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IMF chief urges bold action in G7 crisis talks

Finance ministers from the world’s richest economies gathered Friday to work out how to head off gathering storm clouds, as the new IMF chief urged bold action on the sovereign debt crisis. After US President Barack Obama unveiled a $447 billion jobs plan to energise the world’s largest economy, finance…

World Bank chief believes U.S. will avoid recession

SINGAPORE — World Bank head Robert Zoellick said Tuesday he was confident the United States would not sink into another recession, despite widespread fears over the state of the world’s biggest economy. Zoellick’s comments come just days after official figures showed no jobs were created in the United States in…

IMF chief: Dollar status in doubt if debt crisis persists

WASHINGTON — IMF chief Christine Lagarde warned Thursday that failure to resolve the US debt crisis would likely raise “doubts” about the dollar’s status as the world’s prime reserve currency. “It would probably entail a decline of the dollar relative to other currencies, and probably doubts in the mind of…

Lawmakers head for showdown over debt plans

WASHINGTON (Reuters) - President Barack Obama’s Democrats and their Republican rivals on Tuesday headed for a showdown over competing debt plans one week before a deadline for averting a potentially disastrous U.S. default. With the two sides further apart than ever and the threat of a far-reaching U.S. credit downgrade looming, IMF chief Christine Lagarde urged…

IMF chief warns of global dangers of U.S. default

IMF chief Christine Lagarde warned Tuesday the clock was ticking on a US debt deal, as the dollar slid to new lows amid concerns of a looming and unprecedented default by the world’s top economy. President Barack Obama, in a solemn late night address to the nation, hit out at what…

IMF hit by sophisticated cyberattack: report

WASHINGTON (AFP) – The International Monetary Fund (IMF) was the target of a sophisticated cyberattack earlier this year, the New York Times reported Saturday, quoting senior officials at the world lender. The global financial institution — which has been spearheading the response to the eurozone crisis in recent months —…

French worker strike shuts down oil refineries, strangles airport fuel stocks

French workers poured onto the streets Saturday to defend their right to retire at 60, as rolling strikes shut down oil refineries and threatened to leave Paris airports without fuel. High school students bolstered nationwide protests against President Nicolas Sarkozy’s plan to increase the minimum retirement age to 62, and Finance…

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