International Monetary Fund

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IMF: Ireland Should Cut Taxes—for Women

'Sexist' plan slammed as austerity budget unveiled

(Newser) - The International Monetary Fund has proposed a range of measures to help Ireland restore its economy to health and some Irishmen are finding one in particular hard to swallow. The IMF recommends that the country cut income tax rates by 5%—for women only. Economists say this would boost the...

Europe Works Out $135B Irish Rescue Deal

...Even though Ireland insists it doesn't want to be rescued

(Newser) - Senior European financial officials emerged from a meeting in Brussels yesterday saying they were “intensifying preparations” for an Irish bailout of up to $135 billion. IMF experts will head to Dublin this week to examine the country’s finances and work out the details, the Wall Street Journal reports....

Jobless 'Wasteland': Europe, US on Brink of Social Revolt

Recession left 'gaping wounds' says IMF head

(Newser) - To those who think the worst of the recession is over, the head of the IMF has this to say: "We are not safe." An astounding 30 million jobs have been lost since the beginning of the financial crisis , three-quarters of those in richer economies, a new report...

Watch Out: Glenn Beck Making Sense ...Kinda

He agrees with the left at times—but for different reasons

(Newser) - Even those who typically write off Glenn Beck as paranoid, even crazy, must admit sometimes he “catches a real-life demon in his fantasy-world gallery of rogues, and he becomes oddly reasonable”—and he did so twice this week. First, he argued the alleged Times Square terrorist should have...

Icelanders Reject Massive Bank Bailout Debt

(Newser) - Icelanders have expressed their outrage at being asked, because of the collapse of their financial system, to take on debts adding up to 45% of last year’s economic output. A whopping 93% of voters rejected IMF loans that would have saddled each of Iceland's 320,000 citizens with $16,...

Student Chucks Shoe at IMF Chief

(Newser) - A student journalist threw a shoe at IMF director Dominique Strauss-Kahn during his speech at Istanbul University today, but missed so badly that Strauss-Kahn didn’t even need a Dubya-style duck. The man shouted, “IMF, get out!” as he hurled the shoe, then ran toward the platform. Security...

IMF: Global Recession Is Over
 IMF: Global Recession Is Over 
Oct 1, 2009 5:37 AM CDT

IMF: Global Recession Is Over

World economy is growing, but recovery will be slow

(Newser) - The global recession is over, the International Monetary Fund said today, revising its economic forecasts in response to Asian growth and more than $2 trillion in stimulus packages worldwide. The IMF now says the world economy is growing and will expand by 3.1% in 2010, with China growing at...

G20 Near Deal to Open Economies to Scrutiny

'Peer review' system will let nations assess each other's policies

(Newser) - The G20 is on the brink of a deal this morning that will require members to "peer review" one another's economic policies—a substantial shift that will expose the US and China to wider scrutiny from less wealthy countries. The new top table for international negotiation wants less American...

IMF Sees Global Economy Shrinking

(Newser) - The world economy is likely to shrink this year for the first time in 6 decades, says the International Monetary Fund in projecting a 1.3% drop in a dour forecast today. That could leave at least 10 million more people around the world jobless, some private economists said. "...

G20 Leaders Close to Deal
 G20 Leaders Close to Deal 
Apr 2, 2009 6:19 AM CDT

G20 Leaders Close to Deal

French, German demands for regulation are final sticking point

(Newser) - G20 leaders have nearly completed an agreement to confront the global financial crisis, reports the Times of London. Gordon Brown opened the summit by saying that the draft communique already prepared reflected "a high degree of consensus between us." The British PM said that the leaders needed to...

How the US Became a Banana Republic
 How the US Became 
 a Banana Republic 
GLOSSIES
Mar 30, 2009 2:51 PM CDT

How the US Became a Banana Republic

America is a textbook IMF case—but one without a solution

(Newser) - As chief economist at the International Monetary Fund, MIT professor Simon Johnson saw a pattern in bankrupted countries from Argentina to Indonesia: "The powerful elites within them overreached in good times and took too many risks." The current US crisis, Johnson writes in the Atlantic, is "shockingly...

China: Ditch the Dollar as World Standard

Central bank says IMF asset could be solution

(Newser) - Highlighting international anger over the sorry state of the US economy, China has called for the dollar to be dumped as the global currency standard, the Wall Street Journal reports. China’s central bank said an International Monetary Fund asset could take over the dollar’s global role, Reuters reports....

G-20 Vows to Spur Lending
 G-20 Vows to Spur Lending 
Mar 14, 2009 1:53 PM CDT

G-20 Vows to Spur Lending

(Newser) - The world's top financial officials promised a three-tiered approach to battling the global economic slowdown today, the Wall Street Journal reports. At the G-20 summit in England, finance ministers vowed to inject money into the IMF and other institutions to lend to struggling countries, while tackling banks' toxic assets and...

Geithner Urges G20 to Pump Up Global Economy

Treasury seeks billions to help IMF prop up struggling nations

(Newser) - Tim Geithner is calling on the other G20 nations to help the US get the global economy back on its feet, the Washington Post reports. The Treasury secretary, who leaves for a G20 summit tomorrow, said in a briefing yesterday the administration plans to ask Congress for another $100 billion...

Bombed-Out US Economy Blasts Globe Into Recession

Developing nations hit especially hard in first world recession since World War II

(Newser) - The world economy is plunging into its first global recession since World War II, and sending 46 million people in developing countries back into poverty, warns a World Bank report. The global lender is urging leading nations to pledge a portion of their stimulus packages to stem the mounting crisis...

IMF Bails Out Hungary, Ukraine
 IMF Bails Out Hungary, Ukraine 
Oct 27, 2008 8:47 AM CDT

IMF Bails Out Hungary, Ukraine

Multibillion-dollar loans prop up Eastern Europe's basket cases

(Newser) - The IMF will provide multibillion-dollar loans to Ukraine and Hungary, which have followed Iceland to become the latest national victims of the global financial crisis. Ukraine will receive a $16.5 billion loan, while the specifics of the Hungary deal are still being worked out. Both Eastern European countries have...

IMF Won't Punish Boss Over Affair

But 'serious error in judgment' sidetracked fund

(Newser) - The IMF’s governing board unanimously cleared its managing director of using his position to pursue an affair with a subordinate, the Wall Street Journal reports. Dominique Strauss-Kahn didn’t engage in “harassment, favoritism, or any other abuse of authority,” but his actions were “regrettable and reflected...

IMF Plans Huge Credit Line for Poor Nations

Wave of defaults in developing world could imperil global economy

(Newser) - While the financial crisis is leading the West into recession, other parts of the world from Hungary to Argentina face an even worse fate: default, market panic, and possibly social upheaval. Now the IMF is working to build a giant line of credit, funded by rich nations, to provide...

Amid Scandal, IMF Exec Wins Praise for Nimble Work

Strauss-Kahn's 'activist' economics suit crisis

(Newser) - Even as he faces a probe for misconduct, the head of the International Monetary Fund is being praised for a decisive response to the world financial crisis, Bloomberg reports. Europe’s chief banker says he’s “convinced the investigation will prove that Dominique Strauss-Kahn didn’t abuse power.”...

IMF Chief Probed Over Affair
 IMF Chief Probed Over Affair
Oct 18, 2008 9:51 AM CDT

IMF Chief Probed Over Affair

Investigation rattles key organization during financial crisis

(Newser) - In a shakeup amid the financial crisis, the International Monetary Fund is investigating whether its managing director abused his position in an affair with a subordinate, the Wall Street Journal reports. Backed by US and Russian representatives, Egypt’s rep to the IMF called for the probe into the relationship...

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