IMF

May 21, 2009 – Today, Nebraska Senator Ben Nelson joined a majority of Senators voting to keep additional funding in the 2009 Supplemental Appropriations bill for the International Monetary Fund, which supports global financial stability, trade and growth. An amendment to strip the funding was defeated 64-30.

“We Nebraskans know well that trade and exports provide good jobs and a healthy state economy, and that we live in a global economy,” Senator Nelson said. “With a global recession underway, I can’t imagine why we would back away from the IMF, which exists to promote economic stability around the world.”    » read more »

May 18, 2009 -- WASHINGTON – The U.S. Department of the Treasury today released a letter from the Bretton Woods Committee, which includes the bipartisan support of five former secretaries of the Treasury, four former secretaries of State and America's leading foreign economic policy and national security experts to Speaker Pelosi and Majority Leader Reid expressing their support for the Administration's request for prompt enactment of additional funding for the International Monetary Fund (IMF), including the Obama Administration's request for the IMF's New Arrangements to Borrow (NAB).

Below is the U.S. Treasury Department's Fact Sheet on IMF Reforms and New Arrangements to Borrow.

FACT SHEET
IMF Reforms and New Arrangements to Borrow    » read more »

May 13, 2009 -- Dear Madam Speaker:

Last month, I asked the Congress to consider changes to the level of borrowing authority for the International Monetary Fund (IMF). Today, I formally transmit this request in the accompanying supplemental budget request. I urge that the Congress expand the resources available to the IMF through its New Arrangements to Borrow (NAB) and approve a set of other proposals to strengthen the IMF, including an increase of about $8 billion in the U.S. quota subscription to the IMF.    » read more »

Washington, DC, March 30, 2009 -- Gordon Duguid, Acting Deputy Department Spokesman, Office of the Spokesman, Bureau of Public Affairs, stated: The United States supports the government of Côte d’Ivoire's (Ivory Coast) commitment to an International Monetary Fund-supported (IMF) economic reform program and attainment of the first stage of debt relief under the Enhanced Heavily Indebted Poor Countries Initiative (HIPC). To achieve economic stability and make progress toward completing the HIPC debt relief process, we urge Côte d’Ivoire to fully implement its reform measures, especially those related to fiscal discipline and transparency.    » read more »

Urges Cooperative Approach To Global Problems

June 9, 2008 -- International Monetary Fund (IMF) Managing Director Dominique Strauss-Kahn today urged policy makers around the world to seek a cooperative approach to global challenges stemming from the rise in food and fuel prices and a worldwide economic slowdown linked to spillovers from the U.S. "Policymakers can respond in two ways: they can take the mercantilist approach, looking only at what is best for their country.

Or they can look for multilateral solutions. History has shown us the defects of the first approach and the difficulties of the second," Mr. Strauss-Kahn said in a speech at the International Economic Forum of the Americas in Montreal.    » read more »

June 3, 2008 -- In remarks presented at a High-Level Conference on World Food Security in Rome, International Monetary Fund (IMF) Managing Director Dominique Strauss-Kahn today warned that high food prices are a serious humanitarian concern as well as a source of macroeconomic instability affecting budgets, trade balances, prices and incomes almost everywhere in the world.

He urged donor governments and agencies to move swiftly to support appropriate food aid, particularly for the world's poor, calling effective action a "moral and economic imperative."    » read more »

May 23, 2008 -- Mr. Mario Garza, the International Monetary Fund (IMF) resident representative in Honduras, issued the following statement yesterday in Tegucigalpa:

"The IMF mission that visited Honduras during May 13-21, 2008 discussed policy responses to the weakening external conditions in the context of the Government's program supported by the Stand-By arrangement with the IMF. The mission held policy meetings with the economic cabinet, congress, the state electricity company (ENEE), and the private sector.    » read more »

Explores Challenges Policymakers Face in Seeking to Limit the Impact of Financial Turbulence

April 21, 2008 -- Europe is facing slower growth as a result of protracted financial turbulence, high inflation and spillovers from an expected mild recession in the United States.

IMF headquarters: Washington, D.C.

The IMF's Regional Outlook (REO) for Europe released today projects economic growth in advanced European economies to slow significantly over the next two years to 1.5 percent in 2008 and 1.4 percent in 2009, from 2.8 percent in 2007.

In Emerging Europe, growth is also expected to moderate, to 5.5 percent in 2008 and 5.2 percent in 2009, down from 6.9 percent in 2007.    » read more »

April 11, 2008 -- Economies in the Latin American and Caribbean (LAC) region have generally held up well so far in the face of recent global financial strains, according to the IMF's latest Regional Economic Outlook: Western Hemisphere, released today. Many countries in the region are benefiting from stronger fiscal and external positions and improved credibility of policy frameworks, said Mr. Anoop Singh, Director of the IMF's Western Hemisphere Department.    » read more »

March 12, 2008 -- John Lipsky, First Deputy Managing Director of International Monetary Fund (IMF), called today for "decisive policy action" to strengthen the global financial system, noting that authorities worldwide must also "think the unthinkable" so that they can better anticipate and react to potential global economic risks.    » read more »

21 November 2007 -- The International Monetary Fund's former chief economist says China is violating its rules by keeping its currency artificially undervalued. Michael Mussa says Beijing must revalue its currency for the sake of global economic stability.    » read more »

17 October 2007 -- The International Monetary Fund has released its semi-annual global economic forecast, marking it down by nearly .5 percent, mainly because of a slowdown in the United States.

Global growth is expected to slow to 4.8 eight percent in 2008, from the 5.2 percent advance of this year.

For the first time, says the IMF, fast growing China and India are the principal contributors to global growth. Those economies have been growing at a more than nine percent annual rate, a pace expected to moderate only slightly in 2008.    » read more »

October 3, 2007 -- Martin Petri, International Monetary Fund (IMF) Mission Chief to Burkina Faso, made the following statement today in Ouagadougou:

"An IMF mission team visited Ouagadougou during September 18-October 3 for the 2007 Article IV consultation and first review of the program supported under the Poverty Reduction and Growth Facility (PRGF).1    » read more »

September 28, 2007 -- Mr. Dominique Strauss-Kahn issued the following statement today after the Executive Board of the International Monetary Fund (IMF) selected him as the next IMF Managing Director:

"The Executive Board of the International Monetary Fund has just chosen me to succeed Rodrigo de Rato as Managing Director.    » read more »

WASHINGTON, September 28, 2007 – World Bank Group President, Robert B. Zoellick, today congratulated Dominique Strauss-Kahn on his appointment as IMF Managing Director, issuing the following statement:

“I wish to congratulate Dominique Strauss-Kahn on his appointment and say how much I look forward to working with him. He is a respected leader and economist, with distinguished service as the Finance Minister of France, many years of international experience, and a career of dedicated public service.    » read more »