Page 3/6

IMF International Monetary Fund

Romania to Issue New Bonds

Romania plans to generate at least € 1bn from a second bond issue.

September 6, 2013

Slovenia: Telekom Austria Hesitates

The Vienna-listed Telekom Austria Group has two major growth opportunities in Slovenia. Slovenian Telekom and Telemach are for sale.

September 3, 2013

Cyprus: Waiting for the Next Bailout Tranche

Crisis-struck member of the Eurozone Cyprus will have to wait for the next payment out of the bailout-package. Before the next tranche will be transferred the small country has to implement key measures.

September 2, 2013

Slovenia: Recession Goes On

In the second quarter, Slovenia´s GDP was down by 1.7% year on year. This year, Slovenia´s GDP will fall by 3.0%, economists say.

September 2, 2013

Hungary: Another Base Rate Cut

Hungary´s National Bank (MNB) has cut the base rate from 4.00% to 3.80%. This is a new record low. Nevertheless, MNB was expected to decide a lower cut.

August 31, 2013

CESEE Faces Economic Recovery

According to Moody´s, the economic outlook for Central, Eastern and Southeastern Europe is positive. Nevertheless, the recovery is still fragile.

August 24, 2013

Cyprus: Bailout Should Have Come Sooner

Cyprus should have applied for an EU rescue package in 2011 to avoid the restrictive terms forced on investors to ensure support, its central bank governor said yesterday.

August 14, 2013

Hungary to Pay Back IMF Credit

A year earlier than necessary € 2.15bn go back to the International Monetary Fund (IMF).

August 14, 2013

Romania: Good Prospects for Economic Upturn

In Romania, the inflation forecast for 2013 and for 2014 has been lowered to 3.1 percent which is 0.1 percent less compared to previous figures.

August 9, 2013

Romania: Another Major Privatization Ahead

Romania´s government intends to sell the publicly held share in the telecommunication group Romtelecom.

August 6, 2013

Ukraine: Negotiations with IMF as Last Exit

Seeking for an IMF loan is the last remaining alternative for the financially stricken country.

August 6, 2013

Romania Initiates Structural Reforms

In order to receive a precautionary loan from the IMF, Romania´s government will implement a series of reform steps. Above all, Romania starts privatizations again. Romania´s economic outlook continues to brighten.

August 3, 2013

Romania’s Economic Recovery Expected to Strengthen.

Staff teams from the International Monetary Fund (IMF), the European Commission (EC), and the World Bank visited Bucharest Romania during July 17–31.

August 1, 2013

Cyprus Is Showing Progress

According to estimates by its international creditors, Cyprus is showing progress at the reorganization of its state budget.

July 31, 2013

Romania: Drop of VAT on Bread and Baked Goods

Around 70 percent of Romanian bread and baked goods are sold on the black market. A drop in VAT is supposed to change that.

July 31, 2013

47.5 Percent Compulsory Levy in Cyprus

Major investors are losing almost half of their assets.

July 30, 2013

Russia: Stronger Regulations for Market for Consumer Loans

Business with consumer credits have started comparatively late in Russia. Now, the market is supposed to be regulated further.

July 29, 2013

ECB: No Risk of Deflation in Europe

The European Central Bank (ECB), in contrast to the International Monetary Fund (IMF), does not see the danger of a general downward trend in prices with all its negative effects for the economy.

July 29, 2013

IMF to Leave Hungary

Hungary´s National Bank MNB has called the IMF to close its representative office. Hungary wants to repay the loan facility provided by the IMF soon.

July 16, 2013

Austrian Economy Dependent on Neighbor Countries

Austria’s economy is getting through the crisis better than the Eurozone. However, the country owes this partly to neighboring countries.

July 11, 2013

Slovenia Can Afford Bank Sector Cleanup Itself

Slovenia intends to use its own funds and avoid having to ask the Eurozone or IMF for aid to restore the stability of its banking sector, said the country's finance minister Uros Cufer.

July 10, 2013

IMF Downgrades Growth Prognosis for Eurozone

According to the International Monetary Fund (IMF), the prospects of growth in the Eurozone are still positive. However, they are not as good as in April. Germany and Austria are concerned as well.

July 10, 2013

Serbia: Fight against Unemployment Key Aim of Government

Serbia's Government aims to cut down unemployment to below 20 percent and tries to attract new investors.

July 9, 2013

Moody’s: Rate Cuts Credit-Negative for Polish Banks

The recently passed cut in interest rates by Poland’s Monetary Policy Council has a negative effect on credits for Polish banks, rating agency Moody’s announced.

June 11, 2013

Fitch to Downgrade Cyprus Again

The rating agency sees high risks for aid programs.

