Europe’s leaders will do just about anything to prevent further escalation of the current debt crisis, the International Monetary Fund has said.
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The IMF have told Australian leaders they should be establishing a sovereign wealth fund to ensure the economy remains strong after the current resources boom recedes. Both the Prime Minister and the Treasurer have rejected the call.
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The World Bank and IMF held their annual meeting in Washington last week. Jennifer Blake explains why global finance chiefs fear economic recovery is on a knife’s edge in the face of rising food prices, turmoil in the Middle East and big deficits in developed countries.
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Economists that have long criticised China’s fixed currency for offering the export-oriented economy an unfair trade advantage are now saying a floating Chinese currency could hurt the US economy. Justin Yifu Lin, Chinese national and chief economist at the World Bank, has told students that if China were to revalue its currency at its true [...]
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The International Monetary Fund managing director Dominique Strauss-Kahn says the organisation needs to update its mandate and will seek new authority to supervise the global financial system. Following the IMF’s role in the recent global financial crisis, Strauss-Kahn says it’s only natural for the organisation to transform “into an institution even better equipped to meet [...]
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The International Monetary Fund has announced a bailout package worth $92.5 million for the Maldives, designed to assist the island nation’s recovery from the global economic downturn. The Maldives has suffered from a fall in tourism, lower fish exports and a drop in capital inflows. The package “aims to rebuild international reserves to prudent levels,” [...]
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Managing director and CEO of government credit agency, the Export Finance and Insurance Corporation (EFIC), Angus Armour has been appointed as president of the Berne Union, the peak global organisation for export credit. It is the first time an Australian has held the position since 1975, when another EFIC director held the post. “This decision [...]
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Figures from the US Commerce Department have revealed a decline in consumption after the ‘cash for clunkers’ program, a government incentive designed to boost auto sales, ended in August. Data from September showed a 0.5 percent drop from the previous month, though August was up 1.4 percent on the month before. While the slowing unemployment [...]
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The International Monetary Fund (IMF) has encouraged the USA and Europe to continue with their financial stimulus measures until unemployment in under control. IMF managing director Dominique Strauss-Kahn said it might take up to 12 months for recessionary pressure to truly recede. “There are some encouraging figures, a few months ago from European countries and [...]
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The International Monetary Fund (IMF) has raised the forecast for Asia’s economic growth but says it may not be sustainable due to its continued reliance on the rest of the world, particularly consumer demand in the USA and Europe. Governments in the region have successfully stimulated their respective economies and global trade has lifted, giving [...]
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