News from Around the World

Humanitarian investing gathers speed at Davos

DAVOS, Switzerland — Finding ways to channel more private investment into humanitarian settings was a hot topic this year at Davos — the World Economic Forum’s 48th annual meeting in Switzerland — which included the tentative launch of a development impact bond to create jobs for Syrian refugees.

IDB appoints Brian O'Neill as new executive vice president and COO

WASHINGTON — The Inter-American Development Bank has named former U.S. Treasury official Brian O’Neill to serve as executive vice president and chief operating officer.

O’Neill was approved by the IDB Board of Directors on Dec. 14 and will begin his new role in January. He has over 40 years of experience in banking in Latin America, most recently as a senior advisor at Lazard, an international financial advisory and asset management firm. He served as acting U.S. director at the IDB for five months in 2008.

IMF Appoints Harvard’s Gita Gopinath as Chief Economist

The International Monetary Fund appointed Harvard University’s Gita Gopinath as its new chief economist.

Ms. Gopinath, one of the leading scholars in exchange rates, sovereign debt and capital flows, will be the first woman to lead the IMF’s economic research department. She will take over from Maurice Obstfeld, who had previously announced his retirement.

IMF Approves Bulgaria’s Kristalina Georgieva as New Chief

WASHINGTON—The International Monetary Fund formally approved Bulgarian economist Kristalina Georgieva to be its next leader.

The IMF’s board of executive directors on Wednesday voted to select Ms. Georgieva for the role, effective Oct. 1. Currently the No. 2 official at the World Bank, she will take over from Christine Lagarde, who has been selected as the next president of the European Central Bank.

IMF chief joins calls for big tech firms to pay more tax

The managing director of the International Monetary Fund has joined the growing clamour to further tax tech firms Google, Facebook and Amazon as part of a wider review of “outdated” global corporation tax rules.

IMF meets with Argentina opposition candidate

BUENOS AIRES (Reuters) - A team from the International Monetary Fund met on Monday with opposition candidate Alberto Fernandez, the front-runner for October’s presidential election, according to a spokesman for Fernandez.

A three-man IMF team sat down with three representatives from Fernandez’s center-left “Frente de Todos” coalition as well as the candidate himself, according to a statement from Fernandez´s office.

IMF More Pessimistic on Greece’s Growth Prospects and Debt Path

The International Monetary Fund forecasts the Greek economy will grow by 2.3% in 2020, below government estimates, with prospects weighed down by stagnant investment, adverse demographics, and low productivity.

“The Greek economic recovery has been disappointing,” the IMF said in its Article IV report on the country. “Sustained and deeper reform implementation, deploying a full range of policy tools, and strong political resolve to tackle vested interests will be necessary to meaningfully boost investment, growth, and social inclusion,” the fund said.

IMF readies for further danger signals in emerging markets

With Asian equity markets tumbling on Thursday morning, Christine Lagarde, the head of the IMF, used her pulpit at a Balinese beachside conference centre to deliver some marching orders to economic policymakers in emerging markets. 

They should, she said, “use all the tools” at their disposal to stem the capital outflows that would inevitably be triggered by tightening monetary policy in the US, and the escalating trade war between the US and China.

IMF slashes global growth forecast on trade war fears

Global growth is set to fall to its slowest rate since the financial crisis this year, the IMF said on Tuesday, as it warned that the self-inflicted wounds of the US and China’s trade war had created a “precarious” economic situation.

Tit-for-tat tariffs have chilled business confidence and investment, the fund said, leaving global trade in goods almost stagnant and forcing central banks to cut interest rates to shore up growth.

IMF still seeking member guidance on recognizing Guaido as Venezuela's leader

The International Monetary Fund is still awaiting guidance from its member countries on whether to recognize Venezuela’s opposition leader Juan Guaido as the country’s legitimate head of state, IMF spokesman Gerry Rice said on Thursday.