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

Kyodo News InternationalMay 22, 2013 20:01
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.

IMF praises British government's flexibility over austerity, but warns more growth needed

The Canadian PressMay 22, 2013 07:45
LONDON - The International Monetary Fund has called on Britain to do more to support the economic recovery, urging the government Wednesday to speed up investment in infrastructure and come up with a plan to privatize its bailed out banks. In a review of Britain's policies, which had been hotly anticipated after the IMF last month criticized the government's focus on budget austerity, the IMF applauded the greater "flexibility" shown by Treasury chief George Osborne.

IMF says Egypt budget gap worrying, urges Yemen to finalize economic program

May 22, 2013 00:03
By Martin Dokoupil DUBAI (Reuters) - Egypt's worsening fiscal gap is a concern but the International Monetary Fund is still ready to continue talks on a $4.8 billion loan once Cairo completes a review of its economic program, a senior IMF official said. "We are ready to engage with them on reviewing and finalizing the program as soon as they completed it," Masood Ahmed, IMF Director for the Middle East and North Africa, told Reuters in an interview on Tuesday.

IMF says Cyprus economic outlook uncertain, faces risk of even deeper recession

The Canadian PressMay 17, 2013 12:00
WASHINGTON - The International Monetary Fund said Friday that substantial risks still loom for the Cypriot economy even after a multi-billion dollar international bailout aimed at averting a debt default. A new IMF report predicted a deep recession in Cyprus this year and next and said there is a danger that the downturn could be even more severe if authorities do not adhere strictly to conditions imposed as part of the $13 billion bailout deal.

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

The Canadian PressMay 9, 2013 16:46
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.

IMF: Greece making progress but must do more on taxes

May 8, 2013 18:01
By Anna Yukhananov WASHINGTON (Reuters) - Greece has made progress in reducing government debt and improving its competitiveness, but needs to follow through on structural reforms to ensure its economy recovers, the IMF said on Monday after a mission visit to the country.

IMF notes Greece 'progress' on path to growth

Agence France-PresseMay 6, 2013 11:31
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.

IMF 'carefully' monitoring capital flows to Asia

Agence France-PresseApril 29, 2013 07:15
The International Monetary Fund said Monday it is "carefully" monitoring massive capital flows into Asia and urged the region's policymakers to guard against risks of overheating. The level of the inflows -- which have sent Asian stocks and property prices skyrocketing -- are close to or above historical trends in most economies including those in Southeast Asia, the IMF said. "We are seeing financial pressures -- you may call them imbalances, or the risk of imbalances -- rising," said Anoop Singh, director for the IMF Asia and Pacific Department.

IMF chief backs Spain's two-year deficit delay

Agence France-PresseApril 26, 2013 13:15
International Monetary Fund chief Christine Lagarde voiced robust support Friday for Spain's announcement that it needs two more years to meet the European Union deficit target. "I strongly support the Spanish government's objectives of restoring a sound fiscal position while securing a recovery and creating jobs," Lagarde said in a statement. "Today's announcement to pursue a more gradual consolidation path is a welcome step toward meeting these goals, building on major reforms and structural fiscal improvements last year," she said.

IMF urges Pakistan to act to stabilize economy

Agence France-PresseApril 24, 2013 20:00
The International Monetary Fund urged Pakistan's government to put more effort into stabilizing the country's struggling economy, after meetings between officials from both sides in Washington last week. IMF Pakistan Mission Chief Jeffrey Franks said the lender had not received any official request for an aid program from Pakistan's top financial officials amid "fruitful discussions" during the spring meetings of the IMF and World Bank last week. "We have not received a formal request for a program from the authorities," Franks said in a statement.
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