FINANCIAL News, Money, Banks, Economic and Financial Crisis, Feb 04, 2012

IMF in a euromess? Bretton Woods Update In an early December EU summit, European leaders agreed "the provision of additional resources for the IMF of up to €200 billion ($270 billion), in the form of bilateral loans, to ensure that the IMF has adequate resources to deal with the crisis. See all stories on this topic »

EU official: Greece needs extra $20 billion The Associated Press So far the eurozone and the International Monetary Fund have given billions in bailoutloans to the struggling country, but they haven't been asked to take losses. It is also an acknowledgment that Greece's economy is in such a dire state that the ... See all stories on this topic »

China Considers Offering Aid in Europe's Debt Crisis New York Times China's contributions could be channeled through the IMF, he said. Lendingmoney to the IMF to, in turn, relend to Europe would effectively transfer more of the risk of any European debt default to the IMF China has previously made clear that it would ... See all stories on this topic » New York Times

Key dates in Greece's debt crisis The Associated Press ATHENS, Greece (AP) — A look at key dates in Greece's financial crisis. Oct. 4, 2009 — George Papandreou's Socialists win landslide general election victory, ending five and a half years of conservative rule. He is sworn in as prime Minister two days ... See all stories on this topic »

Debt crisis: as it happened, February 3, 2012 Telegraph.co.uk Dow Jones Industrial Average closes at highest level since before 2008financial crisis. Best start to a year for the S&P 500 since 1989. Nasdaq closes at 11-month high. 20.38 Canadian Prime Minister Stephen Harper does not see much evidence his ... See all stories on this topic » Telegraph.co.uk

Poland Continues As Bright Spot in Region International Monetary Fund Poland was granted a precautionary loan under the IMF' Flexible Credit Line in 2010 but hasn't needed to draw on the funds. How did Poland manage to weather the globalcrisis with some of the highest growth rates in Europe and a stable banking system ... See all stories on this topic »

The Crisis that Won't End The Indypendent The world's advanced economies, the IMF predicts, will grow by just 1.5 percent on average in 2012-13--a rate it called "too sluggish to make a major dent in very high unemployment." The IMF's Global FinancialStability Report update was titled, ... See all stories on this topic » The Indypendent

Eurozone crisis: angry Greeks condemn EU plot to control its finances The Guardian Greece has reacted furiously to a German proposal that an EU budget commissioner with oversight of its economy be installed in Athens after mounting speculation that international lenders will have to stump up yet more money for the country. See all stories on this topic » The Guardian

Eurozone crisis live: Recession fears ease after services data The Guardian There is much talk this morning that with Greece's debt swap negotiations looking no nearer to being concluded than they were a month ago, the EU and IMF may be forced to give Greece a "bridging loan" to cover the bonds in March. See all stories on this topic » The Guardian

IMF Executive Board Concludes 2011 Article IV Consultation with Democratic ... StarAfrica.com São Tomé & Príncipe's economy is gradually recovering after a marked slowdown in 2009.The slowdown reflected a decline in foreign direct investment as a result of the global financial crisis. Gross domestic product (GDP) growth is estimated to have ... See all stories on this topic »

Creating More Debt to Solve the Crisis Business Insider US housing prices have plunged by about a third from their peak before the financial crisis, and a combination of high unemployment, tight mortgage lending conditions and more foreclosures in the pipeline are holding back a recovery. See all stories on this topic »

Escaping Europe's Catch 22 Kathimerini The situation remains very fragile and the future looks worrying, with the International Monetary Fund (IMF) recently warning of a potentially disastrous economic downturn in the eurozone. Europeans are increasingly wondering what more they can do. See all stories on this topic »

The Euro Zone and the Crisis of Sovereign Debt Center for Research on Globalization Those sovereigns on the financial periphery of the 17 nations found low interest rates too good to be true. As a result, the borrowed funds they shouldn't have borrowed to finance current debt, was thrown off by theeconomy. During the 1990s we wrote ... See all stories on this topic » Center for Research on Globalization

Sri Lanka monetary tightening welcomed by IMF - Update Lanka Business Online Feb 03, 2012 (LBO) - A hike in rates and a credit ceiling to rein in loan growth would help narrow a widening external deficit in Sri Lanka, but exchange rate flexibility should be part of the policy package, the International Monetary Fund said. See all stories on this topic »

European Central Bank averted global financial freefall World Socialist Web Site Speaking at the World Economic Forum in Davos, ECB president Mario Draghi said the injection of €489 billion into the financial system had “avoided a major, major credit crunch, a major funding crisis.” Official figures released on Friday show that the ... See all stories on this topic »

Euro-Region Confidence Increases Less Than Estimated: Economy BusinessWeek 30 (Bloomberg) -- Euro-area confidence in the economic outlook improved less than forecast in January as the region's leaders struggled to stamp out a two-year-oldfinancial crisis and revive growth. An index of executive and consumer sentiment in the... See all stories on this topic »

European Market Update: Better major European PMI Services data continues to ... Fxtraders.eu Emerging market share of global economy needs to be reflected in IMF governance structure. On Japan the JGB bonds were stable at this time but needed to watch the correlation with US and European bonds and added that the current European debtcrisis ... See all stories on this topic »

Part X - The Dominant Causes of the Credit Crisis: The Threat of China's ... Gold Seek Since 2009, China has literally opened the floodgates on bank loans to financepreferred domestic industries that gave new momentum to its already huge fixed investment program. They are expanding manufacturing, infrastructure and residential estate at ... See all stories on this topic »

Ukraine-Macroeconomic situation – December 2011 UNIAN News Agency (4) Economic growth is forecast to moderate to about 3% yoy in 2012. (5) The state budget deficit stood at about 1.7% of estimated GDP in 2011, significantly below target. However, the general public sector deficit exceeded the IMF target. See all stories on this topic »

The Reserve Bank of India The Economist It used the RBI as a piggy bank, forcing it to print money to finance its short-term needs. After 1991, when a balance-of-payments crisis led India to deregulate, the central bank rediscovered its spine. Agreements fully enacted in 1997 and 2006 ... See all stories on this topic »

Sri Lanka central bank clarifies IMF interest rates Lanka Business Online The IMF has effectively suspended its 2.6 billion US dollars bailout program for Sri Lanka after the central bank started defending the currency July 2011 and started to print money aggressively (sterilized intervention) to keep interest rates down. See all stories on this topic »

EU needs to boost bailout fund: OECD Taipei Times It includes making sure banks have enough money to weather the storm and forcing them to reduce their holdings of risky assets; making the banking system more secure by separating retail banking (the practice of lending to customers) from investment ... See all stories on this topic »

Opinion: Ukraine, IMF not ready to take steps to reach a compromise Kyiv Post Experts have predicted that the talks between Kyiv and the International Monetary Fund (IMF) on the provision of loans to Ukraine will not be successful. "The crisis has gone beyond the borders of Ukraine – to Eastern Europe... Ukraine's desire to hold ... See all stories on this topic »

For Europe: 'The Firepower Is There': An Interview The New York Review of Books The EFSF provides loans and other financial assistance only to member states of the euro area. SZ: It's here, to this office in Luxembourg, that so much hope is now directed. The question is, does Mr. Regling have the money and the credibility it takes ... See all stories on this topic »

Greece's Homelessness Spike Daily Beast The debt-strapped country is experiencing a terrible byproduct of theeconomic crisis: a growing number of people living on the streets. Until recently, homelessness was a foreign concept in Greece. It was something that Greeks discussed after visiting ... See all stories on this topic » Daily Beast

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