Pakistani rupee plunges about 6 percent in what traders say could be a central bank devaluation

The Pakistani rupee plunged about 6 percent on Friday in what dealers suspected was the sixth currency devaluation by the central bank in the past 12 months, linking the move to ongoing bailout talks with the International Monetary Fund (IMF). The rupee tumbled to about 143 per dollar in early trading before paring some of the losses to trade at 141/142 level, or about 5.5 percent weaker by 0515 GMT, market participants said. The rupee has lost about 35 percent since the first devaluation in Dec


The Pakistani rupee plunged about 6 percent on Friday in what dealers suspected was the sixth currency devaluation by the central bank in the past 12 months, linking the move to ongoing bailout talks with the International Monetary Fund (IMF). The rupee tumbled to about 143 per dollar in early trading before paring some of the losses to trade at 141/142 level, or about 5.5 percent weaker by 0515 GMT, market participants said. The rupee has lost about 35 percent since the first devaluation in Dec
Pakistani rupee plunges about 6 percent in what traders say could be a central bank devaluation Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: asif hassan afp getty images
Keywords: news, cnbc, companies, visit, rupee, traders, say, central, officials, weaker, package, imf, bailout, pakistani, tumbled, devaluation, bank, plunges


Pakistani rupee plunges about 6 percent in what traders say could be a central bank devaluation

The Pakistani rupee plunged about 6 percent on Friday in what dealers suspected was the sixth currency devaluation by the central bank in the past 12 months, linking the move to ongoing bailout talks with the International Monetary Fund (IMF).

The rupee tumbled to about 143 per dollar in early trading before paring some of the losses to trade at 141/142 level, or about 5.5 percent weaker by 0515 GMT, market participants said.

The rupee has lost about 35 percent since the first devaluation in December 2017, as officials have sought to bring under control a ballooning current deficit that threatens to trigger a balance of payments crisis.

This month Pakistani and the IMF failed to agree on a bailout package during a visit by an IMF delegation, with Pakistani officials setting mid-January as the target date for the country to obtain its second assistance package since 2013, when the IMF loaned Pakistan$6.7 billion.

“It’s positive. If they’re doing what IMF is telling them, and they go for the bailout, it’s a good thing for the economy,” said Saad Hashemy, chief economist at local brokerage Topline Securities.


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: asif hassan afp getty images
Keywords: news, cnbc, companies, visit, rupee, traders, say, central, officials, weaker, package, imf, bailout, pakistani, tumbled, devaluation, bank, plunges


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‘Multiple and intertwined risks’ cloud outlook for the Middle East and its neighbors, IMF says

Major oil producing countries in the Middle East and its neighbors might benefit from higher crude prices in 2019, according to the latest outlook from International Monetary Fund (IMF), but there are numerous uncertainties in the region. The Fund’s latest regional economic outlook for the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region, published Tuesday, warns that “multiple and intertwined risks cloud the outlook of the MENAP region.” Oil producing countries in the Middle


Major oil producing countries in the Middle East and its neighbors might benefit from higher crude prices in 2019, according to the latest outlook from International Monetary Fund (IMF), but there are numerous uncertainties in the region. The Fund’s latest regional economic outlook for the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region, published Tuesday, warns that “multiple and intertwined risks cloud the outlook of the MENAP region.” Oil producing countries in the Middle
‘Multiple and intertwined risks’ cloud outlook for the Middle East and its neighbors, IMF says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: holly ellyatt, getty images
Keywords: news, cnbc, companies, menap, imf, east, risks, neighbors, middle, latest, intertwined, growth, market, outlook, cloud, multiple, countries, oil


'Multiple and intertwined risks' cloud outlook for the Middle East and its neighbors, IMF says

Major oil producing countries in the Middle East and its neighbors might benefit from higher crude prices in 2019, according to the latest outlook from International Monetary Fund (IMF), but there are numerous uncertainties in the region.

The Fund’s latest regional economic outlook for the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region, published Tuesday, warns that “multiple and intertwined risks cloud the outlook of the MENAP region.”

“These include a faster-than-anticipated tightening of global financial conditions, escalating trade tensions that could affect global growth and hurt key MENAP trading partners, geopolitical strains, and spillovers from regional conflicts,” the report stated.

These risks could trigger a deterioration in financial market sentiment and greater financial market volatility, the Fund said, “aggravating the financing challenges for countries with high levels of debt or large refinancing needs.”

