IMF’s Lagarde says Brexit extension avoids ‘terrible outcome’
Businessam Staff
April 11, 2019
Christine Lagarde, International Monetary Fund managing director said on Thursday the delay of Britain’s separation from the European Union avoids the “terrible outcome” of a “no-deal” Brexit that would further pressure the global economy. Lagarde told a news conference, however, that the arrangement will prolong uncertainty and won’t resolve the issues between Britain and the […]
IMF cuts global growth outlook amid trade tensions, Brexit worries
Businessam StaffApril 9, 2019
The International Monetary Fund on Tuesday cut its global economic growth forecasts for 2019 and said growth could slow further due to trade tensions and a potentially disorderly British exit from the European Union. The global lender said some major economies, including China and Germany, might need to take short-term actions to prop up growth […]
IMF pessimism, trade tensions trigger global equities’ free fall
Businessam StaffJanuary 22, 2019
Pessimism about global growth drove down world shares and commodity markets on Tuesday and left investors seeking refuge in the dollar, government bonds and gold. The International Monetary Fund’s warning of a darkening outlook on Monday after China’s confirmation of its slowest growth rate in nearly 30 years and amid more head-scratching over Brexit continued […]
IMF projects 3.8% growth for Cameroon in 2018, 4.4% in 2019 on infrastructure projects, African Cup of Nations
Adesola AfolabiNovember 13, 2018
The International Monetary Fund (IMF) Tuesday projected Cameroon’s overall economic growth will reach 3.8 percent in 2018, from 3.5 percent in 2017. According to the IMF, the projected slight recovery in economic growth is mainly driven by construction activity related to public infrastructure projects and the 2019 Africa Cup of Nations (CAN). “Medium-term prospects remain […]
IMF says progress has been made on support to Argentina
Adesola AfolabiSeptember 5, 2018
Christine Lagarde, the International Monetary Fund’s (IMF) managing director, has said progress has been made with Argentina on how best the Fund can support the country in the face of renewed financial volatility and a challenging economic environment, adding that “discussions will now continue on a technical level.” The IMF released Lagarde’s remarks early Wednesday, […]
IMF forecasts 7.5% growth for India in 2019-20
Adesola AfolabiAugust 9, 2018
The International Monetary Fund (IMF) has projected a 7.5 percent growth for India in fiscal 2019-2020 on strengthening investment and robust private consumption. The IMF in a report published Tuesday, equally said the near-term macroeconomic outlook for India is “broadly favourable.” The report specifically noted that growth is forecast to rise to 7.3 percent in […]
IMF appoints Rhoda Weeks-Brown as general counsel, director of legal department
Adesola AfolabiJuly 31, 2018
Rhoda Weeks-Brown has been appointed as the International Monetary Fund (IMF) general counsel and director of its legal department, Christine Lagarde, managing director of the IMF announced on Tuesday. According to Lagarde, throughout her 21-year career with the IMF, Weeks-Brown has contributed to virtually all aspects of the institution’s work. “In addition to a sharp […]
IMF projects 1,000,000% inflation rate in Venezuela by year-end
Adesola AfolabiJuly 24, 2018
The International Monetary Fund (IMF) is projecting a surge in inflation to 1,000,000 percent by end of 2018 to signal that the situation in Venezuela is similar to that in Germany in 1923 or Zimbabwe in the late 2000s. According to Alejandro Werner, head of the IMF’s western hemisphere department Venezuela remains stuck in a […]
Global expansion strong but less even, more fragile, under threat – IMF
Businessam StaffJuly 16, 2018
Amid rising tensions over international trade, the broad global expansion that began roughly two years ago has plateaued and become less balanced, according to Maurice Obstfeld, professor and chief economist at the International Monetary Fund in an IMFblog article published Monday, July 16, 2018. “In our latest World Economic Outlook Update, we continue to project […]
Trump’s Tax overhaul could trigger global ‘race to the bottom,’ IMF warns
Businessam StaffFebruary 17, 2018
Christine Lagarde, IMF Managing Director said the Trump administration’s $1.5 trillion tax cut could prompt other nations to follow suit, fueling a “race to the bottom” that risks hemming in public spending. While the impact of the package passed by Congress in December is only just beginning to be understood, its effects are likely to include […]