The International Monetary Fund recognised the government of Somalia after a 22-year hiatus. The country will still not be able to borrow from the fund, due to its outstanding debts of about 352 million dollars, the IMF said. With the installation of a government in September under the leadership of President Hassan Sheikh Mohamud, the [...]
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The International Monetary Fund on Feb 24 2012 approved a plan to distribute about $1.1 billion in profits from past gold sales to IMF member countries, with the expectation they would return the money to fund an anti-poverty loan programme. Under the IMF board’s decision, the $1.1 billion in gold sales profits would be distributed once member countries have [...]
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The International Monetary Fund is sending $2.95 billion to Greece, the latest instalment in a joint effort to help the ailing government avoid a default on its debt. The global lending organisation’s rescue package follows $10.7 billion provided by the 17 euro-zone nations last week.Greece’s huge budget deficits and shrinking economy have made it impossible [...]
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In its recent biannual publication, World Economic Outlook, the International Monetary Fund warned that the world economy was “in a dangerous new phase.” That warning was issued just days before the annual IMF-World Bank meeting of finance ministers and central bank governors inWashington. With the World Bank and other international agencies more or less endorsing [...]
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The former French Finance Minister, Christine Lagarde, took up her post as the new head of the International Monetary Fund on Tuesday, after countryman Dominique Strauss-Kahn quit in May amid sexual assault charges. Ms. Lagarde (55) is committed to serving five years as Managing Director of the world’s key crisis lender after three previous Directors, [...]
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The world economy is facing turbulence. There are certain well-marked developments that threaten to slow down the recovery. While there is considerable unanimity on this point, there is far less agreement on whether the global economy is merely facing a rough patch or heading towards a serious downturn something from which it will take years [...]
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It is an artificial currency created by the IMF in 1969. SDRs are allocated to member countries and can be fully converted into international currencies so they serve as a supplement to the official foreign reserves of member countries. Its value is based on a basket of key international currencies (U.S. dollar, euro, yen and [...]
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A candidate from the BRICS group of countries may fill the post of Deputy head of the International Monetary Organisation (IMF), Russia’s President Dmitry Medvedev announced after the G8 summit in Deauville, France. Noting that so far the IMF had traditionally been headed by a European Mr. Medvedev said this arrangement was no longer in [...]
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As the race for the next IMF chief hots up, Finance Minister Pranab Mukherjee on Tuesday said he was in touch with his counterparts from developed and emerging economies on the issue and was keeping a close watch on the developments. “Our executive directors (in IMF) are meeting and exchanging views. And I am regularly [...]
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Image via Wikipedia The Managing Director of the International Monetary Fund Dominique Strauss-Kahn was taken off an Air France plane at Kennedy International Airport just minutes before it was to take off for Paris and arrested in connection with the sexual attack of a maid at a Midtown Manhattan hotel, the authorities said. Strauss-Kahn [...]
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1. The Meaning of Buddha is 2. The abbreviation of NAV in Mutual Fund Industry is 3. In this year the Colour TV Transmission was introduced in India 4. In India, Kaveri is for the South Indian River, it also means 5. The Longest Mountain Range in the World is 6. The Term ‘Channel Financing’ [...]
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The G-20 announced that International Monetary Fund (IMF) would review policies of the world’s seven largest economies, including India and China, with the objective of rectifying flaws before they imperil growth. The US, Japan, Germany, France and Britain are the other five countries that influence the global economy. The seven countries would be examined for [...]
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The International Monetary Fund (IMF) has said that the global economy will grow faster this year than expected. The IMF revised up its growth forecast from 4.2% to 4.4%, but warned of a two-speed recovery as advanced economies grow slower than emerging ones. It said Europe’s economic health was weak, and said the size of [...]
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The International Monetary Fund (IMF) has approved a two-year, $30bn (£19bn) credit facility with Poland, replacing a one-year arrangement agreed in July. The IMF said Poland viewed the facility as “precautionary and does not intend to draw [on it]“. It said that the Polish economy had gathered momentum in 2010, but that “sizeable downside risks [...]
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The International Monetary Fund (IMF) has approved a three-year loan of 22.5bn euros ($30.1bn; £14.4bn) for the Republic of Ireland. The funds from the first part of the IMF’s contribution to the EU and IMF rescue package totalling 85bn euros being received by the Irish Republic. About 5.8bn euros of the IMF funds will be [...]
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