Greece needs further debt relief after third bailout deal in five years, says IMF chief

Greece needs more significant debt relief from its creditors, the head of the International Monetary Fund said, after the bankrupt country accepted tough conditions to secure its third bailout deal in five years.

Some say back to the drachma for a Greek reboot

LONDON, June 26 (Reuters) - Mainstream economic thinking may hold that Greece should stay in the euro zone, but there are those who argue that abandoning the single currency will give the cash-strapped and debt-laden country just the boost it needs.

Ukraine offers creditors 'last chance' to reach deal over debt

Ukraine has offered an updated debt restructuring proposal to creditors, its finance minister says, warning that Kiev would halt debt payments if bondholders did not make use of this last chance to clinch a deal in coming talks.

Greek leader seeks party backing as EU warns on cash deal hopes

Greek Prime Minister Alexis Tsipras called on his fractious Syriza party to rally behind the government on Tuesday as time runs critically short to unlock funding from international lenders and avert a debt default.

ECB's Nouy says banks must show they can make profits

(Reuters) - Euro zone banks that failed or barely passed this year's health checks will have to demonstrate they can make sustainable profits and may need to sell off loss-making units, the European Central Bank's top banking supervisor said.

IMF says Uganda's economic growth to accelerate despite reduced foreign aid risk

(Reuters) - Uganda's economic growth should accelerate to just above 6 percent in the next fiscal year through June 2015 despite the risk of reduced foreign aid and unrest in key export market South Sudan, the IMF said on Tuesday.

Greek central banker defends stress test results: paper

(Reuters) - An "unduly conservative" approach in stress tests on Greece's major banks would have scared off investors, the head of Greece's central bank said on Saturday, adding that he believed the results would be close to EU-wide tests due later this year.

Australia, India to push for IMF quota reforms at G20

Australia on Thursday said it will ‘actively lobby’ with the US to push through the International Monetary Fund quota reforms seeking to providing more voice to the developing countries.

Greek budget surplus for 2013 seen topping forecast: Ministry official

ATHENS: Greece's primary budget surplus for 2013 may exceed previous forecasts and top 1 billion euros ($1.37 billion), a senior finance ministry official said on Tuesday, citing latest revenue and spending data.

Fed policy under fire at Jackson Hole conference

(Reuters) - What a difference a year makes. Federal Reserve Chairman Ben Bernanke used the 2012 meeting in Jackson Hole as a platform to make his case for a third round of bond buys.

EU ministers to thrash out tax clampdown

BRUSSELS: As tens of millions languish on the dole with EU austerity blamed for deepening recession, finance ministers will switch their focus Tuesday from bailout negotiations to the pursuit of a trillion-euro annual tax-fraud bounty.

George Osborne boosts funding for lending scheme before IMF visit

George Osborne will announce an expansion of the Bank of England's £80bn funding for lending scheme (FLS) ahead of a visit to Britain by the International Monetary Fund next month, as he seeks to head off calls for a softening of government austerity plans.

IMF head Lagarde's flat searched in Bernard Tapie probe

French police have searched the Paris apartment of IMF chief Christine Lagarde, as they investigate her role in awarding financial compensation to businessman Bernard Tapie in 2008.