Browsing: IMF

Seizing the reserves could undermine the global financial system, according to the International Monetary Fund

 Egypt is seeking to raise the private sector’s contribution to the national economy to over 70%, with a focus on boosting local production and exports, Minister of Finance Mohamed Maait stated.

The International Monetary Fund (IMF) has raised concerns about overspending by the US government, warning it has been reigniting inflation risks and undermining financial stability around the world.

The IMF’s World Economic Outlook next week will highlight global growth that is marginally stronger on account of robust activity in the US and in many emerging market economies. However, there are still plenty of things to worry about, IMF chief Kristalina Georgieva said.

“Ghana will have access to about $360mln in financing once the review is approved by IMF management and formally completed by the IMF executive board,” the statement said

Inflation is easing faster than expected but has not been fully defeated, International Monetary Fund chief Kristalina Georgieva said on Thursday, urging central bankers to carefully calibrate their decisions on cutting interest rates to incoming data.

The US economy grew by a robust 2.5 percent last year, according to the US Commerce Department, far outstripping most other advanced economies

Those countries — ranging from China, the world’s second-largest economy, to default-prone Argentina — have become so embedded in the global economy, particularly via trade and commodity value chains, that they are “no longer simply on the receiving end of global shocks”

The announcement followed a record $35bln investment deal with UAE and coincided with a sharp devaluation of the currency and a 600-basis-point increase in the central bank’s overnight interest rates, breathing new life into Egypt’s flagging finances

Any decisions on the funds should be backed with “sufficient legal support”, according to a spokesperson