Fox News - Fair & Balanced

International Monetary Fund

IMF softens views on UK government's policies

The International Monetary Fund has softened its assessment of the British government's economic policies, saying in a report Wednesday that it did well to ease its pace of austerity cuts, but stressing more was needed to support the recovery.The report had been hotly anticipated after the IMF last month criticized the government's focus on debt reduction at the expense of economic growth. But while the Washington-based international lender offered mild sanction, the tone was decidedly less heated than predicted.It praised the government for showing "welcome flexibility in its fiscal program" that it says have earned it credibility in financial markets. However, it warned that the economy, which in the first quarter narrowly dodged a third recession since 2008, needed more support."Given the tepid recovery, policy should capitalize on the nascent signs of momentum to bolster growth," the report said.The verdict came just hours after minutes to the Bank of England's last meeting in May ...

Read More

  1. EU Commission sees Greek recovery but few jobs

    Greece's international lenders say the country's six-year recession is still likely to end in 2014, but unemployment will remain above 20 percent for another three y...

  2. Bank of England sees 'modest, sustained' recovery

    The Bank of England predicted a modest and sustained economic recovery for Britain on Wednesday, but tempered hope that the worst might be over with predictions that...

  3. Egypt appoints 9 ministers in limited reshuffle

    Nine new Egyptian ministers joined President Mohammed Morsi's Cabinet on Tuesday, including two members of his Muslim Brotherhood, in a reshuffle that officials said...

  4. Pakistan's Sharif headed for 3rd term after vote

    Pakistan's former prime minister Nawaz Sharif looked set Sunday to return to power for a third term, with an overwhelming election tally that just weeks ago seemed o...

  5. Pakistan's Sharif declares election victory

    Former Pakistani Prime Minister Nawaz Sharif declared victory following a historic election marred by violence Saturday, a remarkable comeback for a leader once topp...

  6. Job training, loans ease Arab youth unemployment

    Just six months of learning to mend air conditioners changed Mohammed Nabouti's life.Instead of drifting after high school like many of his jobless friends, the 21-y...

  7. A look at the major issues ahead of Pakistani vote

    National elections come at a time of widespread despair in Pakistan, as the country suffers from faltering economic growth, worsening energy shortages and continued ...

  8. S&P cuts Egypt's credit ratings

    Ratings agency Standard & Poor's has pushed Egypt's sovereign credit ratings deeper into junk status, citing "continued pressure" on foreign reserves.In a setback to...

  9. Spain refuses to hand over ex-HSBC worker

    Spain's National Court has ruled against extraditing a former HSBC employee to Switzerland, where he faces charges of stealing and revealing client information.A sta...

  10. Portugal sells bonds for first time since bailout

    Portugal sold 10-year bonds Tuesday for the first time since it needed a bailout in 2011, representing a milestone in efforts to restore investor confidence in the f...

  11. May Day strike disrupts transport in Greece

    Ferry and train services in Greece have ground to a halt as unions hold a strike for May Day.And hundreds of people are gathering for planned rallies in central Athe...

  12. IMF reaches agreement with Jamaica

    The International Monetary Fund says debt-swamped Jamaica could receive up to $958 million in a four-year package.The IMF says it will recommend this new program to ...

  1. IMF head Lagarde in court in fraud probe

    International Monetary Fund chief Christine Lagarde has appeared at a special Paris court to face questioning over a controversial arbitrage deal that she oversaw as...

  2. New Egypt tax law: cuts for poor, business hikes

    Egypt's president has signed a new tax law that cuts the amount paid by poorer Egyptians while increasing taxes on small and medium-sized businesses.The interim parl...

  3. 'No longer valid': Issa looks to call back IRS official who refused to testify

    Republican Rep. Darrell Issa declared Thursday that the embattled IRS official who refused to testify Wednesday had no right to do so, and is now looking to haul her...

  4. IRS official who refused to testify facing more scrutiny over scandal, past

    The IRS official who refused to testify at a House hearing Wednesday has become a key focus of the congressional investigations into the IRS practice of singling out...

  5. IMF report praises Greece, calls for more reforms

    A report by the International Monetary Fund praises Greece for its efforts to reduce big deficits and improve its competitiveness, but warns that more structural ref...

  6. Top officials call to overhaul euro institutions

    Engineering a financial bailout for Cyprus in March was such a chaotic process that top European officials say it is time to rethink how the region manages its crisi...

  7. Look at major issues facing Pakistan's new leader

    The winner of Pakistan's historic national election, former Prime Minister Nawaz Sharif, faces a host of problems, including faltering economic growth, worsening ene...

‹ Prev12345Next ›