Oil producing countries in the Middle East have traditionally relied on oil exports as their source of government revenue. Volatility in oil markets amid imbalances in supply and demand have prompted a number of countries, particularly in the Gulf, to look to diversify their economies away from oil and to create more jobs in other sectors of the economy. In its latest summary on the MENAP region’s outlook, it encouraged countries to commit to further reforms.

“The outlook and the rising risks underscore the need to intensify efforts to raise growth to levels that generate enough jobs for the benefit of all,” the IMF said. “In this context, countries should expand access to finance, strengthen governance, improve education outcomes, and enhance labor market flexibility, particularly in the Gulf Cooperation Council (GCC).”

To ensure that future fiscal adjustment is as growth-friendly and equitable as possible, the Fund said countries need to both prioritize expenditure on “growth-enhancing and high-quality investment in human capital and physical infrastructure, while sustaining well-targeted social spending.” It also advocated a move to a more progressive tax structure to diversify the governments’ revenue bases.

Jihad Azour, director of the Middle East and Central Asia at the IMF, told CNBC on Tuesday that the MENAP report comes amid an uncertain global growth outlook.

“Global conditions are changing in terms of the risk metrics,” Azour told CNBC’s Dan Murphy. “Although we’re still enjoying a high level of growth, that growth is plateauing,” he added.


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: holly ellyatt, getty images
Keywords: news, cnbc, companies, menap, imf, east, risks, neighbors, middle, latest, intertwined, growth, market, outlook, cloud, multiple, countries, oil


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Global growth is slowing, and markets need to pay attention, IMF says

The IMF forecasts global growth for 2018-2019 to remain steady at its 2017 level of 3.7 percent, but the growth outlook for a number of major economies has been marked down. The United States has entered a serious tariff dispute with China, and it remains unclear how long that conflict will last. “Real GDP in the Euro area will slow to 1.9 percent in 2019, compared to 2.9 percent in 2018. Growth will also moderate in the United Kingdom, following surprises that suppressed activity in early 2018,


The IMF forecasts global growth for 2018-2019 to remain steady at its 2017 level of 3.7 percent, but the growth outlook for a number of major economies has been marked down. The United States has entered a serious tariff dispute with China, and it remains unclear how long that conflict will last. “Real GDP in the Euro area will slow to 1.9 percent in 2019, compared to 2.9 percent in 2018. Growth will also moderate in the United Kingdom, following surprises that suppressed activity in early 2018,
Global growth is slowing, and markets need to pay attention, IMF says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: dan murphy, fayez nureldine, afp, getty images, -international monetary fund
Keywords: news, cnbc, companies, global, attention, 2018, pay, imf, united, states, slowing, economies, 2019, growth, outlook, trade, need, markets, china


Global growth is slowing, and markets need to pay attention, IMF says

The IMF forecasts global growth for 2018-2019 to remain steady at its 2017 level of 3.7 percent, but the growth outlook for a number of major economies has been marked down.

In the United States, while the real GDP growth outlook for 2018 is unchanged at 2.9 percent, the forecast for 2019 has been revised down to 2.5 percent due to the recently announced trade measures.

The United States has entered a serious tariff dispute with China, and it remains unclear how long that conflict will last.

The outlook for emerging and developing economies is also weaker, reflecting downward revisions for some large emerging market economies due to country-specific factors, tighter financial conditions, geopolitical tensions and higher oil prices, according to the report.

“Real GDP in the Euro area will slow to 1.9 percent in 2019, compared to 2.9 percent in 2018. Growth will also moderate in the United Kingdom, following surprises that suppressed activity in early 2018,” it said.

The IMF blamed the recent trade measures between the United States and China for projected declining growth in China, which it now sees at 6.2 percent in 2019, 6.6 percent in 2018 and 6.9 percent in 2017.


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: dan murphy, fayez nureldine, afp, getty images, -international monetary fund
Keywords: news, cnbc, companies, global, attention, 2018, pay, imf, united, states, slowing, economies, 2019, growth, outlook, trade, need, markets, china


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In the eye of the storm: IMF lowers Europe’s growth outlook due to ‘external turbulence’

Europe’s growth prospects are at risk from a more turbulent external environment with trade tensions and tighter financial conditions at the forefront of global headwinds, according to the latest regional outlook from the International Monetary Fund (IMF). Downgrading its growth forecasts for Europe for 2018 and 2019, the IMF said Thursday that the “the external environment has become less supportive and is expected to soften further in 2019 owing to slowing global demand, trade tensions and hig


