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IMF cuts Russia 2013 growth forecast to 2.5 percent

The International Monetary Fund on Tuesday cut its forecast for economic growth in Russia in 2013 to 2.5 percent from its previous projection of 3.4 percent due to weak investment and external demand. "Russia's growth has slowed while inflation remains high. Economic activity has been constrained by weak investment and external demand," the IMF said in a statement after a staff visit to Russia this month. sjw/txw

IMF approves $1.27 billion disbursement to Ireland

By Anna Yukhananov WASHINGTON (Reuters) - The International Monetary Fund said Ireland was on track with the conditions of its bailout program, and disbursed the European country's next chunk of aid on Monday. The IMF, one of a trio of lenders overseeing Dublin's 85 billion euro ($113 billion) bailout, said Ireland's economy grew modestly in 2012 for the second year in a row and employment during the first quarter of this year was up 1 percent from the same period a year ago.

Resource companies ripping off Africa: AfDB chief

By Carolyn Cohn LONDON (Reuters) - Developed world mining and energy companies operating in Africa should pay more taxes to help the world's poorest continent climb out of poverty, the president of the African Development Bank said on Sunday.

Greece to ask lenders to lower asset sale target: source

ATHENS (Reuters) - Greece plans to ask foreign lenders to reset its asset sales target as its failure to sell natural gas firm DEPA means it will fall short of its goal this year, a senior government official said on Tuesday. Greece will miss its asset sale target by roughly 1 billion euros this year after its privatization schedule was derailed again on Monday when Russian energy giant Gazprom <GAZP.MM> withdrew from the running to buy DEPA.

IMF's Lagarde says US government cutting spending too much too fast

WASHINGTON - The International Monetary Fund chief criticized the U.S. on Tuesday for cutting back government spending too much too fast, saying it was taking a toll on growth in one of the world's main economic engines. Christine Lagarde also said upbeat financial markets are out of whack with a sluggish global economy that is showing signs of slowing even further. In an overview of trouble spots around the world, Lagarde said the U.S. had come a long way in the five years since it triggered the global economic crisis with financial excesses.

Stiglitz urges Japan to mitigate impact of planned sales tax hike

Nobel economics laureate Joseph Stiglitz warned Friday that Japan will need to take action to mitigate the negative impact of the planned consumption tax hike next year. "It is probably too premature to increase the taxes alone," Stiglitz, who won the Nobel Prize in 2001, told reporters in Tokyo, where he is attending an international conference on Japanese Prime Minister Shinzo Abe's economic policies, dubbed "Abenomics."

IMF deputy chief expresses hope for Japan's economic growth strategy

The International Monetary Fund's deputy chief on Thursday expressed hope that Japan will draw up a growth strategy to give market participants the impression that the country's economy will change, a Finance Ministry official said. IMF First Deputy Managing Director David Lipton also said during 30-minute talks with Finance Minister Taro Aso that the world's third-largest economy should carry out fiscal rehabilitation for the nation's future growth, the Japanese official said.

IMF urges Beijing to launch reforms, control credit boom; growth forecast trimmed

BEIJING, China - China needs to make a "decisive push" to launch new market-oriented reforms and has to control rapid credit growth that could lead to financial problems, the International Monetary Fund said Wednesday. The fund trimmed its growth forecast for China this year from 8 per cent to 7.75 per cent due to weaker global demand but said the Chinese economy should remain robust.

Libya economy surges following revolution

Libya's economy surged 105 percent in 2012 and should grow 20.2 percent this year, as it continues recovering from the meltdown that accompanied the uprising that ousted Moamer Kadhafi, the IMF said on Thursday. The International Monetary Fund said in its latest assessment of the oil-rich North African country's prospects that, while the "political situation is normalising, the government lacks control over parts of the country.

Myanmar reforms bearing fruit, economic growth to gain momentum: IMF

Myanmar's economy is expected to grow 6.75 percent in fiscal 2013, ending March 2014, somewhat accelerating from an estimated 6.5 percent expansion a year earlier, the International Monetary Fund said Wednesday after a two-week review of the country's economy. "The authorities' ambitious reform program is bearing fruit, with macroeconomic stability and high investor interest," the IMF said in a statement.
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