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In Europe 28th May 2014

“Spain has been trying to be a good citizen by keeping the German bankers happy”

MADRID | By Ana Fuentes | Well-known U.S. economic theorist and financial strategist Michael Pettis believes the European project has a blatant, simple economic problem: Germany benefits from a weak euro while Spain suffers from a strong currency. As for the IMF’s recommendation of cutting wages in countries like Spain, Mr Pettis thinks it’s an absurd tip that can only make the global demand imbalance worse. He answered our questions via email from Beijing, where he is currently based.

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Markets 5th May 2014

“We at the IMF see hot spots in the U.S. shadow financial system”

WASHINGTON | By Pablo Pardo | Shadow banking in the U.S. doubles in size to the banking system, just the opposite than in Europe. According to the IMF’s number 3, José Viñals, it’s in the shadow financial where there is “a debt that grows very quickly and investors who are underestimating the risk of certain financial assets.” And he adds: “Careful, we’ve heard that song before.”

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World economy 24th February 2014

G20 delivers growth on paper

MADRID | By J.P. Marín Arrese | Will the Sidney growth strategy fly? Germany and the ECB have voiced open scepticism on its merits. So long as growth continues to gain momentum, they is little chance surplus countries might revamp domestic demand in a co-ordinated effort for anchoring recovery. They will put into practice the well-seasoned “wait and see” strategy.

Parques Reunidos buy Australian water park

World economy 20th February 2014

Lagarde pleads for cooperation before Sydney G20’ s meeting

WASHINGTON | Via IMF’s Staff | Finance Ministers and Central Bank Governors will meet on the Australina city  on February 22-23. The IMF’ s staff has prepared a note as an anticipation of the event. The institution says the recovery is still weak and significant downside risks remain, thus further action and cooperation are needed to promote financial stability and robust economic upturn.

FMI extra dose of austerity

World economy 14th November 2013

‘IMF expects extra dose of austerity for 2015’

LISBON | By Diário de Notícias via Presseurop | The International Monetary Fund (IMF) believes that austerity measures taken until now are sufficient to fulfill the deficit targets set for this year and the next, but anticipates more cuts for 2015, writes Diário de Notícias.

In Europe, Spanish economy 14th October 2013

Spain’s debt trap

MADRID | By JP Marin Arrese | The IMF’s warning on the hefty pile-up of corporate debt has triggered angry comments from top Spanish companies. The Washington-based institution has voiced concern about its destabilizing effect on financial solvency. A lingering recovery is likely to turn liabilities into soaring non-performing assets in banking balance sheets.