International Monetary Fund

The long awaited event has happened.

Five developing countries, Brazil, Russia, India, China and South Africa, also called BRICS have challenged the IMF and World Bank.

At the annual summit at Brazil’s Fortaleza city, the BRICS countries stated they have founded a multilateral development bank.

By Marcus Bensasson and Andre Tartar

Greece’s return to bond markets after a four-year exile hasn’t convinced economists it can avoid a third bailout.

Turkish Treasury Undersecretary İbrahim Çanakçı has been appointed International Monetary Fund (IMF) Executive Director, marking the first time Turkey earning the right to be directly be represented in the main governing body of the international lender.

Marcus Bensasson, Nikos Chrysoloras & Christos Ziotis

Greece is unlikely to have to inject more money into its banks during the European bank stress tests this year, helping to boost the nation’s public finances, top executives at the Hellenic Financial Stability Fund said.

 Troika leaves after informal inspection, but Finance Ministry is making plans for the next assessment

By Sotiris Nikas

Ex-finance minister "to set up consulting firm"

BELGRADE -- Former Finance Minister Lazar Krstić will help prepare a budget review, and then set up his own consulting firm with his closest associates, reports a daily.

Inspectors from Greece's EU/IMF lenders have concluded a short, interim checkup of the country's performance under its bailout and will return for a more comprehensive audit in September, a senior Greek finance ministry official said on Wednesday.

BELGRADE - Resident Representative of the International Monetary Fund (IMF) in Serbia Daehaeng Kim welcomed the Serbian government's perseverance in carrying out the reforms and confirmed that the IMF will continue negotiations with Serbia in the fall.

Brussels hosts donor conference for Serbia and Bosnia

BELGRADE -- An international donor conference will be held in Brussels on Wednesday to raise funds for the reconstruction of areas affected by floods in Serbia and Bosnia.

The former minister of finance stays in Serbia, but will go into business for himself Krstić to found a consulting agency

BELGRADE: The former minister of finance Lazar Krstić will be assisting in preparations for balancing the budget, but will found his own consulting agency together with his closest associates after that, Blic sources claim