Today: FINANCIAL News, Money, Banks, Economic and Financial Crisis, Apr 03, 2012

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Apr 3, 2012

FINANCIAL News, Money, Banks, Economic and Financial Crisis, Apr 03, 2012



Christine Lagarde's speech: in full
Telegraph.co.uk
We must ensure financial calm. And here, I welcome the decision by the Europeans to strengthen their firewall, which should help stop contagion. And this should support a stronger global firewall, achieved in part by increasing the IMF'sresources.
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IMF chief Christine Lagarde urges US to give more cash to fight European debt ...
Telegraph.co.uk
Speaking in the US capital, Lagarde said the 187-nation International Monetary Fund (IMF) needed more firepower to tackle financial crises raging around the globe, arguing it was in the US interest to pitch in and help Europe.
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Telegraph.co.uk
IMF: Global Economy Improves, but Remains Fragile
Voice of America
The Managing Director of the IMF says the economic crisis was eased by bold actions by major central banks that calmed financial markets. She said the world needs a stronger and safer financial system that puts societal interest ahead of financial gain ...
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IMF's Lagarde: 'Recovery is still very fragile'
Local 10
Lagarde acknowledged that the global economy has improved in recent months, pointing to signs of stabilization in Europe, as well as strongereconomic growth and hiring in the United States. But she cautioned that thefinancial system in Europe is ...
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An African President of the World Bank Is Not the Solution, When the Bank ...
AllAfrica.com
Furthermore, the IMF is an active participant and aggravator of financial crises, and Africa, according to its current rising narrative, would do well at this stage to distance itself from this falling house of sovereign debt contagion.
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Christine Lagarde: Emerging Market Nations Will Get More Power in the IMF
Knowledge@Wharton
Lagarde's comments came in an exclusive interview with Knowledge@Wharton and media partner ParisTech Review late last week, as BRIC countries demanded more voting power in return for the larger financial contributions being requested by the IMF.
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Knowledge@Wharton
Euro zone firewall boost puts pressure on economic powerhouses
Business Spectator
But at a fraught meeting of finance ministers and central bank chiefs in Mexico City in February, the leading and emerging economies in the group of 20 (G20), said they would only boost IMF funding if the euro zone first put its hand in its pocket.
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Europe s firewall boost throws spotlight on IMF
The News International
But at a fraught meeting of finance ministers and central bank chiefs in Mexico City in February, the leading and emerging economies in the group of 20 (G20), said they would only boost IMF funding if the Eurozone first put its hand in its pocket.
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The tussle for the presidency highlights the complexities facing global ...
Financial Times
Wall of money: the World Bank's Washington headquarters. Set up after the second world war to help rebuild Europe and Japan, its reach extended to include a big say over emerging borrowers'economic policies Conventional wisdom about the World Bank ...
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Financial Times
Eman El-Shenawi: Building 'superpower' BRICS with a global bank?
Al-Arabiya
“The IMF and the World Bank [have seen] their influence reduced significantly over the past decade,” Xiang Songzuo from Bank of China said at the BRICS summit. “Particularly the previous financial crisis and current financial crisismade me believe ...
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Egypt's Looming Economic Shock Doctrine
The Nation.
So it is indirect conditionality because they won't give you the money unless they approve of the plan." The Ministry of Finance, the Ministry of International Cooperation and the Central Bank drafted a reform program to present to theIMF, ...
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IMF predicts dire consequences if deficit reduction fails
Minivan News
Dunn recommended against printing money or obtaining loans from other countries, given the current economic frailty of the Maldives. His suggestions for expenditure reduction included revising civil servants' salaries and allowances, increasing the ...
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Minivan News
So rich - and so poor
Asia Times Online
A chart on the website of the Department of Finance Canada titled "Where Your Tax Dollar Goes" showed interest payments to be 15% of the budget - more than healthcare, social security, and other transfer payments combined. The page was dated 2006 and ...
