Word: imf
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Dates: during 2000-2009
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...diversity, dynamism and resilience that simply did not exist eight decades ago. The abandonment of the gold standard has opened space for countries to adjust their monetary and fiscal regimes without fear of deflation or devaluation. And a landscape populated by an array of multilateral institutions like the IMF, the World Bank and the WTO has nurtured habits of international economic cooperation in times of crisis, as witnessed by the recent round of consultation among the G-7 countries and the coordinated efforts of finance ministries and central banks around the world to restore confidence and liquidity in the credit...
...Brussels and before that to Paris for an emergency summit of euro-zone countries - even though he refused to adopt the euro during his 10-year tenure as Chancellor of the Exchequer. With marked success, his Treasury successor, Alistair Darling, has promoted the patented Brown rescue plan to the IMF, the G-7 and the G-20. Even U.S. Treasury Secretary Henry Paulson has recalibrated his scheme along Brownian lines...
...credit crisis has had a chilling effect on economies around the world, and the International Monetary Fund (IMF) expects global growth to drop off sharply for the rest of this year and next as a result. The situation is particularly critical in Europe, where national economies were slowing markedly even before the financial crisis exploded. Most economic statistics in the U.K. and around the Continent already look awful, but the turmoil of the last few weeks will likely make the downturn longer and more painful. "You name it, it's falling," says George Buckley, a London-based economist for Deutsche...
...rise in unemployment. The number of jobless in the E.U. dropped sharply between 2005 and 2007 and then flattened out at 25-year lows. But the latest statistics from France, Ireland, the U.K. and some other countries show that the unemployment rate is starting to pick up again. The IMF, which has slashed its growth forecast for the euro-zone countries for 2009 to a negligible 0.2%, predicts that the percentage of jobless in those 15 countries will jump above 8%. Worst hit will be Spain, where it predicts unemployment will be close to 15% next year, up from...
...asks not to be named. "Zalaegerszeg is a factory town that may soon have no factories. Many people here will have to go to Austria or the U.K. for work." But despite the mounting anxiety, few blame the global forces that have exacerbated Zalabaromfi's predicament. As the IMF offers Hungary financial and technical assistance to stem the flow of millions of dollars in foreign investment out of the country, and to help steady the nation's sinking currency, Hungarians are pointing fingers at people much closer to home. Work-council president Kiss Tóthné is frank...