China's economy to grow 7.5 per cent this year, IMF says as it raises global forecast

“The basic reason behind the stronger recovery is that the brakes to the recovery are progressively being loosened,” said Olivier Blanchard. Photo: Reuters

The International Monetary Fund raised its global growth forecast for the first time in nearly two years on Tuesday, saying fading economic headwinds should permit advanced countries to pick up the mantle of growth from emerging markets.

Wednesday, 22 January, 2014, 2:57pm

IMF to use unexpected profits from gold sales to fund loans to poorest countries

Windfall profits from IMF gold sales at high prices will sustain the Poverty Reduction and Growth Trust. Photo: Reuters

The International Monetary Fund announced on Thursday it has harnessed windfall gold profits from member countries to fund loans to the world’s poorest countries in the coming years.

11 Oct 2013 - 11:36am

Euro bailout Troika nears end of road with patchy record

Critics say that putting the European Central Bank, the European Commission and the International Monetary Fund in harness together has had mixed results. Photo: AFP

If the Troika that handles bailouts of distressed euro zone countries were a soccer team, it would probably be looking for a new manager after achieving a track record of one win, one loss and one draw.

11 Jun 2013 - 12:33pm

Greece awakens from coma but recovery likely to be anaemic

Deputy director of the International Monetary Fund (IMF) and mission chief for Greece Poul Thomsen (centre) arrives at the Finance Ministry in Athens to meet with the Greek finance minister on Monday. Photo: AFP

Greek business is awakening from a coma; the long-forgotten sound of drills and hammers can be heard on Athens construction sites again while customers queue calmly at banks to deposit cash rather than to withdraw it in panic.

11 Jun 2013 - 10:58am

The IMF's public mea culpa on that big fat Greek bailout

There are many disparate interests in the euro area.

It takes a big person to acknowledge he was wrong, and the International Monetary Fund has now repeatedly admitted to the failure of its euro-area rescue policies.

11 Jun 2013 - 4:39am

IMF backs Japan’s ’Abenomics’, but warns of risks

David Lipton, the first deputy managing director of the IMF, sees no problem with the sharp fall in the yen – as long as it is accompanied by fiscal and structural reform. Photo: AFP

The International Monetary Fund on Friday gave a cautious thumbs up to Japan’s economy-boosting efforts, but warned there are “considerable downside risks” if Tokyo doesn’t chop its huge national debt.

31 May 2013 - 2:00pm

IMF cuts China's growth outlook on weak demand

Analysts say mainland leaders must boost domestic spending to help rebalance the economy. Photo: EPA

The International Monetary Fund has cut its forecast for China's economic growth this year, despite expectations that an expansion of credit and a mild recovery in the global economy will offer solid support to activity in the second half of this year.

30 May 2013 - 3:45am

IMF launches broad review on sovereign debt restructurings

The International Monetary Fund has begun to rethink how it should handle bailouts for countries that run into financial trouble, with staff suggesting private-sector creditors should regularly be required to bear some of the load.

24 May 2013 - 1:29pm

IMF releases first bailout funds for Cyprus

IMF Managing Director Christine Lagarde said that stabilising the banking sector of Cyprus was an “immediate priority.” Photo: EPA

The International Monetary Fund approved a US$1.33 billion (HK$10.3 billion) bailout loan for Cyprus on Wednesday and released the first US$110.7 million (HK$859.2 million) to the Cypriot government.

16 May 2013 - 1:06pm

Move fast when overheating hits, IMF warns Asia

The IMF says Asia will lead a three-speed global recovery.

Asian policymakers must be ready to respond "early and decisively" to overheating risks in their economies stemming from rapid credit growth and rising asset prices, the International Monetary Fund said.

30 Apr 2013 - 5:18am 1 comment

IMF calls for build-up of confidence

Christine Lagarde. Photo: Reuters

The IMF has urged leading powers to step up growth and reforms to generate jobs, warning that confidence in the global economy was in short supply. It also warned emerging and smaller economies to shore up their financial defences as leading economies charge up growth with extraordinary monetary stimulus and low interest rates.

22 Apr 2013 - 5:06am

World Bank and IMF join forces to eradicate extreme poverty by 2030

Refugee children play on an old plane that crashed at the Yida camp in South Sudan. Most of the world's extreme poverty cases are concentrated in Africa. Photo: Reuters

Kim, a US physician and global health activist who became head of the Bank last July, announced two weeks ago the plan to eradicate extreme poverty - defined as living on less than US$1.25 a day - to 3 per cent or less of the world by 2030.

22 Apr 2013 - 5:48am

French court summons IMF chief: report

Before being appointed to the helm of the IMF, Christine Lagarde was head of the economy and finance ministry in Paris between 2007 and 2011. Photo: Reuters

IMF chief Christine Lagarde has been summoned by a French court to testify in the probe into a high-profile scandal when she was a government minister, online journal Mediapart reported late Wednesday.

18 Apr 2013 - 12:13pm

IMF cuts forecast for China's growth

Japan is the one bright spot among leading economies, but its huge debt load raises questions of sustainability. Photo: Reuters

The International Monetary Fund lowered its forecast for China's economic growth this year to 8 per cent yesterday, a day after Beijing announced a shock downturn in the first quarter.

17 Apr 2013 - 4:56am

Budget cuts deal blow to growth in US, IMF says

Christine Lagarde

US gross domestic product will expand 1.7 per cent this year, lower than a previously forecast 2 per cent advance, according to the draft report, which was presented to the IMF board last week and may be subject to revisions before its scheduled April 16 release. The fiscal tightening that took effect in the US last month will restrain consumption in the country's economy temporarily, the report said.

13 Apr 2013 - 4:51am