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  1. Business - Economy

    Crunch time for the US

    Posted Oct 09th 2013, 12:00am by Kevin Rafferty

    ... Kevin Rafferty Washington is too busy with a partisan budget battle to deal with its global responsibilities, like approving much-needed reforms at the IMF Crunch time for the US The US ... still waiting for the US to make good on plans that Obama promoted, and which were agreed on back in 2010, for an important revamp. It would double the funds available to the IMF in its ...

  2. IMF reform can fix Sino-US disputes

    Posted Apr 21st 2009, 12:00am by Kevin Rafferty

    ... manipulation is against the IMF rules of the game and it's undesirable'. Brad Setser of the Council on Foreign Relations agrees that 'this isn't the time to force the issue'. ... is able to evade the natural controls- and IMF supervision- that ordinary countries have to live with. It was a bad bargain for China, too, because it gave it a huge pile of dollar-denominated ...

  3. Strauss-Kahn's roving eye may prove his undoing

    Posted Oct 29th 2008, 12:00am by Kevin Rafferty

    ... that Washington has not seen for years. But now it seems that the other kind of twinkle in his eye- of the roving kind- may prove his and the IMF's undoing. It is the best of times and the worst of times for DSK (as Mr Strauss-Kahn is universally known) and for the fund. After years of inaction in which no one wanted its money and the IMF was laying off staff because it could not get ...

  4. Business - Economy

    Xi at the crossroads

    Posted Nov 06th 2013, 04:54am by Kevin Rafferty

    ... director of the IMF's Asia-Pacific department, believes that the third plenum offers an opportunity for China's new leaders. "China's economic challenges are growing and accelerating reform is critical for containing risks and achieving a smooth transition to sustainable growth," he wrote in his IMF blog last month. Now is a good time because recent fears around ...

  5. Business - Economy

    Broken world

    Posted Oct 16th 2013, 12:00am by Kevin Rafferty

    ... of a better one. They have to involve China. A couple of years ago, I would have said this was difficult because of Beijing's nationalism. But Zhu Min, the deputy managing director of the IMF, has shown an ability to understand the global dimension of issues. Will Britain, whose John Maynard Keynes was a founding father of the 1944 IMF and which has a profusion of economic thinkers, ...

  6. G20's promises prove to be hot air

    Posted May 05th 2009, 12:00am by Kevin Rafferty

    ... of a US$500 billion boost of the IMF's resources, to be used in emerging economies, plus a US$250 billion increase in the fund's special drawing rights. Neither deal was finalised in Washington. Plans to allow the IMF to sell some of its gold holdings and to use the US$5.2 billion in profits to help the world's poorest countries also failed to reach agreement. As it stands, ...

  7. G20 map may not lead out of woods

    Posted Apr 07th 2009, 12:00am by Kevin Rafferty

    ... was the IMF, which had been licking its wounds since the 1997 financial crisis, when its insistence on austerity sent Asian economies into a tailspin. In London, it was promised that its lending resources would be tripled to US$750 billion. But as IMF managing director Dominique Strauss-Kahn, said: 'I am not a banker.' The fund lends money if and when countries approach it to ask ...

  8. G30-something too diverse to succeed

    Posted Mar 31st 2009, 12:00am by Kevin Rafferty

    ... of the second world war that there has been a global contraction. The IMF is slightly less pessimistic, expecting only a 0.5 per cent contraction. But there are plenty of ominous signs. World trade, ... to the IMF and the World Bank; and what part the two should play in a reformed international financial system. The G20 boasts that its members account for 85 per cent of global output. In striving ...

  9. Twenty leaders, not one good idea

    Posted Nov 22nd 2008, 12:00am by Kevin Rafferty

    ... means more than just tinkering with the International Monetary Fund and World Bank. Remember that the 'great achievement' of Mr Brown's term as head of the key IMF committee was to allow China to creep up to 3.66 per cent shareholding in the IMF, against 16 per cent for the US and 6 per cent for Japan, more than 5 per cent for Germany and almost 5 per cent each for France ...

  10. Can Hu rescue Patten and China?

    Posted Oct 25th 2008, 12:00am by Kevin Rafferty

    ... been allowed to run huge current account deficits and fund them through foreign purchases of US debt (rather than take the same nasty economic medicine the IMF prescribed for errant developing ... from the G7 to the International Monetary Fund (IMF) and World Bank. The IMF and World Bank were set up 64 years ago after a conference at Bretton Woods in New Hampshire of 44 Allied countries ...




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