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Media outlets including CNBC, Financial Times, CNN and The New York Times have also withdrawn from the event, citing concerns about Khashoggi’s disappearance.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


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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 :
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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.

“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.


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‘I would not associate Jay Powell with craziness,’ says IMF’s Christine Lagarde

International Monetary Fund managing director Christine Lagarde said Thursday she “would not associate” U.S. Federal Reserve Chairman Jerome Powell “with craziness.” “I would not associate Jay Powell with craziness. Lagarde made the comment in response to a question from CNBC’s Geoff Cutmore about U.S. President Donald Trump. I think the Fed has gone crazy,” the president said after walking off Air Force One in Erie, Pennsylvania for a rally. Lagarde added: “All over the world, it is certainly a


International Monetary Fund managing director Christine Lagarde said Thursday she “would not associate” U.S. Federal Reserve Chairman Jerome Powell “with craziness.” “I would not associate Jay Powell with craziness. Lagarde made the comment in response to a question from CNBC’s Geoff Cutmore about U.S. President Donald Trump. I think the Fed has gone crazy,” the president said after walking off Air Force One in Erie, Pennsylvania for a rally. Lagarde added: “All over the world, it is certainly a
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'I would not associate Jay Powell with craziness,' says IMF's Christine Lagarde

International Monetary Fund managing director Christine Lagarde said Thursday she “would not associate” U.S. Federal Reserve Chairman Jerome Powell “with craziness.”

“I would not associate Jay Powell with craziness. No, no, he comes across, and members of his board, as extremely serious, solid and certainly keen to base their decisions on actual information, and decide to communicate that properly,” she said, speaking to CNBC at the IMF and World Bank annual meetings in Bali, Indonesia.

Lagarde made the comment in response to a question from CNBC’s Geoff Cutmore about U.S. President Donald Trump. The American leader knocked the Fed on Wednesday for continuing to raise interest rates despite some recent market turbulence.

“I think the Fed is making a mistake. They are so tight. I think the Fed has gone crazy,” the president said after walking off Air Force One in Erie, Pennsylvania for a rally.

Lagarde added: “All over the world, it is certainly a good principle to have independence of the central banks and of the central bank governors. Certainly we have advocated that in all countries, and I think that the Fed is no exception.”


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Global growth is ‘probably not enough’ to withstand a trade war, IMF’s Christine Lagarde warns

The global economy, while still growing, has hit a plateau and may not be strong enough to withstand rising trade tensions, International Monetary Fund (IMF) Managing Director Christine Lagarde said Thursday. The IMF earlier this week cut its forecast for global growth to 3.7 percent this year and next year — down 0.2 percentage points from an earlier estimate. The downward revisions mean that the global economy would grow by the same rate for three consecutive years starting 2017. “Moreover, so


The global economy, while still growing, has hit a plateau and may not be strong enough to withstand rising trade tensions, International Monetary Fund (IMF) Managing Director Christine Lagarde said Thursday. The IMF earlier this week cut its forecast for global growth to 3.7 percent this year and next year — down 0.2 percentage points from an earlier estimate. The downward revisions mean that the global economy would grow by the same rate for three consecutive years starting 2017. “Moreover, so
Global growth is ‘probably not enough’ to withstand a trade war, IMF’s Christine Lagarde warns Cached Page below :
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Global growth is 'probably not enough' to withstand a trade war, IMF's Christine Lagarde warns

The global economy, while still growing, has hit a plateau and may not be strong enough to withstand rising trade tensions, International Monetary Fund (IMF) Managing Director Christine Lagarde said Thursday.

The IMF earlier this week cut its forecast for global growth to 3.7 percent this year and next year — down 0.2 percentage points from an earlier estimate. The downward revisions mean that the global economy would grow by the same rate for three consecutive years starting 2017.

“The real question is: Is the economy strong enough? To that, my answer is ‘probably not enough’ because we clearly see growth has plateaued three years in a row — it is at 3.7 percent — and we also see that growth is unevenly allocated around the world,” Lagarde told reporters at the IMF and World Bank annual meetings in Bali, Indonesia.

