A senior International Monetary Fund official warned of Japan's growing fiscal problems in an interview published Monday, describing the pace of deterioration as "pretty high".IMF Deputy Managing Director Naoyuki Shinohara made the comments in an interview with Kyodo news agency in Washington."Although Japan's problem should not be treated in the same way as the Greece debt crisis, its fiscal vulnerability is rising fairly high," he said.
A Greek default appears likely soon as Greece Dispatches Officials to US Over Default Fears.
Greece sent senior officials to Washington on Monday for meetings with the International Monetary Fund as it raced against the clock to break a deadlock in debt swap talks that has raised fears of an unruly default.
The US has no plans to lend money directly to the International Monetary Fund, a senior Treasury official said Friday, as the Fund pitches to boost its resources in the case of financial emergency.The official, who would not be identified, said the US believes the IMF has enough resources for its needs.Currently the IMF has $389 billion (291 billion euros) available to lend to its member countries.
The International Monetary Fund will soon open a fact-finding office in Athens, where it is already overseeing a crash three-year Greek austerity programme, a senior IMF official said on Friday."An office will operate in Athens in a month to six weeks at the most," the IMF's deputy European director Poul Thomsen told To Vima daily.
The Chinese currency is "substantially" undervalued, a senior IMF official said Wednesday, despite Beijing's action to let the yuan trade more freely."I think the staff view on the currency is that that the renminbi (yuan) remains substantially below the level that is consistent with medium-term fundamentals," said Nigel Chalk, who recently led an International Monetary Fund mission to China for annual consultations on Chinese policies.