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IMF praises Saudi Arabia, Kuwait, UAE support for Jordan

By   /  June 16, 2018  /  Gulf Countries  /  No Comments

JEDDAH: The International Monetary Fund (IMF) described as a “positive step” the decision by Saudi Arabia, the UAE and Kuwait to provide an economic aid package worth $2.5 billion to crisis-hit Jordan over the next five years. The IMF expressed its hope that the package would enable Jordan to implement “bold” reforms to tackle high unemployment […]

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IMF warns US fiscal policies could hurt global economy

By   /  June 15, 2018  /  Business  /  No Comments

SAN FRANCISCO: The International Monetary Fund on Thursday issued a stern warning that said current fiscal policies of the U.S. could soon hurt the country’s and the global economy. The IMF said in a report that policies driven by the Republican-led Congress and White House that cut taxes, increases government spending and impose new tariffs might […]

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$2.5bn Gulf aid package puts Jordan on right path

By   /  June 12, 2018  /  Gulf Countries  /  No Comments

AMMAN: Financial support agreed by Saudi Arabia, Kuwait and the UAE is a boost for new prime minister For Jordanians, it was the timing of the announcement that was most significant. The Kingdom is reeling from the effects of increased prices as part of an austerity drive to satisfy the International Monetary Fund (IMF) and […]

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IMF expects Saudi growth to accelerate on reform program

By   /  May 23, 2018  /  Business  /  No Comments

The International Monetary Fund (IMF) said that Saudi Arabia was making good progress in implementing reforms which should spur economic expansion this year. The IMF said that the primary challenges for the government are to sustain the implementation of reforms, achieve the fiscal targets it has set, and resist the temptation to re-expand government spending […]

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Jordanian cabinet approves new IMF-guided tax law to boost finances

By   /  May 22, 2018  /  Business  /  No Comments

AMMAN: Jordan’s cabinet on Monday approved major IMF-guided proposals that aim to double the income tax base, as a key part of reforms to boost the finances of a debt-burdened economy hit by regional conflict. “When only 4 percent of Jordanians pay (personal) income tax, this may not be the right thing,” Finance Minister Omar […]

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India calls for ‘quota-based resource base’ for IMF

By   /  April 22, 2018  /  Business  /  No Comments

Washington/New Delhi, April 22  Calling for a timely review of the International Monetary Fund (IMF)’s quota system, India has urged for the creation of a robust quota-based permanent resource base for the multilateral lender to mitigate risks to the international monetary system. The call was made by Union Finance Minister Arun Jaitley in his speech […]

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IMF expects India’s role to expand in Indo-Pacific region

By   /  April 21, 2018  /  Business  /  No Comments

United Nations, April 21  The International Monetary Fund expects India’s role in the Indo-Pacific region’s development to continue to expand because of its robust growth, but it has to carry out more trade reforms, Ken Kang, the deputy director in IMF’s Asia Pacific Department said on Friday. “Given our robust growth forecast where we see […]

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IMF chief urges policymakers to steer clear of all protectionist measures

By   /  April 20, 2018  /  World  /  No Comments

WASHINGTON — Christine Lagarde, Managing Director of the International Monetary Fund (IMF), on Thursday urged policymakers to steer clear of all protectionist measures amid rising trade tensions between the United States and its major trading partners. “Trade restrictions have not been proven helpful and we suspect that they might even dent confidence,” Lagarde said at […]

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IMF’s Lagarde criticizes protectionism, urges cooperative approach as China-U.S. trade row builds up

By   /  April 20, 2018  /  World  /  No Comments

WASHINGTON — Managing Director of the International Monetary Fund (IMF) Christine Lagarde warned Thursday escalation of trade conflicts risk reversing the current upswing in global economic growth, urging countries to negotiate regulations in a cooperative manner. “The momentum behind the cyclical global expansion remains strong, but escalating trade conflicts and financial market volatility highlight downside […]

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IMF urges US to reduce debt as economic recovery continues

By   /  April 20, 2018  /  Business  /  No Comments

Washington, April 20 : The Managing Director of the International Monetary Fund, Christine Lagarde, urged the administration of US President Donald Trump here on Thursday to reduce the government’s debt and deficit in the context of a continued economic recovery. “In order to deal with entitlements, the United States should take advantage of the current upswing […]

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