International Monetary Fund news stories on Newser

Malawi Slashes Currency By a Third

Mon, 07 May 2012 11:25:26 CDT

The official rate of Malawi's currency has been cut by a third as the impoverished southern African nation seeks to repair ties with the International Monetary Fund, the country's central banker said today. The move is just one in a series of steps President Joyce Banda's government has taken that...

Eurozone Set to Finalize Greece Bailout

Kevin Spak — Mon, 20 Feb 2012 14:27:32 CST

Eurozone finance ministers met in Brussels today, in a meeting that they believe will finalize a $171 billion second bailout for Greece, in exchange for roughly $264 billion in Greek government bonds. "I'd like to assume that we will come to a final and definitive agreement tonight," Luxembourg Prime Minister...

Portugal May Need a 2nd Bailout

Matt Cantor — Wed, 25 Jan 2012 07:10:26 CST

In order to pay back $11.6 billion in debt, Portugal needs to re-enter capital markets next year—and as it stands, that's looking like a tall order. The deadline isn't until September 2013, but the International Monetary Fund could call on the country to release a financial plan a...

Greece Hires Out Ancient Ruins to Raise Cash

Dustin Lushing — Fri, 20 Jan 2012 16:43:59 CST

Debt-stricken Greece is taking an unprecedented step and exploiting its own magnificent history to raise cash and help its crippled economy. The Guardian reports that Greece is offering up its architectural masterpieces, including the Acropolis, the temple of Delphi, and the Parthenon, as backdrops for movies, commercials, and photo shoots—...

Strauss-Kahn Cheered on Return to IMF

Rob Quinn — Tue, 30 Aug 2011 00:52:18 CDT

Dominique Strauss-Kahn received a warm welcome during his farewell visit to International Monetary Fund headquarters in Washington, DC, yesterday. Hundreds of staffers packed into an auditorium to hear the former IMF chief speak, Reuters reports. "He is very much appreciated in the institution," Brazil's representative on the IMF's 24-member executive...

'Act Now' Urges IMF Head, Warning of Recession Risks

Mark Russell — Mon, 29 Aug 2011 02:00:00 CDT

IMF head Christine Lagarde warned that the world economic recovery is in danger, and called for additional spending to support growth, at a conference for business and economic leaders in Jackson Hole on Saturday, reports Reuters . "The stakes are clear; we risk seeing the fragile recovery derailed. So we must...

Lagarde Faces Probe in $400M Deal

Kevin Spak — Thu, 04 Aug 2011 11:17:31 CDT

Well, at least there’s no maid involved this time: A special French court has ordered an investigation into newly minted IMF chief Christine Lagarde, over her role in a $400 million arbitration deal with tycoon Bernard Tapie. The much-maligned settlement, awarded in 2008, came after Tapie sued a French state-owned...

Lagarde Named Head of IMF

Kevin Spak — Tue, 28 Jun 2011 12:47:35 CDT

Christine Lagarde has officially been named to replace Dominique Strauss-Kahn to head the IMF, reports the Washington Post . Lagarde's victory became all but guaranteed after the US endorsed her this morning, giving her the explicit support of more than half the votes on the institution's board, the Wall Street Journal...

IMF Cyberattack Was by Foreign Government: Source

Evann Gastaldo — Sun, 12 Jun 2011 14:04:05 CDT

The cyberattack on IMF was carried out by hackers thought to be connected to a foreign government, not hacker collective Anonymous, according to a security expert familiar with the incident. The hackers removed a “large quantity” of data that included emails and other documents, the source says. Bloomberg obtained internal...