Development banking

January 07, 2020 - 3:04 pm
ATHENS, Greece (AP) — The International Monetary Fund will close its offices in Athens in coming months, a decade after it joined in a huge bailout program that kept Greece afloat, Greece's prime minister said Tuesday. Kyriakos Mitsotakis said Greece would continue to cooperate with the IMF, but "...
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December 08, 2019 - 8:42 am
KYIV, Ukraine (AP) — Ukraine and the International Monetary Fund have reached agreement on a new $5.5 billion program to boost the country's growth and economic reforms. The agreement, which still must be approved by the fund's management, was reached in a Saturday telephone call between Ukrainian...
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October 29, 2019 - 9:09 am
WASHINGTON (AP) — A weakening global economy is pulling down the prices of energy and farm commodities. The World Bank says that energy prices will drop 14.6% this year and 3.1% in 2020 and that farm prices will fall 4.7% this year and eke out 0.6% growth next year. The forecasts are sharply lower...
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International Monetary Fund (IMF) Managing Director Kristalina Georgieva speaks during a news conference during the World Bank/IMF Annual Meetings in Washington, Thursday, Oct. 17, 2019. (AP Photo/Jose Luis Magana)
October 17, 2019 - 1:27 pm
WASHINGTON (AP) — The International Monetary Fund's new leader said Thursday that a trade truce between the United States and China could trim expected losses to the world economy but won't be enough to produce strong global growth. Before last week's tentative trade agreement, the IMF had...
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FILE - In this Aug. 6, 2019, file photo, a woman walks by a money exchange shop decorated with different countries currency banknotes at Central, a business district in Hong Kong. The IMF’s latest World Economic Outlook comes on the eve of meetings in Washington this week of the IMF and its sister lending organization, the World Bank. (AP Photo/Kin Cheung, File)
October 15, 2019 - 10:48 am
WASHINGTON (AP) — The International Monetary Fund is further downgrading its outlook for the world economy, predicting that growth this year will be the weakest since the 2008 financial crisis, primarily because of widening global conflicts. The IMF's latest World Economic Outlook released Tuesday...
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October 15, 2019 - 10:46 am
WASHINGTON (AP) — The International Monetary Fund said Tuesday it welcomes the decision by Ecuadorian President Lenín Moreno to cancel an austerity package following more than a week of protests. Gita Gopinath, IMF's chief economist, said the agency welcomes the attempt "to bring in all...
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FILE - In this April 18, 2018, file photo, the World Bank CEO Kristalina Georgieva speaks at the World Bank/IMF annual spring meeting in Washington. Georgieva, a top official at the World Bank, was chosen by the IMF’s executive board on Wednesday to become the IMF’s managing director. She succeeds Christine Lagarde who is stepping down to take over as head of the European Central Bank. (AP Photo/Jose Luis Magana, File)
September 25, 2019 - 6:00 pm
WASHINGTON (AP) — A Bulgarian economist who grew up when her country was a communist nation has been selected to be the next leader of one of capitalism's premier institutions, the 189-nation International Monetary Fund. Kristalina Georgieva, a top World Bank official, was chosen by the IMF's...
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FILE - In this Jan. 12, 2018, file photo, Asian Development Bank (ADB) President Takehiko Nakao gestures during a forum with foreign correspondents at the bank's headquarters in Manila, Philippines. The regional lender announced Nakao’s plan to resign on Tuesday, Sept. 17, 2019. Japanese officials have usually headed the ADB, and Finance Minister Taro Aso said Tokyo would nominate a “high-caliber candidate” as Nakao’s successor. (AP Photo/Bullit Marquez, File)
September 17, 2019 - 6:03 am
TOKYO (AP) — The president of the Asia Development Bank, Takehiko Nakao, plans to step down early next year, the regional lender said Tuesday. Japan has usually headed the ADB as a top donor. Finance Minister Taro Aso said in a statement that Tokyo would soon nominate a "high-caliber candidate" as...
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Greece's Prime Minister Kyriakos Mitsotakis center left, and Greek Finance Minister Christos Staikouras, center right, arrive at a meeting in Athens, on Wednesday, Sept. 11, 2019. Mitsotakis chaired Wednesday a meeting of cabinet ministers on economic policy. (AP Photo/Petros Giannakouris)
September 16, 2019 - 1:03 pm
ATHENS, Greece (AP) — Greece has asked its European creditors to approve the early repayment of part of its bailout loans from the International Monetary Fund, the country's finance minister said Monday. Christos Staikouras said paying off the IMF loans ahead of schedule would reduce debt servicing...
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August 09, 2019 - 4:43 pm
WASHINGTON (AP) — The International Monetary Fund sees little evidence that China's central bank has deliberately reduced the value of the nation's currency — a position at odds with the Trump administration's decision this week to accuse Beijing of manipulating the yuan. The IMF said Friday in its...
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