economic crisis

The International Monetary Fund has strongly criticized the United States for its loose budget deficit policy that may result in another global economic crisis. The IMF said that the US lacks a “credible strategy” to stabilize its mounting public debt.

The US was the only advanced economy to be increasing its underlying budget deficit in 2011 at a time when its economy was growing fast enough to reduce borrowing, said the fund.

IMF Managing Director Dominique Strauss-Kahn appealed the US, Britain and other countries to cooperate on new policies and regulations in the wake of the financial crisis.

As he claimed at the annual Herziliya Conference, at the onset of the crisis, world leaders were "scared" and agreed to work together to cancel out the crisis. However, at present, countries are formulating policies on their own.

The U.S. economy is growing again but recovery will be moderated by a weak labor market and troubles in commercial real estate, Atlanta Federal Reserve Bank President Dennis Lockhart said.

  Speaking to the Rotary Club of Atlanta, Lockhart said inflation was not an immediate source of concern amid an expansion that would probably remain sluggish.

Royal Bank of Scotland Group Plc warned it could struggle to hire and retain key staff after the UK government demanded control of bonuses as a condition for insuring its bad debts.

Bailed-out RBS, set to become 84 percent state-owned after the latest aid package, detailed the unprecedented direct intervention ahead of a shareholder meeting later this month to vote on its participation in the state-backed Asset Protection Scheme (APS) for toxic loans.

According to IMF official Wednesday statement, Dubai World crisis is supposed to slack United Arab Emirates economic recovery.

 Director for the IMF's Middle East and Central Asia Department Masood Ahmed reported that IMF was looking at revising down its outlook for the UAE's non-oil GDP to "significantly lower" than 3% it had projected in October. That would still be higher than the close to zero forecast the IMF has forecasted for the region in 2009.

The global economy is in a holding pattern and vulnerable to more upheaval, the head of the IMF said on Monday, adding a lasting recovery will depend on policymakers taking the proper steps in the coming months.

Poland is a country in Central Europe bordered by Germany to the west, the Czech Republic and Slovakia to the south, Ukraine, Belarus and Lithuania to the east, and the Baltic Sea and Kaliningrad Oblast, a Russian exclave, to the north. It’s the 9th largest in Europe country with over 38 million people populated the country that makes it the 34th most populous country in the world and one of the most populous members of the European Union.

 Seventy eight percent of families report that they’ve been affected by the economic downturn according to a recent online survey from Disney Family.com. As economic uncertainty continues, parents remain cautious, with forty eight percent reporting they are concerned about job security and the current job market, up from the thirty-six percent in 2008. 

The US Federal Deposit Insurance Corp. officials were examining the positive conclusions given to Citigroup's management team in a government-mandated review in impacts of the financial crisis. 

Management skill is one of the factors used by regulators to determine financial-health ratings of US banks.

 Though the review had positive conclusions about Citi's top management, It was less favorable about two key members of Chief Executive Vikram Pandit's team, Vice Chairman Lewis Kaden and Chief Administrative Officer Don Callahan.

 TD AMERITRADE Holding Corporation recently asked a panel of its retail clients for an “every day investor’s” perspective on the markets, the economy and whether recovery is in sight. The result – as the markets have climbed in recent months, so too has investor sentiment. 

 According to the new Randstad Work Watch study conducted among 1,008 adults from August 28 to September 1, 2009 by Ipsos Public Affairs released Thursday, American workers name good pay, health insurance and opportunity for advancement as their top priorities in their ideal jobs.

 Though clearly affected by an anemic job market and a two-year drop in housing values, the majority of Californians are nonetheless optimistic about the future of the state, according to the Citi California Pulse™, a new quarterly survey released today by Citibank.