Showing posts with the label IMF.

IMF | Europe | The Euro Area Recovery:

Image Euro Area is Recovering Strongly, But Challenges Lie Ahead IMF European Department 2-3 minutes The European Central Bank (ECB) building in Frankfurt in front of the skyline. (Photo: kontrast-fotodesign, iStock) IMF Country Focus February 7, 2022 Economic policies in the euro area have forcefully supported household incomes and protected corporate balance sheets. High levels of vaccination and increasing adaptation to the pandemic have also helped to foster a strong economic recovery. The challenge now is to coordinate the normalization of economic policy in the face of elevated uncertainty, including the evolution and legacies of the pandemic, as well as ongoing geopolitical tensions. Agility will be key, as policies become increasingly targeted to contain s

Panama: Staff Concluding Statement of the 2020 Article IV Mission

13-16 minutes - Source: IMF February 19, 2020 A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’), in most cases to a member country. Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF's Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, or as part of other staff monitoring of economic developments. The authorities have consented to the publication of this statement. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be p

Transcript of IMF Press Briefing

17-22 minutes May 23, 2019 MR. RICE :  Well, good morning, everyone and welcome to this press briefing on behalf of the International Monetary Fund.  I am Gerry Rice of the Communication Department.  As usual this morning, our briefing will be embargoed until 10:30 a.m., that's Washington time.  I'm going to make just a few brief announcements, then we will come to our colleagues in the room and take some questions online as usual where many are watching.  So, I will be brief with the announcements this morning.  Just a couple of things for your information, both related to Managing Director Christine Lagarde. May 29 to 30, that's next week, the Managing Director will be in Mexico City where she will meet with President Lopez Obrador, finance minister, central bank governor and other government officials.  She will also make a major speech at the Mexican Sen

IMF Latest News | World Economic Outlook Press Conference

30-39 minutes April 10, 2019 Mr. Anspach - Good morning, everyone. Welcome to this press conference on the World Economic Outlook. I am delighted that you could join us today. Welcome also to our colleagues who are following us online. Let me introduce to you the speakers for today's press conference. We have to my right, Gita Gopinath; she is the Economic Counsellor and the head of the IMF's Research Department. To her right we have Gian Maria Milesi-Ferretti; he is the Deputy Director of the IMF's Research Department. To his right we have Oya Celasun; she is the head of the division in charge of the World Economic Outlook in the Research Department. Gita will have some introductory remarks, and then we will be happy to take your questions. With that, I am handing the floor to Gita. Ms. Gopinath - Good morning, and welcome, everyone. A year ago, economic a

Latest News From the IMF | IMF Executive Board Completes Third Review Under Argentina's Stand-By Arrangement, Approves US$10.8 Billion Disbursement

4-5 minutes April 5, 2019 The Executive Board of the International Monetary Fund (IMF) completed today the third review of Argentina’s economic performance under the 36-month Stand-By Arrangement (SBA) that was approved on June 20, 2018. The completion of the review allows the authorities to draw the equivalent of SDR 7.8 billion (about US$10.8 billion), bringing total purchases since June 2018 to SDR 28.01371 billion (about US$38.9 billion). Following the Executive Board discussion of Argentina’s economic plan, Ms. Christine Lagarde, the IMF’s Managing Director stated: “The authorities’ policies that underly the Fund-supported arrangement are bearing fruit. The high fiscal and current account deficits - two major vulnerabilities that led to the financial crisis last year - are falling. Economic activity contracted

Latest News | Opening Remarks by Christine Lagarde on Corporate Taxation in the Global Economy

Peterson Institute for International Economics Washington, D.C. March 25, 2019 5-6 minutes March 25, 2019 AS PREPARED FOR DELIVERY Good afternoon everyone. Thank you for inviting me to join you today. It has been a little while since I have been to the Peterson Institute, and it is my pleasure to see both old friends and new faces. I last had the honor of being here in September 2012, and not long after that, Adam Posen took hold of the baton as president of the Institute. More than ever, we need an institution like Peterson. We need a lively intellectual debate and pragmatic solutions for the key issues facing the global economy. Adam: you and your colleagues have led the way here, and we are all the richer for your work. Thank you. Restoring Faith in the System Our issue today is international corporate taxation. Albert Einstein once said that “the hardest thing in the world to understand is the income tax.”

IMF Staff Concludes Visit to Panama

4-5 minutes February 14, 2019 A staff team of the International Monetary Fund (IMF), led by Alejandro Santos, visited Panama during February 6–13, 2019. At the conclusion of the visit, Mr. Santos issued the following statement: “Panama remains one of the most dynamic growing countries in Latin America, but economic activity has been less dynamic than expected, with growth estimated at 3.6 percent in the first nine months of 2018 (compared to 5.6 percent in the same period of 2017), reflecting broad slowdown in key sectors, including construction, which was partly affected by the strike in April–May. While there are clear signs of an economic recovery, the prolonged cyclical weakness has led us to revise down our growth estimate for 2018 to 3.9 percent (from 4.3 percent estimated in our recent report) and to 6.0 percent for 2019 (from 6.3 percent). The authorities estimate the overall fiscal deficit of the non-financial public sector

US dollar share of global currency reserves hits near five-year low

Global reserves are assets of central banks held in different currencies, primarily used to support their liabilities Last Published: Sat, Dec 29 2018. 07 12 PM IST Central banks sometimes use reserves to help support their respective currencies. Photo: iStock The US dollar ’s share of currency reserves reported to the International Monetary Fund fell in the third quarter to a near five-year low, while the euro’s share of reserves grew to its largest in almost four years, data released on Friday showed. The Chinese yuan’s share of allocated reserves shrank for the first time in the third quarter since the IMF began reporting its share of central bank holdings in the fourth quarter of 2016. Reserves held in Japanese yen reached a 16-year peak in the third quarter, IMF data showed. Global reserves are assets of central banks held in different currencies, primarily used to support their liabilities. Central banks sometimes use reserves to help support their respective c