International Monetary Fund

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.

Tuesday, 11 June, 2013, 4:39am

Developers push ahead

IMF's David Lipton is worried by Chinese spending. Photo: Bloomberg

Concern the US Federal Reserve will wind down its bond buying program and the International Monetary Fund's latest warning about mainland government debt are not helping market participants looking to take firms public. But cash-strapped mainland developers are forging ahead with their plans.

3 Jun 2013 - 1:18am

IMF warns China of risks in investment binge

Spending on highways, along with other big-ticket projects, ensures that local government debts stay in the fast lane. Photo: Bloomberg

The International Monetary Fund has urged self-discipline on China's provincial and city governments, warning headlong investment fuelled by rapid credit growth may threaten economic sustainability. The IMF's alert underscores the challenges facing the mainland's new leaders as they seek to lessen financial risk while keeping economic growth stable.

30 May 2013 - 3:49am

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 chief Christine Lagarde escapes charges for now

Christine Lagarde

IMF chief Christine Lagarde avoided immediate charges but was named an "assisted witness" after French prosecutors questioned her for two days over a state payout to a disgraced tycoon when she was finance minister.

26 May 2013 - 6:51am

Talking points

Cardinal Joseph Zen Ze-kiun

Cardinal Joseph Zen Ze-kiun gives his views on relations between China and the Vatican under Pope Francis at a forum at Baptist University.

19 Apr 2013 - 2:48am

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

Talking points

Defence ministry publishes white paper

Defence ministry publishes white paper

16 Apr 2013 - 3:27am

IMF's Lagarde says growth to remain weak in 2013

Christine Lagarde has criticised deep spending cuts in the US.

The global economy will not gain much traction this year as Europe and Japan fail to recover, trailing other developed economies, International Monetary Fund managing director Christine Lagarde has said.

12 Apr 2013 - 4:45am

IMF chief Christine Lagarde warns some risks to global economy persist

Christine Lagarde. Photo: Xinhua

International Monetary Fund managing director Christine Lagarde said that while a "substantial portion" of the global economy appears better now than a year ago, some risks persist.

8 Apr 2013 - 6:18am

Malaysian PM was ahead of his time

Former Malaysian prime minister Mahathir Mohamad. Photo: AFP

Dr Mahathir Mohamad is having the last laugh. Rather than going cap in hand to the International Monetary Fund, the former prime minister of Malaysia was called an idiot, an ignoramus and a pariah for introducing capital controls during the Asian financial crisis. Now look what's happening in Europe, especially with the latest rescue of Cyprus' banking system.

27 Mar 2013 - 3:09am 7 comments

Cyprus president in desperate bid to prevent run on banks

People queue to use an ATM machine outside a Bank of Cyprus branch in the southern port city of Limassol after learning of a one-time levy on bank deposits. Cyprus President Nicos Anastasiades has vowed to ask the euro group of nations to “limit the impact on small depositors”. Photo: AP

President Nicos Anastasiades will on Monday attempt to persuade Cypriot lawmakers to back an EU bailout deal that slaps a levy on bank savings, amid fears of a run on accounts if he fails.

Anastasiades, in an address to the shell-shocked nation on Sunday night, said that rejecting the EU demands would have seen Cyprus exit the eurozone and face bankruptcy.

18 Mar 2013 - 5:06pm

Cypriots shocked as euro bail out includes 10pc tax on bank accounts

People queue at an ATM in Larnaca, Cyprus, yesterday. Photo: AP

Cyprus government agreed to a €10 billion (HK$101 billion) bailout that includes an unprecedented levy on all bank deposits. The debt rescue package, agreed with the euro zone and International Monetary Fund earlier in the day in Brussels, is significantly less than the €17 billion Cyprus had initially sought.

18 Mar 2013 - 9:48am

IMF calls on Britain to ease austerity drive

UK Finance Minister George Osborne has rejected an International Monetary Fund suggestion that Britain should ease up on its austerity drive, saying it could endanger the country’s credibility. Photo: AFP

The IMF’s chief economist, Olivier Blanchard, has urged Britain to lessen the pace of its austerity programme because of the risk it may fall back into recession this year.

Speaking on BBC radio, Blanchard said Britain’s annual budget statement due in March would be a good time for finance minister George Osborne to “take stock” of his programme of deep spending cuts and tax hikes.

25 Jan 2013 - 11:45am

IMF trims global growth forecast, citing eurozone

IMF trims global growth forecast, citing eurozone

The global economy will grow slightly less this year than was expected, held back by a weak eurozone that will stay mired in recession a second straight year, the IMF predicted Wednesday.

24 Jan 2013 - 10:35am