Greece is likely to default over the next three years because budget-cutting won’t be enough to reduce the nation’s debt burden, Pacific Investment Management Co. Chief Executive Officer Mohamed A. El-Erian said.
The Federal Reserve will cut its growth forecasts and Europe’s economic bailout is failing, said Mohamed A. El-Erian , chief executive at Pacific Investment Management Co., which runs the world’s biggest bond fund .
U.S. economic data are “alarming,” signaling the recovery is losing momentum, Mohamed A. El-Erian , Pacific Investment Management Co.’s chief executive officer, wrote in an opinion piece in the Washington Post.
Many topics are being teed up for next month’s annual meetings of the International Monetary Fund and World Bank in Washington, a gathering that will draw about 190 country representatives. There is a substantial risk of disappointment, one that would be detrimental to the welfare of billions around the world over time.
Ireland risks a “major bank run” unless European officials act quickly to calm the financial turmoil in the nation, Pacific Investment Management Co. Co- Chief Investment Officer Mohamed A. El-Erian said.
Pacific Investment Management Co. is slowly shifting investments from developed nations into emerging markets, Folha de S.Paulo reported, citing an interview with the company’s Chief Executive Officer Mohamed A. El-Erian .