WASHINGTON—The International Monetary Fund’s steering committee on Thursday urged global policymakers to monitor pricing dynamics closely, but to “look through” inflationary pressures that are transitory and will fade as economies normalize. The International Monetary and Financial Committee (IMFC), made up of 24 finance ministers and central bank governors from IMF member countries, said in a…
IMF Panel Urges Central Banks to Closely Monitor Inflation, ‘Act Appropriately’
IMF Chief Georgieva Says Data-Rigging Scandal Won’t Hamper IMF-World Bank Cooperation
WASHINGTON—International Monetary Fund chief Kristalina Georgieva on Wednesday distanced herself and the fund from a data-rigging scandal involving her former employer, the World Bank, but said she did not expect the saga to hamper decades of close collaboration between the two institutions. Georgieva, who was cleared of wrongdoing in the matter by the IMF’s executive…
Yellen Calls for ‘Strong Action’ to Boost Data Integrity at IMF, World Bank
October 14, 2021
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WASHINGTON—U.S. Treasury Secretary Janet Yellen on Thursday called for “strong action” by international financial institutions to boost accountability, protect data integrity, and prevent misconduct in the wake of a World Bank data-rigging scandal. Yellen, in a statement to the steering committee of the International Monetary Fund, also called for moves by international financial institutions to…
G20 Backs IMF Chief’s New Trust to Reach Broader Range of Countries in Need
WASHINGTON—IMF chief Kristalina Georgieva on Wednesday won the endorsement of the Group of 20 major economies for a new trust that will allow rich IMF members to donate their share of newly created emergency reserves to a broader range of countries in need. G20 finance officials backed the new Resilience and Sustainability Trust (RST) in…
‘Broader Financial Stress May Emerge:’ IMF Warning About Evergrande Crisis
Chinese property developer Evergrande’s struggles could ripple through the global economy, according to the International Monetary Fund (IMF). It came as the debt-laden property giant has missed payments on bond interests for the third time in three weeks. “While the authorities have the tools to step in if the situation were to escalate, there is…
NTD Business Full Broadcast (Oct. 12)
The IMF gives a warning: it says the global recovery is slowing down, and it’s cutting its forecast. What’s the reason? California moves toward banning gas-powered lawnmowers and leaf blowers. What does it mean for landscaping businesses? And why are some lawmakers concerned? Consumers are spending big on diamonds. What’s behind the surge in demand?
IMF Cuts US Growth Forecast Due to Supply Chain Chaos, Weaker Spending
The International Monetary Fund (IMF) has slashed its growth forecast for the United States by one full percentage point, blaming supply chain disruptions and weaker consumption, while warning of growing economic risks to the world economy. In its most recent World Economic Outlook, released on Oct. 12, the IMF cut the growth forecast for the United States…
Yellen Tells IMF’s Georgieva Data-Rigging Probe Raised ‘Legitimate’ Concerns: Treasury
October 12, 2021
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WASHINGTON—U.S. Treasury Secretary Janet Yellen told International Monetary Fund Managing Director Kristalina Georgieva on Monday that a law firm’s report into World Bank data-rigging allegations against the IMF chief “raised legitimate issues and concerns” but a lack of direct evidence meant a leadership change was unwarranted. Yellen said in the statement that “proactive steps must…
Georgieva’s Future at Helm of IMF Still Unclear After Marathon Board Meeting
WASHINGTON—The International Monetary Fund’s executive board ended a five-hour meeting about the future of Managing Director Kristalina Georgieva without a decision on Friday, saying it would seek more information about claims she pressured World Bank staff to alter data to benefit China in her previous role. The IMF said the board had made “significant progress”…
IMF Still Working to Build Support for New Trust to Help Countries in Need
WASHINGTON—The International Monetary Fund said on Friday it is still building support among members for a proposed Resilience and Sustainability Trust that would allow richer countries to channel their IMF reserves to countries in need, but hopes to see the new instrument up and running next year. IMF officials have been racing to build support…
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