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Ireland bailout programme 'on track', says troika

Ireland is on course to receive a further 2.4 billion euros ($3.15 billion) in international bailout funds, after the so-called troika of the IMF, EU and the European Central Bank completed its 10th review of the economic situation. Ireland has made "significant progress" in repairing its financial sector and restoring stability to its public finances but still needs to address stubbornly high unemployment, the troika of international creditors said.

IMF says Serbia mission a "health check", not loan talks

By Aleksandar Vasovic BELGRADE (Reuters) - The International Monetary Fund will not discuss a fresh loan deal on a mission to Serbia starting this week, it said on Tuesday, describing the visit as a "health check" of the Balkan country's economy. Serbia's government says it wants a precautionary loan deal with the Fund, to restore relations after the collapse of a previous 1 billion euro ($1.3 billion) arrangement last year and a row over the independence of the central bank.

IMF says Egypt economy deteriorating, needs reform plan to move ahead with $4.8 billion loan

WASHINGTON - The IMF says Egypt's financial situation is deteriorating and the organization is awaiting updated economic information and reform plans from the government in Cairo before it can move ahead with a deal on a $4.8 billion loan. Egypt's negotiations with the IMF for the loan have dragged on for more than a year. The deal for the loan is expected to usher in widely unpopular austerity measures.

Greece 'making progress' on long path to growth

Greece is "making progress" in overcoming "deep-seated problems", the International Monetary Fund said on Monday, but finding a way to get the economy growing again after years of recession remains vital, it added. "Progress on fiscal adjustment has been exceptional by any international comparison," the IMF said in a regular report capping the visit of an audit team. "Greece has also made a significant dent in its competitiveness gap, " the report said.

IMF notes Greece 'progress' on path to growth

Greece is "making progress" in overcoming "deep-seated problems", the International Monetary Fund said on Monday, before adding that Athens must still find a way to get the economy growing again after years of recession. "Progress on fiscal adjustment has been exceptional by any international comparison," the IMF said in a regular report capping the visit of an audit team as part of the country's bailout programme. "Greece has also made a significant dent in its competitiveness gap," the report said.

ADB faces funding crunch, warns India

The Asian Development Bank is facing a funding crunch as the multilateral lending agency seeks to reduce widespread poverty in emerging market nations and boost infrastructure, India warned Saturday. The Asia-Pacific region, despite boasting the world's fastest-growing economies, is still home to around two-thirds of the world's poor, with some 1.5 billion people living on less than $2 a day.

IMF approves $932 mn loan for Jamaica

The International Monetary Fund's executive board approved a $932 million loan program Monday for Jamaica aimed at helping the government begin cutting its borrowings and spark economic growth. The loan is part of a $2 billion package from the IMF, the World Bank and the Inter-American Development Bank that aims to support a sweeping restructuring program for the impoverished Caribbean island nation. For its part, the IMF was immediately releasing an initial disbursement of $207 million from the four-year loan.

World growth still too slow to generate jobs: IMF official

The world economy is still not growing fast enough to generate jobs for tens of millions who have become unemployed but it is strengthening gradually, a top IMF official said Wednesday. While global growth is seen at 3.3 percent in 2013 and an even better four percent next year, this masks significant divergence in prospects, said Naoyuki Shinohara, deputy managing director of the International Monetary Fund.

China nears US in money to Africa

China committed more than $75 billion to Africa in the past decade, coming close to the level of US money although the nature of Beijing's support was far different, a study said Monday. The database released by the Center for Global Development aims to be the most comprehensive account yet of foreign assistance by China, which has faced criticism in Western countries suspicious of Beijing's motives.

China nears US in money to Africa

China committed more than $75 billion to Africa in the past decade, coming close to the level of US money although the nature of Beijing's support was far different, a study said Monday. The database released by the Center for Global Development aims to be the most comprehensive account yet of foreign assistance by China, which has faced criticism in Western countries suspicious of Beijing's motives.
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