News from Around the World

Argentina: how IMF’s biggest ever bailout crumbled under Macri

The decision to seek what became the biggest bailout in the IMF’s history took only a few minutes.

A loss of faith in Argentina’s reform programme had been visibly demonstrated by a two-week run on the peso in spring last year. President Mauricio Macri had few options left. A long-mooted contingency plan went into action.

China, U.S. to Hold Trade Talks in October as Mistrust Remains

China and the U.S. announced that face-to-face negotiations aimed at ending their tariff war will be held in Washington in the coming weeks, amid skepticism on both sides that any substantive progress can be made.

Georgieva closes in on top IMF job as no challengers seen: sources

WASHINGTON (Reuters) - Bulgarian economist Kristalina Georgieva was expected to be the only candidate considered to lead the International Monetary Fund as a nomination deadline drew to a close on Friday, two people familiar with the process said.

China’s exports to the US are falling sharply as Trump escalates the trade war

China’s exports unexpectedly fell in August as shipments to the United States slowed sharply, pointing to further weakness in the world’s second-largest economy and underlining a pressing need for more stimulus as the Sino-U.S. trade war escalates.

Asian markets gain ahead of ECB meeting

Asian markets mostly gained in early trading Wednesday, ahead of expected further monetary easing by the European Central Bank.

Merkel Rejects Growing Calls to Fend Off Slowdown With More Spending

Chancellor Angela Merkel rejected growing calls at home and abroad to fend off an economic slowdown with increased spending, saying that the problem wasn’t a shortage of money for investment.

Fed Steps Into Repo Market to Control Soaring Rates

The Federal Reserve Bank of New York said it would carry out up to $75 billion of transactions known as repurchase agreements on Tuesday to relieve funding pressure in overnight money markets.

Strains developed Monday in short-term financing markets that suggested the central bank could lose control of its benchmark federal-funds rate. 

US Federal Reserve intervenes for third time to ease money market strains

Pressure is mounting on the Federal Reserve to ease the strain on US money markets after the central bank was forced to intervene on Thursday for the third time using a type of operation it last resorted to during the financial crisis a decade ago.

‘Secret’ IMF Meeting With Erdogan’s Foes Draws Government’s Ire

The International Monetary Fund got caught in the political cross-fire in Turkey after what government officials called its “secret” meeting with opposition party representatives and dissident economists on Saturday in Ankara.

On a visit as part of the fund’s Article IV consultation, an annual economic assessment of each of its member countries, top IMF officials met with representatives of CHP and IYI opposition parties, according to reports over the weekend.

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.