Global Financial Crisis – The Road to the Pittsburgh Summit
It may surprise readers to learn that this World Economic Outlook sees global economic risks as having declined since our last issue in September 2006. Certainly this is at odds with many recent...
View ArticlePoverty in the Southern Hemisphere
Despite the wondrous technological developments and global wealth generated since the start of the 19th century, billions of people continue to live in the direst conditions of poverty. One of the most...
View ArticleDebt Burden Continues to Cripple the South
Between 1970 and 2002, the continent of Africa received some US$540bn in loans. However, a United Nations Conference on Trade and Development (UNCTAD) study, Debt Sustainability: Oasis or Mirage?...
View ArticleIreland Confirms Billion-Euro Bailout Plea
Irish Prime Minister Brian Cowen confirmed Sunday that his country requested financial assistance, which has received the approval of European Union Finance Ministers as well as the IMF (International...
View ArticleGreece, the new failure of the IMF
By Raúl de Sagastizabal The new IMF failure, step by step Monday 8 March 2010. The IMF Director said that Greece does not need an IMF bailout. He believes Greece resolve its debt crisis without an IMF...
View ArticleWhat is Hot Money?
By Raul de Sagastizabal Hot money is the “purely speculative money,” which enters into an economy or an economic sector in order to earn a short-term and/or huge profit and leave quickly, as long as it...
View ArticleIMFs Forecast Mistakes are not Trivial
The storm that threatens the global economy has been raging ever since the toxic assets crisis started five long years ago. That crisis has not ended, or receded, but transformed into multiple crises:...
View ArticleThe IMF Cultures – Is time ripe to abandon the IMF?
By Raul de Sagastizabal Hedging behaviour, a high degree of groupthink, intellectual capture, a general mind-set that excludes contrary views, fiefdom battles, inadequate analytical approaches, and...
View ArticleEuro crisis: It is time for European debt restructuring. Will Europe dare to...
Euro-zone weights a new plan to face the crisis, which will be discussed during the Brussels European Summit, and for which Europe expects to receive support from their G-20 colleagues, in the next...
View ArticleArgentina: The vulture funds
In 2002, Anne Krueger, First Deputy Managing Director of the International Monetary Fund (IMF), floated the idea that countries can go bust, advanced her opinion about a possible international...
View ArticleIMF places Toxic Debt at $4 Trillion
The International Monetary Fund (IMF) could place toxic debt at $4 trillion by 2010, according to international media reports on Tuesday. The $4 trillion forecasted by the IMF, includes the...
View ArticleGlobal financial crisis and currency war
As one of the founders of the Bretton Woods institutions, Harry Dexter White once commented: “Currency warfare is the most destructive form of economic warfare. Economic warfare eventually brings war”....
View ArticleIMF: Economic crisis to cost $4 trillion
The IMF has calculated that global losses from the financial crisis could rise to $4 trillion. While some are already talking about recovery and others promoting “glimmers of hope”, the IMF warned that...
View ArticleWorld Bank: 50 million forced into extreme poverty
The World Bank on Sunday urged rich countries to hurry up with the delivery of the money they’ve pleded as well as give more, in order to help poor nations hit hard by the global economic crisis. An...
View ArticleGlobal financial crisis: How New will the New Multilateralism be?
It is safe to assume that many common people of yore might have believed – with typical end-of-tragedy romanticism, that postwar multilateral institutions heralded the advent of an era of understanding...
View ArticleTourism and travel industry set to contract in 2009
The global tourism and travel industry is set to contract in 2009, according to a new report by Euromonitor International entitled “The Forecast Restatement – Travel and Tourism in a Crisis” launched...
View ArticleWorld recession easing, sluggish recovery in sight, says IMF
The world is starting to pull out of its first recession since World War II, said the International Monetary Fund in its latest report released Wednesday. According to the latest report, the global...
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