International Monetary Fund Stories
Gold price in Euro risen by 38 percent in 2010
The Gold Price in Euros has risen more than 38% so far in 2010. The Gold Price in Swiss Francs has also hit record highs. It looks as if the SNB will have to revoke its decision to stop intervening, says Steven Barrow, chief currency strategist at Standard Bank in London today.
China says willing to help euro zone return to health
China is willing to help countries in the euro zone return to economic health and will support the International Monetary Fund element of a bailout package for the bloc, a Chinese Foreign Ministry spokeswoman said on Thursday.
Ivory Coast's Gbagbo softens stand, invites Opposition for dialogue
Cote d'Ivoire's disputed president, Laurent Gbagbo, has announced that he would be willing to engage with the rival faction of Alassane Ouattara. In a televised address, he announced that the international community had declared a war on the African nation. The incumbent president also called on the Opposition to leave Abidjan's Golf Hotel and return to their homes.
Hong Kong property market soars 20 percent in 2010
The Hong Kong property market -- fueled by strong capital inflows -- soared almost 20 percent so far this year.
China supports Europe’s measures to deal with debt crisis
China on Tuesday offered support to Europe's efforts to deal with the peripheral debt crisis and said Beijing will not cut down its holdings of European sovereign bonds.
Irish divided on bailout, say sovereignty lost: poll
Just over half of Irish people support a multi-billion euro EU/IMF rescue package but 56 percent believe the country has surrendered its sovereignty by accepting the assistance, a poll published on Saturday said.
Moody’s cuts Ireland rating by five notches
Moody's Investor Services on Friday downgraded debt-stricken Ireland's rating by five notches, citing the country’s troubled banking sector, uncertain economic outlook and decline in the Irish government's financial strength.
IMF votes to shift more power to emerging economies
The International Monetary Fund said on Thursday that its board of governors had approved reforms that will shift more voting power to emerging-market countries like China.
IMF approves Ireland loan; open to re-negotiation
The International Monetary Fund approved a 22.5 billion euro loan for Ireland on Thursday and said it was open to renegotiating parts of the bailout package with a new government provided its overall targets were adhered to.
Europe should expand its sovereign bailout fund: experts
Many experts in the private sector favor expanding the size of the 750-billion euro European Financial Stability Facility (EFSF), which was created to bail out European countries under sovereign debt pressures.
Greek unions again strike to protest government austerity program
Greek unions have again staged strikes and demonstrations to protest the government’s austerity measures, including changes in labor laws and widespread cuts in wages.
Ireland passes bailout package despite opposition
Ireland's parliament approved a multi-billion euro EU/IMF bailout package on Wednesday in the face of opposition threats to renegotiate the deal to force losses on some senior bondholders in Irish banks.
Eurozone unemployment remains stable as UK rates soar
Employment rates remained mostly stable in the euro area during the third quarter, dropping only by 0.2 percent, while unemployment rate in the U.K. touched its highest since the beginning of the year.
Irish opposition warns bank bondholders before vote
Ireland's main opposition party said on Wednesday it was obscene that a multi-billion euro EU/IMF bailout package protected senior bondholders in Ireland's banks at the expense of stretched taxpayers.
Irish opposition warns on senior bank debt
Ireland's main opposition party wants to renegotiate the country's EU/IMF bailout to make holders of senior bank debt not covered by a government guarantee share the cost of bailing out the sector.
Irish parliament to vote on EU/IMF bailout
Ireland's parliament will vote on a controversial multi-billion euro EU/IMF bailout loan on Wednesday, putting pressure on opposition parties critical of the aid package ahead of a general election early next year.
Why the Chinese save so much
The rise in income uncertainty and the 1997 pension reform measures have been largely responsible for the recent rise in China's savings rate. Other factors include health care costs and astronomical real estate prices.
Portugal seeks to sell government debt to China
The finance minister of debt-troubled Portugal is in Beijing, China to try to convince Chinese government authorities to purchase Portuguese government bonds.
Ireland may seek to sell troubled banks to Middle East investors
An Irish delegation led by former prime minister John Bruton has travelled to the Middle East, gauging the interest of Arab investors, including sovereign wealth funds, in buying some troubled Irish banks, as the Dublin government seeks foreign investors for financial investment.
Cowen's tactics delay IMF vote on Ireland
The International Monetary Fund postponed approving a multi-billion euro loan for Ireland on Friday after Prime Minister Brian Cowen said he would seek parliamentary approval for the bailout.
Cowen's political tactics delay IMF vote on Ireland
The International Monetary Fund postponed approving a multi-billion euro loan for Ireland on Friday after Prime Minister Brian Cowen said he would seek parliamentary approval for the bailout.
EU's Rehn calls for collective action as ‘common bond’ faces headwinds
A day after Germany rejected the proposal to establish a common market for eurozone sovereign bonds, EU Economics and Monetary Affairs Commissioner Olli Rehn called for a coordinated action to repair the damage of the debt crisis afflicting the region.
IMF chief: European situation remains troubling
International Monetary Fund chief Dominique Strauss-Kahn on Wednesday said the situation in Europe remained troubling, keeping up pressure on policymakers to find more effective measures to deal with the euro zone's debt crisis.
German Oct. industrial production rises
German industrial production topped economists' expectations during October, a report by Destatis said, indicating the German economic recovery continues, contrary to fears of a slowdown.
Euro zone must avoid piecemeal solution: IMF chief
The euro zone needs a comprehensive solution to the debt crisis rocking the group and must avoid a country-by-country approach, the head of the International Monetary Fund said on Tuesday.
Some European nations should go bankrupt: Rogers
On an interview today with CNBC, famed investor and hedge fund manager Jim Rogers said some European countries should be allowed to go bankrupt so that they can restructure their debt without hurting other parties.
Ireland presents austerity budget to meet terms of EU/IMF bailout
The Irish government has presented what is likely the toughest austerity budget in its history, comprising spending cuts of 6-billion euros ($8-billion) and an increase in taxes, in addition to other measures already outlines last month in the so-called “National Recovery Plan.”
Irish government urges passage of demanding budget
The Irish government urged parliament on Tuesday to approve a tough 2011 austerity budget which foresees 6 billion euros in savings and must win passage for the country to receive emergency loans from the EU and IMF.
Ireland unveils record austerity budget
The Irish government unveiled a tough 2011 budget on Tuesday which foresees 6 billion euros in spending cuts and tax hikes, warning that passage was crucial to avert a deeper crisis and free u
p EU/IMF aid.
Weary Irish brace for tough budget cuts
Irish people braced for tough cutbacks and higher taxes on Tuesday as the government readied a new austerity budget to shrink a soaring deficit and win access to emergency loans from the EU and the IMF.