FINANCIAL News, Money, Banks, Economic and Financial Crisis, Jul 07, 2012

Palestinian Authority in financial trouble, refused loan by IMF RT The Palestinian Authority may be in danger of collapse. In the midst of a financial crisisthat is threatening its ability to function, it has now been refused a $100 million bridgingloan via Israel from the IMF. See all stories on this topic » RT

Cyprus starts bailout talks with EU, IMF officials Huffington Post Finance Minister Vassos Shiarly said officials from the so-called `troika' – the European Commission, the European Central Bank, and the IMF – will meet with Cyprus government and central bank authorities, among others, during the course of the week to ... See all stories on this topic »

Israel sought $1 billion IMF loan for Palestinians Tengrinews Haaretz reported that Israel's central bank chief Stanley Fischer approached the International Monetary Fund for the money after discussing the Palestinian Authority's financial crisis with Palestinian prime minister Salam Fayyad. Sometime after the ... See all stories on this topic »

IMF sees weak U.S. growth over next two years The Hill (blog) Economic growth in the United States will remain depressed over the next two years even if Congress and the White House find a way to avoid the “fiscal cliff” of tax increases and spending cuts at the end of the year, the International Monetary Fund ... See all stories on this topic »

IMF cuts US growth forecast, warns against 'fiscal cliff' WA today It also said the economy was under threat from the pre-programmed "fiscal cliff" combination of sharp spending cuts and tax increases at the year-end, and a worsening of the eurozone crisis. The IMFestimated 2012 US economic growth at 2.0 per cent ... See all stories on this topic »

EU, IMF officials travel to Cyprus to start negotiations on EU bailout for ... Greenfield Daily Reporter NICOSIA, Cyprus — Officials from Cyprus' potential rescue creditors are on their way to the island nation to begin talks on the terms of a bailout, the country's finance ministry said Monday. ... The banks also have sizeable private loan portfolios in ... See all stories on this topic »

Proposed IMF Seat Would Combine Some Emerging Economies Bloomberg Belgium, the Netherlands and Luxembourg are considering forming a constituent group in the council of the International Monetary Fund in combination with several emerging economies, according to an e-mailed statement from the office of Belgian Finance ... See all stories on this topic »

IMF Tells PA: Loan Request Denied Arutz Sheva In a sign of how close the Palestinian Authority is to fiscal ruin, the IMF has denied a $100 million bridge loan via Israel. ... Instead, Fischer applied for the loan intending to forward the money to the PA, who would, in turn, repay the debt ... See all stories on this topic » Arutz Sheva

Palestine Suffers Major Financial Crisis Journal of Turkish Weekly Palestine faces a severe financial crisis as it has been revealed that Israel sought a $1 billion IMFbridging loan for the authority earlier this year. 'It is the worst financial crisis since its founding,' Palestine's labor minister says. The ... See all stories on this topic »

IMF Warns Against Austerity In US Federal Budget Huffington Post "The United States remains vulnerable to contagion from an intensification of the euro area debtcrisis," the report warns. As for the ... Although the IMF is not considered a left-leaning organization, its prescriptions for the U.S. economy comport ... See all stories on this topic »

Greece's new finance minister: some economic reform efforts off-track Washington Post ATHENS, Greece — Greece is falling short of some of the commitments it has made in return for billions of euros of rescue money, the country's new finance minister admitted Thursday after meeting representatives of the country's financial rescuers for ... See all stories on this topic »

EU, IMF officials en route to Cyprus for bailout talks USA TODAY Cyprus last week became the fifth country to ask its eurozone partners for financial aid to support its banks, which have suffered big losses as a result of their exposure to Greece. The banks also have sizeable private loan portfolios in crisis-hit ... See all stories on this topic » USA TODAY

IMF Sees Increasing Pressure to Relax Romanian Fiscal Policy Bloomberg Made-in-London Scandals Risk City Reputation as Money Center. Made-in-London Scandals Risk ...The IMF, which provided the loan with the European Union, said Romania's continued fiscal discipline is “essential” to contain spending pressures and meet a ... See all stories on this topic »

Lagarde Consumed by Euro Crisis Steers Tough Love at IMF San Francisco Chronicle she flew to Luxembourg to urge finance ministers of the 17 euro countries to take further steps to save their monetary union, which has already required almost 500 billion euros ($629 billion) in funds for indebted nations and their banks. With 80 ... See all stories on this topic »

