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The Greek parliament passed a second austerity bill Thursday, opening the way for the EU and IMF to release a 12 billion euro ($17 billion) loan installment which Athens urgently needs to stave off bankruptcy.

Greece's parliament is expected to pass a second austerity bill on Thursday to enable the country to avert bankruptcy by securing a 12 billion euro ($17 billion) loan tranche from the EU and IMF.

The International Monetary Fund on Wednesday pressed U.S. lawmakers to quickly lift the government's borrowing limit to avoid a severe shock to global markets and a still-fragile economic recovery.

While the passage of the bill gives Greece some breathing room, lowers the risks of an immediate default and will keep the country afloat, the actual implementation of the budget may be very difficult -- if not impossible.

Failure by U.S. lawmakers to agree soon on a deal to raise the government's borrowing limit could deliver a severe shock to a still fragile recovery and global markets, the International Monetary Fund warned on Wednesday.

While the passage of the bill gives Greece some breathing room, lowers the risks of an immediate default and will keep the country afloat, the actual implementation of the budget may be very difficult -- if not impossible.

India supported France's Christine Lagarde as the International Monetary Fund's next leader because it wanted to be part of the consensus that was forming around her, Indian Finance Minster Pranab Mukherjee said on Tuesday.

India supported France's Christine Lagarde as the next leader of the International Monetary Fund because it wanted to be part of the consensus that was building around her, Indian Finance Minster Pranab Mukherjee said on Tuesday.

French Finance Minister Christine Lagarde on Tuesday was elected the managing director of the International Monetary Fund, maintaining Europe's grasp on the top job at global lender.

The newly named managing director of the International Monetary Fund is urging Greek opposition politicians to pass the Socialist government’s austerity budget.

Brazil on Tuesday backed French Finance Minister Christine Lagarde as the next head of the International Monetary Fund, aligning itself with other big emerging markets such as China instead of its Latin American neighbors.

The International Monetary Fund has named Christine Lagarde its new head and the first woman to lead the organization, according to a statement released from Washington today.

Without telling his government, the head of Afghanistan's central bank has left the country and taken up residence in the US.

The United States has officially declared its endorsement of France’s finance minister Christine Lagarde to be the next chief of the International Monetary Fund (IMF), virtually guaranteeing she will becomes its boss when its board meets next week.

The United States formally offered its backing on Tuesday for French Finance Minister Christine Lagarde to take over the top job at the International Monetary Fund, ensuring a win for her over Mexico's Central Bank Governor Agustin Carstens.

French Finance Minister Christine Lagarde looks set to emerge on Tuesday as the International Monetary Fund's new chief, maintaining the tradition of a European heading the global lender.

European Union officials are working on a contingency plan for Greece if its parliament rejects an austerity program and the country cannot receive the next instalment of EU/IMF emergency loans, three euro zone sources said on Monday.

French Finance Minister Christine Lagarde is expected to be chosen as early as Tuesday to be the new leader of the International Monetary Fund, The Associated Press reported.

The World Bank said on Sunday it would have to take stock of plans to lend to Egypt after the International Monetary Fund confirmed the authorities no longer wanted an IMF-backed loan program.

Egypt will not borrow from the World Bank and International Monetary Fund after revising its budget and cutting the forecast deficit, even though a loan had been agreed, Finance Minister Samir Radwan said on Saturday.

Greece has won the consent of a team of EU-IMF inspectors for its new five-year austerity plan on Thursday after committing to an additional round of tax rises and spending cuts, sources with knowledge of the talks said.

The IMF said on Thursday it had identified computer files that were copied during a recent cyberattack and has no evidence information in emails or the fund's financial systems was compromised.

Greece’s largest unions have called for a 48-hour general strike next week to protest a new austerity package that the nation’s parliament will vote on.

The Greek parliament has voted favorably on a motion of confidence for the government of George Papandreou, Reuters reports.

Fitch Ratings agency has warned any voluntary rollover by commercial lenders of Greece’s debt would be regarded as a “default,” putting even more pressure on Euro Zone ministers and Greek Prime Minister George Papandreou, who is facing a crucial vote of confidence.

International lenders are making an unexpected visit to Athens to check on its resolve to implement painful austerity plans that have caused weeks of public protests and political confusion.

Greece is selling state-owned businesses to raise cash as part of IMF-required austerity measures.

US stocks have caught a break from its mid-year slump on Monday.

If one thought to watch a movie online on Father's Day or just to spend Sunday time on Netflix, they were in for a surprise.