June 4, 2013

Romania: No Investors for Post Company

Debts and a collective agreement which makes restructuring impossible until 2018 are among the main reasons the company is not attractive to potential investors.

May 29, 2013

IMF Recommends Czech Government to Reduce Budget Cuts

With worse-than-expected current economic circumstances the IMF recommends the Czech Republic to moderate budget cuts.

May 22, 2013

Serbia Considering Loan Agreement With IMF

Serbia is considering discussing a possible IMF loan after EU entry talks are agreed on. German Finance Minister Guido Westerwelle announced his support in Serbia’s path to an EU membership.

May 21, 2013

Poland Pressed to Cut Rates

IMF urges Poland to further cut rates.

May 17, 2013

Poland: Economy Not to Recover Before July

Polish economy is not expected to rebound as soon as the second half of this year and only on the condition that export partners see a growing GDP rate.

May 15, 2013

Slovenia to Raise VAT and Sell 15 State Enterpises

Slovenia has announced to put 15 state companies up for sale and raise VAT in order to acquire revenues and avoid international bailout.

May 10, 2013

Nowotny Concerned About Reputation of Austrian Banks

Ewald Nowotny, Govenor of the Austrian National Bank (OeNB), is critical towards the continuing debate about keeping the bank secrecy. He fears that doubts in the integrity of the domestic banking sector could emerge.

April 22, 2013

Cyprus: Increase of Taxes Resolved

The Cyprian parliament has voted for an increase of taxes. Among other things, business taxes will increase from 10 % to 12.5 %.

April 19, 2013

IMF Warns Eurozone of Ongoing Risks to Economic Stability

The International Monetary Fund has warned the Eurozone in a Global Financial Stability Report, urging for a reforming zeal and restructuring of weak banks.

April 17, 2013

Forbes: “Austere Baltic States Outgrow Their European Neighbors”

Forbes magazine has dedicated a comprehensive article about how the Baltic countries manage to conquer the financial crisis.

April 17, 2013

Poland: Favorable Forecast Despite of Recession in 2013

Poland’s economy is the biggest among the younger member states and continues to grow even with the current recession.

April 17, 2013

Austria’s Economy Grows Faster Than Eurozone

Economists of the International Monetary Fund (IMF) are confident for a positive development of Austria’s economy.

April 16, 2013

Cyprus Grants Damaged Foreign Investors Citizenship

Instead of the so-far € 10bn, investors now only have to endow € 3bn in order to obtain the Cyprian citizenship.

April 15, 2013

Cyprus to Receive More Capital

Cyprus requires more money than expected and will receive it. Head of Eurogroup, Jeroen Dijsselbloem, has promised an examination if money laundering exists.

April 12, 2013

Cyprus: Bail-Out Package More Expensive Than Thought

The aid-money needed increases from € 17.5bn to € 23bn, according to Cyprian government.

April 11, 2013

Bad Outlook for Slovenia’s Economy

Slovenia receives bad marks in a report by the EU Commission. Together with Spain, Slovenia’s economy is endagered to collapse in case measures will not be made in the next few weeks.

April 11, 2013

Cyprus to Sell Gold Reserves

The country has to sell reserves in the amount of € 400m. In the meantime, the banking sector has been cut down to one half of its former size.

April 10, 2013

Investigation Report Incriminates Managers of Bank of Cyprus

Mass purchase of Greek state bonds and removing of data.

April 5, 2013

Turkey’s Hopes of a Reunited Cyprus

The financial crisis in Cyprus is, according to Turkish President Abdullah Gül, an important opportunity to overcome the seperation of Cyprus.

April 4, 2013

Cyprus: Prone to Recession

Despite of the bail-out package, the country is threatened by a deep recession in the coming two years.

April 3, 2013

Cyprus: Anastasiades Comes Under Suspicion

President Nikos Anastasiades is in dire straits as he is accused of having transferred huge amounts of money to foreign countries and having warned relatives. In the meantime, the austerity package is almost set.

April 2, 2013

Slovenia: “We Will Need No Bailout This Year”

Since Greece, Spain and Cyprus are currently finding themselves in disastrous economic situations, Slovenia does not want to seem like the next bail-out candidate.

March 30, 2013

Cyprus: 37.5 % Only The First Cut

Assets will be burdened much higher than assumed. Apart from the mandatory levy of 37.5 % a further amount of 22.5 % will be frozen in.

March 30, 2013

Slovenia: Situation For Banks Still Shaky

According to the National Bank, the new government in Slovenia needs to avoid becoming the new setting of bail-out negotiations with the EU after the banking crisis in Cyprus.

March 28, 2013

Medvedev Vexed Over EU

In case the government will not come to conclusion how to generate the required money (€ 5.8bn), the ECB will cut off the money supply for Cyprus’ ramshackle banks.

March 25, 2013