Tag Archives | International Monetary Fund

Europe’s leaders are playing with fire if they follow the Latvian example | Mark Weisbrot

In recent months some advocates of Europe’s austerity policies have been touting Latvia as a success story that shows how “internal devaluation” can work. This was the theme of a book published earlier this year by the Peterson Institute for International Economics, one of Washington’s most influential think tanks. The book was co-authored by the […]

Russia Pledges $10 Billion in Eurozone Aid

Russia says it is ready to commit more than $10 billion to the International Monetary Fund to help support the struggling eurozone economy. President Dmitry Medvedev made the pledge Thursday in Brussels during the biannual EU-Russia summit. “We will abide by all the commitments being the participant of the International Monetary Fund, and we are […]

Fed may give loans to IMF to bail out euro zone central banks: paper

December 5, 2011 by legitgov ShareThis Fed may give loans to IMF to bail out euro zone central banks: paper 04 Dec 2011 The Federal Reserve, along with the 17 euro zone national central banks, may help provide the International Monetary Fund with funds that could be used to aid debt-ridden states, a German newspaper […]

The IMF must heed G20 decisions | Kevin Gallagher

The G20 meeting in Cannes earlier this month was derailed by the pressing eurozone crisis. Actors were disappointed if they were looking for concrete action on global imbalances and the food crisis, let alone the new global monetary system that French President Nicolas Sarkozy boasted would be the goal of the summit when he first […]

Eurozone Economy Nearly Static in Third Quarter

The eurozone economy barely advanced in the July-to-September period, weighted down by the financial woes in debt-ridden Greece and Italy. The European Union said Tuesday that the economy in the 17-nation bloc that uses the euro currency expanded just two-tenths of one percent in the third quarter, largely supported by bigger growth in the continent’s […]

Berlusconi Resigns, Ending Scandal-Plagued Era

Italian Prime Minister Silvio Berlusconi has resigned, ending a 17-year political era marked by allegations of corruption and sex scandals, and criticism over his failure to control the country’s massive debt.    Mr. Berlusconi formally submitted his resignation to Italian President Giorgio Napolitano late Saturday after announcing that he was stepping down at a cabinet […]

Europe Lowers Growth Forecast for 2012

Europe got more bad news on Thursday, as the European Union’s executive arm sharply downgraded growth forecasts for the region. This has major implications for a continent buffeted by the financial and political crises in Italy and Greece. The new figures predict economic growth across the European Union of only 0.6 percent next year – […]

Obama Says Progress Made in Stabilizing World Economy

U.S. President Barack Obama says the world’s leaders have “made important progress” in stablizing the global economy and that he is confident European leaders will be able to resolve the continent’s debt crisis. Obama told reporters Friday at the end of the Group of 20 summit in Cannes, France, that “more hard work” remains to […]

US to Play ‘Very Major Role’ In Helping Europe: Geithner

October 14, 2011 by legitgov ShareThis Heads up! US to Play ‘Very Major Role’ In Helping Europe: Geithner 14 Oct 2011 The U.S. plans on being an active partner as efforts intensify to get Europe get back on its feet financially, Treasury Secretary Timothy Geithner told CNBC Friday. With global leaders preparing for next month’s […]

Australia: a friend to two giants | Malcolm Turnbull

The rise of China is a massive realignment of economic and, in due course, political and strategic power at a speed and on a scale the world has not seen before. According to the International Monetary Fund’s forecasts it will overtake the United States as the world’s largest economy in 2016. Others argue it has […]