The International Monetary Fund warns “time is running out” to take care of financial problems that could throw the global economic recovery into reverse. The IMF issued its bleak assessment Wednesday as part of its semi-annual Global Financial Stability report. It said political bickering and rising debt levels are the biggest problems, and are combining […]
IMF: Politics Threatening Global Financial Stability
Posted September 21st, 2011 at 10:51 am (UTC-5)
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Greece Says New Austerity Measures Needed
Posted September 21st, 2011 at 10:45 am (UTC-5)
Greece’s finance minister says the debt-ridden country needs to adopt new austerity measures before its international creditors will hand it more money to avoid a default next month on its bailout loans from last year. Greek Finance Minister Evangelos Venizelos told Parliament Wednesday that the nation has not fully grasped its economic peril, and that […]
Greece Says New Austerity Measures Needed
Posted September 21st, 2011 at 9:35 am (UTC-5)
Greece’s finance minister says the debt-ridden country needs to adopt new austerity measures before its international creditors will hand it more money to avoid a default next month on its bailout loans from last year. Greek Finance Minister Evangelos Venizelos told Parliament Wednesday that the nation has not fully grasped its economic peril, and that […]
US Central Bank Mulls Action as Lawmakers Weigh In
Posted September 21st, 2011 at 8:33 am (UTC-5)
Hopes and fears for the struggling United States economy are focused on the country’s central bank, set to announce what it intends to do help spark a recovery. The U.S. Federal Reserve concludes its two-day meeting later Wednesday, with many economists predicting the bank’s policy board will move to further lower borrowing rates in order […]
Greece and Creditors Make Some Progress
Posted September 21st, 2011 at 7:10 am (UTC-5)
After speaking with creditors for a second time Tuesday, Greek Finance Minister Angelos Venizelos stated, “Greece is and will always be a member of the eurozone.” Officials from the European Union and International Monetary Fund announced they will be back in Athens next month to resume inspections of the Greek economy and whether it should […]
European Debt Inspectors to Return to Greece
Posted September 20th, 2011 at 6:10 pm (UTC-5)
Officials from the European Union and International Monetary Fund will be back in Athens next month to resume inspections of the Greek economy and whether it should get another loan payment. EU, IMF, and European Central Bank officials held a second telephone conference call with Greek leaders Tuesday. An EU statement says good progress was […]
Greece Renews Debt Talks With International Creditors
Posted September 20th, 2011 at 2:05 pm (UTC-5)
Greece has started a second round of talks with international creditors on its precarious financial plight, as there are new warning signs throughout Europe about the fallout from the continent’s debt contagion. Finance Minister Evangelos Venizelos talked late Tuesday with officials from the International Monetary Fund, the European Union and the European Central Bank. Initial […]
IMF Downgrades US Economic Forecast, Urges ‘Credible Fiscal Policy’
Posted September 20th, 2011 at 12:53 pm (UTC-5)
The International Monetary Fund says the U.S. economy is struggling to overcome “sluggish” growth due to an unresolved government debt crisis and weaknesses in the housing market and household finances. In a report released Tuesday, the IMF downgraded its forecast for U.S. economic growth this year to 1.5 percent, one percentage point lower than its […]
IMF: World Economy Entering ‘Dangerous New Phase’
Posted September 20th, 2011 at 12:10 pm (UTC-5)
The International Monetary Fund is sharply downgrading its outlook for the global economy, saying it is entering a “dangerous new phase.” The IMF said Tuesday that the recovery from the world recession has “weakened considerably,” and cut its growth forecasts for almost every geographic region. It said that the overall global economy will grow by […]
IMF Downgrades US Economic Forecast, Urges ‘Credible Fiscal Policy’
Posted September 20th, 2011 at 10:42 am (UTC-5)
The International Monetary Fund has downgraded its forecast for the U.S. economy this year, predicting growth will be limited to 1.5 percent. That’s one percentage point lower than its previous projection. In a report released Tuesday, the IMF says several factors prompted the downgrade, including subdued consumer and business confidence, a stagnant labor market, a […]
