Updated 10:58 pm PDT, Monday, October 8, 2018 In this Jan. 20, 2017, photo, villagers collect clean water from a broken water supply line in the suburbs of Islamabad, Pakistan. Pakistan says it will seek a bailout loan from the International Monetary Fund to address a mounting balance of payments crisis, Finance Minister Asad Umar said Monday. less In this Jan. 20, 2017, photo, villagers collect clean water from a broken water supply line in the suburbs of Islamabad, Pakistan. Pakistan says it will seek a bailout loan from the International Monetary Fund ... more Photo: B.K. Bangash, AP FILE In this Dec. 7, 2015, file photo, vendors visit a wholesale market to buy Jaggery, in Peshawar, Pakistan. Pakistan says it will seek a bailout loan from the International Monetary Fund to address a mounting balance of payments crisis, Finance Minister Asad Umar said Monday. less FILE In this Dec. 7, 2015, file photo, … [Read more...] about Pakistan to seek IMF loan to avert meltdown
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Argentines haunted by memories of crisis oppose IMF’s help
Luis Andres Henao, Associated Press Updated 9:12 pm, Thursday, May 10, 2018 window._taboola = window._taboola || []; _taboola.push({ mode: 'thumbnails-c', container: 'taboola-interstitial-gallery-thumbnails-5', placement: 'Interstitial Gallery Thumbnails 5', target_type: 'mix' }); _taboola.push({flush: true}); window._taboola = window._taboola || []; _taboola.push({ mode: 'thumbnails-c', container: 'taboola-interstitial-gallery-thumbnails-9', placement: 'Interstitial Gallery Thumbnails 9', target_type: 'mix' }); _taboola.push({flush: true}); Photo: Jacquelyn Martin, AP Image 1of/9 CaptionClose Image 1 of 9 International Monetary Fund (IMF) Managing Director Christine Lagarde, right, meets with Argentina's Treasury Minister Nicolas Dujovne, Thursday, May 10, 2018, at the IMF in Washington. International Monetary Fund (IMF) Managing Director Christine Lagarde, right, meets with … [Read more...] about Argentines haunted by memories of crisis oppose IMF’s help
Argentines in shock as the government returns to the IMF for an emergency $30 billion loan
caption Argentina’s president Mauricio Macri speaks during a meeting with Chile’s President Michelle Bachelet at the government house during his official visit in Santiago source Thomson Reuters Argentina is seeking an emergency $30 billion loan from the IMF to prevent a financial crisis after three successive interest rate rises last week failed to arrest the falling peso. Argentines are shocked by proposals after the last loan in 2001 coincided with a major financial crisis in the country. President Mauricio Macri made a televised address to the nation yesterday. “This will allow us to face the new global scenario and avoid a crisis like the ones we have faced before in our history,” he said. Argentina is seeking emergency credit from the International Monetary Fund (IMF) in an effort to prevent another financial crisis, after three consecutive interest … [Read more...] about Argentines in shock as the government returns to the IMF for an emergency $30 billion loan
IMF says trade tensions, debt load threaten world economy
WASHINGTON (AP) — The International Monetary Fund's policymaking committee said Saturday that a strong world economy is threatened by increasing tension over trade and countries' heavy debt burden. Longer-term prospects are clouded by sluggish growth in productivity and aging populations in wealthy nations.In a statement at the end of three days of meetings, the lending agency urged countries to take advantage of the broadest-based economic expansion in a decade to cut government debt and to enact reforms that will make their economies more efficient.The IMF expects the world economy to grow 3.9 percent this year and next, which would be the strongest since 2011. But an intensifying dispute between the U.S. and China over Beijing's aggressive attempt to challenge U.S. technological dominance has raised the prospect of a trade war that could drag down worldwide growth."Trade tensions are not to the benefit of anyone," said Lesetja Kganyago, who leads the policymaking committee and … [Read more...] about IMF says trade tensions, debt load threaten world economy
US calls on IMF to do more to address unfair trade practices
WASHINGTON (AP) — Treasury Steven Mnuchin wants the International Monetary Fund to do more to address what the Trump administration says are unfair trade practices and says the World Bank should steer cheap loans away from China and toward poorer countries.Such trade policies "impede stronger U.S. and global growth, acting as a persistent drag on the global economy," Mnuchin said as the lending agencies were poised Saturday to wrap up their spring meetings, where the administration's "America First" approach has put it at odds with other countries.He urged the IMF to go beyond its traditional role as an emergency lender for countries in financial distress and said it should more closely monitor the practices of countries that persistently run large trade surpluses."The IMF must step up to the plate on this issue, providing a more robust voice," Mnuchin said. "We urge the IMF to speak out more forcefully on the issue of external imbalances."The World Bank, he said, must not back … [Read more...] about US calls on IMF to do more to address unfair trade practices