Sponsored Content
IMF International Monetary Fund
Czech Economy to Shrink by 1.0% This Year
According to IMF, the Czech GDP will shrink by 1.0% this year. Next year an economic growth rate of 0.8% is expected.
October 10, 2012
IMF Issues Optimistic Forecast for Slovakia
According to IMF, Slovakia´s economy will grow by 3.3% this year. However, the forecast had to be reduced compared to the prior forecast.
October 10, 2012
Serbia´s National Bank Fights Against Inflation
Today, the Serbian National Bank raised the base rate from 10.50% to 10.75%. IMF has lowered the economic outlook for Serbia.
October 9, 2012
Austria May Escape the Crisis
According to the latest forecast by IMF, expected economic growth in Austria comes at 0.9% this year. In the CEE countries, an average economic growth of 2.0% is forecasted.
October 9, 2012
New Austerity Package in Hungary
In order to cut the budget defict below 3.0% of GDP in 2013, the Hungarian government plans further cuts and tax increases.
October 5, 2012
IMF Puts Pressure on Slovenia
Slovenia is urged to implement quick reforms. Otherwise the country may have to be bailed out by the safety net.
October 3, 2012
Serbia to Grow in 2013
The Serbian economist Jurij Bajec explained that the Serbian economy will recover next year. Real GDP growth will reach 2.0%, he says.
October 1, 2012
Serbia Expects Rising Tax Intake
In order to meet demands of IMF, the Serbian Parliament approved the revised 2012 budget. The tax intake will not solve the country´s problems, economists consider.
September 29, 2012
Serbia Asks China for Loan
The Serbian Minister of Finance Mladjan Dinkic asked the Chinese Exim Bank for a € 850m loan in order to realize construction projects. IMF is not satisfied with Serbia´s austerity policies yet.
September 26, 2012
Hungary „Still Obtains Funding from the Financial Market“
Vince Szalay-Bobrovniczky, the Hungarian ambassador in Vienna, emphasized that Hungary is not dependent on the IMF loan. The IMF urges Hungary to reduce its bureaucracy, he says.
September 26, 2012
Serbia to Privatize Publicly Held Companies
In order to reduce the budget deficit, the Serbian Minister of Finance Mladjan Dinkic plans to sell a part of the state-owned companies.
September 22, 2012
Breuss: „We Must Feed Them All“
The Austrian economist expresses his concerns regarding the second package for Greece.
September 21, 2012
Hungary Revises GDP Forecasts
Initially, the Hungarian government forecasted a GDP growth rate of 0.1% this year. Now, State Secretary Gyula Pleschinger explained that Hungary´s economy will shrink this year.
September 20, 2012
IMF-Loan: Orban Demonstrates Optimism
According to Hungary´s Prime Minister Viktor Orban, the negotiations with IMF are proceeding on schedule.
September 18, 2012
Croatia´s Fight Against the Recession: More Austerity and Increase in Exports
According to Paul Krugman, the development of Croatia´s economy depends on the performance of the export-oriented industry.
September 14, 2012
Infringement Proceedings Against Hungary?
The Commission of the European Union is said to start infringement proceedings against Hungary because of the introduction of financial transaction taxes.
September 13, 2012
Hungary: Difficult Negotiations with IMF
The relation between Hungary´s Prime Minister and IMF is chronically tensioned. Another delay of the conclusions of the negotiations is likely.
September 12, 2012
Serbia Lifts VAT Rate
In order to prevent the national bankruptcy, the Serbian government raises the VAT by two percentage points.
September 11, 2012
Slovenian Crisis: Opposition Reassures
Recently, Prime Minister Janez Jansa warned of a national bankruptcy. For the opposition, Slovenia is far from declaring its illiquidity.
September 11, 2012
Romanian Romgaz to be Privatized
The privatization of Romgaz at Bukarest Stock Exchange may become Romania´s biggest IPO. According to the Romanian news agency hotnews, other big privatizations in Romania may be postponed.
September 10, 2012
Hungary: Orban Rejects IMF´s Conditions
This week, a list containing IMF´s conditions for a € 15bn loan became public. However, it is not known whether the list is a counterfeit. Not at this price and not in this way.” Hungary´s Prime Minister Viktor Orban said.
September 8, 2012
Romania Leaves Recession Behind
In the second quarter, Romania´s GDP was up by 0.5% The construction industry was the driving force.
September 8, 2012
IMF: List of Demands against Hungary Became Public
The list contains demands of the IMF against Hungary and is the precondition for the safety loan of € 20bn. However, the list could be a counterfeit.
September 7, 2012
S&P: Foreign Currency Loans Endanger Austrian Banks
According to the U.S. rating agency, the high volume of foreign currency loans is a big danger for Austria´s banks. Nevertheless, the Austrian banking sector achieved the second best rating.
