Word: imf
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Dates: during 2000-2009
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Perhaps the most important part of any analysis of Citi's future is that it is not out of the "toxic paper" woods, as much as Mr. Vikram Pandit, the company's CEO would have people think. According to Bloomberg, the IMF predicts that losses from U.S. loans and securitized assets will reach $2.2 billion. Only about half of that amount has been written off on bank balance sheets, and over the 60 days since the agency put out the figure, it has not been revised. (See pictures of the Top 10 scared traders...
...IMF number right? Probably not. When looking at a market as large as mortgage-backed securities, once the magnitude becomes too great, it is impossible to be precise to the last dime. But, the figure is almost certainly within a narrow range of the actual problem big banks still face. (See pictures of TIME's Wall Street covers...
...already suffering from hyperinflation and political polarization, all but collapsed as a result of the tariff war, leading to the meteoric rise of the National Socialist Workers’ Party in the parliamentary elections of 1932. Today, Hungary and Ukraine are in danger of defaulting on their already-generous IMF loan packages, while South Korea, Taiwan, and Japan fear for the long-term health of their economies. If America slides into protectionism, the relative geopolitical stability of the post-Cold War era may come into question...
...infighting led the finance minister to resign last month, complaining that he had become "a hostage to politics." The lack of unity on the budget also led the International Monetary Fund (IMF) to delay disbursement of the second installment of a $16.4 billion loan, sorely needed to shore up banks and the wobbling currency...
...they seem. Banking analysts suggest that talk of a sovereign default is overblown, and say not all banks are struggling to pay out. Even more promisingly, Yushchenko and Tymoshenko announced a truce at the end of last week and sent a revised anti-crisis plan to the IMF in the hope of securing further funds...