Europe’s growth prospects are at risk from a more turbulent external environment with trade tensions and tighter financial conditions at the forefront of global headwinds, according to the latest regional outlook from the International Monetary Fund (IMF). Downgrading its growth forecasts for Europe for 2018 and 2019, the IMF said Thursday that the “the external environment has become less supportive and is expected to soften further in 2019 owing to slowing global demand, trade tensions and hig
In the eye of the storm: IMF lowers Europe’s growth outlook due to ‘external turbulence’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: holly ellyatt, philippe lopez, afp, getty images
Keywords: news, cnbc, companies, turbulence, europes, outlook, 2018, tensions, growth, external, storm, 2019, trade, global, eye, lowers, regional, imf, latest


In the eye of the storm: IMF lowers Europe's growth outlook due to 'external turbulence'

Europe’s growth prospects are at risk from a more turbulent external environment with trade tensions and tighter financial conditions at the forefront of global headwinds, according to the latest regional outlook from the International Monetary Fund (IMF).

Downgrading its growth forecasts for Europe for 2018 and 2019, the IMF said Thursday that the “the external environment has become less supportive and is expected to soften further in 2019 owing to slowing global demand, trade tensions and higher energy prices.”

“Tighter financial conditions in vulnerable emerging market economies and maturing business cycles are also weighing on activity.”

Accordingly, growth is projected to moderate from 2.8 percent in 2017 to 2.3 percent in 2018 and 1.9 percent in 2019, the IMF noted.

That said, growth is expected to remain above potential in most countries in the region driven by domestic demand, which has been supported by stronger employment and wages.

The latest forecast is a downgrade from the IMF’s last regional outlook for Europe in May, in which it predicted “growth to stay strong,” reaching 2.6 percent in 2018 and 2.2 percent in 2019.


Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: holly ellyatt, philippe lopez, afp, getty images
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IMF’s Christine Lagarde postpones trip to the Middle East

International Monetary Fund Managing Director Christine Lagarde has postponed her trip to the Middle East, according to an IMF statement on Wednesday. “The Managing Director’s previously scheduled trip to the Middle East region is being deferred,” an IMF spokesperson said. He was last seen on Oct. 2 when he entered the Saudi consulate in Istanbul. Turkish officials told media outlets that Khashoggi was killed and dismembered with a bone saw inside the consulate. He is due to fly to the Turkish c


International Monetary Fund Managing Director Christine Lagarde has postponed her trip to the Middle East, according to an IMF statement on Wednesday. “The Managing Director’s previously scheduled trip to the Middle East region is being deferred,” an IMF spokesperson said. He was last seen on Oct. 2 when he entered the Saudi consulate in Istanbul. Turkish officials told media outlets that Khashoggi was killed and dismembered with a bone saw inside the consulate. He is due to fly to the Turkish c
IMF’s Christine Lagarde postpones trip to the Middle East Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: saheli roy choudhury, joanna tan, kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, middle, riyadh, trip, lagarde, christine, imf, ceo, khashoggi, turkish, imfs, east, told, event, consulate, postpones, officials, saudi


IMF's Christine Lagarde postpones trip to the Middle East

International Monetary Fund Managing Director Christine Lagarde has postponed her trip to the Middle East, according to an IMF statement on Wednesday.

Lagarde’s visit to the region included attending the Future Investment Initiative, also known as “Davos in the Desert,” in Saudi Arabia. The conference is scheduled for Oct. 23 to 25.

“The Managing Director’s previously scheduled trip to the Middle East region is being deferred,” an IMF spokesperson said. The IMF did not give a reason for the postponement. CNBC has reached out to the IMF for clarification.

The investing event in Riyadh has seen mounting cancellations since the disappearance and suspected killing of Washington Post columnist Jamal Khashoggi. Turkish officials allege that he was murdered by a team of Saudi operatives, but Riyadh has fiercely denied the claim.

Media outlets including CNBC, Financial Times, CNN and The New York Times have also withdrawn from the event, citing concerns about Khashoggi’s disappearance.

Several prominent business leaders have also said they will not be attending the event, including J.P. Morgan Chase CEO Jamie Dimon, BlackRock CEO Larry Fink, Blackstone CEO Stephen Schwarzman and Mastercard CEO Ajay Banga.

Last week, Lagarde told reporters at the IMF and World Bank annual meetings in Bali, Indonesia, that while she was “horrified” at the disappearance and suspected killing of Khashoggi, she was still planning to attend the conference in Riyadh.

