INTERNATIONAL MONETARY FUND

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Greece Can't Pay Its Debts: 'Troika'

Greece is not likely to be able to pay its debts, meaning the twice bailed-out member of the euro zone will have to restructure about $240 billion of sovereign debt, European Union officials told Reuters on Tuesday.
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Workers

Indian Economy to Grow at Slowest Pace in 10 Years: Poll

India's economy will grow at its slowest pace in a decade this fiscal year, with tight monetary policy, political gridlock and a weakening global economy prompting analysts to slash their forecasts, a Reuters poll showed on Thursday.
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Ireland To Spend $2.76B To Cut Joblessness, Boost Services

The Irish government will spend more than ?2.25 billion ($2.76 billion) on new infrastructure projects and to restart existing road, school and health care construction projects to create as many as 13,000 jobs without hiking debt, government officials said on Tuesday.
An investor checks stock information with a computer at a brokerage house in Hefei

Asian Stocks Rise On Stimulus Measure Hopes

Asian markets were rose Tuesday as investors continued to be hopeful that central banks all over the world would soon announce stimulus measures to tackle the weakening global economy.
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Asian Shares Flat As Investors Await Bernanke Testimony

Asian shares paused Tuesday as investors awaited Federal Reserve Chairman Ben Bernanke's view on the U.S. economy later in the day, after weak U.S. retail sales and a lower International Monetary Fund global growth forecast raised hopes of more stimulus from the Fed.
European Central Bank President Mario Draghi called for a euro zone "growth pact" the day before new indicators of poor economic sentiment were released by the European Commission.

Spanish Banks Could Get First Funds In $120 Billion Bailout This Month

One of the euro zone's two bailout funds could begin disbursing monies to Spain at the end of this month in a €100 billion ($120 billion) rescue of the country's embattled banks, according to an article by the Associated Press based on a story in the German newsweekly Der Spiegel on Saturday.
Greece and Europe

Greece And Europe Face A Summer Filled With Unpleasant Choices

This summer, both Greece and Europe are between a rock and a hard place. Greece faces the possible prospect of domestic coalition collapse, or ouster from the euro zone; Europe’s leaders, an elongated repayment for their loans to Greece, or a Greece default.
Residential Complex

India's Growth Downgraded; ADB Forecasts 6.5 Percent

The Asian Development Bank (ADB) cut its growth forecasts for developing Asia on Thursday, saying financial and economic problems in Europe and the United States had cut demand for exports, although Southeast Asia remained a bright spot. China's economy was expected to grow 8.2 percent this year and India's 6.5 percent, Kuroda said.
An employee seals a stack of yuan banknotes at a branch of Industrial and Commercial Bank of China in Huaibei

China Q2 GDP Growth Slows To 7.6%

China's gross domestic product growth slowed down in the second quarter to the lowest rate in three years, due to soft global demand official data released Friday show.
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Greek Prime Minister Pleads For More Time To Meet Bailout Terms

Greek Prime Minister Antonis Samaras requested on Friday that European Union (EU) and International Monetary Fund (IMF) creditors extend a ?237 billion bailout package for a grace period of two years to help the country survive its fifth year of recession.
BRICs IMF

Emerging Markets Lose Their Sparkle, IMF Says

Hopes that emerging markets will lead the world out of the global economic slowdown are beginning to dim.Christine Lagarde, managing director of the International Monetary Fund (IMF), voiced her concerns over the strength of the global economy, emphasizing that emerging markets, which currently account for two-thirds of global growth, were showing signs of weakening.
Japanese Bank Note

Japan Retail Sales Growth Slows Down In May

Japan?s retail sales growth slowed down in the year to May compared to April indicating that private consumption is getting affected by the faltering global economic conditions.
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Crude Oil Futures Hover Above $79 Ahead Of EU Summit

Crude oil futures slightly declined and hovered above $79 a barrel during Asian trading hours Wednesday as doubts over the ability of European leaders to address the debt crisis at a summit this week offset concerns over tightened North Sea supplies due to a strike in Norway.
Asian Shares

Asian Stock Markets Fall On Growth Fears

Asian stock markets mostly declined Monday as fears of a further global slowdown and economic headwinds from the euro zone continued to weigh on the sentiment.

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