Word: bankes
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Dates: during 2000-2009
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...filled press and opposition that want to bring him down with "trash" and "gossip." It's possible, if the investigation into the prostitution allegations came to any embarrassing conclusions, that Berlusconi might have to step down, opening the way for a caretaker government headed by someone like Bank of Italy Governor Mario Draghi or Economy Minister Giulio Tremonti. But don't count Berlusconi out yet. Perennial challengers like parliament Speaker Gianfranco Fini on the right and former Prime Minister Massimo D'Alema on the left, have largely lost credibility in the face of their opponent's political savvy...
Russia's economy - until recently one of the fastest growing in Europe - is in dire straits. In the first three months of this year, output fell by 10% compared with a year earlier. The World Bank now expects the economy to contract by around 8% for 2009 as a whole. Traditional industries such as steel are hurting badly. The decade-long consumer boom has turned into a slump as unemployment soars. The government has cash to spend after years of sensible budget policies, but the central bank will be forced to keep interest rates high as long as inflation...
...year since civil war ended in 2002. But a corrupt and inept ruling party that has neglected to spread the wealth or diversify the economy means that when the good times end, as they now have, the effects are severe. Ricardo Gazel, the World Bank's representative in Angola, says Angola's GDP is likely to fall by anything from 17% to 23% in 2009. (Read: "World Bank: Crisis Hits Developing Nations Harder...
...iron-ore mine and rebuild a railway in the eastern interior, Liberia has signed a deal with Sime Darby of Malaysia for an $800 million, 20-year concession to a 494,000-acre (200,000 hectare) combined palm-oil and rubber plantation. Earlier this year, the IMF and World Bank canceled Liberia's $4.7-billion foreign debt. "I'm not saying Liberia will be a paradise tomorrow," says Richard Tolbert, chairman of Liberia's National Investment Commission. "I am saying we can regenerate this country in 15 years...
When Ellen Johnson Sirleaf became Africa's first elected woman President in 2006, she inherited a country shattered by nearly two decades of civil war. Harvard educated, a former banker and World Bank official, and an opposition leader who was jailed in the 1990s, Johnson Sirleaf had natural allies in the West and at home won widespread support for her promise of egalitarian development. But the test for Liberia's "Iron Lady" was always going to be in the doing. She spoke to Africa bureau chief Alex Perry at Liberia's Foreign Ministry in Monrovia...