Tag Archives: World Bank
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 head accused of financial misdealing
Christine Lagarde, the head of the International Monetary Fund, will soon learn if she must face a full criminal investigation over her role in a contentious financial deal that dates back to her time as French finance minister. http://www.nytimes.com/2013/05/23/business/global/lagarde-to-appear-in-french-court.html Ms. Lagarde, Nicolas Sarkozy’s finance minister from 2007 to 2011, allowed a court case to go […]
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 […]
Austerity seizes depositor accounts
European officials in Brussels required that part of a new €10 billion bailout be paid for directly from the bank accounts of ordinary savers. http://www.nytimes.com/2013/03/18/business/global/facing-bailout-tax-cypriots-rush-to-get-their-money-out-of-banks.html?ref=world A move that could set off new fears of contagion across the euro zone as anxious depositors drained cash from automated teller machines in Cyprus over the weekend. “This is […]
Dirty Babylon 