International Monetary Fund

Nations lead the world to another depression with their currency policies

October 8, 2010 - 7:34am | Analytics | News

The top global financial organizations warned that the current approach adopted by world nations to protect their economies and weaken cooperation may lead to the replication of the previous mistakes and their consequences. World leaders must defuse currency tensions before they worsen to avoid repeating the mistakes of the Great Depression, the head of the World Bank said.

International Monetary Fund | national currency | recession | recovery | World Bank

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Turkish Central Bank will lower benchmark interest rate

June 15, 2009 - 3:52pm | Banks and internet banks | News

Turkey’s Central Bank will probably reduce its benchmark interest rate to a new low this week, in what may prove to be the last move in eight months of monetary easing. The central bank will reduce the rate by quarter of a percentage point to 9 %, the eighth consecutive decline, as predict some economists surveyed by Bloomberg. The others forecast a half-point cut. The Ankara-based bank will announce its decision tomorrow.

benchmark interest rate | central bank | International Monetary Fund | Turkey

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$11 billion to be lent by IMF to sub-Saharan Africa

May 26, 2009 - 2:54am | Figures | News

In a move to help reduce poverty and boost economic growth in sub-Saharan African countries the International Monetary Fund plans to provide these nations with financing in $11 billion of loans, as it was reported by the fund Managing Director Dominique Strauss-Kahn.

The ability of the IMF to provide the so-called special drawing rights to African states depends on the Group of 20 nations ratifying commitments made at a summit in London last month, said Strauss-Kahn.

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What will happen if rich nations don’t help poorer states?

April 27, 2009 - 1:53am | Analytics | News

On Sunday finance and aid ministers from the 185 member countries of the World Bank and International Monetary Fund called on rich states to provide aid to the poorer states as more nations are plunging into the poverty falling victims to the financial crisis. The ministers also said that it might be necessary to raise more resources for the World Bank if the economic turmoil aggravates.

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Latvia is about to go bankrupt. Budget will be enough only until April ends

February 28, 2009 - 12:56am | News | Other themes

Latvia is about to go bankrupt, says Valdis Dombrovskis, the country’s Prime Minister. The only way to avoid it is to appoint a new government and to cut a budget. The 37-year old PM, previously served as Latvia’s finance minister is sure that it is necessary to cut the countries budget by almost €1 billion – on top of existing spending reductions of some €1.4 billion – to secure full payment of a €7.5 billion bailout agreed last year with the International Monetary Fund (IMF) and the European Union, reported the Irish Times.

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World economic growth will fall to the lowest rate in more than 60 years

January 30, 2009 - 1:45pm | Analytics | News

The International Monetary Fund predicts that the world economic growth will fall to 0.5% in 2009.

Even though overall global economic growth was rather challengeable for world financial institutions, 2009 is expected to be the most challenging year for economies across the globe since World War II. The IMF is a global organization of 185 countries and it predicts that financial markets will remain under stress.

emerging countries | International Monetary Fund | stimulus actions | world economic growth

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