International Monetary Fund

Make reforms while sun shines on world economy

London - Muslimchronicle

International Monetary Fund chief Christine Lagarde has urged France and other countries to push through reforms "while the sun is shining" on the global economy. In an interview with France's Le Journal du Dimanche published Sunday Lagarde said the strength of the global economic recovery had taken the IMF by surprise. "In 2017, for the first time in a long time, we revisedRead more

stop investing in fossil fuels

Paris - Muslimchronicle

The development of oil, gas and coal energy must stop in order to avoid the worst ravages of global warming, 80 top economists said Thursday, days ahead of a climate summit in Paris. "We call for an immediate end to investments in new fossil fuel production and infrastructure, and encourage a dramatic increase in investments in renewable energy," they wroteRead more

IMF warns on brewing risks in China's financial system

Beijing - Muslimchronicle

The International Monetary Fund on Thursday warned of brewing risks in China's banking system as it found dozens of crucial lenders needed to beef up their defences against possible financial crises. The IMF report comes a day after regulators in Beijing drafted new rules to strengthen bank funding, and follows a number of alerts about a ballooning debt problem inRead more

NAFTA uncertainty threatens Mexico's economy

Washington - AFP

Uncertainty over the NAFTA trade agreement poses a risk to economic growth in Mexico, the International Monetary Fund said Monday as US, Mexican and Canadian negotiators geared up for new talks. The IMF said in a report that Latin America's second-largest economy was weathering a difficult international environment relatively well, but could see growth take a hit because of USRead more

IMF urges Argentina to step up pace of economic reforms

Washington - Muslimchronicle

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IMF warns of protectionist measures taken by countries

London - Muslimchronicle

Protectionist sentiment has not yet gone beyond mere words, International Monetary Fund Managing Director Christine Lagarde said on Wednesday, but would hurt Asian economies with open and free markets if it did. Lagarde brushed off the concerns of some investors that the divergent monetary paths of major central banks could disrupt Asian capital flows, stressing that policymakers had the toolsRead more

President Al-Sisi says he will not seek a third term as leader

Cairo - Muslimchronicle

Egypt's President Abdel Fattah al-Sisi told CNBC that he will not seek a third term, and instead respect the country's constitution which permits its leaders to serve only two four-year terms. "It doesn't suit me as a president to stay one more day against the will of the Egyptians. This is not talk for TV, those are principles I embraceRead more

IMF sanctions Venezuela for failing to provide economic data

Washington - AFP

The International Monetary Fund sanctioned Venezuela on Friday for failing to provide economic data as required of all members. The sanction came on the same day the embattled government in Caracas announced it was calling a meeting of creditors for November 13 to try to restructure its foreign debt estimated at $150 billion. The IMF move carries no financial penalty,Read more

Governor of Moroccan Central Bank ranked first as the best in the world

Casablanca - Fatima Al Qabani

Abdellatif Jouahri, Bank Al Maghrib’s Governor, was named on Saturday “Best Central Bank Governor in the World” by the American magazine Global Finance. The award was received by Anis El Youssoufi, head of the International Relations Department at Bank-Al Maghrib, on the behalf of Jouahri. The award ceremony was held in Washington D.C., at the National Press Club alongside theRead more

US-world divide spills out at IMF-World Bank meetings

Washington - Muslimchronicle

The growing split between the United States and the rest of the world spilled into the annual meetings of the International Monetary Fund and World Bank in Washington this week. The US administration showed a diminished view of the Bretton Woods institutions that shaped a US-led order after World War II, rejecting efforts to expand their activities, and defendingRead more