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Sri Lanka IMF bailout loan resumed; US$426mn loaned for reserves
Lanka Business Online
A sudden spike state credit in an environment of strong private sector credit growth cause the exchange rate to come under pressure in mid 2011 and theIMF suspended its program asking the Central Bank not to defend its peg. "While the strong economic ...
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Oh Canada! Imposing Economic Austerity on the World's Most Resource-rich Country
The Market Oracle
A key objective of the Committee was to maintain “monetary and financialstability.” To achieve that goal, the Committee discouraged borrowing from a nation's own central bank interest-free, and encouraged borrowing instead from private creditors, ...
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As currency floats, Myanmar's banks rise again
Tuoitrenews
It could also build confidence in a banking system tainted bymoney-laundering allegations and cut off from the global financialsystem. Anticipating the changes, Myanmar's banks have quietly begun an overhaul. Some are sending staff for training in ...
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Tuoitrenews
IMF and Europe
Financial Times
Domestic political constraints make it unlikely that Germany and other surplus countries will commit more money to the rescue fund. Meanwhile, were a full-blown crisis to expose the weakness of the current firewall, the globaleconomy would suffer.
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Why Swan needs a budget surplus
The Australian
Having delivered stimulus to sustain the economy in 2008-09, budgetary support needs to be withdrawn as the economy recovers. A budget surplus provides the Reserve Bank with greater latitude to cut interest rates should global conditions weaken.
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Debit and credit accounts needed
Irish Independent
At present, relations are at best uneasy, and all the more so because ourbanks have never confessed adequately to their major part in bringing about the economic crisis -- or behaved as if they were subject to the taxpayers -- whose money has kept ...
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MORE ON THE STORY
RT
New BRIC Central Bank News Being Sensored In Western Media. April 03, 2012, 16:06 quote The new BRIC central bank was hardly mentioned in western media despite it being the most significantfinancial event in a century. The combined wealth of Russia ...
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RT
Asia Midday Highlights
FXMarketAlerts.com
- China World Bank President Robert Zoellick backing the creation. He mentioned his view on China likely to utilize this channel to internationalize the yuan, while others need the money. He warned however, that the latest BRICS proposal was a ...
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Gold struggling to gain momentum but 'still respecting long term uptrend'
Business Intelligence Middle East (press release)
European leaders were told at February's G20 meeting that they needed to do more to solve the Eurozone crisis before they asked for extra money from the International Monetary Fund. "Europe has done its part," said French finance minister Francois ...
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Business Intelligence Middle East (press release)
Europe Eyes Bigger IMF War Chest as Firewall Tops $1 Tril
Euro-area finance ministers decided yesterday that 500 billion euros ($667 ...of 20 economies to bulk up the International Monetary Fund's anti- crisis ...
www.businessweek.com/.../europe-eyes-bigger-imf-war-chest-...
European Central Bank urges more resources for IMF - Telegraph
Eurozone finance ministers raised the combined lending capacity of their two bailout ... eurozone firewall a pre-condition for committing more money to theIMF. ... told a news conference after a meeting of European Union financeministers and ... "It is a recognition that, in general, for the world economy, theIMF needs to ...
www.telegraph.co.uk/.../European-Central-Bank-urges-more-r...
What is the role of the IMF in the post-financial crisis world ...
The International Monetary Fund, a quasi-bank without the full authority, has a cash facility of $500 ... What is the role of the IMF in the post-financial crisisworld ?
www.catch21.co.uk/.../the-role-of-the-imf-in-the-post-financia...
Brics nations threaten IMF funding - FT.com - Financial Times
Leaders of the world's most powerful emerging economies have threatened to... by the International Monetary Fund to fight the European sovereign debtcrisis ... war and have introduced new and perverse forms of protectionism in the world.” ... This is the first step towards an emerging market bank and comes as the five ...
www.ft.com/.../a3b88472-7982-11e1-8fad-00144feab49a.htm...

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