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CNBC's correspondent, Stephane Pedrazzi, reports from Paris where IMF chief Christine Lagarde is being questioned for a role in a dispute when she was French finance minister in 2007.
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There is unlikely to be a double-dip recession, while the fact that stimulus spending was helpful in containing the crisis is undisputable, Dominique Strauss-Kahn, managing director of the International Monetary Fund (IMF), told CNBC Monday.
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The world economy is recovering moderately but still faces challenges such as the need for medium-term fiscal consolidation, the IMF's First Managing Director, John Lipsky, said on Sunday.
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The world’s most developed economies, which have been racking up spending since the mid-1960s, face record levels of debt as a result of the 2008-9 financial crisis and have little room for maneuver, the International Monetary Fund warned on Wednesday. The New York Times reports.
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While immediate market tensions have mostly passed, the sovereign debt crisis continues to be a challenge in Europe and fiscal consolidation is an important “long-term project,” said Axel Weber, president of the Deutsche Bundesbank.
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It’s a week of dueling predictions for the Chinese economy—in a debate that pits the International Monetary Fund against one of the most successful investors in the hedge fund sector.
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Friday at noon, New York time, 91 banks in Europe will reveal how strong they would be if the region went back into recession over the next two years and the sovereign debt they hold plunged in value.
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Whereas critics of the US bank stress tests complained that there were too many details, the concern about European tests is that there are too few.
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A third straight day of gains had the bulls claiming victory over the bears. But how long will it last?
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Japan is vulnerable to a sovereign debt crisis in five to 10 years from now, warned Kenneth Rogoff, former chief economist the International Monetary Fund.
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Moody’s Investors Service may cut Spain’s credit rating as much as two levels. The rating agency is currently reviewing Spain’s AAA foreign and local currency sovereign bond ratings. Spain continues to face fiscal challenges and falling growth expectations.
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Investors everywhere were stashing whatever money they had into anything that might provide safety. Reflecting on those terrifying days of yore, you might understand why so much buying pressure amid market panic may have driven yields so low, but what about now?
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Stocks are dropping over concerns over Spanish bank funding, lower China growth, IMF warning on Austria, SF Fed warning on US states, and strikes in Europe.
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The US needs to stop being the world spender of first and last resort, former IMF chief economist Raghuram G. Rajan told CNBC Monday.
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As reports resurface that Greece is considering selling leases to some of its islands to pay down debt, fears are growing that the euro zone member could restructure its debt over the summer months. But analysts disagree, saying this would be bad for German banks.
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The argument is widely heard in Europe and elsewhere: If only Greece and other struggling euro-zone countries could let their currency depreciate, as other collapsing economies have done when hit by debt crises – in Asia and Latin America, for example.
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Another solid close for European bourses today, with many markets closing at or near session highs.
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The argument is widely heard in Europe and elsewhere: If only Greece and other struggling euro-zone countries could let their currency depreciate, as other collapsing economies have done when hit by debt crises – in Asia and Latin America, for example.
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Coordinated liquidity measures and quantitative easing may have to return and banks could take another hit to their balance sheet because of the sovereign debt problems in the euro zone, according to Ashok Shah, the CIO at London & Capital.
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Are we to believe that Obama will rescind the excess appropriations? Hardly. And since pay-go is dead, most of this new spending will not be offset. It will add to deficits and debt. It’s the Greek disease. The welfare state run amok. Right here at home.