Bureau Chief Malaysia and Brunei, Kuala Lumpur
David's Feed
Jul 2, 2015

IMF warns of huge financial hole as Greek vote looms

ATHENS/WASHINGTON (Reuters) – The International Monetary Fund delivered a stark warning on Thursday of the huge financial hole facing Greece as angry and uncertain voters prepare for a referendum that could decide their country’s future in Europe.

Days after Greece defaulted on part of its IMF debt, the Fund, part of the lenders’ “troika” behind successive international bailouts, said Greece needed an extra 50 billion euros over the next three years, including 36 billion from its European partners, to stay afloat. It also needed significant debt relief.

Jul 2, 2015

IMF warns Greece needs debt extension, may require writedown

WASHINGTON (Reuters) – The International Monetary Fund warned on Thursday that Greece would need an extension of its European Union loans and a potentially a large debt writeoff if it grows more slowly than expected and economic reforms are not implemented.

The IMF warning in a preliminary draft of its latest debt sustainability report came as Greece readies for a Sunday referendum on an international bailout deal that Prime Minister Alexis Tsipras has urged voters to reject.

Jun 5, 2015

Big holes remain in labor market despite blowout U.S. jobs report

WASHINGTON (Reuters) – A surge in job creation and higher wages in May triggered talk the United States was finally entering a “sweet spot” that would push the Federal Reserve closer to a long-awaited rate hike.

Behind the headlines, however, data showed a troubling picture that the long-term unemployed and discouraged workers were still being left behind, a key concern that has been repeatedly highlighted by Federal Reserve Chair Janet Yellen.

Apr 19, 2015

IMF nations point to exchange rate, geopolitical risks

WASHINGTON (Reuters) – The International Monetary Fund’s member nations on Saturday warned of risks to the global economy from exchange rate shifts and geopolitical tensions as they took note of “moderate” global growth and “uneven prospects.”

While economies in developed countries have strengthened, some emerging nations are being hit by weaker commodity prices and exports, the IMF’s steering committee noted in a communique.

Apr 18, 2015

IMF nations say global growth is ‘moderate’ and ‘uneven’

WASHINGTON (Reuters) – The International Monetary Fund warned in a communique on Saturday that while economic growth in developed countries had strengthened, some emerging nations were being hit by weaker commodity prices and exports.

With the United States poised to hike interest rates, the IMF member nations said it was essential that moves to “policy normalization” were accompanied by effective communication of changes to reduce risks of spillovers.

Apr 18, 2015

Exclusive – IMF nations say global growth is ‘moderate’ and ‘uneven’

WASHINGTON (Reuters) – The International Monetary Fund warned in a communique on Saturday that while economic growth in developed countries had strengthened, some emerging nations were being hit by weaker commodity prices and exports.

With the United States poised to hike interest rates, the IMF member nations said it was essential that moves to “policy normalization” were accompanied by effective communication of changes to reduce risks of spillovers.

Jan 9, 2015

U.S. seems stuck with slow wage growth despite strong jobs data

WASHINGTON, Jan 9 (Reuters) – The U.S. economy added the
largest number of jobs in 15 years in 2014, yet a surprising
five-cent drop in average hourly earnings in December raises
questions over whether a tightening labor market will ever
translate into more money in the pockets of ordinary Americans.

In theory, a tightening market should lead firms to hike
wages to hold on to or attract workers.

Apr 29, 2014

South Korean president apologises to ferry victims’ families

SEOUL, April 29 (Reuters) – President Park Geun-hye
apologised on Tuesday to families of the 302 victims in last
month’s ferry capsize and pledged to revamp safety regulations,
as an investigation proceeded into South Korea’s worst maritime
accident in 21 years.

Park and her government have been criticised over the
authorities’ slow response to the sinking of the ferry on April
16, and for lax regulation of the shipping industry.

Apr 24, 2014

Insight – From God.com to photography, Korea ferry founder has diverse interests

SEOUL (Reuters) – The head of the South Korean family that operated the ferry which sank last week is a billionaire once jailed for fraud, a photographer who has held an exhibition at the Louvre under a pseudonym and the founder of a church which owns the website www.god.com.

At other times in his chequered past, Yoo Byung-un, in his 70s, has been a bankrupt and an inventor of household and health-related devices. He was investigated and cleared of complicity in the suicides of 32 members of his church in 1987.

Apr 24, 2014

From God.com to photography, Korea ferry founder has diverse interests

SEOUL, April 24 (Reuters) – The head of the South Korean
family that operated the ferry which sank last week is a
billionaire once jailed for fraud, a photographer who has held
an exhibition at the Louvre under a pseudonym and the founder of
a church which owns the website www.god.com.

At other times in his chequered past, Yoo Byung-un, in his
70s, has been a bankrupt and an inventor of household and
health-related devices. He was investigated and cleared of
complicity in the suicides of 32 members of his church in 1987.

    • About David

      "I am currently Reuters Malaysia Bureau Chief and have been here since August 2008, tracking Malaysia from the return of opposition leader Anwar Ibrahim to parliament and the government choosing a new Prime Minister Najib Razak. Prior to Malaysia, I worked as Bureau Chief in Hungary for four years in a tumultuous time that saw mass riots, a record budget deficit and shock election results. I have worked mainly on emerging market economies covering debt restructurings from countries as diverse as Argentina, Russia, Serbia and Iraq."
      Joined Reuters:
      20 odd years ago
      Languages:
      English, French
    • More from David

    • Contact David

    • Follow David