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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 —…

IMF reforms to double capital, give China, India more power

The International Monetary Fund has decided to double its capital and adopted other reforms that will give China and other emerging-market economies a greater say in the financial institution. The IMF executive board agreed to sweeping changes on Friday, ahead of next week’s G20 summit in Seoul, expected to be…

Democrats fund own House defectors while ignoring loyalists

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‘Not enough money in world’ to pay every spill claim: oil fund czar

The prominent US lawyer managing BP’s 20-billion-dollar oil disaster fund said Wednesday not all claimants will be paid, especially some of those seeking compensation for falling houses prices. “There’s not enough money in the world to pay every single small business that claims injury no matter where or when,” Kenneth…

IMF chief pushes for more power, new global currency

The International Monetary Fund wants more power to police the global financial system and a bigger role in emergency financing, managing director Dominique Strauss-Kahn said Friday. In a speech to the Bretton Woods Committee, a finance reform think tank in Washington, D.C., he claimed that a stronger IMF also warrants…

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