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IMF International Monetary Fund

IMF Wants to Introduce Compulsory Tax

IMF’s idea of introducing a compulsory tax on household assets could decrease state debt earns harsh criticism. Economists reject the idea.

November 4, 2013

Slovenia: Highest Contribution of GDP to ESM

As reported by Slovenia Times, the country has spent 2.8 percent of GDP for the Euro Stability Mechanism (ESM) last year.

November 4, 2013

Slovenia: Banking Act Approved

The Slovenian Parliament has voted for an amendment of the banking act. It is still unclear whether Slovenia is able to recapitalize the banking sector sufficiently.

November 1, 2013

Slovenia: Parliament Approves Amendmends to Banking Act

Measures were taken to reduce costs for winding up of two small Slovenian banks.

October 30, 2013

IMF on Slovenia: “Cleaning Up Banks is the Priority”

The IMF urges Slovenia to restructure its ailing banking sector. Slovenia faces expensive bank aid-programs.

October 29, 2013

Banking Sector: Pressure on Slovenia Grows

The IMF calls Slovenia to re-capitalize the banking sector immediately. However, Slovenia´s financial situation is already more than tense.

October 29, 2013

Romania: Taxes Expected to Be Raised

The local press reports that numerous anonymous sources from the larger ruling party say that the executive is considering a hike in profit and income tax.

October 28, 2013

Slovenia: Bailout Comes Closer

The ailing country is not expected to manage the financial crisis on its own. Calling for support from Brussels seems to be the last remaining alternative.

October 28, 2013

Bulgarian President Calls for TTIP

Bulgaria’s economy would benefit from a free trade agreement between EU and USA.

October 25, 2013

Romania: Precautionary Financial Assistance Approved

The Council of the European Union has approved a new precautionary financial assistance program for Romania in extend of € 2bn in connection with a loan by the International Monetary Fund (IMF).

October 25, 2013

Croatia: 2012 Budget Deficit Revised

Because of the different EU methodology, Croatia had to revise its budget gap. The fiscal situation remains critical.

October 23, 2013

Romania Plans Next Privatization

According to the Romanian government, Romtelecom may be partly privatized via the Bucharest Stock Exchange.

October 23, 2013

EBRD Analyzes Slovenia´s Difficulties

From October 21 to 25, a delegation from the European Bank for Reconstruction and Development will visit the ailing country.

October 21, 2013

Poland: IMF Upgrades Growth Forecasts

According to the IMF, Poland´s GDP growth will reach 2.4%. In the prior forecast, the IMF anticipated a 2.2% growth rate.

October 21, 2013

Bulgaria: FDI Inflow Shrinks Drastically

In the first eight months of 2013, foreign direct investments fell by more than 51%. Without impulses from foreign investors, the country will not return to growth.

October 21, 2013

Romanian Romgaz Starts IPO

Tomorrow, Monday, the Romanian government sells a 15% stake in Romgaz via the stock exchange. In the last months, the IMF has urged Romania to accelerate the privatization policy.

October 21, 2013

Bulgaria to Encourage Chinese Investments

Investments from China in Bulgaria currently come at € 85m, reports SME Times.

October 18, 2013

IMF Warns of Financial Instability in CESEE

Due to the high non-performing loan quota and the deleveraging of Western banks, the countries of Central, Eastern and Southeastern Europe are still far from financial stability.

October 18, 2013

Romania: Privatization of Railroad Company Flopped

The privatization of Romanian freight railroad company CFR Marfa failed. The sale of shares is part of the conditions with IMF, the World Bank and the European Union.

October 17, 2013

Albania: Economic Growth below Potential

Structural reforms are needed to boost productivity and competitiveness and avoid weaknesses, according to the International Monetary Fund (IMF).

October 15, 2013

Experts Urge Serbia to Accelerate Austerity Measures

It is still questionable whether the austerity measures announced by the Serbian government are sufficient.

October 15, 2013

Calculated Optimism in Slovenia

Slovenia´s Ministry of Economics expects a return to growth in the course of next year. According ot economists, this forecast is leading to doubt.

October 15, 2013

IMF: Hungary´s Fiscal Situation Deteriorates

According to the IMF, Hungary´s public debt quota will increase. This stands in opposition to the optimistic forecasts of the government.

