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  • SHANGHAI, April 18- China central bank governor Zhou Xiaochuan said Beijing would accelerate reforms to the country's currency to push for the yuan's inclusion in the International Monetary Fund's currency basket, known as Special Drawing Rights, the official Xinhua news agency reported on Saturday. Zhou made the comments during an interview with Xinhua...

  • US Treasury secretary urges Greece to reach debt deal Saturday, 18 Apr 2015 | 12:31 AM ET

    Treasury Secretary Jacob Lew is urging Greece to reach a deal with its creditors, warning that a default would "create immediate hardship for Greece" and damage the world economy. Greece is in negotiations with the International Monetary Fund and European authorities to receive the final 7.2 billion euro installment of its financial bailout.

  • The IMF's member countries agreed in 2010 to give more voting power to countries like China and India, double the Fund's resources, and reduce the dominance of Western Europe on its 24- member board. To get around the United States, the IMF's board had proposed one "interim" plan to raise the voting rights of some emerging countries under an "ad hoc" increase without...

  • WASHINGTON— Spain's Economy Minister Luis de Guindos criticized Greece's left-wing government for its "not very coherent" approach to negotiations over its finances and economy. Greece has relied on loans from European creditors and the International Monetary Fund since 2010. It is in talks over the conditions for its next loan installment, without which...

  • But China's proposal has been diplomatic coup, as Britain, France and Germany have broken with Washington and joined Asian governments in seeking membership. The U.S. also faces growing criticism over the refusal by Congress to approve reforms to the International Monetary Fund that would increase the voting power of fast-emerging economies such as China,...

  • U.S. urges Greece to strike deal with creditors Friday, 17 Apr 2015 | 4:12 PM ET

    WASHINGTON, April 17- The Obama administration on Friday urged Greece to move quickly with technical negotiations aimed at reaching agreement on bailout terms with the International Monetary Fund and European Union, saying a failure to strike a deal could hit the global economy. Treasury Secretary Jack Lew said in a statement prepared for delivery at a...

  • FRANKFURT, April 17- The European Central Bank has analysed a scenario in which Greece runs out of money and starts paying civil servants with IOUs, creating a virtual second currency within the euro bloc, people with knowledge of the exercise told Reuters. Greece is close to having to repay the International Monetary Fund about 1 billion euros in May and...

  • G20 to sidestep U.S. on IMF reforms -draft communique Friday, 17 Apr 2015 | 12:39 PM ET

    To get around the United States, the IMF's board had proposed one "interim" plan to raise the voting rights of some emerging countries under an "ad hoc" increase without touching U.S. veto power. But countries like China would only get a small bump in their shares under this option, which requires all changes to allow the United States to keep at least 15 percent of the...

  • WASHINGTON, April 17- The Greek financial crisis has helped make the mood at international financial talks in Washington this week "notably more gloomy," British finance minister George Osborne said on Friday. "It's clear now to me that a misstep or a miscalculation on either side could easily return European economies to the kind of perilous situation we saw...

  • IMF: Greek negotiations are complex   Friday, 17 Apr 2015 | 9:00 AM ET
    IMF: Greek negotiations are complex

    Poul Thomsen, director of the European department at the IMF, says that there has been no loss of patience when it comes to the Greek talks.

  • IMF: We expect to be paid on time   Friday, 17 Apr 2015 | 9:00 AM ET
    IMF: We expect to be paid on time

    Poul Thomsen, director of the European department at the IMF, says they have received no request from Greece to delay the IMF loan repayment.

  • It's all about inflation Friday Friday, 17 Apr 2015 | 5:59 AM ET
    Traders work on the floor of the New York Stock Exchange.

    Friday's March consumer price index is more important since it is one piece of data traders say could change their assumptions on Fed policy.

  • MADRID— Tax agents spent a second day Friday searching the office of former International Monetary Fund chief Rodrigo Rato after he was briefly detained as part of a probe into alleged fraud and money laundering. Rato was Spain's economy minister and a deputy prime minister under conservative ex-Prime Minister Jose Maria Aznar between 1996 and 2004. He...

  • Here's the significance of China-led AIIB   Thursday, 16 Apr 2015 | 10:38 PM ET
    Here's the significance of China-led AIIB

    Eswar Prasad, senior professor of Trade Policy at Cornell University, says the Asian Infrastructure Investment Bank poses a "significant challenge" to the existing structure of global institutions.

  • To make it to SDR, yuan must be freely usable: Pro   Thursday, 16 Apr 2015 | 9:05 PM ET
    To make it to SDR, yuan must be freely usable: Pro

    Richard Harris, chief executive of Port Shelter Investment Management, says difficulties in the convertibility of the renminbi remain as obstacles to the currency's inclusion in the SDR currency basket.

  • Watch out for this topic at IMF meeting   Thursday, 16 Apr 2015 | 8:15 PM ET
    Watch out for this topic at IMF meeting

    Jim Rickards, chief global strategist at West Shore Funds, explains why the topic about including the yuan in SDR's basket could steal the limelight at upcoming IMF and World Bank meetings.

  • DIARY- Top Economic Events to April 29 Thursday, 16 Apr 2015 | 8:01 PM ET

    WASHINGTON- 2015 Spring Meetings of the World Bank Group and the International Monetary Fund. WASHINGTON- Institute for International Finance hosts International Capital Markets and Emerging Markets Roundtable. NEW YORK- Reserve Bank of Australia Governor Glenn Stevens speaks at an American Australian Association luncheon hosted by Goldman Sachs- 1630...

  • MADRID, April 16- The home and office of former International Monetary Fund chief Rodrigo Rato were searched on Thursday as part of a tax and money laundering investigation into his personal wealth, Spanish judicial officials said. Rato was quoted by news agency EFE as saying he had "confidence in Spain's judicial system" and had been helpful to officials who...

  • IMF, World Bank 2015 spring meetings: What to expect

    Bill Adams, senior international economist at PNC, outlines his expectations for the International Monetary Fund and World Bank meetings taking place this weekend in Washington.

  • MADRID, April 16- The home and office of former International Monetary Fund chief Rodrigo Rato were searched on Thursday as part of a tax and money laundering investigation into his personal wealth, Spanish judicial officials said, as cameras showed him being escorted from his home by police. Spain's state prosecutor had requested a search of Rato's home as...