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IMF International Monetary Fund
Austria Must Implement Liquidation Mechanism for Banks
In order to minimize fiscal losses, Austrian problem banks should be liquidates soon, IMF claims. In this case, Austria would not reach its fiscal targets in the next years.
September 13, 2013
Austria: IMF Pushes for Tax Reform
The International Monetary Fund recommends re-considering the tax system. The Austrian wage taxes are too high, IMF criticizes.
September 13, 2013
Eurogroup Grants Cyprus Further € 1.5bn
Payments will be made at the end of September
September 13, 2013
Schieder: IMF Confirms SPÖ-Claims
State Secretary for Finances, Andreas Schieder regards the demands by the International Monetary Fund (IMF) as a confirmation of those by the Social Democrats (SPÖ).
September 11, 2013
IMF: Praise and Criticism for Austria
According to the IMF´s country report, Austria´s main problem is the fiscal situation.
September 11, 2013
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
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: 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
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