Rand improves after IMF growth concerns

The rand returned to its strong level of R14.31/$ on Wednesday after weakening a day earlier due to a strong dollar and growth concerns about South Africa being voiced. “For the first time in a while we saw some rand weakness,” said Umkhulu Consulting’s Adam Phillips on Wednesday. “Having traded[…]

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IMF demands Greece debt relief ahead of vote

The International Monetary Fund can only participate in Greece’s bailout if its European creditors produce a clear debt sustainability, a senior official has said. The threat came on Tuesday, a day before Greece’s parliament were due to start debating on a new package of austerity measures and economic reforms to[…]

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Greece defaults on IMF payment

Greece’s last-minute overtures to international creditors for financial aid on Tuesday were not enough to save the country from becoming the first developed economy to default on a loan with the International Monetary Fund. The IMF confirmed that Greece had not made its scheduled 1.6 billion euro loan repayment to[…]

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