Word: imf
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...guilt. And any large-scale move against Pakistan-based militants could bring a sharp reaction on the streets. Zardari's government is in a particularly precarious position now that it has been forced to seek an International Monetary Fund bailout to avoid bankruptcy - the conditions attached to the IMF loan will force the government to rein in public spending, intensifying the hardships being suffered by much of the population and raising the likelihood of social instability...
...years - and British retailers have enjoyed some very fat years. In June, government figures showed that free-spending British families had racked up debts equivalent to 173% of their incomes, by far the highest ratio of debt to income among G7 nations. That's one reason why the IMF has predicted a sharper contraction in Britain than in other advanced economies...
...emotional impact on this nation of 49 million people. South Koreans remain scarred by the previous crisis in 1997, with memories of the bankruptcies, unemployment and uncertainty about the future still fresh and painful. In a country where economic success has become an integral part of national identity, the IMF bailout was seen as an embarrassment. Today's financial chaos seems like a return to those tumultuous days. South Korea has been among the Asian countries hardest hit by the global meltdown; its currency, the won, has fallen to levels not seen since the days of the last crisis. Even...
...calls for a "refoundation of modern capitalism." Also waning is the general enthusiasm unleashed by British Prime Minister Gordon Brown's appeal to establish a "new Bretton Woods [by] building a new international financial architecture" - a revision of the original 1944 accords that envisioned turning the International Monetary Fund (IMF) into a global regulator of markets unified under common rules...
...seem resigned to meeting Saturday in Washington to compare notes, set another meeting after Obama takes power and then see what future international accords, if any, are feasible. "Lots of people are talking about a 'Bretton Woods 2,' but we won't be concluding a new international treaty," warned IMF chairman Dominique Strauss-Kahn. "Things aren't going to change over night...