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IMF chief urges Arab states to cut spending

DUBAI: IMF chief Christine Lagarde on Saturday urged Arab countries to slash public wages and subsidies in order to rein in spending, achieve sustainable growth and create jobs. Speaking at the one-day Arab Fiscal Forum in Dubai, Lagarde welcomed “promising” reforms adopted by some Arab countries, but insisted much more was needed to overcome daunting…

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China’s growth objectives clash with financial stability goal: IMF

A Chinese investor reads a newspaper as he monitors stock prices at a brokerage house in Beijing, Tuesday, Oct. 17, 2017. Asian stocks rose Tuesday after Wall Street’s major indexes hit new highs as China prepared to open a key political meeting. (AP Photo/Mark Schiefelbein) BEIJING: China should prioritize financial stability above development goals, as…

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Countries must avoid protectionism ‘at all costs’: IMF

WASHINGTON: The International Monetary Fund warned world leaders Friday to avoid resorting to protectionist measures “at all costs” due to the damage it would cause to their own and the global economy. At a time when President Donald Trump has repeatedly blamed trade for US economic woes, and threatened to impose barriers to imports, the…

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IMF lauds Pakistan’s economy with favorable outlook

ISLAMABAD: The International Monetary Fund has termed Pakistan’s economic outlook as “favorable” with improved availability of energy, and growth-supporting structural reforms. According to latest report released by IMF, confidence of investors in Pakistan is growing as its economy has stabilized after completing a bailout program. It cited Chinese infrastructure investments as one of the reasons…

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IMF says Pakistan outlook ‘favourable’, warns of risks

Islamabad: The International Monetary Fund (IMF) said the outlook for Pakistan’s economy was “favourable”, citing Chinese infrastructure investments among reasons for growth, but warned of risks to recent progress. Confidence in insurgency-hit Pakistan is growing, with the IMF saying last year that the country had emerged from crisis and stabilised its economy after completing a…

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Dar arrives in US to attend annual IMF conference

WASHINGTON: Finance Minister Ishaq Dar reached United States to take part in the annual International Monetary Fund (IMF) conference, Samaa reported on Friday. According to details, the finance minister will represent Pakistan in the conference scheduled to take place from April 21st to April 23rd 2017 in Washington. He is also set to meet leaders…

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Pakistan, IMF to begin consultations today

ISLAMABAD: Consultations between Pakistan and International Monetary Fund begin in Dubai today. During the consultations, a detailed review of reforms carried out by the government in different areas of the economy, particularly the energy sector, will be discussed. Ishaq Dar expressed the hope that the two sides will have a constructive round of discussions. Chairing…

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IMF warns Pakistan of CPEC bill challenges

KARACHI: Chinese investments in Pakistan can potentially¬†lift the¬†country’s economy, but the repayment obligations that come with this investment will be serious, the¬†IMF warned in its latest and final review of the¬†China-Pakistan Economic Corridor. ‚ÄúDuring the investment phase, as the ‚Äėearly harvest‚Äô projects proceed, Pakistan will experience a surge in FDI and other external funding inflows,‚ÄĚ…

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Sri Lanka requests IMF bailout

COLOMBO: Sri Lanka has made a formal request for an IMF bailout package to aid its struggling economy after a sharp slowdown in growth and with its budget deficit widening, officials said Saturday. The International Monetary Fund confirmed the island nation had asked for assistance, but did not give details on the value of a…

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IMF reforms lending rules to heavily indebted countries

WASHINGTON: The International Monetary Fund has said it had overhauled its lending rules for heavily indebted countries, including a rule created in 2010 to allow it to aid Greece. Last week, the IMF abandoned the “systemic exemption” rule which it used to justify giving Greece a massive bailout despite doubts about the sustainability of the…

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Christine Lagarde to run for second IMF term

PARIS: Christine Lagarde announced Friday that she will run for a second term at the head of the International Monetary Fund, after winning strong backing from across Europe. “Yes, I am running for a second mandate,” the former French finance minister confirmed in an interview with France 2 television. “I’ve had the honour of receiving…

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IMF cuts world growth forecast

WASHINGTON: The International Monetary Fund warned of substantial risks in the major emerging market economies Tuesday as it lowered its outlook for global economic growth this year. Slower Chinese growth, a stronger US dollar, collapsed oil prices and political turmoil could all wreak further havoc in struggling economies like Russia and Brazil and across the…

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IMF happy with Pakistan’s ‘Yesmanship’

WASHINGTON: The International Monetary Fund (IMF) on Thursday¬† welcomed the commitment of Pakistan’s government to economic reforms which has significantly reduced near-term risks to the economy. “The authorities are making progress with consolidating macroeconomic¬† stability and tackling structural obstacles to growth with several important structural reforms in various stages of preparation or implementation,” said Harald…

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PM hails IMF role in achieving economic stability in Pakistan

WASHINGTON: Prime Minister Muhammad Nawaz Sharif on Wednesday appreciated the role of International Monetary Fund (IMF) in assisting Pakistan to achieve economic stability. The Prime Minister was talking to Christine Lagarde, MD, IMF who called on him here. The Prime Minister highlighted the government’s policies aimed at structural, fiscal and monetary reforms in the short…

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