International Monetary Fund (IMF)
IMF-WB-ADB in bailout package for Sri Lanka
Sri Lanka has been promised a bailout package from the International Monetary Fund, World Bank and the Asian Development Bank (ADB) to help shore up depleted foreign exchange reserves, Central Bank officials said. The officials, who declined to be named,…
Jakarta sticks to controversial c.bank law changes
Indonesia said on Feb. 12, 2001 it would stick to proposed amendments to the central bank law that would effectively sack the existing board of governors, a move expected to add pressure to already strained relations with the IMF. The International…
IMF reviews Pakistan performance for standby loan
Pakistan began talks with an International Monetary Fund mission on Feb. 8, 2001 keen to convince it that a revenue shortfall should not prevent payment of a second tranche of a standby loan, officials and analysts said. Analysts said the mission, led by…
IMF mission to meet Brazilian ministers
An International Monetary Fund (IMF) mission that recently arrived in Brazil will meet the Brazilian Minister of Finance Pedro Malan. The IMF mission, which will stay in Brazil until Feb. 16, 2001 has planned a meeting on Feb. 14 with Martus Tavares, the…
IMF warns on UK's euro plight
Britain's record as a high inflation country meant that the price of joining the single currency would be higher taxes or curbs on public spending, the International Monetary Fund warned on Feb. 6.Fuelling the intense political row over the euro, the…
IMF urges South Korea to fine-tune fiscal reform
Despite meeting international standards, the government needs to work harder to improve its fiscal transparency by being more specific in its fiscal reports and by simplifying its tax system, the International Monetary Fund (IMF) said on Feb 6, 2001.The…
IMF concerned on Bank Indonesia govt bond buying
Indonesia's chief economics minister said on Feb 5 the International Monetary Fund had objected to an amendment to the central bank law that would allow the institution to buy government bonds in the primary market. "The IMF disagreed...the central bank…
IMF says Norway economy to grow 2.4% in 2001
The International Monetary Fund said on Feb. 5, 2001, it foresaw continued good growth for Norway, the world's second-largest oil exporter, this year although at a slightly more modest clip than in 2000.The Fund expected Norwegian gross domestic product…
IMF praises Moldova, promises to extend $12m Feb
The International Monetary Fund praised Moldova's government policies on Feb. 2, 2001, and said it would disburse the next $12 million tranche in February 2001, the head of the IMF monitoring mission said. "All objectives of the programme are met,"…
IMF says ECB right to wait for more info on rates
The European Central Bank should wait for more information about core inflation in the euro zone and the growth outlook for the U.S. economy before cutting interest rates, the International Monetary Fund said. In a statement on euro-zone economic…
IMF says Canada must be wary as U.S. slows
The International Monetary Fund said on Feb. 1, 2001, that Canada was well placed to cope with a slowing U.S. economy, but told its central bank to be ready to cut interest rates if the U.S. slowdown became a dive. In its annual staff assessment of the…
Turkish cbank meets asset targets under IMF plan
The Central Bank of Turkey on Feb 1 said it has comfortably achieved the net domestic assets target (NDA), and net international reserve levels it committed to under its anti-inflation program agreed with the International Monetary Fund. The bank said in…
IMF OKs Colombia's 2001 economic program- fin min
The International Monetary Fund has approved Colombia's 2001 economic program, including a higher budget deficit goal of 2.8% of the gross domestic product, Finance Minister Juan Manuel Santos said Jan. 30, 2001. "The agreement basically consists of a…
IMF to start exploratory talks with Romanian govt
The IMF will visit Bucharest in early February to discuss with the newly elected Romanian Prime Minister Adrian Nastase how he plans to reduce inflation, restructure state-owned industries and create a healthier financial-banking system, the daily…
Russia cbank chief sees few results from IMF visit
Russia's central bank chief said on Jan. 27, 2000, he expected little from a visit to Moscow by an IMF mission next week, although agreement with the Fund is needed for Russia to start restructuring talks with the Paris Club. He also saw no reason why…
IMF to cut world growth forecast sharply
The deputy head of the International Monetary Fund said on Jan. 27, 2001, the IMF may cut its 2001 world growth forecast to around 3.5 percent from 4.2 percent and warned Japan had little scope to spur growth soon. Stanley Fischer, first deputy managing…
Indonesia plans talks with IMF, World Bank
Indonesia will hold talks with top IMF and World bank officials during the World Economic Forum (WEF) in Davos to determine if it can secure funds to help prop up its shattered economy. Chief economics minister Rizal Ramli is due to meet World Bank chief…
IMF stresses need for BI independence
The International Monetary Fund (IMF) reiterated on Jan. 25, 2001, the importance of maintaining the independence of Bank Indonesia and its monetary policy to ensure the recovery of the country's economy. "It's important for Indonesia to maintain the…
IMF welcomes Sri Lankan rupee free float
The International Monetary Fund Jan. 24 welcomed Sri Lanka's free float of the local currency, saying the exchange rate could now be determined more freely by market forces. "The new exchange rate arrangement is in keeping with the broader reform agenda…
Slovenia should insist on IMF formula
There are no sound reasons for changing the IMF formula to divide the assets which used to belong to the former Yugoslavia and are currently deposited in the Bank for International Settlements (BIS), said the parliamentary finance committee on Jan. 24.
IMF concludes Article IV consultation with Panama
On Jan 22, 2001 the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Panama. Below is the Public Information Notice issued by the IMF. The IMF points out the slowing growth rate of Panana, but recognise…
US in economic slowdown but far from recession-IMF
The International Monetary Fund has said that the United States is facing a slowdown in growth that will curb the global economic expansion. But the US economy is far from a recession and is nowhere near contracting, added the IMF's first deputy managing…