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IMF chief to face court grilling in corruption probe
IMF chief Christine Lagarde has been summoned to appear before a court investigating alleged corruption during her time as a French government minister, her lawyer said Thursday. Lagarde has been ordered to appear before the court at the end of May to answer questions over her role in a scandal…
French police raid IMF chief Lagarde’s home
French police on Wednesday carried out a raid on the Paris home of IMF chief Christine Lagarde in connection with a probe into her handling of a high-profile scandal when she was a government minister. The investigation concerns Lagarde’s 2007 decision to order a panel of judges to arbitrate in…
‘Under-represented’ women seek Davos equality
One of the most noticeable aspects of the World Economic Forum in Davos, a gathering of the world’s top CEOs, politicians and officials, is the male dominance on the various panels. Of the 2,500 movers and shakers who have descended on the picture-postcard Swiss ski resort, a mere 17 percent…
IMF chief Christine Lagarde warns U.S. of worldwide effects of fiscal cliff
International Monetary Fund chief Christine Lagarde has warned the US it has the potential to be its “own worst enemy” over the fragile economic recovery and that failure to reach a comprehensive settlement over the fiscal cliff could see growth plummet to zero. In forthright comments over the impending fiscal…
Greek journalist detained for publishing list of Swiss bank account holders
Police detain magazine editor for breaching Greece’s privacy law A Greek journalist has been arrested for publishing the names of wealthy Greek citizens with deposits totalling €2bn (£1.bn) in Swiss bank accounts. Kostas Vaxevanis, editor of the Greek magazine Hot Doc, published the so-called “Lagarde list.” It’s an electronic file…
Women could save Japan’s economy: IMF’s Lagarde
Women could rescue Japan’s chronically underperforming economy if more of them went to work, the female director of the International Monetary Fund said Saturday. Christine Lagarde said Japan’s shrinking and greying workforce, which has left the country struggling to pay welfare bills, could really benefit from an injection of female…
Departing IMF economist rips fund’s leadership
A departing senior IMF economist has excoriated the fund, alleging it failed to address Europe’s crisis and “suppressed” its challenges, according to a letter published Friday. In the letter obtained by CNN, Peter Doyle also accused Christine Lagarde, the managing director of the International Monetary Fund, of being “tainted” by…
Dollar surges and Euro sinks after U.S. jobs data announcement
The dollar surged and the euro sank again Friday after US labor data for June showed the economy was not pumping out the jobs needed to bring down the high unemployment rate. The data told investors that the United States was as stuck in low-growth mode as the rest of…
IMF supports Cameron plan to slow pace of austerity
The International Monetary Fund on Tuesday supported Britain’s decision to slow the pace of tough austerity measures to lift the country’s growth amid major risks from the eurozone debt crisis. “The slower pace of fiscal consolidation this year is appropriate,” said IMF managing director Christine Lagarde at the release of the fund’s annual country assessment for Britain. The world’s…
IMF chief says world back from financial ‘abyss’
IMF chief Christine Lagarde said Tuesday the global economy has moved back from the “abyss” but that there are still serious weakness in the world financial system. Lagarde, visiting New Delhi for a two-day trip to attend a conference and meet leaders, said the world financial situation is not as grave as at…
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