International development

The US Congressional Monetary Policy and Trade Subcommittee held a hearing on Thursday to evaluate lessons from the International Monetary Fund’s (IMF) bailout of Greece in 2010 and 2012.

Turkish companies' foreign direct investment (FDI) outflow has increased by 10 times over the past 15 years, according to an index released on May 17.

This year's edition of the Foreign Direct Investment Confidence Index is titled Glass half full. It finds that while business executives are increasingly worried about the negative effects of politics, they are nevertheless optimistic with regards to the global economy and the opportunities that foreign direct investments bring.

The recommendation was issued Monday as part of the IMF's annual review of Slovenia's economy and mirrors the statements of the IMF review mission at the end of March that concluded Slovenia was on the right track but needed to continue structural reforms.

The IMF has not changed its stance regarding its participation in the Greek program, an official with knowledge of talks between Greece and its creditors on the matter in Washington, Brussels and Berlin told protothema. The source said that there were signs of concession in an effort between the parties involved to reach a compromise that would solve the deadlock.

It looks like the International Monetary Fund (IMF) will take part in the financing of Greece's third bailout, Slovakia's finance minister Peter Kazimir said at the EBRD's annual meeting in Nicosia on Wednesday.

"It seems to me that yes, finally [the IMF will provide funding to Greece]. We have to congratulate Christine Lagarde that she managed to convince the IMF," he said.

Fitch Ratings said on Thursday that the preliminary agreement between Greece and its international creditors is a positive step toward unlocking funds to enable the country to meet its July debt maturities.

A deal between Greece and its international lenders for more fiscal reforms settles one issue that has blocked the International Monetary Fund's financial participation in the bailout, but debt relief is still needed, an IMF spokesman said on Tuesday.

German Finance Minister Wolfgang Schaeuble is eyeing a compromise with the International Monetary Fund over Greek debt relief ahead of federal elections in September, Die Welt newspaper reported over the weekend.

According to the report, Schaeuble has asked ministry officials to outline a possible agreement with the Washington-based Fund on Greek debt restructuring.

Less than 24 hours after the International Monetary Fund closed its four-day meeting in Washington the president himself told Newsmax Monday night that he would soon reveal his policy toward the financial colossus.