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IMF International Monetary Fund

IMF Report: Austria Should Make Cuts in Healthcare, Education, Pensions, Banks Should Raise Equity

Austria's outlook suggests a moderate improvement. The latest IMF report recommends Austria to conduct broad cuts in such areas of spending as healthcare, education and pensions. Also, Austrian banks should raise equity. Unemployment, although rising, has remained moderate at below 6 percent. Strengthening private consumption, investment, and exports are expected to raise growth to about 1½ percent in 2016. The current account surplus exceeds 2 percent of GDP thanks to sustained price competitiveness and robust tourism inflows. The authorities have made significant progress in revamping the regulatory framework for the banking sector. However challenges remain and further measures need to be taken. Therefore the IMF suggests three policy priorities: expenditure reforms, integrate immigrants into the Austrian economy and further strengthen financial sector resilience.

December 14, 2015

Austria to Support China's "Asian Infrastructure Investment Bank"?

The Austrian Finance Ministry confirmed that Austria will participate in the China-proposed Asian Infrastructure Investment Bank (AIIB) project after receiving the appropriate approval from the government. Now it checks for a potential engagement. China is taking matters into its own hands. It will use the new bank to expand its influence at the expense of America and Japan. Its decision to fund a new multilateral bank reflects its frustration with the slow pace of global economic governance reform. China is the biggest economy in Asia, but the Asian Development Bank (ADB) is still dominated by the Japanese: Japan’s voting share is twice China’s and the ADB’s president has always been Japanese. Also, reforms to give China more say at the International Monetary Fund (IMF) have been delayed for years.

March 27, 2015

Background: The New "Asian Infrastructure Investment Bank"

The Asian Infrastructure Investment Bank (AIIB) is regarded by some as a rival for the IMF, the World Bank and the Asian Development Bank (ADB), which are regarded as dominated by developed countries like the United States. AIIB is an international financial institution proposed by the government of China. The purpose of the multilateral development bank is to provide finance to infrastructure projects in the Asia region. Austria recently said, that it is "positive" and that it "now checks for a potential engagement".

March 27, 2015

Slovenia: Head of NLB Throws in Towel

On Friday France Ahar, President of the supervisory board of the biggest lender of Slovenia, state-controlled NLB, handed in his resignation.

April 14, 2014

Poland: Growth Forecast Raised Again

The International Monetary Fund has raised the forcast of GDP growth in Poland.

April 9, 2014

IMF Upgrades Growth for Slovenia

In its latest report the International Monetary Fund has raised its projection for GDP growth in Slovenia.

April 9, 2014

Serbia to Continue Talks with IMF

Serbia's Minister of Finance Lazar Krstic announced that an International Monetary Fund (IMF) mission will visit Serbia for talks on a new three-year arrangement shortly after a new government is formed.

March 21, 2014

Fitch: Elections Command Fiscal Consolidation and Reforms

Vucic appears to acknowledge the need for reforms in Serbia.

March 20, 2014

Serbia: Economic Activity Increases Speed

Since the beginning of 2014 economic activity has started to accelerate.

March 19, 2014

Serbia to Continue Path towards EU

Even after the elections the new government intends to continue the path towards an EU membership.

March 13, 2014