Samaras Makes His Economic Pitch to Parliament Greek Reporter ATHENS – Backtracking on some of his pledges to renegotiate key terms of harsh austerity measures demanded by international lenders in return for rescue loans, Greece's new Prime Minister Antonis Samaras outlined his economic recovery plan to... See all stories on this topic » Greek Reporter

Cyprus starts bailout talks with EU, IMF officials Las Vegas Sun Tuesday, July 3, 2012 | 3:10 a.m. - Cyprus starts talks with EU, IMF officials on terms and size of bailout for its troubled banks. ... Shiarly insisted that Cyprus' economy is on a much better footing than that of many other European countries and ... See all stories on this topic »

Spain's Banking Crisis Moves Into the Courtroom New York Times Like Bankia, those banks have suffered unsustainable losses from bad loans, many of them resulting from the bursting of Spain's real estate bubble. ... But Bankia, which is expected to receive at least 19 billion euros in European bailout money, is ... See all stories on this topic » New York Times

Cyprus starts talks with EU, IMF officials on terms and size of bailout for ... Washington Post NICOSIA, Cyprus — Cyprus began talks Tuesday with the European Union and the International Monetary Fund to gauge how much bailout money it may need to prop up banks weighed down by their huge exposure to Greek debt. ... Shiarly insisted that Cyprus ... See all stories on this topic »

Greece sees 'difficult years ahead' – ECB cuts key interest rate – EU-IMF ... Kuwait Times Meanwhile, the European Central Bank cut its key interest rate by a quarter percentage point yesterday to a record low 0.75 percent to try to help ease Europe's financial crisis and boost its flagging economy. The action, which was widely ... in a ... See all stories on this topic » Kuwait Times

Egypt open to IMF deal, but terms could change: advisor to President Mursi Al-Arabiya An economic advisor to President Mohammed Mursi has confirmed to Al Arabiya that Egypt is not opposed to resuming talks with the IMF over a financing package, but that the details of the deal would be determined once the president's economic team is ... See all stories on this topic » Al-Arabiya

Irish to sell debt for 1st time in nearly 2 years Huffington Post By that time Ireland will either be selling its bonds again or, like Greece, be forced to negotiate a second EU-IMF bailout. Thursday's sale will be confined to bidding from 18 international financialhouses that are recognized by the Dublin treasury ... See all stories on this topic »

IMF poverty focus challenged Bretton Woods Update In a response to the consultation, Nicholas Adamtey of the NGO Transparency and Accountability Initiative in Ghana, argued: "the macroeconomic indicators the IMF has been focusing on are too narrow to address the cyclical economic occurrences in ... In ... See all stories on this topic »

Greece's new FinMin: some reforms off track Fox News Greece is falling short of some of the commitments it has made in return for billions of euros of rescuemoney, the country's new finance minister admitted Thursday after meeting representatives... ...Greece has had to impose harsh austerity measures ... See all stories on this topic »

IMF: US should avoid big tax increases next year; threat remains from Europe Washington Post WASHINGTON — U.S. lawmakers must work quickly to avoid sharp tax increases and spending cuts that could throw the economy into recession next year, an international lending organization said Tuesday. See all stories on this topic »

The Deepening Spanish Debt Crisis The Nation. Bankia, SA, which crumbled under the weight of bad real estate loans and was recently nationalized, holds almost 17 billion euro in state debt, or 5.5 percent of its total assets. ... she sang, gesturing with her hands as if money were flowing through ... See all stories on this topic »

Israel attempts to rescue Palestinian economy Gant Daily Palestinian Territory Linda Gradstein (The Medi – As the Palestinian economy falters, Israel recently asked the International Monetary Fund, the IMF, for a bridge loan of $100 million to help the Palestinian Authority (PA) pay June salaries. Since the ... See all stories on this topic »

Greece to Present 'Alarming' Economic Data Voice of America Government spokesman says information 'shows beyond any doubt' that austerity measures are hurting economy rather than helping it. ... Deputy Finance Minister Christos Staikouras said the Greek economy, in its fifth year of a recession, would contract ... See all stories on this topic » Voice of America

