Posts Tagged ‘IMF’
To harness the worldwide economic downturn, the world’s biggest economies have reached quite near to a deal.
IMF that provides aid to ailing economies will get up to $500bn more funds from the world’s largest economies.
According to BBC business editor Robert Peston, a deal to name and shame those countries that are breaching global free trade rules may also be signed.
It is also expected that banking regulation to be tightened as well as measures may also be taken on bankers and tax heavens pay.
In its latest world economic outlook report, the International Monetary Fund (IMF) says that if the financial crisis continues, the economic downturn in many countries will worsen. The report comes before IMF-World Bank meeting in the US this week.
The signs of a marked slowdown in growth are quite obvious in the global economy and there is a dire need to develop a decisive policy to restore financial confidence.
According to the report, the turmoil that is confined to the financial sector now is likely to spread. It estimates that the financial losses from the credit crisis will be around $1.4 trillion while in an earlier estimate the amount of financial losses was around $1 trillion. Read the rest of this entry