September 6, 2012
Slovenia: „Irish or Greek Way“
The Slovenian economist Egon Zakrajsek explains that Slovenia´s illiquidity only a question of time. The problem banks should be sold, he recommends.
September 5, 2012
Slovenia: “Danger for Austrian Banks is Limited”
Although Austria would be most affected by a Slovenian national bankruptcy, the likeliness of this scenario is rather low, analysts say.
September 3, 2012
Slovenian Bankruptcy Would Hit Austria Particularly Hard
Prime Minister Janez Jansa announced that Slovenia may have to declare its national bankruptcy in October. Austria´s share in foreign direct investment made in Slovenia reaches about 50%.
September 3, 2012
IMF: Austria Must Prevent Spillover Effects
The Executive Board of the International Monetary Fund (IMF) has concluded the Article IV consultation with Austria. The Austrian banking sector is “overly ambitious” in the CESEE region, IMF says.
September 3, 2012
Romania Still Shows Weak Growth Rates
“We expect economic recovery to remain sluggish. Weak external demand suggests exports and industry would not offer support to GDP growth. “ RCB (Raiffeisen Centrobank) says.
August 31, 2012
Serbian Government Tries Act of Liberation
Serbia´s economy weakens, the outlook is negative. Even a bankruptcy is not excluded anymore.
August 29, 2012
Serbians Push Government for Reforms
The support for an EU membership has fallen below 50%. However, more Serbians call for economic and social reforms.
August 27, 2012
Austrian Guarantees Total € 80bn
In the worst case, Austria´s public debt quota may increase up to 100%, the Austrian opposition warns.
August 27, 2012
Orban Underlines Success of Hungarian Crisis Management
Hungary´s Prime Minister Viktor Orban wants to lower the public debt quota further. Hungary´s recession would be due to the weak Eurozone, he says. Orban forgot to mention some details, however.
August 24, 2012
Croatia: Non-Performing Loans on the Rise
Almost one out of seven loans is classified as “non-performing.” A further aggravation is rather likely.
August 22, 2012
New Property Tax in Croatia
Slavko Linic, Finance Minister of Croatia, confirmed that Croatia will introduce a property tax in 2013. There would be no need for an IMF loan, Linic argues.
August 21, 2012
Hungary´s Public Debt Decreasing
Due to the weak euro, Hungary´s public debt quota decreased by 1.3% percentage points within only one quarter.
August 20, 2012
Hungary Faces Recession Again
In the second quarter of 2012, Hungary´s GDP was dwon by 0.2%. The decrease in exports is the main reason.
August 16, 2012
Profits Grow Slower in Polish Banking Sector
The Polish banking sector is still very stable. However, a trend reversal is foreseeable.
August 10, 2012
East European Banking Industry Shows Ambiguity
For West European banks, their subsidiaries in Eastern Europe are either highly problematic or the cash cows.
August 8, 2012
Croatia: Crisis Sharpens
The Croatian recession seems to continue. Consumption falls further, unemployment continues to rise.
August 7, 2012
Serbia: Struggle for Central Bank Sharpens
After the resignation of governor Dejan Soskic, the EU warns Serbia of abolishing the independence of the Serbian Central Bank.
August 6, 2012
Hungary: Slow Progress in Talks with IMF
The negotiations with IMF about a € 15bn loan will be resumed in September. According to economists, a final agreement is highly uncertain.
August 1, 2012
Austrian Banking Industry Records Higher Profits
In the first quarter of 2012, Austria´s bank achieved a consolidated net income after taxes and minorities of € 2.12bn.
July 27, 2012
Rising Serbian Budget Deficit Causes Worries
This year, Serbia has to borrow € 4.2bn. A budget deficit of € 300m is forecasted in 2012.
July 24, 2012
IMF: Doubt on Hungary´s Economic Data
For the IMF, the budgetary forecasts are too optimistic. The negotiations on the € 15bn loan continue.
July 23, 2012
„IMF Is Not Our Enemy“
Hungary´s Prime Minister Viktor Orban returns to the bargaining table. The country needs up to € 20bn.
July 17, 2012
IMF: New Central and Eastern European Constituency
Austria, Belarus, the Czech Republic, Hungary, Kosovo, the Slovak Republic, Slovenia and Turkey have established a Central and Eastern European Constituency at the International Monetary Fund.
July 11, 2012
Big Exposure in Foreign Currency Loans
In Austria, domestic banks have outstanding foreign currency loans of € 51bn. In CESEE countries, the exposure comes at € 130bn.
July 10, 2012
Performance of Austrian Banks Remarkably Down
Austria seems to be significantly „overbanked“: Austrian banks only achieve a 0.1% yield on the capital employed.
July 9, 2012
Hungary: Negotiations on IMF Loan to be Concluded in Autumn
Since January, the Hungarian government tries to secure a € 15bn loan by IMF and the European Central Bank. A final solution may be found in the next months.
July 7, 2012
Fast News Search
