Paul Rawkins, head of emerging Europe sovereign ratings at Fitch, explains why the agency downgraded Ukraine to B- with negative outlook and says an IMF bailout would be the best outcome.» Read More
The crisis is not over as unemployment is likely to continue rising for the next 10 to 11 months, Dominique Strauss-Kahn, managing director of the IMF, told CNBC Thursday.
The International Monetary Fund and the EU have pumped billions of euros in Central and Eastern European countries, but their economies are still suffering.
The International Monetary Fund's executive board on Friday was discussing selling some of the fund's gold to provide low-interest loans to poor countries and shore up its internal finances.
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More than the 4 trillion fiscal stimulus, these loan levels are stimulating the economy and are making analysts revise their estimates for 2nd half Chinese growth. But at what cost? Like the G8, the Chinese will sort out the problems caused by this stimulus after their economy rebounds.
While the Far East of Russia, China, and others may have animosity towards the West and specifically the United States economic hegemony, they are the masters of their own universe. They can move away from the US dollar as the world's reserve currency if they take steps to move away from the export model of economic growth for their countries.
Reports that the IMF suggested that Eastern European countries should adopt the euro as soon as possible to solve their current account deficit and exchange rate problems have been dismissed by some experts.
The credit crisis has had a near-catastrophic effect on many of the emerging economies in Eastern Europe. The International Monetary Fund shelled out tens of billions in emergency loans for the region, while governments have collapsed and angry protesters took to the streets in some countries.
Toxic debts racked up by banks and insurers could spiral to $4 trillion, new forecasts from the International Monetary Fund are set to suggest, British daily The Times reported on its website without citing sources.
The US dollar will remain the world's reserve currency for a while and it is probable that the world economy will start growing next year, with China, Brazil and India among the first to bounce back, billionaire investor and currencies expert George Soros told CNBC.
The members of the G20 are likely to call for at least a doubling of the International Monetary Fund's budget, if not more, UK Chancellor of the Exchequer Alistair Darling told CNBC Thursday.
Down morning, afternoon rally, late day selloff...try making sense of this. Bottom line is there was tremendous technical damage done this week. The NASDAQ hit a a closing low (5-year low) on Wednesday, while the S&P 500 hit an intraday low (also a 5-year low) yesterday.
This weekend's global economic summit isn't generating a lot of enthusiasm on Wall Street. But some are hoping that the gathering might yield some tangible results.
Don’t heed the hype. This weekend’s G20 Summit will not, and cannot live up the hopes that a new financial architecture will be unveiled. It will likely be little more than a photo opportunity for the political class to demonstrate to their people that they are doing some about the global crisis.
Tiger Woods discusses getting into real estate in the current market, how he feels about Obama's election and the survival of his sport in tough economic times, while American International Group's CEO comments on the company's loss of $24 billion in the third quarter and the government's bailout package. Following are today's top videos:
The Latvian government announced on Saturday the surprise takeover of the country's second largest bank, Parex, as the global financial crisis hit the small Baltic state where economic growth has fallen sharply.
The International Monetary Fund has agreed to lend Pakistan $9 billion, a source familiar with the negotiations told CNBC. There will also be another meeting in November to negotiate for more aid with Gulf countries.
An aide to Ukraine's president said on Monday that Prime Minister Yulia Tymoshenko risked losing an IMF credit by attaching conditions to the adoption by parliament of financial measures required for the loan.
The Pakistani government will ask for $10 billion from the International Monetary Fund on Monday, CNBC has learned.
The International Monetary Fund has launched a probe into allegations of improper behavior in relation with a subordinate by its chief, Dominique Strauss-Kahn.