Category Archives: International Monetary Fund (IMF)

IMF accused of ‘reckless lending’ to debt-troubled states

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Jubilee Debt Campaign says the Fund broke its own rules by not ensuring sustainable debt burden

Debt campaigners have accused the International Monetary Fund of encouraging reckless lending by extending $93bn (£75bn) of loans to 18 financially troubled countries without a debt restructuring programme first.

In advance of the IMF’s annual meeting in Washington next week, the Jubilee Debt Campaign (JDC) said the the Fund was breaking its own rules by providing financial support without ensuring that the debt burden was sustainable.

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The IMF is hurting countries it claims to help | Mark Weisbrot

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The fund browbeats poor countries into accepting neoliberal measures that exacerbate inequality and economic distress

When people think of the damage that wealthy countries – typically led by the US and its allies – cause to people in the rest of the world, they probably think of warfare. Hundreds of thousands of Iraqis died from the 2003 invasion, and then many more as the region became inflamed.

Related: Brexit: EU ‘would block trade deal if Britain reneged on bill’

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Donald Trump’s trade war hurting China more than US, says IMF

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Brexit uncertainty and impact of Iran sanctions also likely to slow world growth, says Fund

Donald Trump’s claim that his protectionist measures are hurting China more than the US has received support from the International Monetary Fund in new forecasts showing how a fresh slowdown in the global economy has been concentrated in emerging economies.

The Washington-based IMF said the outlook was gloomier than it envisaged three months ago due to the tit-for-tat tariff war between the world’s two biggest economies, Brexit uncertainty and the impact of sanctions against Iran on oil prices.

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George Osborne’s ambitions over IMF top job prompt criticism

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Former UK chancellor’s austerity agenda will count against him, say opponents

George Osborne’s interest in running the International Monetary Fund has met immediate criticism because of the former chancellor’s austerity policies and Brexit-related question marks over the UK’s international standing.

Osborne, the editor of the Evening Standard, has signalled to friends that he views himself as a potential candidate to replace Christine Lagarde, the current head of the Washington-based fund, who was nominated to lead the European Central Bank this week.

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Christine Lagarde faces ECB test of legendary diplomatic skills

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European Central Bank provides an arena split between anti-austerians and expansionists

Christine Lagarde will take up the position of head of the European Central Bank as a self-confessed economic outsider who has preferred to emphasise her ability as a listener and tough negotiator during her seven years as managing director of the International Monetary Fund.

A lawyer by training, the former French finance minister is credited with turning around the Washington-based IMF after it was thrown into turmoil by the abrupt resignation of her predecessor Dominique Strauss-Kahn following unproven allegations of sexual assault and attempted rape.

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US-China trade war to cost $455bn in lost output, says IMF

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Christine Lagarde says world must avoid the ‘self-inflicted wounds’ of a tit-for-tat wrangle

The International Monetary Fund has called for a speedy end to the deepening trade war between the United States and China after calculating that the tit-for-tat tariffs will cost $455bn (£357.5bn) in lost output next year – more than the size of South Africa’s economy.

Christine Lagarde, the IMF’s managing director, underlined her organisation’s growing concern at the most serious outbreak of trade tension since the 1930s and said “self-inflicted wounds” had to be avoided.

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IMF warns that tech giants stifle innovation and threaten stability

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Fund report calls for profits to be targeted by a tougher international tax regime

The International Monetary Fund has warned that the market power exercised by a small number of global companies threatens to stifle innovation and make it harder for central banks to deal with recessions.

Adding its contribution to the growing public debate about the corporate power exercised by the US tech giants such as Google, Amazon, Apple and Facebook, the IMF said it would be concerned if there was any further increase in the clout of already dominant firms.

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