News about IMF: events, facts and developments on tafs uz.
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UK GDP grew 0.1% in August against forecasts of a 0.1% decline. Chancellor John Healey called it a 'sign of resilience' ahead of the 28 October budget. Over three months growth was 0.7%, with computer programming the main contributor. The opposition and Liberal Democrats were sceptical about the data, and analysts warn of inflation risks.
Dilnoza RahimovaRussian Finance Minister Anton Siluanov, ahead of the IMFC meeting in Bangkok on October 15-17, called on the IMF to return to its original, purely economic mandate. He criticized the fund's weakening of its three functions - surveillance, lending, and capacity development - pointed to the high concentration of its credit portfolio (over 61% of outstanding credit with the five largest borrowers), repeated breaches in 56% of programs with QPC waivers, and uneven application of rules. Siluanov urged the IMF to focus on macroeconomic policy analysis, set specific corrective measures, and strengthen oversight of systemically important reserve currency issuers.
Nilufar KarimovaIMF Managing Director Kristalina Georgieva said at a press conference during the IMF and World Bank annual meeting that the United States cannot solve its growing public debt problem through economic growth alone without adjusting taxes and budget spending. She called advanced economies, primarily the US and European countries, leaders in excessive indebtedness, noting that rising government bond yields hurt low-income countries. Georgieva said US budget deficit and debt levels are too high and must be brought to more acceptable levels, stressing that growth alone will not deliver the necessary changes fast enough. The IMF's Fiscal Monitor report released on October 14 also warned that delays in debt-reduction measures will complicate the problem amid rising borrowing costs.
Nilufar Karimova