“I have to conduct the business of IMF in all corners of the world, and with many governments,” she said at that time. “When I visit a country, I always speak my mind. You know me, I do. At this point in time, my intention is to not change my plan and to be very attentive to the information that is coming out in the next few days, but I speak my mind.”

Khashoggi, who had been living in the United States as a voluntary exile from Saudi Arabia, was a prominent critic of Crown Prince Mohammed bin Salman and the Saudi royal family. He was last seen on Oct. 2 when he entered the Saudi consulate in Istanbul.

Turkish officials told media outlets that Khashoggi was killed and dismembered with a bone saw inside the consulate. The Saudi government has denied those allegations.

An official told the Associated Press on Tuesday that a police search of the consulate found evidence that Khashoggi was slain there.

U.S. Secretary of State Mike Pompeo met Saudi Arabia’s King Salman, Crown Prince Mohammed and Foreign Minister Adel al-Jubeir in Riyadh on Tuesday to discuss the matter. He is due to fly to the Turkish capital of Ankara on Wednesday to meet Turkish officials.


Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: saheli roy choudhury, joanna tan, kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, middle, riyadh, trip, lagarde, christine, imf, ceo, khashoggi, turkish, imfs, east, told, event, consulate, postpones, officials, saudi


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There’s ‘no winner’ in a trade war, warns IMF deputy managing director

If global supply chains are forced to adjust to the ongoing trade tensions between the U.S. and China, it could cost the world economy about 1 percent of its GDP by next year, a senior IMF official warned. When resources are reallocated due to market forces, that is considered to be an improvement in efficiency, said Tao Zhang, deputy managing director at the International Monetary Fund. It would cost the entire world “close to 1 percent of GDP by 2019,” Zhang added. The IMF recently cut global


If global supply chains are forced to adjust to the ongoing trade tensions between the U.S. and China, it could cost the world economy about 1 percent of its GDP by next year, a senior IMF official warned. When resources are reallocated due to market forces, that is considered to be an improvement in efficiency, said Tao Zhang, deputy managing director at the International Monetary Fund. It would cost the entire world “close to 1 percent of GDP by 2019,” Zhang added. The IMF recently cut global
There’s ‘no winner’ in a trade war, warns IMF deputy managing director Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: saheli roy choudhury, alex wroblewski, bloomberg, getty images
Keywords: news, cnbc, companies, world, winner, theres, war, global, cost, deputy, gdp, points, imf, grow, percentage, trade, managing, director, zhang, warns


There's 'no winner' in a trade war, warns IMF deputy managing director

If global supply chains are forced to adjust to the ongoing trade tensions between the U.S. and China, it could cost the world economy about 1 percent of its GDP by next year, a senior IMF official warned.

When resources are reallocated due to market forces, that is considered to be an improvement in efficiency, said Tao Zhang, deputy managing director at the International Monetary Fund. But when those changes happen due to unnatural distortions in the global environment, the cost of adjustment is high, he told CNBC’s Nancy Hungerford on Saturday, during the IMF and World Bank annual meetings in Bali, Indonesia.

It would cost the entire world “close to 1 percent of GDP by 2019,” Zhang added. “This gives you (an) illustration of how serious the result will be, but, in reality, we will see probably even more complicated implications, not only on trade, investment, but also on confidence and people’s psychological reactions.”

The IMF recently cut global growth forecasts: It predicted that the world economy would grow at 3.7 percent this year and next year — down 0.2 percentage points from an earlier forecast. The fund also cut its predictions for global trade volumes: The total goods and services flow is expected to grow by 4.2 percent this year and 4 percent next year — down 0.6 and 0.5 percentage points, respectively, from earlier estimates.

According to Zhang, there are no beneficiaries in a trade war. Even if a country appears to have come out on top, it would potentially do so at the expense of production capacities and a reduction in final demand.


Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: saheli roy choudhury, alex wroblewski, bloomberg, getty images
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There is ‘no winner’ in the tariff ‘game’: IMF

There is ‘no winner’ in the tariff ‘game’: IMF21 Hours AgoTao Zhang of the International Monetary Fund says it is “in nobody’s interest” for countries to escalate trade tensions instead of engaging in dialogue to resolve the dispute.


