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| World Economy - News |
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Debt relief progress under the spotlight
It is now routine for big economic summits - this time the International Monetary Fund-World Bank annual meetings in Prague - to pass with no progress announced on the heavily indebted poor countries' (HIPC) debt relief initiative....more | |
A jamboree just made for protests and protocol
Anti-globalisation protests, such as those that hit the annual meetings of the International Monetary Fund and World Bank this week in Prague, have increased the premium on out-of-the-way locations for international conferences....more | |
Police halt violent march on conference
Prague experienced its worst rioting since the return of democracy yesterday when police stopped demonstrators reaching the conference hall where the IMF and World Bank were holding their annual meeting....more | |
G24 coalition bristles at IMF demands
A coalition of developing and emerging market countries has attacked the idea that they should be compelled to adhere to international standards of fiscal and monetary policy....more | |
Policymakers urge focus on core activities
The World Bank must concentrate its activities to avoid over-reaching itself and duplicating other agencies' work, according to the international committee of government ministers which sets the bank's policy....more | |
US presses IMF on loans role
The US further pushed its campaign on Sunday to reduce borrowings from the International Monetary Fund by governments with access to private capital....more | |
Buoyant outlook for emerging markets
Net private capital flows into the main emerging market economies are set to rise this year to their highest level since the 1997 Asian crisis, buoyed by a surge in portfolio investment....more | |
High oil prices will hit developing nations
Oil prices at current levels would wipe a percentage point off expected growth rates in developing countries next year, and the impact could be made worse by moves towards lower energy taxes in rich countries, World Bank officials said on Thursday....more | |
US backs larger World Bank
The US on Wednesday called for the World Bank to enlarge its capacity to lend during financial crises, a role the bank has often resisted. Larry Summers, US treasury secretary, also urged that the International Monetary Fund and World Bank stop so-called defensive lending - making of new loans to ensure past lending is repaid. | |
World Bank criticised over independence of new portal
A coalition of development experts, academics and aid agency workers has publicly criticised a new internet initiative to be launched by the World Bank, questioning its independence and accusing the bank of failing adequately to consult. | |
US-European euro intervention 'unlikely'
Ernst Welteke, the Bundesbank president, said on Monday the world's seven leading industrialised countries would discuss exchange rate developments next weekend, but indicated that co-ordinated US-European intervention in support of the euro was unlikely. | |
Debt campaign stepped up
Development campaigners will on Monday step up their pressure on the International Monetary Fund and World Bank to expand the high-profile international debt relief initiative for the poorest countries, describing the current programme as flawed and inadequate. | |
World Bank broadens approach to ending poverty
Poverty reduction in developing countries requires reducing inequality and protecting vulnerable groups as well as promoting economic growth, according to an influential report published on Tuesday by the World Bank. | |
IMF 'should give poor countries bigger voice'
Trevor Manuel, South Africa's finance minister who this year chairs the boards of governors of the International Monetary Fund and the World Bank, will seek to accelerate reform of the two institutions at their annual meeting in Prague next week. | |
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