“Moreover, some of the risks that we have highlighted at our spring meetings in April have now begun to materialize, especially from the rising trade barriers,” she added. “If these tensions were to escalate, the global economy would take a significant hit.”

In addition to the hit to economic growth prospects, worsening trade tensions could also trigger another global financial crisis, the IMF said earlier this week.

Lagarde said the best response to the ongoing tensions is to “de-escalate, fix the system, don’t break it.” She added that the casualties won’t just be the U.S. and China — the two largest economies in the world in the center of the current tariff fight – but also countries that are part of the global supply chain and suppliers of raw materials to manufacturers involved in the dispute.


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Tariff decisions are ‘eroding confidence’ in many corners of the world: IMF’s Lagarde

Tariff decisions are ‘eroding confidence’ in many corners of the world: IMF’s Lagarde19 Hours AgoChristine Lagarde of the International Monetary Fund says de-escalating trade tensions, addressing the issues and proposing new frameworks is imperative.


Tariff decisions are ‘eroding confidence’ in many corners of the world: IMF’s Lagarde19 Hours AgoChristine Lagarde of the International Monetary Fund says de-escalating trade tensions, addressing the issues and proposing new frameworks is imperative.
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Tariff decisions are 'eroding confidence' in many corners of the world: IMF's Lagarde

Tariff decisions are ‘eroding confidence’ in many corners of the world: IMF’s Lagarde

19 Hours Ago

Christine Lagarde of the International Monetary Fund says de-escalating trade tensions, addressing the issues and proposing new frameworks is imperative.


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Trade tensions are the biggest risk for the euro zone, the IMF says

The ongoing tensions over international trade are the biggest economic risk to the euro zone, the managing director of the International Monetary Fund said Thursday. The first of them is trade tensions. “First on the list of risks is clearly the series of trade tensions that has been initiated by the tariff increase on steel and aluminium,” Lagarde said, referring to the actions of U.S. President Donald Trump’s administration. Trump announced in March he would be putting a 25 percent tariff on s


The ongoing tensions over international trade are the biggest economic risk to the euro zone, the managing director of the International Monetary Fund said Thursday. The first of them is trade tensions. “First on the list of risks is clearly the series of trade tensions that has been initiated by the tariff increase on steel and aluminium,” Lagarde said, referring to the actions of U.S. President Donald Trump’s administration. Trump announced in March he would be putting a 25 percent tariff on s
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Trade tensions are the biggest risk for the euro zone, the IMF says

The ongoing tensions over international trade are the biggest economic risk to the euro zone, the managing director of the International Monetary Fund said Thursday.

Though the euro area enjoyed an economic expansion “above potential” in 2017, “the momentum is slowing down a bit at the moment, Christine Lagarde, managing director of the IMF told reporters in Luxembourg, adding that it is likely the Fund will be “modestly” lowering its economic forecasts in July.

The Fund doesn’t expect the economic slowdown to be “sharp,” partly because monetary policy will continue to support growth in the 19-member region. But, according to Lagarde, there’s a series of economic risks. The first of them is trade tensions.

“First on the list of risks is clearly the series of trade tensions that has been initiated by the tariff increase on steel and aluminium,” Lagarde said, referring to the actions of U.S. President Donald Trump’s administration.

Trump announced in March he would be putting a 25 percent tariff on steel imports and another of 10 percent on aluminium imports. Despite a temporary exemption, the European Union, and therefore the euro zone, became subject to those tariffs at the start of June.

In retaliation, the European Union is implementing as of Friday new duties against U.S. goods, such as orange juice, sweetcorn, peanut butter and blue jeans.


