PORTUGAL

Debt worries hammered European markets on Monday, knocking both the euro and regional shares down 1 percent while also weighing heavily on world equities, sending emerging markets down nearly 2 percent.

The International Monetary Fund on Friday approved a 26 billion euro ($36.8 billion) loan for Portugal to help the country recover from a debilitating sovereign debt crisis, saying it would immediately disburse 6.1 billion euros to ease investor concerns over the euro zone member's debts.

Fitch cut Greece's credit rating by three notches on Friday, pushing the country deeper into junk territory, and warned that any kind of debt restructuring would amount to default.

The International Monetary Fund on Friday approved a 26 billion euro ($37 billion) loan for Portugal and said it would immediately disburse 6.1 billion euros of the money to the euro zone member country to ease investor concerns over its debts.

History will remember Dominique Strauss-Kahn as a man who put the International Monetary Fund (IMF) on the road to decline, and that the new leadership should bring about a fundamental rethink of the fund's economic programs for the European periphery, leading think tank American Enterprise Institute has said.

John Lipsky—Acting Managing Director, International Monetary Fund delivered the following speech at Annual Meeting of the Bretton Woods Committee on May 19, 2011.

The main option under consideration for Greece now is a voluntary deal by investors to maintain their Greek bond holdings over the period of another EU/IMF program from 2011 to 2014, euro zone sources said.

Gordon Brown’s chances of taking over as boss of the International Monetary Fund (IMF), now that DSK has resigned, got even dimmer after UK Business Secretary Vince Cable indicated that Westminster would prefer from a Euro Zone nation as the new IMF chief.

Restructuring of sovereign debt in Greece would make it impossible for the European Central Bank to continue using its bonds as collateral in liquidity operations, Executive Board member Juergen Stark said.

Minutes from the last FOMC meeting held April 26-27, 2011.

The IMF warned Greece on Wednesday it must redouble reform efforts to avoid derailing its fiscal program, key to dealing with a huge debt mountain.

The IMF warned Greece on Wednesday that a drive to shore up its troubled finances would fail unless Athens redoubled its reform efforts, and the ECB hit back at suggestions a debt restructuring might be the solution.

The IMF warned Greece on Wednesday it must redouble reform efforts to avoid derailing its fiscal program, key to dealing with a huge debt mountain.

The IMF warned on Wednesday that Greece's drive to shore up its troubled finances would fail unless it sharply accelerated reforms, and the ECB hit back at suggestions a debt restructuring might be the solution.

World stocks climbed off four-week lows on Wednesday and the euro recovered some ground against the dollar as investors sought bargains in recently hard-hit markets.

Asia shares rose from a six-week low Wednesday, led by consumer stocks, but disappointing U.S. data have made some investors reluctant to follow commodity prices higher, containing a bounce in risky assets from currencies to oil.

Oil prices slid more than 2 percent on Tuesday as the dollar strengthened and weak economic data fueled concerns about demand that have helped push prices down by around 15 percent so far in May.

Oil prices edged lower on Tuesday, pressured by a stronger dollar and concerns about global growth prospects after a slew of weak economic data, bringing losses to around 15 percent so far in May.

Vodafone, the world's largest mobile operator by revenue, surprised investors with an upbeat outlook for 2012 on Tuesday after posting resilient results driven by customers upgrading to smartphones.

Gold Bullion prices were little changed below $1500 per ounce on Tuesday morning, but fell for non-US investors as the Dollar eased back on the currency market and European equity markets cut their earlier losses.

Europe will not let the euro fail and European Union countries are committed to cutting deficits, the president of the European Council told Chinese officials on Tuesday, seeking to ease fears that the euro zone crisis could imperil China's investments.