Search Results for: imf

Ukraine to receive $17.5b bailout package from the IMF

Christine Lagarde IMF

The International Monetary Fund and the Ukrainian government agreed on a $17.5 billion financial bailout package for Kiev, but the move is yet to be approved by the IMF Board. “I’m glad that the talks on are now over. We have reached a preliminary agreement on disbursing $17.5 billion for Ukraine. It’s a four-year program,” the Fund’s managing …

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Hungary throws out Monsanto and the IMF

Parliament_Building_Budapest_Hungary

I don’t know about you, but I would label my personal knowledge of Hungary as wanting, if not painfully incomplete. It’s not an easy country to come to grips with, not least of all of course because Hungarian doesn’t look like any western language we know with the possible exception …

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Ukraine’s National Bank receives another $1 billion from the IMF

Ukraine IMF International Monetary Fund

The fourth tranche of the International Monetary Fund credit of $1 billion to Ukraine has entered the reserve of the National Bank of Ukraine, Ukrainian Finance Minister Oleksandr Danyliuk said Wednesday. The IMF approved a four-year program of financial aid to Ukraine in March 2015. Kiev has already received three tranches of aid totalling …

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IMF approves Chinese yuan to rival US dollar on the global stage

International Chinese yuan IMF SDR

From Filip Karinja, for Birch Gold Group As we predicted it would happen, the International Monetary Fund (IMF) made a historic decision this week in international finance by adding the Chinese yuan into its basket of currencies that make up the global exchange unit known as the SDR. Created back in 1969, the SDR (Special …

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China moves one step closer to replacing the dollar

Obama wine China

From Filip Karinja, for Birch Gold Group The rise of China on the global economic stage got another boost this week. While discussing the potential that the Chinese renminbi (also known as the yuan) will be added to the IMF’s Special Drawing Right (SDR) basket of currencies, Christine Lagarde, the chief of the …

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BRICS to create alternative to IMF and World Bank

BRICS leaders

The BRICS countries (Brazil, Russia, India, China and South Africa) have made significant progress in setting up structures that would serve as an alternative to the IMF and the World Bank (which are dominated by the U.S. and the EU), according to RBTH. As WSJ reports, the U.S. would lose its veto power on …

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Central banker appointed as Prime Minister of Ukraine

Arseniy Yatsenyuk Ukraine

A reshuffled Ukrainian Parliament installed following a coup last week has voted to appoint Arseniy Yatsenyuk as the new prime minister of the country. Yats, as Victoria Nuland, the Assistant Secretary of State for European and Eurasian Affairs at the U.S. State Department, called him, is a natural choice. He is …

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Iceland sticks it to international bankers and writes off massive mortgage debt

Iceland

Iceland’s government has announced that it will be writing off up to 24,000 euros ($32,600) of every household’s mortgage, fulfilling its election promise, despite overwhelming criticism from international financial institutions. The measure was introduced by the country’s prime minister, Sigmundur David Gunnlaugsson, the leader of the Progressive Party which won …

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If Greece exits, here is what happens

Now that the Greek exit is back to being topic #1 of discussion, just as it was back in the fall of 2011, and the media has been flooded by groundless speculation posited by journalists who have never used excel in their lives and are merely paid mouthpieces of bigger bank interests …

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Saudi Arabia could be bankrupt by 2020 – IMF

Saudi Arabia Faisaliah Tower

The Middle East’s biggest economy, Saudi Arabia may run out of financial assets within the next five years if the government maintains its current policies, warns the International Monetary Fund. Saudi Arabia is expected to run a budget deficit of 21.6 percent in 2015 and 19.4 percent in 2016, according …

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IMF wants you to pay 71% income tax

IMF

The IMF just dropped another bombshell. After it recently suggested a “one-off capital levy” – a one-time tax on private wealth as an exceptional measure to restore debt sustainability across insolvent countries – it has now called for “revenue-maximizing top income tax rates”. The IMF’s team of monkeys has been …

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Thousands of Israelis protest against austerity measures

Tel Aviv protest

Thousands of Israelis have taken to the streets to protest against Tel Aviv’s austerity measures and to demand social justice. The demonstrators, who were angry with the high cost of living, blocked Ayalon Freeway in Tel Aviv late on Saturday. They chanted slogans against Israel’s Prime Minister Benjamin Netanyahu and …

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Australia, Japan gold reserves drop in November

Gold reserves

Australia and Japan witnessed marginal declines in gold reserves during November. Japan’s gold reserves dropped to gold reserves were at $42.46 billion in November while Australia’s gold reserves decreased to A$4.248 billion from A$4.253 billion. Total foreign reserves of both the nation also declined. Japanese official reserve assets totaled $1.2708 …

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BRICS nations plan new bank to bypass World Bank, IMF

BRICS countries

The biggest emerging markets are uniting to tackle under-development and currency volatility with plans to set up institutions that encroach on the roles of the World Bank and International Monetary Fund. The leaders of the so-called BRICS nations — Brazil, Russia, India, China and South Africa — are set to approve the establishment of a new …

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Police raid home of IMF boss Christine Lagarde over Tapie scandal

Christine Lagarde

Police have searched the Paris home of the head of the International Monetary Fund as part of a fraud investigation centred on a supporter of former president Nicolas Sarkozy. Christine Lagarde‘s flat was raided along with that of her office manager and the home of businessman Bernard Tapie, a former politician, …

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Obama stops NSA spying on IMF and World Bank

International Monetary Fund Headquarters

International Monetary Fund Headquarters in Washington, DC. US President Barack Obama has called on the National Security Agency to halt spying on the headquarters of the International Monetary Fund and World Bank in conjunction with a review of surveillance activities, Reuters reported. A US official told the news agency that …

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Ukraine’s gold reserves sent to NY Federal Reserve

Gold Ukraine

A curious story, and one which should be taken with a mine of salt, has surfaced out of the pro-Russian newspaper Iskra, which reports – so far on an entirely unsubstantiated basis – that last Friday, in a mysterious operation under the cover of night, Ukraine’s gold reserves were promptly loaded …

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Bank of Cyprus to cut 30% off deposits over €100,000

Cyprus banking crisis

Cypriots and foreigners wait in line to withdraw money from an ATM of a Laiki (Popular) Bank branch in the old city of the capital, Nicosia. Depositors in the Bank of Cyprus, the biggest bank on the island, will reportedly lose 30 percent on their holdings above 100,000 euros, the …

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