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Macroeconomic roundup: More leaks than an old boat

Jason Walls breaks down the biggest macroeconomic stories of the week on Macroeconomic round up. With special feature audio.

NBR Radio
Fri, 08 Apr 2016

Leaked conversations from top IMF officials and the Panama Papers have dominated headlines this week.

Greek Prime Minister Alexus Tsipras and IMF managing director Christina Lagarde butted heads after Wikileaks made public a conversation between IMF officials about Greece’s debt crisis.

A transcript of the conversation shows discussions about an “event” that could prompt Greece to implement financial reforms.

This sparked speculation the IMF was planning to use the threat of a default to force Athens to act on its debt burden.

Mr Tsipras was not happy, immediately sending a letter to Ms Lagarde over the issue.

But Ms Legarde insisted it is “simply nonsense” that the IMF is pushing for a credit crises to force economic reforms in Greece.

She said she would only support a "credible" and "realistic" programme that delivers sustainable growth in Greece.   

Just days later, the International Consortium of Investigative Journalists – along with other publications – published an investigation from data revealed in the more than 11 million files leaked from Panama law firm Mossack Fonseca.

Some 12 current and former world leaders implicated with other people of prominence implicated including Jackie Chan and Lionel Messi.

It has so far claimed the scalp of Iceland’s prime minister, who stepped down after it was revealed he failed to disclose his family secretly held bonds worth millions in shell companies.

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NBR Radio
Fri, 08 Apr 2016
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Macroeconomic roundup: More leaks than an old boat