The International Monetary Fund‘s executive board on Friday selected Bulgarian economist Kristalina Georgieva to serve as managing director for a second five-year term, starting on Oct. 1 this year, the global lender said. “The Board commended Ms. Georgieva’s strong and agile leadership during her term, navigating a series of major global shocks,” it said in … Read more
IMF Managing Director Kristalina Georgieva. | Photo Credit: REUTERS The IMF executive board confirmed Friday that it had reappointed Kristalina Georgieva to serve for a second five-year term running the international financial institution. The decision means that Ms. Georgieva, who was the sole candidate to lead the International Monetary Fund, will continue in office when … Read more
Washington: Strong economic activity in the United States and emerging markets is projected to help drive global growth by about 3% this year, the International Monetary Fund’s chief said Thursday, below the annual historic average and a warning sign about potential lackluster performances through the 2020s. “Without a course correction, we are indeed heading for … Read more
Pakistan Prime Minister Shehbaz Sharif meets with managing director of the International Monetary Fund (IMF), Kristalina Georgieva, in Paris, France June 22, 2023. Credit: Press Information Department (PID)/Handout via REUTERS | Photo Credit: VIA REUTERS Pakistan Prime Minister Shehbaz Sharif met IMF Managing Director Kristalina Georgieva on Thursday as the cash-strapped country made a last-ditch … Read more
Political leaders and industry captains on February 24 hailed Indian American Ajay Banga’s nomination as World Bank president, saying he is an inspired choice and a phenomenal addition to the list of Indian-origin leaders at the helm of globally impactful organisations. President Joe Biden on Thursday announced that the U.S. is nominating Mr. Banga to … Read more
Islamabad: Pakistan‘s National Assembly on Tuesday unanimously passed a money bill aimed at raising tax revenues to fulfil the demands set by the IMF for seeking a USD 1.1 billion loan facility to avoid an economic meltdown. The Finance (Supplementary) Bill 2023 or ‘mini-budget’ was approved in the lower lower house of Parliament days after … Read more
Calling India a ‘bright spot’, International Monetary Fund (IMF) Managing Director Kristalina Georgieva on Thursday said that country was a fast-growing economy, even during these difficult times. “India deserves to be called a bright spot on this otherwise dark horizon because it has been a fast-growing economy, even during these difficult times, but most importantly, … Read more
Finance minister Nirmala Sitharaman on Tuesday raised concerns about the impact of geopolitical developments on the global economy and the challenges linked to the rising energy prices. The minister discussed a wide range of issues, including the current geopolitical situation and its economic impact, with International Monetary Fund (IMF) managing director Kristalina Georgieva, and highlighted … Read more
New International Monetary Fund forecasts due in April will show that the war in Ukraine will slow global economic growth, but will not cause a global recession, IMF Managing Director Kristalina Georgieva said on Tuesday. Georgieva, speaking in an online event hosted by Foreign Policy magazine, said that some weak emerging economies still struggling with … Read more
WASHINGTON: The head of the International Monetary Fund on Sunday called for significant steps to address the increasingly unsustainable debt burdens of some countries, urging creditors and debtors to start restructuring processes sooner rather than later. IMF Managing Director Kristalina Georgieva said a six-month extension of the Group of 20 major economies’ freeze in official … Read more