Brazil
Brazil's decision to abandon its foreign exchange policy and devalue the Real by 8.3% has thrown into doubt the country's ability to meet the tough budgetary targets set by the International Monetary Fund (IMF) as part of a $41 billion rescue package agreed in November.
International Monetary Fund
A handful of politicians and officials have the ability to make a difference in the wake of the near collapse of Long-Term Capital Management, which brought the world economy to the brink of calamity. The annual meetings of the IMF and World Bank in Washington have brought together officials from
International Monetary Fund
French finance officials have made significant headway in their plan to reform the International Monetary Fund, winning approval from IMF managing director Michel Camdessus. However, European Union finance ministers were more circumspect in their response, with some expressing reservations about the proposal's implications for global economic governance. The
Russia
The United States must take a leadership role in averting a global recession and addressing economic crises in countries like Russia and Indonesia, House Speaker Newt Gingrich said. With conventional remedies failing to prevent economic collapse in these nations, Gingrich emphasized that the US must step in and guide them
Russia
US Treasury Secretary Robert Rubin and International Monetary Fund (IMF) Managing Director Michel Camdessus have urged the Russian government to move swiftly to restore investor confidence after the decision to devalue the rouble. The US and international community are keen to see successful Russian economic reform, with the IMF providing
United Nations
The U.S. Senate voted 51-49 to pass a State Department spending bill that includes nearly $1-billion in back payments to the United Nations, but contains a provision that denies aid to international family-planning groups that support abortion, prompting President Bill Clinton to vow a veto. The bill also denies
United Nations
President Clinton has expressed concern over the potential removal of funding for US commitments to the International Monetary Fund and the United Nations from the supplemental appropriations bill. He urged House and Senate leaders to reinstate the full funding, citing concerns over the impact on global economic stability and US
International Monetary Fund
Asian economic crisis deepens, affecting Hong Kong, Singapore, Japan, Taiwan, Thailand, Malaysia, Australia, and New Zealand, as traders and investors struggle to cope with the fallout. East Asia's economic downturn has claimed a major Hong Kong finance house, Peregrine Investment Holdings Ltd., which announced its liquidation due to
International Monetary Fund
Economic troubles in Southeast Asia have battered the stock of Eden Prairie-based computer firm Stratasys Inc., with a 19.4 percent drop in its stock value. However, despite this setback, Stratasys CEO Scott Crump remains optimistic about the global economy. Crump believes that the interconnectedness of world financial markets has
World Bank Group. World Bank
Fierce disagreements erupted among finance ministers from 21 nations meeting in Madrid, where a plan to create billions of dollars in development aid for Russia and other former communist countries, as well as the poorest developing nations, hit a snag. A significant gap in the allocation of the aid, proposed
World Bank Group. World Bank
A key committee of the International Monetary Fund and the World Bank has adopted a plan to improve the efficiency of aid to developing nations as donor countries' budgets for aid tighten. The Development Committee, which advises the Boards of Governors for the Bank and the IMF, agreed with
International Monetary Fund
Spain's economic woes are characterized by a 24% jobless rate, more than double the European Union average, due in part to a growing female workforce and rigid labor contracts. According to IMF officials, the country's distinct employment challenges require nuanced solutions. The participation of women in
