Sponsored by International Monetary Fund

Japan said on Tuesday it will provide $60 billion in loans to the International Monetary Fund, becoming the first non-European nation to commit money to boost the fund's financial firepower to contain the euro zone debt crisis.

The International Monetary Fund hopes to gain governments' agreement this week to raise its funds by more than $400 billion, around two thirds of the amount it said it would need three months ago, fund managing director Christine Lagarde signaled on Tuesday.

IMF chief Christine Lagarde hopes to gain broad consensus on a more than $400 billion rise in the fund's firepower this week, an Italian newspaper on Tuesday quoted her as saying, though it may take some time to gain final commitments.

Japan said Tuesday it would offer $60 billion in loans to the International Monetary Fund (IMF) to boost a global firewall against Europe's debt crisis.

Japan said on Tuesday it will provide $60 billion in loans to the International Monetary Fund, becoming the first non-European nation to commit money to boost the fund's financial firepower to contain the euro zone debt crisis.

The World Bank on Monday selected Jim Yong Kim as its next president. The World Bank presidency has gone to a U.S. candidate since the organization was founded at the Bretton Woods conference.

Growth was 8.1 percent in the first quarter, the lowest since the same period in 2009, largely due to weak global demand and reduced investment in domestic real estate.

The International Monetary Fund is considering scaling back how much money it needs to rebuild its war chest for handling financial crises, and it may not strike a deal with members next week, the IMF head said on Thursday.

China's growth rate will decrease in 2012, according to the forecast by World Bank following the deterioration in the domestic property market and decrease in export demand globally.

The snap general election is expected to test Greek resolve for punishing austerity measures, and gives the parties just 24 days to prepare.

Prime Minister Lucas Papademos is expected to meet with President Karolos Papoulias later Wednesday to dissolve parliament and set a date for watershed elections, which are set to test Greek resolve for punishing austerity measures.

China reported Tuesday an unexpected $5.35 billion trade surplus in March, following a vast deficit in February and in the midst of a continued exports weakness caused by economic crises in overseas markets.

Federal Reserve Chairman Ben Bernanke said on Monday banks need to have more capital at hand in order to ensure the financial system is stable.

Premier Wen Jiabao recently said China's consumer price inflation target for the year would be around 4 percent. On Friday, data on first-quarter gross domestic product should indicate if any change in monetary policy is needed.

A bid for power by Hosni Mubarak's former intelligence chief is an insult to Egypt's revolution that, if successful, would trigger a second nationwide revolt, the Muslim Brotherhood's candidate for Egypt's presidency said Sunday.

Russia, the world's ninth largest economy, cut its 2012 GDP forecast to 3.4 percent from 3.7 percent as investment growth is expected to decline, its economy minister said Friday.

The head of China's national pension fund called for a bigger role for the Chinese currency in the international monetary system, saying the yuan could someday account for 10 percent of global reserves.

Greece extended for a second time on Thursday a deadline for remaining bondholders to accept a debt swap, giving authorities more breathing space to formulate a response to investors who have refused to sign up for the landmark deal.

The body of French scholar Richard Descoings was found in a New York hotel on Tuesday. Police say there is no evidence of foul play

China's rise has unsettled many Westerners, especially Americans who fear Chinese influence could overwhelm that of the U.S. As the U.S. struggles through economic recovery, will China seize its chance to lead the world?

She didn't mention the U.S. central bank's two previous rounds of bond-buying known as quantitative easing, but Lagarde stressed that past action by the Fed and European regulators helped keep growth strong and steady.

By deciding to field a candidate in Egypt's upcoming presidential election, the long-outlawed Muslim Brotherhood has turned a corner. So has Khairat al-Shater, the chosen Islamist contender for the top job in Egypt post-Hosni Mubarak.

Eurozone finance ministers agreed at a meeting in Copenhagen on Friday to increase the bailout lending limit to 700 billion euros ($930 billion), a move aimed at reassuring financial markets wary of a Eurozone default and dampening the crippling debt crisis of the past few years.

Japan's government approved on Friday a bill to double the nation's consumption tax by 2015, which is seen as an important step towards putting the public finances on a sustainable path.

Finance ministers from the 17-member currency area agreed to combine, for one year, a pair of rescue funds meant to help avert a default by Spain, Italy or Portugal, or a repeat by Greece, which warned that a third bailout might be necessary.

The heads of Brazil, Russia, India, China and South Africa, meeting in New Delhi on Thursday, drafted a joint statement attacking American and European aggressive policy actions and dominance of global institutions.

A general strike and looming deficit pushed Spanish bonds yields up Thursday, leading investors to question if the country will be the next weakest link in the euro zone.

Brazil, Russia, India, China and South Africa are meeting in Delhi to discuss a range of issues, including increased financial integration of the member countries.

Former International Monetary Fund chief Dominique Strauss-Kahn is being investigated for aggravated pimping in connection with a French prostitution ring.