the International Monetary Fund is expected to be launched as early as this spring, tasked with keeping watch on risks in the region such as a collapsing currency. The Singapore-based ASEAN+3 Macroeconomic Research Office, or AMRO, an ...

Ukraine approves budget to unlock Western aid

Dec 26, 2015

Ukraine approves budget to unlock Western aid

The Ukrainian parliament on Friday adopted a budget for next year with a deficit of 3.7 percent of GDP, crucial for unlocking much needed aid from the IMF and Western countries. The 2016 budget was passed after an acrimonious all-night debate and was finally ...

With IMF recognition, reform now key for yuan

| Dec 1, 2015

With IMF recognition, reform now key for yuan

The International Monetary Fund’s recognition of China’s currency is a step toward encouraging its global use, but banks will remain reluctant to hold yuan unless Beijing pushes deeper financial reforms, analysts say. The Washington-based institution on Monday welcomed the yuan into its elite reserve ...

IMF gives Chinese yuan Special Drawing Rights status

Dec 1, 2015

IMF gives Chinese yuan Special Drawing Rights status

The International Monetary Fund on Monday admitted China’s yuan into its benchmark currency basket, as expected, in a victory for Beijing’s campaign for recognition as a global economic power. The decision to add the yuan, also known as the renminbi, to the Special Drawing ...

IMF poised to put Chinese yuan in elite currency basket

Nov 30, 2015

IMF poised to put Chinese yuan in elite currency basket

The International Monetary Fund is expected to approve inclusion of China’s yuan in its SDR basket of elite currencies Monday, rewarding Beijing’s strong pursuit of the global status. The IMF executive board is scheduled to meet Monday to decide on the recommendation by staff ...

Oct 31, 2015

IMF urges consumption tax higher than 10 percent in Japan

The International Monetary Fund advised Japan on Friday to raise the consumption tax rate to more than 10 percent in the future to help promote fiscal reconstruction. The IMF made the call in a report on the global economic outlook and policy challenges for ...