WASHINGTON: With a proven track record in managing complex work programmes, economist Siddharth Tiwari has been named as the Secretary of the International Monetary Fund (IMF) by its Managing Director Dominique Strauss-Kahn. Mr. Tiwari, ...
One of the interesting aspects of the public discussions about the process involved in reaching an agreement with the International Monetary Fund (IMF) for a US$1.2 billion two-year standby agreement...
The Brazilian government's decision last month to impose a 2% tax on all capital inflows into equities and fixed income instruments to slow the appreciation of its currency, the real (which has gained 36% against the US dollar this year), has re-opened the debate on capital controls and proposals like Tobin tax on cross-border capital flows. Apart from containing the appreciation of the real, it is...
The Corbett Report interviewed Daniel Estulin, who revealed the behind-the-scenes details of the G20 Finance Minister's meeting in St. Andrews, Scotland in early November. Details were derived from actual G20 documents that his sources sneaked out of the meetings, despite heavy, unprecedented security, "even by Bilderberg standards", according to Estulin. (See BilderbergBook.com ). Estulin...
This is the question raised in a recent World Bank Working paper. The answer has to be "yes" without reading the paper. The question is the magnitude. The numbers from the abstract to not strike me as too far off for China and India. You can bet that the Chinese and Indian government's have already worked this out - this is exactly why Copenhagen is doomed to fail Can Global De-Carbonization...
After the Great Depression and World War II, the world powers got together in Bretton Woods, New Hampshire, and cooperated on a new framework for global economic relations and created the World Bank and IMF, institutions that persist today. In a roundtable discussion, Joseph Stiglitz, Benjamin Cohen and Adam Posen discuss why they think (or don't think) such a re-organization is possible in today's...
Poland may be one of the lucky few economies that has evaded the recession this year. A major exchange traded fund (ETF) provider has also taken notice and a Poland-specific ETF could be coming out soon. The International Monetary Fund (IMF) stated that Poland’s “limited reliance on...
There's been a lot of buzz in financial news and blogs in the past few months about the dollar carry trade. The dollar carry trade can be defined as: ...low U.S. interest rates enable investors around the globe to borrow dollars for next to nothing and invest them elsewhere at higher rates. This bet -- known as the dollar carry trade -- appears to be one of the forces pushing down value of the dollar....
GBPEUR/GBPUSD The Pound declined for a third straight day against the U.S Dollar yesterday, while the UK currency also fell to a low of 1.1170 versus the Euro, amid speculation that UK banks will disclose more credit losses. The Daily Telegraph reported yesterday that UK lenders are in a worst state than those abroad, citing credit-checking company Experian Plc. The Chief Executive Officer Don Robert...
From MarketWatch : The measure was approved by the House Financial Services Committee as it considered broad bank regulatory reform legislation, and included a package of other measures weakening the Fed's power and capping how much it can lend or guarantee. The committee is now poised to pass the entire bill and has scheduled its final vote on the legislation for December 1. Lawmakers also agreed...
One of the interesting aspects of the public discussions about the process involved in reaching an agreement with the International Monetary Fund (IMF) for a US$1.2 billion two-year standby agreement, is that there seems to be an implicit assumption on the part ...
WESTERN BUREAU: The US$200-million divestment cost of the national carrier Air Jamaica could be one of the major factors causing the delay in concluding negotiations with the International Monetary Fund (IMF). The deadline to wrap up the IMF loan was originally slated... ...
If stocks start to make their long anticipated retest of support, all kinds of opportunities arise from this very extended rally. Here’s just one. Check out this daily chart for gold ( click to enlarge ). Question: What’s missing from this picture? Gold Daily Chart- Chart Courtesy of AVA FX (11 Nov 19) Answer: Nearby support. Significance – Big Juicy Shorting Opportunity IF Stocks...
Black Caucus Blocks Wall Street Vote Members of the Congressional Black Caucus threatened to oppose a key financial regulatory reform bill today over unrelated economic concerns, forcing Financial Services Chairman Barney Frank (D-Mass.) to yank his bill before a final committee vote . The move is being interpreted as the CBC sending a message to the Obama administration that they need to be more aggressive...
To the struggle of a legend – Imran Khan Leaders who led the feeble skeleton of Pakistan’s politics crippled the state by implementing economic reforms of International Monetary Fund (IMF) and World Bank . By meeting their conditions, they have become powerless, as West has been using them for their own interests. The involvement of West in policy making has blemished the concept of transparency,...
Key players in the Group of 20 refused to support a plan create an insurance fund to pay for bailouts if governments have to step in again to save giant businesses on the brink of collapse. Finance ministers at the G-20 summit on Saturday discussed the idea of a tax on banks and other financial institutions to help fund future government emergency aid. But U.S. Treasury Secretary Timothy Geithner indicated...
Growth in the Bulgarian pharmaceutical market will be negatively impacted by the recession that is forecast to hit the country in 2009 and 2010 although it is proving to be more resilient than other sectors. BMI forecasts that drug market expenditure in Bulgaria should grow from US$1.09bn to US$1.16bn between 2008 and 2013, a rise of 1.3% per year. However, the health budget is being undermined by
Bosnia-Herzegovina has made marked economic development since emerging from war, elevating the country to middle-income status as defined by the World Bank. It is also working towards joining the EU, signing a Stabilization and Association Agreement (SAA) which oversees closer integration with the EU and covers commitments to political, economic, trade, or human rights reform in a country in exchange