Word: imf
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Dates: during 2000-2009
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...Western European countries dedicate maximum available effort and resources to support Eastern nations, there will still be a shortage of funds and instability will endure. Both Eastern and Western European countries should appeal to outside sources of aid and attempt to garner increased assistance from institutions such as the IMF. Only with a combined effort does the European Union have the credible means to pull through the economic crisis...
...nations such as Ireland and Ukraine, need to stop changing hands at distressed levels. If the bets on these nations being able to shoulder that own national financial obligations improve, it is a sign that global credit is becoming available, at least at the sovereign level, and that the IMF has been able to get commitments from the "richer" nations to provide credit to those that are in trouble...
...president's team of financial experts has predicted that the economy will grow by 3.2% next year, 4% in 2010, and 4.6% in 2012. It would be hard to find a well-regarded forecast which is that optimistic. The IMF has a much darker view of the pace of economic recovery. Even the organization that produces the Blue Chip Economic Indicators survey, known for only talking to the most optimistic experts, has estimated economic expansion far short of those used in the Budget...
...ratings agencies begin to downgrade the debt of several Eastern European nations, the concern has emerged that Ukraine, Lithuania, and Romania may have trouble with that debt obligations. The IMF says it is not worried about defaults, but it does not hold large amounts of the notes issued by these countries to fund their budgets, which have begun to post substantial deficits...
...Even with stop-gap measures, though, recovery will be slow and painful. Governments are under pressure from the IMF or other international lenders to implement tough austerity measures deeply unpopular with voters. After the economic pain, expect another summer of political turmoil ahead...