Word: imf
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
...There is a temptation to compare this new facility to the IMF, but that analysis would miss the move toward a financial alliance that will help serve to bring Asia together as a single, loosely formed economic entity lead by China and Japan, two of the four largest countries in the world as measured by GDP. The program makes the region financially stable, probably more stable than Europe is now with its rising unemployment, stagnant economies, and sovereign debt which faces downgrades in many cases. (See pictures of Obama's recent trip to Europe...
...first things that accompany news of dangerous flu viruses is an economic evaluation of the effects of a pandemic. In a recent article, Reuters pointed out in 2008 that the IMF said a flu pandemic could cost $3 trillion and cause a 5% drop in global GDP. In other words, it would almost certainly turn the current deep recession into a worldwide depression. (See pictures of the global financial crisis...
...like that is true, how well all the medium-sized banks are doing is hardly material. Since Geithner did say that only about $110 billion of the TARP was left in reserve, the water is inching toward the top of the levy. He did not refer to the new IMF data which came out just before his testimony. It said that worldwide banks were facing more severe write-offs. That fact was conveniently left outside the door...
...away from publicly advocating policy changes - and even criticizing some of his taskmasters. When he made an impassioned plea in January 2008, at the Davos World Economic Forum, for countries to spend their way out of this crisis, it so surprised his audience, who were more used to traditional IMF calls for austerity, that Larry Summers, now a top U.S. economic official, described it as a "historic moment." More recently, Strauss-Kahn has put public pressure on European governments to increase the size of their economic-stimulus packages, and has criticized the U.S. for not tackling more forthrightly the toxic...
Even in its revamped form, the IMF will be less of a significant player on the world stage than its founders intended at the Bretton Woods conference in 1944. Back then, the resources allocated to the IMF amounted to more than half of the world's current account payments. Today, its resources amount to about 3%, according to Buira. Still, if the G-20 intentions are put into practice and the IMF does take on a more active - and more accepted - role as a stabilizing force in the world economy, it will be much closer to the original vision...