European Union
European stocks increased in cautious trading on Wednesday as investors awaited the outcome of Ireland's meeting with European Union and International Monetary Fund officials to address its growing debt problems and ailing banks. Irish Finance Minister Brian Lenihan announced that intensive engagement would begin on Thursday, but the
Agencia Efe S.A.
Brazil intervened on Saturday to urge the International Monetary and Finance Committee to be less severe in its assessment of Argentina's economic situation. The Argentine government has been undergoing restructuring of its debt, and the IMF has praised its efforts. The Committee's final communique urged Argentina
International Monetary Fund
The United States is urging the world's wealthiest nations to forgive Iraq's $120 billion in debt, which is considered crucial to the country's future and economic revival. The administration believes that unless the debt is cancelled, Iraq will struggle to attract foreign investment and
International Monetary Fund
The International Monetary Fund, the World Bank, and regional development banks have burdened very poor countries with unsustainable debt, largely acquired in the 1970s. Despite paying back billions in interest, these countries remain unable to pay back the principal, perpetuating a cycle of debt that hinders their ability to provide
International Monetary Fund
Thousands of protesters swarmed through the streets of the capital today, attempting to shut down meetings of world financial leaders. Despite a large police presence, including 1,500 officers from city and federal agencies, the protests for the most part passed peacefully. However, there were brief clashes between police officers
International Monetary Fund
Protesters gathered in Washington D.C. to protest the meetings between the World Bank and International Monetary Fund officials and central bank governors and finance ministers from 180 countries. The demonstrations, which drew as many as 10,000 people, aimed to disrupt the meetings and bring attention to their cause.
International Monetary Fund
Protesters' convergence center, occupied by hundreds of demonstrators from all over the world, was closed down by the Washington Metropolitan Police Department on Saturday morning, citing fire safety violations. The raid occurred just a day before the planned mobilization to shut down the World Bank and the International Monetary
International Monetary Fund
Tens of thousands of protesters from various organizations, including trade unionists and anti-corporate activists, have begun to arrive in Washington ahead of next weekend's spring meetings of the International Monetary Fund (IMF) and the World Bank. The protesters aim to shut down the meetings, echoing the massive protests
Indonesia
Indonesian Economic Minister Ginandjar Kartasasmita has strongly rejected pressure from the International Monetary Fund (IMF) and the World Bank to intervene in East Timor, where violence has been escalating. Ginandjar, in Auckland for the Asia-Pacific Economic Cooperation (APEC) forum, claimed that the IMF and World Bank had "no business&
Indonesia
The escalating violence in East Timor has sparked fears that the Indonesian crisis will trigger a fresh financial meltdown, causing stock and currency markets to plummet across Asia. The Indonesian rupiah has fallen to its lowest level in five months, plummeting 4 per cent against the US dollar to 8,
United Kingdom
The International Monetary Fund (IMF) has given a pre-budget boost to the UK government with its report praising Britain's "skilful management" of its economy. The report, compiled after an audit completed on March 3, notes that the UK has sustained economic growth without sparking inflation, mainly
Brazil
In July 1997, a wave of speculative selling caused the Thai currency to collapse, triggering a chain reaction of economic instability throughout Asia. The crisis was exacerbated by higher interest rates prescribed by the International Monetary Fund (IMF) to stabilize currencies, leading to widespread job losses and economic hardship. The
