The International Monetary Fund has released an assessment critical of Ireland’s actions after receiving bailout funds.
The report says that Irish banks have made “inadequate progress” due to non-performing loans and not dealing well with tackling home repossessions. The IMF said it’s likely the banks are still losing money before putting aside funds to cover bad loans. Continue reading
The Egyptian government is seeking a massive loan from the International Monetary Fund to help the country’s foundering economy.
The negotiations between government officials and IMF representatives in Cairo is contingent on proving that the nation is serious about economic reform.
The Egyptian pound has lost ten percent of its value since the beginning of 2013. Inflation has significantly risen and the lack of funds has caused the government to cut back on imports. Continue reading
The International Monetary Fund cut its projections for global economic growth by .3% and said that there are considerable possibilities of further deterioration in the world economic outlook.
One of the IMF’s biggest downgrades focused on the United Kingdom which had been forecasted to show very small growth through the rest of 2012. The revised forecast is calling for a .4% shrinkage. The Fund still believes that at least 1% growth for the UK is possible in 2013 but that forecast was also cut by .3%. Continue reading
President Mohammed Mursi took the opportunity to request a loan for the nation during a visit from the head of the International Monetary Fund.
IMF chief Christine Lagarde promised that the IMF would respond to the request quickly and Egyptian Prime Minister Hisham Qandil told the press he hoped to have the deal finished by the end of the year. Continue reading
The International Monetary Fund (IMF) has stated that the United States economic recovery “remains tepid” and has cut the estimated growth of the US economy by a tenth of a percentage point to 2% overall.
The IMF said that the eurozone debt crisis is a driving factor in the revised estimate but also uncertain domestic policies and the upcoming Presidential election. The IMF report also stated that “house prices have stabilized recently but remain at depressed levels.” Continue reading
The International Monetary Fund is lending $157 million to Malawi in an attempt to save the country’s flagging economy.
The country’s economic crisis is attributed to recently deceased leader Bingu wa Mutharika who had long been criticized for his human rights record and handling of the nation’s economy. Continue reading
