Word: imf
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...dump their memberships on an Internet site that tracks their value, sending prices plummeting. The country, he became convinced, was about to suffer a financial crisis even worse than the great conflagration that engulfed Asia in 1997, when a near bankrupt South Korea turned to the International Monetary Fund (IMF) for an emergency bailout. Fearing his investment would completely evaporate, he sold the membership in October for $190,000. In 1997, says Kim, "the crisis involved only a few countries. Now it has come from the strongest country in the world. I think the crisis will last a few more...
...banking problems caused by the sub-prime mess, but as the global economy slows and credit dries up, there's plenty to cry about. Many of the region's capitals borrowed heavily to fuel the boom, and those bills are coming due. On Oct. 26, the International Monetary Fund (IMF) announced a $16.5 billion bailout for Ukraine, to prevent a run on its banks and shore up its currency. Three days later, the IMF agreed with the World Bank and the European Union on a $25 billion rescue package to restore confidence in Hungary, which had seen its currency plunge...
Beyond seeking short-term bailouts, governments need to find ways to pay off their foreign debt - by increasing exports, reducing imports, or both. They also need to cut spending drastically: Hungary is looking at up to $1.4 billion in cuts in order to qualify for the IMF bailout...
...rates, speedy development, and a strong and diversified financial services industry put miniscule Iceland on the economic map. But it wouldn’t last forever. In the past month, all three major Icelandic banks have been effectively nationalized, the stock market has crashed, and the International Monetary Fund (IMF) has been called in to calm international investors and prevent the country’s bankruptcy. As the global financial crisis claims its first sovereign victim, it is important to understand that every party involved would have benefited from more coordinated international regulation. The crisis affecting Iceland has its roots...
...French reaction to Strauss-Kahn's IMF trouble has generally called it a reflection of notorious puritanical American social obsessions that extend into the private affairs of public figures. Perhaps, but the so-called "people-ization" of politics in France--and accompanying media willingness to offer up formerly off-limits details of politicians' lives-considerably raises the possibility of sex and dalliances becoming game-changing concerns in future French elections. However, throwing that first stone may be perilous, "because this kind of thing isn't reserved to Strauss-Kahn, or even the left, since we know many conservatives go astray...