Tag Archives: imf

IMF forgives Ukraine’s debt to Russia

IMF Christine Lagarde Ukraine debt

On December 8, the IMF’s Chief Spokesman Gerry Rice sent a note saying: “The IMF’s Executive Board met today and agreed to change the current policy on non-toleration of arrears to official creditors. We will provide details on the scope and rationale for this policy change in the next day …

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IMF approves Chinese yuan to rival US dollar on the global stage

International Chinese yuan IMF SDR

From Filip Karinja, for Birch Gold Group As we predicted it would happen, the International Monetary Fund (IMF) made a historic decision this week in international finance by adding the Chinese yuan into its basket of currencies that make up the global exchange unit known as the SDR. Created back in 1969, the SDR (Special …

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IMF set to include Chinese yuan into SDR currency basket

IMF meeting IMFC International Monetary Fund

From Filip Karinja, for Birch Gold Group The International Monetary Fund (IMF) is set to meet in just over a week – on November 30 – to discuss what will almost certainly see the Chinese yuan added to the Special Drawing Rights (SDR) currency basket. IMF Chief Christine Lagarde has already …

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IMF set to add Chinese yuan to SDR currency basket

Chinese yuan

China’s currency, the yuan seems to be on track to be included in the International Monetary Fund‘s benchmark currency basket, putting it on par with the dollar, euro and pound sterling. A draft report by IMF staff who have been assessing the yuan’s technical criteria seems to be favourable. Three …

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China calls for new global currency to replace US dollar

Gold Chinese Dragon

China is calling for a global currency to replace the dominant dollar, showing a growing assertiveness on revamping the world economy ahead of next week’s London summit on the financial crisis. The surprise proposal by Beijing’s central bank governor reflects unease about its vast holdings of U.S. government bonds and …

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IMF downgrades global growth outlook, lowest since financial crisis

Lagarde IMF National Press Club economic growth

The International Monetary Fund (IMF) has downgraded its forecast for global economic growth for the fourth time this year, reducing the figure to 3.1 percent from the 3.3 percent estimate in July. Modest growth pickup could occur in advanced economies, along with the slowdown in emerging markets, according to IMF. …

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IMF issues its statement on Greece

Greece flag IMF debt

Mr. Gerry Rice, Director of Communications at the International Monetary Fund (IMF), made the following statement today regarding Greece’s financial obligations to the IMF due today: “I confirm that the SDR 1.2 billion repayment (about EUR 1.5 billion) due by Greece to the IMF today has not been received. We …

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Ex-IMF boss arrested for tax evasion and money laundering

Rodrigo Rato

Rodrigo Rato, who led the International Monetary Fund from 2004-2007, was arrested in Spain last night over allegations of tax evasion and money laundering. An influential figure in Spanish banking and politics, Rato was the predecessor of IMF chief Dominique Strauss-Khan, who left office under a cloud of legal troubles …

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Central banking elite met today behind closed doors

Bank gate

From Filip Karinja, for Birch Gold Group Today the financial heavyweights in the world of finance met behind closed doors to discuss the future of the global economic system. Held in Washington, the meeting was titled, ‘Gold, renminbi and the multicurrency reserve system’. Co-hosted by the World Gold Council, the purpose of the …

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Greece plans return to drachma and nationalization of banks

Eurozone Greece drachma

Greece is drawing up drastic plans to nationalise the country’s banking system and introduce a parallel currency to pay bills unless the eurozone takes steps to defuse the simmering crisis and soften its demands. Sources close to the ruling Syriza party said the government is determined to keep public services …

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