Tag Archives: International monetary fund
Pakistan borrows from IMF to maintain debt obligation
The International Monetary Fund’s board approved a $6.7 billion loan package for Pakistan on Wednesday. In a statement, the monetary fund said the three-year loan program should help Pakistan rebuild its reserves and prevent a crisis in its balance of payments. http://www.nytimes.com/2013/09/05/world/asia/imf-approves-6-7-billion-loan-for-pakistan.html?ref=world Loans from the monetary fund generally come with conditions for economic changes and […]
IMF more powerful than EU countries
The I.M.F. has more say over crisis management than many euro zone members, and Christine Lagarde, the managing director, has become a quasi head of state, whose views carry more weight than those of many elected leaders. http://www.nytimes.com/2013/04/18/business/global/euro-zone-crisis-has-increased-imfs-power.html?ref=world More than half of the I.M.F.’s lending goes to the euro zone. Poorer nations that contribute to […]
Cypriot depositors to lose 60-75%
Savers at the Bank of Cyprus may be forced to accept losses on their deposits that exceed 60 percent in order to keep the stricken bank afloat. http://www.nytimes.com/2013/03/30/business/global/some-savers-in-cyprus-may-lose-60-percent.html?hp The more sizable haircut, coming soon after the imposition of tough capital controls, is the latest and perhaps most profound reminder of the financial punishment being visited […]
Dirty Babylon 