Below you'll find a list of all posts that have been tagged as “International Monetary Fund”
US citizens constitute 5 percent of the world’s population but consume 24 percent of global energy. On average, one person in the US consumes as much energy as two Japanese, six Mexicans, 13 Chinese, 31 Indians, 128 Bangladeshis, 307 Tanzanians and 370 Ethiopians. The US is able to consume at such a level because the dollar serves as the world reserve currency. …
The annual spring meetings of the International Monetary Fund and World Bank held in Washington over the weekend comprised the treasurers and central bankers, together with financial experts and analysts, from all the major capitalist economies. However not a single proposal was advanced from this high-level meeting to alleviate, let alone resolve, the mounting problems besetting global capitalism. The reason …
World finance officials said Saturday they see a number of threats on the horizon for a global economy still clawing back from the deepest recession in seven decades, and a potential Greek debt default presents the most immediate risk. After finance officials wrapped up three days of talks, the International Monetary Fund’s policy committee set a goal of working toward …
The financial media as well as segments of the alternative media are pointing to a possible weakening of the US dollar as a global trading currency resulting from the BRICS (Brazil, Russia, India, China, South Africa) initiative. One of the central arguments in this debate on competing World currencies hinges on the BRICS initiative to create a development bank …
Germany owes Greece no less than €278.7 billion in World War II reparations, Athens said, referring to the destruction wrought upon the nation during the Nazi occupation. The sum exceeds Greece’s total debt of €240 billion to the EU. “According to our calculations, the debt linked to German reparations is €278.7 billion euros, including €10.3 billion for the so-called forced …
We seem to have finally arrived at some sort of moment of truth regarding Greece and their inclusion in the EU. The speculation is they will be out of money by April 9th, this Thursday, unable to make a less than 500 million euro payment. Please keep in mind they have already been raiding the country’s pension plans to fund day to day …
Two events occurred last week that mark a further phase in the waning of US global economic hegemony: China introduced its own Economic Development Bank, the ‘Asian Infrastructure Investment Bank’ (AIIB); the IMF simultaneously announced it will decide in May to include the Chinese currency as a global reserve-trading currency alongside the dollar, pound, and euro—an almost certainly ‘done deal’ …
In December, a multi-billion-dollar loan [variously stated as $3-$3.5 billion] to Ukraine comes due, which Ukraine had received from Russia. The IMF has provided a new debt plan, however, dictating that existing loans to Ukraine that have an expiration-date are to be subjected to a haircut. Thus, the resource gap of the country totaling $40 billion is to be reduced. Since the crisis, Ukraine …
Bibi Netanyahu’s election, persistent violence through much of the Middle East and North Africa, and intensified efforts to forge a nuclear deal between the P5+1 and Iran topped the news here in Washington this week. But a much bigger story in terms of the future order of global politics was taking place in Europe and Beijing. The story was simply …
Tens of thousands of people took to the streets of the Irish capital on Saturday to demand the abolition of a controversial water tax—an austerity measure that protesters say violates the human right to this vital good. The campaign Right2Water announced in a press statement on Saturday that over 80,000 people from across Ireland took part in the demonstration. The group, whose …