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Truth and transparency are key to rebuilding trust, IMF’s Lagarde says

The International Monetary Fund welcomed calls from the U.S. that it should push for more transparency in global trade and lending, the Fund’s boss said Sunday. Mnuchin additionally proposed the IMF and World Bank should develop an action plan to address growing debt associated with Chinese lending. Lagarde issued a warning over record-high global debt, which reached $164 trillion according to the IMF’s latest Fiscal Monitor. Lagarde said transparency between governments and institutions is esse


The International Monetary Fund welcomed calls from the U.S. that it should push for more transparency in global trade and lending, the Fund’s boss said Sunday. Mnuchin additionally proposed the IMF and World Bank should develop an action plan to address growing debt associated with Chinese lending. Lagarde issued a warning over record-high global debt, which reached $164 trillion according to the IMF’s latest Fiscal Monitor. Lagarde said transparency between governments and institutions is esse
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Truth and transparency are key to rebuilding trust, IMF's Lagarde says

The International Monetary Fund welcomed calls from the U.S. that it should push for more transparency in global trade and lending, the Fund’s boss said Sunday.

IMF Managing Director Christine Lagarde said she’s “delighted” that U.S. Treasury Secretary Steve Mnuchin wants her organization to increase transparency on trade imbalances and debt sustainability in countries like China, an effort she said is already underway.

“It’s clearly a project that we have been working on, that we will continue to work on, and I’m delighted that he’s supporting us,” Lagarde said in a Facebook Live interview with CNBC at the IMF Spring Meetings in Washington.

In a statement Friday from the IMF meetings, U.S. Treasury Secretary Steven Mnuchin urged the IMF to “step up to the plate” to call out countries engaged in unfair trade practices — a frequent refrain from the Trump administration is that its trade penalty threats are not protectionist, but simply seeking “fair” exchange.

Mnuchin additionally proposed the IMF and World Bank should develop an action plan to address growing debt associated with Chinese lending.

“Increasingly we see instances where LICs [low-income countries] have borrowed excessively, and unsustainably, from large, often non-transparent emerging sovereign creditors like China and/or private creditors,” the statement said.

Lagarde issued a warning over record-high global debt, which reached $164 trillion according to the IMF’s latest Fiscal Monitor.

“We need to really keep our finger on that pulse and make sure that we understand where the liabilities are,” she said.

Lagarde said transparency between governments and institutions is essential for the IMF to achieve its mission of global financial stability.

“I think truth and transparency for me are the two key pillars of where we need to go and how we need to help because we are here to serve the countries that have started this institution,” she said.

Lagarde added that digitalization can help improve transparency and efficiency within governments when it comes to collecting revenue, but she warned digital technologies need to be used for “good.”

“Digital, to the extent that it cuts out the middle man, to the extent that it brings money to the surface of the transaction, is extremely helpful,” she said.


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Global trade has an issue with trust, IMF’s Lagarde says

Speaking at the World Bank’s and IMF’s Spring Meetings 2018 conference in Washington, she added: “And when operators, investors, companies are uncertain about terms and conditions under which to organize the supply chain, terms and conditions under which they are going to trade, types of tariffs that they are going to have to pay, they step back and they don’t invest, they delay, they wait.” Trump said Wednesday that the U.S. and Japan would be discussing ways to boost their trade partnership. T


Speaking at the World Bank’s and IMF’s Spring Meetings 2018 conference in Washington, she added: “And when operators, investors, companies are uncertain about terms and conditions under which to organize the supply chain, terms and conditions under which they are going to trade, types of tariffs that they are going to have to pay, they step back and they don’t invest, they delay, they wait.” Trump said Wednesday that the U.S. and Japan would be discussing ways to boost their trade partnership. T
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Global trade has an issue with trust, IMF's Lagarde says

Speaking at the World Bank’s and IMF’s Spring Meetings 2018 conference in Washington, she added: “And when operators, investors, companies are uncertain about terms and conditions under which to organize the supply chain, terms and conditions under which they are going to trade, types of tariffs that they are going to have to pay, they step back and they don’t invest, they delay, they wait.”

Trump said Wednesday that the U.S. and Japan would be discussing ways to boost their trade partnership. The president added that this is his favorite approach to trade — bilaterally.

However, Lagarde told CNBC that in order to deal with trade imbalances “all countries have to be at the table.”

“We have seen protectionist measures on the rise for the last three years, there are issues about intellectual property, there are issues about subsidies to state-owned enterprises, and those have to be debated, they have to be discussed so that there is free trade,” she said.


