International Monetary Fund Managing Director Christine Lagarde will accomplish another first, as she takes over the helm of the European Central Bank. (AFP/Mohd RASFAN) The former lawyer was the first woman to serve as finance minister from any Group of Seven nation and then the first to lead the International Monetary Fund. The silver-haired Lagarde, 63, took the helm in 2011 in the aftermath of the global financial crisis, and is credited with steering the Washington-based IMF through turbulent economic waters, including handling of the Greek economic collapse. Her second five-year term as managing director of the global crisis lender ends in two years, which makes her the second leader of a global financial institution to leave early to move to another position, following Jim Yong Kim's decision early this year to step down as president of the World Bank. Factfile on the European Central Bank and how it functions. (AFP/Sophie RAMIS) But as she prepares for an eight-year … [Read more...] about IMF”s Lagarde nominated to lead European Central Bank
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They also urged countries to take steps to shore up growth. The global expansion, now seen at its most sluggish pace in three years, is likely to firm up next year, but central banks and fiscal authorities have limited policy options to drive a rebound, officials said in the joint communique of the International Monetary Fund’s steering committee. "While we expect to see a pickup (in growth) next year, trade tensions, geopolitical risks, political instability are among the challenges," Lesetja Kganyago, the committee’s chairman and the South African Reserve Bank’s governor, said at a press conference after the panel adjourned its semi-annual meeting. "We agreed we need to act promptly to protect the expansion." "Fiscal policy for example should remain flexible and growth-friendly, rebuild buffers, and strike the right chord between debt sustainability and supporting demand," Kganyago said, capping the spring meetings of the IMF and World Bank in Washington. The sober … [Read more...] about Trade rows cloud global economy as officials fret over slowdown
The Hanoitimes - Recently, Kazakhstan has been going through major political changes, on this occasion, Kazakhstan Ambassador to Vietnam Beketzhan Zhumakhanov shared with Hanoitimes his view on the matter and the cooperation prospects with Vietnam in the future. Kazakhstan – Vietnam ties developing in all spheres: Ambassador Cooperation between Hanoi and Kazakhstan capital of Astana promoted Hanoi has vast potential to become a modernized city: Kazakhstan Ambassador Strengthening Vietnam-Kazakhstan bilateral trade relationship Kazakhstan Ambassador to Vietnam Beketzhan Zhumakhanov. Photo courtesy: Kazakhstan embassy in Hanoi. Kazakhstan's President Nursultan Nazarbayev has resigned after three decades in power, while the capital city's name has also been changed from Astana to Nur-Sultan. What is your view of these significant changes, and how do they impact Kazakhstan's diplomatic policies in the future, especially with Vietnam? On March 19, … [Read more...] about Large room remains for Kazakhstan-Vietnam trade and economic cooperation: Amb.
Vietnam, Japan look to foster trade cooperation A workshop was held in Tokyo on October 22 to discuss measures to promote economic and trade cooperation between Vietnam and Japan. Held by the Department of Trade Promotion (DTP) under the Ministry of Industry and Trade and the Japan-ASEAN centre, the event attracted representatives from more than 100 Japanese and 25 Vietnamese enterprises operating in handicrafts, mechanics, plastic, home furniture and gifts. Speaking at the workshop, Doan Thi Thu Thuy, Deputy General Director of the DTP said Vietnamese goods are present in most markets around the world, and exports are shifting from raw materials to products with higher value such as electronics and smart phones. Notably, Vietnam's agriculture has witnessed a long period of stable growth with an average expansion of 4.4 percent in the last decade, with the export value of Vietnamese fruits surpassing those of rice and crude oil. Assessing Vietnam’s advantages, … [Read more...] about BUSINESS NEWS IN BRIEF 26/10
(VEN) - This year, Vietnam and France mark the 45th anniversary of establishing diplomatic relations and the 5th year of strategic partnership. During more than four decades, the two countries have recorded impressive achievements on bilateral relations. Bertrand Lortholary, French Ambassador to Vietnam On these meaningful special occasions, French Ambassador to Vietnam Bertrand Lortholary spoke to Vietnam Economic News’ My Phung more about prosperity and bright future of growing multifaceted cooperation between the two countries. What are your assessments of bilateral cooperation achievements after 45 years of bilateral diplomatic relation establishment and five years of strategic partnership? Our two countries have achieved an exceptional level of political relations, based on a unique and shared history, as illustrated by numerous historical landmarks such as President Mitterrand’s visit to Vietnam in 1993 or the Francophonie Summit in Hanoi in … [Read more...] about Vietnam, France tighten strategic partnership