Reuters - Financial aid to rescue Europe's debt-stricken countries is set to dominate talks between Christine Lagarde, the head of the International Monetary Fund, and Russia's president, government and monetary officials during her visit to Moscow.
MOSCOW (Reuters) - Financial aid to rescue Europe's debt-stricken countries is set to dominate talks between Christine Lagarde, the head of the International Monetary Fund, and Russia's president, government and monetary officials during her visit to Moscow.
German Chancellor Angela Merkel said she’s confident the International Monetary Fund will join Greece’s third bailout and signalled willingness to consider debt relief to help make it happen.
Merkel’s first public comments since euro-area finance ministers backed the 86 billion-euro (US$96 billion) aid package were partly aimed at her party’s lawmakers, who want the chancellor to ensure an IMF contribution to the latest Greek rescue. Germany’s lower house votes on the bailout on Wednesday.
The International Monetary Fund will contribute about 1 billion euros (US$1.3 billion) as part of a rescue program for Cyprus that aims to stabilize the nation’s banks and reduce public spending, IMF Managing Director Christine Lagarde said.
Washington (AFP) - As International Monetary Fund chief Christine Lagarde's mandate enters the final stretch, emerging-market powers seem hesitant about teaming up to try to wrest the job away from Europeans.
Saxo bank chief economist Steen Jakobsen pinged me with an interesting set of comments regarding Italian interest rates....World has Major Funding GapOur estimation shows that on the 2012 interest payment alone Italy now needs to find additional 10 billion EUR to pay for the rise in interest rates.Some independent trading houses have calculated that the combined funding need for Spain and Italy combined (banks, and national debt) is 400-500 billion EUR per year for next two to three years.
Washington (AFP) - The International Monetary Fund approved Friday the release of nearly $1.4 billion in fresh funds for troubled Ukraine, but warned that continued fighting could undermine the international bailout of the country.
Berlin (AFP) - The heads of the IMF and European Central Bank unexpectedly joined talks on Greece's debt crisis Monday as the cash-strapped country battles with its creditors to unlock desperately-needed bailout funds.