The International Monetary Fund has approved a new $36-billion loan for debt-ridden Greece, despite misgivings about the country’s economic performance with a previous loan. The board of the Washington-based institution on Thursday adopted a proposal by IMF Managing Director Christine Lagarde for the new funding. The loan will be disbursed in installments over a four-year […]
IMF Approves New Loan for Greece
Posted March 15th, 2012 at 1:30 pm (UTC-5)
The International Monetary Fund has approved a new $36 billion loan for debt-ridden Greece, despite misgivings about the country’s economic performance with a previous loan. The board of the Washington-based IMF on Thursday adopted a proposal by its managing director, Christine Lagarde, for the new funding. She said last week that the IMF loan would […]
IMF Set to Approve New Loan for Greece
Posted March 15th, 2012 at 10:25 am (UTC-5)
The International Monetary Fund appears set to approve a new $36 billion loan for debt-ridden Greece, despite misgivings about the country’s economic performance with a previous loan. The board of the Washington-based IMF was expected to meet Thursday and adopt a proposal by its managing director, Christine Lagarde, for the new funding. She said last […]
Major US Banks Reach Deal on Deceptive Foreclosures
Posted January 23rd, 2012 at 4:05 pm (UTC-5)
Five major U.S. banks and legal officials from all 50 states have reached a tentative $25 billion settlement in a case alleging that mortgage lenders engaged in deceptive practices when they took control of houses because homeowners could no longer afford to make loan payments. Millions of Americans have lost their homes to bank foreclosures […]
World Bank Suspends Loan to Bangladesh
Posted October 10th, 2011 at 11:05 am (UTC-5)
The World Bank has suspended a $1.2 billion loan to Bangladesh for a bridge while the government investigates alleged corruption in the bidding process. Bangladesh Finance Minister A.M.A Muhith said Monday the bank had “temporarily halted” funding. The money was to be used to build the country’s longest river bridge, connecting the country’s northwest to […]
ADB Helps Nepal Boost Water Supply
Posted September 19th, 2011 at 7:32 am (UTC-5)
The Asian Development Bank has announced an $80 million loan to Nepal for piped water distribution improvement. ADB says the improvements will benefit nearly 3 million people in the Kathmandu Valley. Manoj Sharma, of ADB’s South Asia Department, says the project will prioritize “underserved areas and poor sections” of the population. The Kathmandu Valley Water […]
Belarus Asks IMF for Rescue Loan of Up to $8 Bn
Posted June 1st, 2011 at 12:05 pm (UTC-5)
Belarus is requesting a new economic rescue loan from the International Monetary Fund to help it cope with a deepening financial crisis. Belarusian Prime Minister Mikhail Myasnikovich said Wednesday the government has asked for an IMF loan between $3.5 billion and $8 billion for the next three to five years. Belarus last received an IMF […]
Belarus Asks IMF for a Rescue Loan
Posted June 1st, 2011 at 4:50 am (UTC-5)
Belarus says it is asking the International Monetary Fund for a rescue loan to help it cope with a deepening financial crisis. The former Soviet republic announced the request Wednesday, a day after it froze prices on some basic foods until July 1 and several days after it devalued its currency by more than a […]
