Former IMF Chief Dominique Strauss-Kahn is being interrogated in a gangrape case dating back to 2010. ...
02:17 PM, May 22, 2012
Brussels: Euro zone finance ministers dismissed talk of Greece leaving the euro zone as "propaganda and nonsense" on Monday, but said the country had to respect the terms of the bailout programme agreed with the EU and the International Monetary Fund. If Greece can form a government and that government signs up to the bailout agreement, then it is possible some of the targets in the programme could be softened,...
07:32 AM, May 15, 2012
New York: A hotel maid's sexual assault lawsuit against Dominique Strauss-Kahn can go forward to trial, a judge ruled on Tuesday, rebuffing the former International Monetary Fund leader's diplomatic-immunity claim. Bronx state Supreme Court Justice Douglas McKeon's ruling kept alive the civil case that emerged from a May 2011 hotel-room encounter that also spurred now-dismissed criminal charges against Strauss-Kahn, then a French presidential hopeful. The episode was the first in...
08:14 PM, May 01, 2012
Washington: The International Monetary Fund has almost doubled its "fire power" to protect the world economy against deepening debt turmoil in Europe with the Group of 20 nations, including India, pledging $430 billion in new funding. The new commitments to the global lender from the world's largest economies to guard against global risks were announced on Friday after a meeting of Group of 20 finance ministers and central bankers gathered...
08:56 AM, Apr 21, 2012
Washington: The International Monetary Fund's bid to win a big boost in funding to handle the eurozone debt crisis hit a speed bump on Thursday when Brazil demanded more power at the IMF for emerging economies as a condition for lending it extra cash. Brazilian Finance Minister Guido Mantega laid out the terms for a deal after a meeting with fellow BRICS nations Russia, India, China and South Africa. "We...
12:37 PM, Apr 20, 2012
Davos: International Monetary Fund (IMF) chief Christine Lagarde will visit India in March. After meeting Lagarde on the sidelines of the World Economic Forum (WEF) annual meeting here, Commerce and Industry Minister Anand Sharma told reporters, "We had free exchange of views and we have known each other for a long time. When she comes to India in March, we will take forward the talks." The IMF is playing a...
09:30 PM, Jan 28, 2012
Davos: China is keeping its currency below its fair value and it represents a "formidable challenge" to the global trading system, US Treasury Secretary Timothy Geithner said on Friday. Sharply criticising the Communist giant's state-led economic system, Geithner said, "China does represent a really unique and formidable challenge to the global trading system because the structure of its economy... is overwhelmingly dominated by the state." Chinese trade practices, including subsidies...
09:11 PM, Jan 27, 2012
Washington: Europe's debt crisis could tip the world economy into recession and a bigger firewall is urgently needed to keep the damage from spreading, the International Monetary Fund said. The IMF chopped its estimate for 2012 global growth to 3.3 percent from 4 percent just three months ago and warned it could drop as low as 1.3 percent if Europe lets the crisis fester for much longer. For 2013, it...
10:07 AM, Jan 25, 2012
Speaking at the US State Department Christiane Lagarde speaking on escalating euro zone crisis also called for collective action. ...
08:27 AM, Dec 16, 2011
Washington: No country is immune from an "escalating" euro zone crisis and each one must act to head off the risk of a global depression, the head of the International Monetary Fund said on Thursday. IMF Managing Director Christine Lagarde, speaking at the US State Department, said the outlook for the world economy is "quite gloomy" and warned that failure to act collectively could lead to protectionism and isolation reminiscent...
07:59 AM, Dec 16, 2011
"There comes a tide in the affairs of men," Shakespeare cautioned. Tsunami warnings are now ringing about the global economy. The global financial system is under stress. Economic growth is stumbling. Confidence in governments is decreasing everywhere. Multilateral institutions like the WTO (World Trade Organization) and IMF (International Monetary Fund), created to promote global integration and stability, are ineffective. Communism was declared dead with the fall of the Berlin Wall....
11:14 AM, Nov 18, 2011
Tokyo: Asia clearly continues to drive global economic recovery, but if strains in the euro zone worsen the region will be negatively affected via trade and financial sector links, International Monetary Fund chief Christine Lagarde said on Saturday. Lagarde was speaking at a news conference after a meeting with Japanese Finance Minister Jun Azumi. Before arriving in Tokyo, Lagarde visited Moscow and Beijing, in a bid to convince the emerging...
08:44 AM, Nov 12, 2011
Athens: Greek lawmakers have granted initial approval to a new austerity bill whose spending cuts and tax hikes have sparked fury on the streets of Athens. The bill received a 154-141 vote late on Wednesday. A second vote on the bill's articles will be held on Thursday in the 300-member Parliament. Only after that vote will the bill have passed. Before the vote, riots broke out in central Athens during...
12:23 AM, Oct 20, 2011
New York: Former IMF chief Dominique Strauss-Kahn asked a judge on Monday to dismiss a civil suit filed by a hotel maid who accused him of sexual assault, saying he was immune from such a suit under international law when it was filed. His lawyers filed a motion to dismiss the suit in a New York state court in the Bronx on Monday. A grand jury had indicted Strauss-Kahn, the...
02:31 AM, Sep 27, 2011
Paris: France's Socialists are distancing themselves from Dominique Strauss-Kahn as the ex-IMF chief, once their best-placed presidential contender but now dogged by sex assault accusations, prepares to return from the United States. With elections eight months away, the main opposition party is torn between old loyalties and the desire to shield itself from Strauss-Kahn's tarnished reputation, after a poll showed two thirds of French voters do not want him in...
07:17 AM, Sep 02, 2011
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