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Global trading system is at risk of being ‘torn apart,’ warns IMF’s Lagarde

The globalized system that has transformed the world over the last generation is at risk of being completely dismantled amid aggressive turns toward protectionism, warned International Monetary Fund (IMF) Managing Director Christine Lagarde during a speech at the Asia Global Institute in Hong Kong Wednesday. “That system of rules and shared responsibility is now in danger of being torn apart,” Lagarde said, referring to the multilateral trade order she said helped bring millions out of poverty.


The globalized system that has transformed the world over the last generation is at risk of being completely dismantled amid aggressive turns toward protectionism, warned International Monetary Fund (IMF) Managing Director Christine Lagarde during a speech at the Asia Global Institute in Hong Kong Wednesday. “That system of rules and shared responsibility is now in danger of being torn apart,” Lagarde said, referring to the multilateral trade order she said helped bring millions out of poverty.
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Global trading system is at risk of being ‘torn apart,’ warns IMF’s Lagarde

The globalized system that has transformed the world over the last generation is at risk of being completely dismantled amid aggressive turns toward protectionism, warned International Monetary Fund (IMF) Managing Director Christine Lagarde during a speech at the Asia Global Institute in Hong Kong Wednesday.

“That system of rules and shared responsibility is now in danger of being torn apart,” Lagarde said, referring to the multilateral trade order she said helped bring millions out of poverty. “This would be an inexcusable, collective policy failure.”

The director’s sense of urgency stemmed from mounting fears of a trade war, prompted by President Donald Trump’s move to impose steep tariffs on all steel and aluminum imports coming into the U.S., which was swiftly met with retaliation from China and opprobrium from many other trading partners including the EU.


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A complete guide to cyprocurrency regulations around the world

At a G-20 meeting this month, Argentina’s central bank governor outlined a summer deadline for members to have “specific recommendations on what to do” and said task forces are working to submit proposals by July. Italy’s central bank leader told reporters after the meeting in Buenos Aires, Argentina, that cryptocurrencies pose risks but should not be banned, according to Reuters. “The FSB’s initial assessment is that crypto-assets do not pose risks to global financial stability at this time,” b


At a G-20 meeting this month, Argentina’s central bank governor outlined a summer deadline for members to have “specific recommendations on what to do” and said task forces are working to submit proposals by July. Italy’s central bank leader told reporters after the meeting in Buenos Aires, Argentina, that cryptocurrencies pose risks but should not be banned, according to Reuters. “The FSB’s initial assessment is that crypto-assets do not pose risks to global financial stability at this time,” b
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Company: cnbc, Activity: cnbc, Date: 2018-03-27  Authors: kate rooney, getty images, argentine presidency, tomohiro ohsumi, bloomberg, andrew harrer, john thys, afp, justin tallis, pool
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A complete guide to cyprocurrency regulations around the world

View on bitcoin: Legal tender, depending on the country.

Policy on exchanges: No global regulator exists at the moment.

At a G-20 meeting this month, Argentina’s central bank governor outlined a summer deadline for members to have “specific recommendations on what to do” and said task forces are working to submit proposals by July. Italy’s central bank leader told reporters after the meeting in Buenos Aires, Argentina, that cryptocurrencies pose risks but should not be banned, according to Reuters.

The Financial Stability Board, a global watchdog that runs financial regulation for G-20 economies, took a cautious tone in responding to calls from some countries to crack down on digital currencies.

“The FSB’s initial assessment is that crypto-assets do not pose risks to global financial stability at this time,” board Chairman Mark Carney said in a letter on March 18.

Carney, who is also governor of the Bank of England, pointed to the small size relative of the asset class compared with the entire financial syste. “Even at their recent peak, their combined global market value was less than 1 percent of global GDP,” he said.

The International Monetary Fund has also called for more cooperation.

IMF Managing Director Christine Lagarde highlighted cryptocurrency’s potential as a vehicle for money laundering and the financing of terrorism. In a March blog post, Lagarde called for policies that protect consumers in the same way as the traditional financial sector.


Company: cnbc, Activity: cnbc, Date: 2018-03-27  Authors: kate rooney, getty images, argentine presidency, tomohiro ohsumi, bloomberg, andrew harrer, john thys, afp, justin tallis, pool
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