There is ‘no winner’ in the tariff ‘game’: IMF21 Hours AgoTao Zhang of the International Monetary Fund says it is “in nobody’s interest” for countries to escalate trade tensions instead of engaging in dialogue to resolve the dispute.
There is ‘no winner’ in the tariff ‘game’: IMF Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-14
Keywords: news, cnbc, companies, game, interest, winner, trade, zhang, international, resolve, monetary, tariff, imf, nobodys, tensions


There is 'no winner' in the tariff 'game': IMF

There is ‘no winner’ in the tariff ‘game’: IMF

21 Hours Ago

Tao Zhang of the International Monetary Fund says it is “in nobody’s interest” for countries to escalate trade tensions instead of engaging in dialogue to resolve the dispute.


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IMF Christine Lagarde on Jamal Khashoggi’s disappearance, Saudi Arabia

BALI, Indonesia — Christine Lagarde, managing director of the International Monetary Fund, said she is “horrified” at the disappearance and suspected killing of journalist Jamal Khashoggi but still plans to attend a conference in Saudi Arabia later this month. U.S. Treasury Secretary Steven Mnuchin told CNBC on Friday that he, too, still plans to attend FII. “We are concerned about what is the status of Mr. Khashoggi,” Mnuchin told CNBC. Saudi Arabia has denied wrongdoing. Khashoggi had been liv


BALI, Indonesia — Christine Lagarde, managing director of the International Monetary Fund, said she is “horrified” at the disappearance and suspected killing of journalist Jamal Khashoggi but still plans to attend a conference in Saudi Arabia later this month. U.S. Treasury Secretary Steven Mnuchin told CNBC on Friday that he, too, still plans to attend FII. “We are concerned about what is the status of Mr. Khashoggi,” Mnuchin told CNBC. Saudi Arabia has denied wrongdoing. Khashoggi had been liv
IMF Christine Lagarde on Jamal Khashoggi’s disappearance, Saudi Arabia Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-13  Authors: yen nee lee, chris somodevilla, getty images
Keywords: news, cnbc, companies, visit, arabia, khashoggis, told, world, jamal, christine, lagarde, saudi, imf, attend, disappearance, information, khashoggi


IMF Christine Lagarde on Jamal Khashoggi's disappearance, Saudi Arabia

BALI, Indonesia — Christine Lagarde, managing director of the International Monetary Fund, said she is “horrified” at the disappearance and suspected killing of journalist Jamal Khashoggi but still plans to attend a conference in Saudi Arabia later this month.

“Human rights, freedom of information are essential rights. And horrifying things have been reported and I am horrified,” she told reporters on Saturday in Bali, Indonesia, where the IMF and World Bank are conducting their annual meetings.

“But I have to conduct the business of IMF in all corners of the world, and with many governments,” she added. “When I visit a country, I always speak my mind. You know me, I do. At this point in time, my intention is to not change my plan and to be very attentive to the information that is coming out in the next few days, but I speak my mind.”

Lagarde was responding to a question on whether she will proceed with her planned visit to Riyadh, Saudi Arabia to attend the Future Investment Initiative, also known as “Davos in the Desert,” which is scheduled for Oct. 23 to 25.

Several luminaries and media outlets — including CNBC, Financial Times, CNN and The New York Times — have withdrawn from the event, citing concerns about the disappearance of Khashoggi and his alleged murder.

Lagarde is not the only one who is going ahead with attending the conference. U.S. Treasury Secretary Steven Mnuchin told CNBC on Friday that he, too, still plans to attend FII.

“We are concerned about what is the status of Mr. Khashoggi,” Mnuchin told CNBC. “If more information comes out and changes, we could look at that, but I am planning on going.”

Khashoggi, a critic of Crown Prince Mohammed bin Salman and the Saudi royal family, was last seen Oct. 2 when he entered the Saudi consulate in Istanbul. Saudi Arabia has denied wrongdoing. Turkey has reportedly informed the U.S. that it has video and audio evidence showing Khashoggi, who wrote for The Washington Post, was killed inside the consulate.

Khashoggi had been living in the United States as a voluntary exile from Saudi Arabia.

Several senators, led by Republicans Bob Corker and Lindsey Graham, have triggered a U.S. investigation into Khashoggi’s whereabouts. The White House has said senior administration officials, including President Donald Trump’s son-in-law and top advisor Jared Kushner and Secretary of State Mike Pompeo, have been in contact with the crown prince regarding the journalist’s disappearance.

— CNBC’s Mike Calia contributed reporting.