October 15, 2013

Romania Keeps Majority Stake in Romgaz

Romania´s government will privatize 15% of the country´s biggest natural gas producer. The opening of the economy to foreign investors bears potential dangers.

October 12, 2013

IMF: „Banks and Companies in a Vicious Circle“

Not only Greece, Spain or Portugal are struggling with a financially stricken banking sector. In Southeastern Europe, the situation is quite similar.

October 11, 2013

IMF: Serbia´s Reforms are Not Sufficient

On the occasion of a visit in Serbia, the IMF commented the efforts of the Serbian government to cut the budget gap. The austerity cuts are right, but the country needs further reforms, IMF´s team said.

October 10, 2013

Slovenia Cannot Escape the Vicious Circle

Slovenia still aims to manage its banking crisis on its own. After the new economic forecast issued by Slovenia´s National Bank, this aim suffers another setback.

October 10, 2013

Romania Under Observation

The IMF wants Romania´s government to put more effort in austerity measures, market liberalization and privatization of state-owned assets.

October 9, 2013

Bratusek: “We Are Paying for Your Debts”

On Tuesday Slovenian Prime Minister Alenka Bratusek presented the budget draft for 2014 and 2015 to the members of parliament.

October 9, 2013

Serbia Fights Against National Bankruptcy

The Serbian government has decided to implement a new austerity package. Above all, civil servants face substantial salary cuts.

October 9, 2013

IMF Forecasts Only Minimal Growth for Austria in 2013

The International Monetary Fund (IMF) forecasts not even one half percent of GDP growth this year for Austria. However, 2014 has better chances for accelerated growth.

October 8, 2013

Serbia: IMF as Last Exit

After unsuccessful negotiations in spring, Serbia is forced to ask the IMF for financial support. The fiscal policy is not the only weak point of the Balkan country.

October 8, 2013

World Bank Supports Financial Reporting in CESEE

The World Bank launched a new program to strengthen corporate financial reporting in the countries of the EU’s Eastern Partnership.

October 3, 2013

Croatia Tries to Avoid Bail-Out by IMF

The 28th EU member country has severe fiscal problems. In order to avoid the IMF, Croatia borrows about $ 1.5bn on the U.S. market.

October 2, 2013

Slovenia: Asset Quality Deteriorates Rapidly

The government of the financially stricken country comes more and more under pressure. In meantime, about 17% of the Slovenian loans are classified as “risky”.

October 1, 2013

Hungary is Seeking New Creditors

The Hungarian public debt agency AKK intends to sell more sovereign bonds in Asia. Compared to other European countries, Hungary´s debt burden causes severe difficulties.

September 27, 2013

Slovenia: Controversies Over New Budget

Slovenia´s Prime Minister Alenka Bratusek links the approval to the austerity budget to a vote of confidence.

September 25, 2013

Croatia to Issue Dollar Bonds

In order to cover its foreign exchange needs, Croatia will issue a dollar bond with a size of $ 2.7bn.

September 24, 2013

Slovenia in a Decisive Phase

According to Bostjan Jazbec, Govenor of the Bank of Slovenia, the coming weeks will be critical for the small Eurozone member country.

September 23, 2013

Austria: Tax Burden Grows

The Austrian public revenue ratio is significantly above the average tax quota in the Eurozone. The upward trend goes on.

September 21, 2013

Slovenia: First Budget Surplus in 2013

For the first time this year, Slovenia shows a budget surplus of € 15m. However, the deficit of the first eight months is as high as € 1.3bn, according to data by the Finance Ministry.

September 20, 2013

Slovenia: Privatization Program to Boost FDI?

The government of the financially ailing country is forced to privatize a substantial part of the publicly held companies. Prime Minister Bratusek hopes foreign direct investments to increase.

September 20, 2013

Romania Is Recovering According to PM

Romanian Prime Minister Victor Ponta presented the key issues on the new agreement with the EU Commission, the International Monetary Fund (IMF) and the World Bank to the parliament on Tuesday.

September 19, 2013

Croatia: No End of Recession in Sight

For the seventh quarter in a row, Croatia´s GDP was down. The main problem is the weakening domestic consumption and the high unemployment quota.

September 19, 2013

Slovenia: Bankruptcy Without ECB/ESM?

Without external aid, Slovenia will not manage its severe financial crisis, experts say. A bail-out becomes more likely.

September 15, 2013

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
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