Ireland to Make Tentative Step to Access Market With Bill Auction Wall Street Journal Amid a huge banking crisis, the Irish government was forced to turn to the European Union and International Monetary Fund for EUR67.5 billion of loans when investors refused to lend it any moremoney in late 2010. But if it is to avoid a second bailout ... See all stories on this topic »

Statement by the IMF Mission to Ukraine (Text) Bloomberg Goldman, JPM Shut Money Market Funds as ECB Rates Hit Zero · Obama: Romney a ... A significant contraction in global demand, commodity price shocks, or deleveraging by European banks would pose risks to external stability given Ukraine's high external ... See all stories on this topic »

IMF approves disbursement after first review of Afghan programme Business Recorder (blog) Syrians brand world talks on crisis failure · Suu Kyi delays Myanmar .... She said the IMF program would focus on strengthening the financial sector and building economic governance, while improving the country's finances. "While progress has been made ... See all stories on this topic »

IMF to lower world growth forecast as eurozone crisis goes global Metro The eurozone crisis was blamed as the International Monetary Fund said it will lower itseconomic growth forecast. IMF head Christine Lagarde with Japanese PM Yoshihiko Noda IMF managing director Christine Lagarde is welcomed by Japanese Prime ... See all stories on this topic » Metro

A Bruised Iceland Heals Amid Europe's Malaise New York Times While much of Europe is struggling to pull itself out of the recessionary swamp, Iceland'seconomy is expected to grow, by 2.4 percent this year. ... “When we told the bank we wanted to make a new company, they said, 'Do you want to borrow money ... See all stories on this topic » New York Times

Spanish Bank Fraud Investigation Targets Ex-IMF Chief Voice of America Former IMF director Rodrigo de Rato (file photo). x. Former IMF ... Bankia is at the center of the Spanish banking crisis that eventually led Madrid to seek a $125 billion bailout for the country's banking system from neighboring countries in the 17 ... See all stories on this topic » Voice of America

Israel in Bid to Rescue Palestinian Economy The Media Line As the Palestinian economy falters, Israel recently asked the International Monetary Fund, the IMF, for a bridge loan of $100 million to help the Palestinian Authority (PA) pay June salaries. Since the PA is not a state, it cannot ... “Palestinian ... See all stories on this topic »

Statement by the IMF Mission to Austria (Text) Bloomberg China Beige Book Shows Economy Picking Up · JPMorgan ... Against the background of the ongoing financial crisis in the euro area, growth will remain modest this year and next, as a moderate pick-up in domestic consumption will partly be offset by ... See all stories on this topic »

Cyprus: Russia is more generous than the IMF RT Russia is offering Cyprus more favourable conditions than the EU and IMF as the island country seeks aid for its ailing banks says President Demetris Christofias. ... Cyprus may need a bailout equal to half of its economy – officials. Cyprus may need ... See all stories on this topic » RT

Economic gloom seen pushing ECB to cut rates CNBC.com ... (Reuters) - The European Central Bank is widely expected to cut borrowing costs to a record low on Thursday to support a deteriorating euro zone economy and complement measures agreed by government leaders last week to tackle the bloc's debt crisis ... See all stories on this topic »

Cyprus plays Russia off against the EU over economic crisis Irish Independent CYRPUS'S president played up his close ties with Russia today, saying he was hoping to secure more financial support from Moscow as well as from the European Union as he bids to keep the island economy from collapsing. ... Loans extended by the EU/IMF ... See all stories on this topic »

Statement by the IMF Mission to Luxembourg (Text) Bloomberg On June 27, 2012, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Luxembourg. Background Economic growth has slowed in 2011 amid the euro area sovereign debt crisis. Private consumption held up ... See all stories on this topic »

Israel sought $1 billion IMF loan for Palestinians | The Raw Story By Agence France-Presse ... Monetary Fund for the money after discussing the Palestinian Authority's financial crisis with Palestinian prime minister Salam Fayyad. Sometime after the IMF's annual conference in mid-April, Fischer asked the body for the loan, which Israel ... The Raw Story

At the helm as storms buffet all|Last Word|chinadaily.com.cn Despite its much-criticized response to the 1997 Asian financial crisis, the ... downturn and restoreeconomic growth and jobs, IMF Secretary Lin Jianhai says. ... contribute money to a pool from which the IMF disburses loans - usually with strict ... europe.chinadaily.com.cn/epaper/.../content_15535654.htm

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