Obama budget requests U.S. funding shift for IMF
WASHINGTON - President Barack Obama asked Congress again on Wednesday to permanently boost U.S. funding to the International Monetary Fund, a measure that would increase the clout of China and other big emerging economies at the institution.
Found 1 month ago on channel Reuters
IMF money for Greece contingent on debt buy back
WASHINGTON - The International Monetary Fund will not disburse Greece's next bailout tranche until the country completes a voluntary buy back of its debt, an IMF spokesman said on Thursday.
Found more than 1 month ago on channel Reuters
Will the Global Economy Tumble Off America’s Fiscal Cliff?
Forget all of the talk about the rise of China and the shift of economic power from West to East. The U.S. economy remains the largest and most important in the world, and what happens in America still determines what happens to the global economy. No wonder, then, that investors from Hong Kong to London have become fixated on the looming “fiscal cliff” facing the U.S. government. If re-elected President Barack Obama can’t reach a new deal with Republican Party Congressmen in the House of Representatives on closing the country’s trillion-dollar budget deficit, a slate of deep spending cuts and tax hikes will automatically come into effect next year that will in all likelihood derail the slow-moving U.S. recovery from the 2008 financial crisis. That would without doubt do some serious damage to growth globally. Rating agency Fitch proclaimed that “the U.S. fiscal cliff represents the single biggest near-term threat to a global economic recovery.” A U.S. plunge off the fiscal cliff ...
IMF open to negotiating terms of Greece's bailout
WASHINGTON -- The International Monetary Fund is open to adjusting the terms of a Greek bailout and will send a team to Greece next week to meet with the new government....