Company: cnbc, Activity: cnbc, Date: 2018-10-13  Authors: yen nee lee, chris somodevilla, getty images
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China echoes IMF pledge to avoid using currency as a trade tool

“China will continue to let the market play a decisive role in the formation of the RMB exchange rate,” Yi said in an International Monetary and Financial Committee (IMFC) statement posted on Saturday. “We will not engage in competitive devaluation, and will not use the exchange rate as a tool to deal with trade frictions.” His statement echoes currency pledges made in a communique issued by the IMF’s member countries on Saturday to step up their trade dialogue as rising tariff frictions, and hi


“China will continue to let the market play a decisive role in the formation of the RMB exchange rate,” Yi said in an International Monetary and Financial Committee (IMFC) statement posted on Saturday. “We will not engage in competitive devaluation, and will not use the exchange rate as a tool to deal with trade frictions.” His statement echoes currency pledges made in a communique issued by the IMF’s member countries on Saturday to step up their trade dialogue as rising tariff frictions, and hi
China echoes IMF pledge to avoid using currency as a trade tool Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-13  Authors: lintao zhang, getty images
Keywords: news, cnbc, companies, currency, imfc, echoes, countries, avoid, tool, imf, pledge, committee, statement, competitive, imfs, china, rate, exchange, member, using, trade


China echoes IMF pledge to avoid using currency as a trade tool

Sec. Mnuchin: China selling US Treasurys would be costly for them 7:41 AM ET Fri, 12 Oct 2018 | 03:47

The yuan has fallen more than 8 percent against the dollar since the end of April to about 6.91 on Friday, close to the psychologically important 7.0 level not seen in a decade.

“China will continue to let the market play a decisive role in the formation of the RMB exchange rate,” Yi said in an International Monetary and Financial Committee (IMFC) statement posted on Saturday. “We will not engage in competitive devaluation, and will not use the exchange rate as a tool to deal with trade frictions.”

His statement echoes currency pledges made in a communique issued by the IMF’s member countries on Saturday to step up their trade dialogue as rising tariff frictions, and higher borrowing costs threaten to knock global growth.

In the statement from the IMF’s steering committee, the member countries also agreed to debate ways to improve the World Trade Organization so it can better address trade disputes.

“We acknowledge that free, fair, and mutually beneficial goods and services trade and investment are key engines for growth and job creation,” the IMFC said in the statement.

“We will refrain from competitive devaluations and will not target our exchange rates for competitive purposes,” it added.


Company: cnbc, Activity: cnbc, Date: 2018-10-13  Authors: lintao zhang, getty images
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This is not the time to hike spending, the IMF tells Italy

The International Monetary Fund (IMF) has one clear message for the Italian government: this is not the time to increase your spending bill. In an interview with CNBC Friday, Poul Thomsen, the IMF’s Europe Department chief, said at this stage of the economic cycle, Italy “should take more advantage of the situation to bring down debt.” The Italian government’s decision to increase public spending in 2019 has raised concerns in Brussels and in financial markets. Italian stocks and government debt


The International Monetary Fund (IMF) has one clear message for the Italian government: this is not the time to increase your spending bill. In an interview with CNBC Friday, Poul Thomsen, the IMF’s Europe Department chief, said at this stage of the economic cycle, Italy “should take more advantage of the situation to bring down debt.” The Italian government’s decision to increase public spending in 2019 has raised concerns in Brussels and in financial markets. Italian stocks and government debt
This is not the time to hike spending, the IMF tells Italy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: silvia amaro, simona granati, corbis news, getty images
Keywords: news, cnbc, companies, hike, increase, told, thomsen, italy, cycle, debt, worried, concerns, imf, stocks, italian, tells, spending


This is not the time to hike spending, the IMF tells Italy

The International Monetary Fund (IMF) has one clear message for the Italian government: this is not the time to increase your spending bill.

In an interview with CNBC Friday, Poul Thomsen, the IMF’s Europe Department chief, said at this stage of the economic cycle, Italy “should take more advantage of the situation to bring down debt.”

The Italian government’s decision to increase public spending in 2019 has raised concerns in Brussels and in financial markets. Italian stocks and government debt have been hit by these concerns, with investors worried that the extra spending will become a problem in the future due to Rome’s massive debt pile.

“Italy needs to consolidate at this point of the cycle and not to relax, as the (budget) plans would entail,” Thomsen told CNBC’s Geoff Cutmore.


Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: silvia amaro, simona granati, corbis news, getty images
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