IMF

Data on Thursday showed that exports and imports in China are sinking thanks to falling demand caused by the economic troubles in Europe and the U.S. According to the Montreal Gazette, China's manufacturing sector will be less than delighted to hear this, as it employs hundreds of millions of...

Much of Greece has been shut down for the second day in a row as Greek citizens protest against an upcoming parliamentary vote on yet another round of austerity measures. Passage of the latest round of austerity measures being debated in parliament is necessary in order for the Greek government to...

This morning we got an announcement from the "troika" that Greece would get the €8 billion ($11 billion) in aid it was promised under the first Greek bailout in 2010, with the payment likely coming in November. Despite getting the payment issue all but settled, the troika, which includes the...

Hernando de Soto is an extremely interesting Peruvian economist who is simultaneously deeply conservative and highly innovative. He published a column in the Washington Post on October 7, 2011 entitled “The Cost of Financial Ignorance” that caused me to reexamine “The Washington Consensus” [TWC...

The euro dropped to an 8-month low against the American dollar, as concerns over Greece's ability to pay its debts continued to put pressure on the eurozone currency. European stock markets were also down during Monday trading as investors worried about the effect that a Greek default would have on...

Moody's Investors Service downgraded 8 Greek banks on Friday, citing the banks' exposure to Greek government bonds and a worsening Greek economy. Earlier this year, all of Greece's major banks agreed to a government bond swap that resulted in them reporting billions of euros in losses, which hurt...

The Capitol of Greece was brought to a standstill on Thursday as thousands of public transport workers went on strike in protest of the latest round of austerity measures that are aimed at convincing Greece's international creditors that the country is serious about reducing its fiscal deficits....

The International Monetary Fund (IMF) gave a grim outlook for the global economy in its most recent World Economic Outlook report. According to the IMF, “financial volatility has again increased drastically, driven by concerns about developments in the euro area and the strength of global activity...

It was reported on Tuesday morning that the state-run Bank of China has halted FOREX swaps with several top European banks. The banks included Societe Generale and Credit Agricole, which were downgraded by Moody's Investors Service last week, and BNP Paribas, which Moody's said it will need more...

“The kinds of measures they've taken are stopgap, and [akin to] repainting the deck chairs on the Titanic,” says former IMF chief economist Simon Johnson. Johnson, who spoke to Benzinga during a recent interview, says that Bank of America (NYSE: BAC) “has become too big to manage.” That is just...

According to the Wall Street Journal, Greece's creditors are expected to release another tranche of money to the debt-ridden country, after the country announced additional taxes to cover a €2 billion shortfall in revenues. You know what? It does not matter. Greece is going to fail soon anyway...

During a speech made before Germany's Parliament, German Finance Minister Wolfgang Schaeuble warned that Greece must meet all the conditions that it previously agreed to in order to receive the next round of funds from its rescue package. Greece is having problems sticking to the austerity...

House and Senate panels disagreed whether to include funding for retraining workers who have been hurt by globalization. The IMF is expected to approve sending just over 3 billion euros to Greece in order to help it pay its debts. President Barack Obama and congressional leaders will meet over...

The case against former IMF chief and once likely leading French Presidential candidate Dominique Strauss-Kahn appears to be falling apart on Friday. Investigators working for the prosecution are now saying that they have uncovered serious holes in the credibility of the accuser in the case....

The focus of the Dominique Strauss-Kahn case has shifted dramatically to question the credibility of the maid accusing the former head of the IMF of rape. Questions are being raised because the 32-year-old maid apparently lied more than once during the investigation to date, and she has ties to a...