The International Monetary Fund (IMF) concluded the 2008-2009 fiscal year with a profit of 126 million dollars, as the global economic crisis has increased demand for fund loans, after a year before it had lost 89 million dollars.
IMF announced that the financial situation has improved significantly due to higher demand for loans from Member States, [...]
The Chinese economy will grow this year by 7.2%, estimates the World Bank (WB) in its most recent quarterly forecast. In March, the World Bank estimate for China was 6.5%.
The change of forecast is a consequence of economic stimulation program of the Government in Beijing, of 585 billion dollars (418 billion U.S. dollars) grant [...]
Emerging countries will grow faster compared with those of developed nations after emerging from the world economic crisis, and banks that have operations in these markets will benefit from of a number of advantages, according to the head of a group that owns Renaissance Capital, the largest investment bank in Russia, writes The Guardian.
“If we [...]
Company bankruptcies in Hungary have reached epidemic proportions. Even though faced with a large number of bankruptcies and a severe decline in the local car market, investors continue to buy Hungary’s state bonds.
Difficult situation in which is Hungary’s economy, affected by a severe recession, made that the number of companies from the position of [...]
The noted economist James Galbraith said that the European Union is hampered by an inability to manage the crisis that hit the states of Eastern Europe.
“Hungary had to accept a loan from the International Monetary Fund, while it should have been helped by Europe. It’s a big problem for the European institutions”, the analyst noted.
At [...]
The global economy will return to growth starting next year, said deputy director of the International Monetary Fund (IMF), John Lipsky, quoted by Bloomberg.
“Our outlook on the global economy suggests a return to economic expansion in 2010”; said Lipsky. “However, the return will be much more slowly than in previous periods of recession “the IMF [...]
The EU economy has reached its lowest point, and recovery could begin next year, according to the Finance Ministers of the Member States, who met in Brussels. The ministers agreed that it is necessary to return to fiscal discipline once the economy starts to grow again.
Finance ministers of the euro area were agreed with [...]
The president of the European Central Bank (ECB), Jean-Claude Trichet, has estimated that the rest of 2009 will be “less difficult”; than the first quarter, from an economic point of view, and that boosting the economy will start during next year.
“The following quarters will be less difficult than the first, although, overall, this year will [...]
The G20 summit decided yesterday in London on a considerable increase of international resources to financial institutions to combat the recession, establishing what the British Prime Minister Gordon Brown called the appearance of “a new world order”.
Leaders of the main economy’s met to “face the greatest challenges in the world economy occurred in modern times”, [...]
Presenting economic forecasts for its member states in Berlin, the OECD predicted that significant growth in GDP would only start in the second half of 2010.
On the background of economic crisis, experts expect the possible increase of unemployment in the OECD area up to 8 million people. Current recession, which affects many Member States [...]
