Word: imf
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...weak dollar is helping America's exports. But it is also spooking holders of U.S. debt, whose continued purchases of U.S. Treasury bills allow Washington to fund its deficit spending. Last week, the International Monetary Fund (IMF) announced that the Reserve Bank of India had bought 200 tons of IMF gold reserves, the biggest single purchase by a central bank in 30 years. That pushed the price of gold past $1,100 an ounce, the latest record breaker in a string of new highs, as the market anticipated gold buying by other central banks to hedge against a falling dollar...
...feedback loops. What is clear is that there needs to be some measure of coordination among central bankers and policymakers as they exit stimulus measures and tighten monetary policy. It is fortunate that the planet now has forums such as the G-20 and reinvigorated multilateral institutions like the IMF to help in this regard...
...Sept. 24, when Washington threatened to ban 15 senior officials from the U.S. for their failure to push through reforms after bloody post-election violence in early 2008. Even worse for a cash-strapped Kenya, the U.S. promised to scrutinize the government's requests to the International Monetary Fund (IMF) and the World Bank. This is not the close friendship that Kenya had in mind when Barack Obama, a man whose father was born in Kenya, won the U.S. presidency. Kenya declared it a national holiday when Obama's victory was announced, and his visage is ever present here...
...Bush Administration, which was critical of the government's handling of the violence. Indeed, if the travel bans are enacted, Kenya would join the company of Zimbabwe and Sudan in being countries with officials who are not allowed entry to the U.S. And the last time the IMF and World Bank suspended loans to Kenya was in the late 1990s, under Moi's dictatorial rule. All this comes at a trying time for the country. The Kenyan economy has been hobbled by the post-election violence and a punishing drought. Staff who conducted a recent census have been unpaid...
...Genome Project, nothing except the basic chronology of their situations and Yuri’s periodic involvement connects them. Volpi gives us a preview of a formidable Soviet biologist who loses her loved ones, first to the cruelty of communism and then to the charm of capitalism; a conflicted IMF negotiator who “comport[s] herself like a government bond”; and a dangerously dispassionate Hungarian computer scientist who attracts men easily and abandons them even more effortlessly. All three face the challenge of watching others be engulfed by impulsive greed, betrayed by the very emotional defenses...