Sponsored by International Monetary Fund

The euro zone's debt crisis could substantially damage the U.S. economy if not contained, the Federal Reserve's No. 2 official warned on Friday as she urged bold action by Europe.

The International Monetary Fund on Friday warned that advanced economies could fall back into recession unless policy-makers move with greater urgency to agree on policies to boost growth.

Diplomatic deadlock is curbing China's will to provide cash to help end the euro zone crisis after Europe spurned the simplest of Beijing's three key demands, two independent sources have told Reuters.

Bollore plans to invest 18 billion CFA francs in Abidjan port by 2013 to make it the region's key sea hub, the French logistics and transport group's Africa chief said.

Nigeria plans to change the base year for its gross domestic product (GDP) to 2008 from 1990, a move that could lead to a huge jump in the estimated size of Africa's second biggest economy, the national statistics chief said on Thursday.

It is likely to take the combined forces of the European Central Bank, the IMF and the euro zone bailout fund to break Italy's financial fall, and it's far from clear that Europe's leaders are ready to take on that rescue mission.

The head of the International Monetary Fund urged Italy Thursday to act quickly fill its damaging political vacuum, and China said it was willing to help maintain global financial stability that was being threatened by the euro zone crisis.

The new interim government will be sworn in at 12:00 London time on Friday.

The head of the International Monetary Fund called on Thursday for political clarity in efforts to tackle the debt crisis that has gripped Italy, saying uncertainty around who would succeed Prime Minister Silvio Berlusconi was fuelling market volatility.

The head of the International Monetary Fund called on Thursday for political clarity in efforts to tackle the debt crisis that has gripped Italy, saying uncertainty around who would succeed Prime Minister Silvio Berlusconi was fuelling market volatility.

Political and economic crisis in Italy spurred fears of a split in the Eurozone with borrowing costs for Europe's third biggest economy at unsustainable levels and the bloc unable to afford a bailout.

Gold prices slipped modestly Wednesday as stock investors in Europe and the U.S. dumped their holdings and abandoned the euro in a global stampede to safety.

The talks have now dragged on for three fruitless days.

We have agreed on someone who will unite us, Papandreou reportedly said, without revealing his identity.

Negotiations between outgoing Prime Minister George Papandreou and opposition leaders, notably Antonis Samaras, have dragged on into the third day.

Italian borrowing costs reached breaking point on Wednesday after Prime Minister Silvio Berlusconi's promise to resign failed to raise optimism about the country's ability to deliver on long-promised economic reforms.

Italian borrowing costs reached the breaking point Wednesday after Prime Minister Silvio Berlusconi's promise to resign failed to raise optimism about the country's ability to deliver on long-promised economic reforms.

The head of the International Monetary Fund warned on Wednesday that Europe's debt crisis risked plunging the global economy into a lost decade and said it was up to rich nations to shoulder the burden of restoring growth and confidence.

I believe that we are now close to an agreement with [the opposition party] New Democracy, Papandreou said during a Cabinet meeting

International Business Times spoke to a Greek native for her personal view on the crisis.

Asian shares wiped earlier gains and fell anew Tuesday, weighed by concerns that surging bond yields could stifle debt-ridden Italy's fund-raising ability and throw the euro zone deeper into financial turmoil, while Greece struggled to pick a new leader.

International Monetary Fund chief Christine Lagarde has joined a growing panoply of Western luminaries and celebrities such as Bill Gates and actress Emma Watson on China's most popular microblogging platform, Weibo -- and received a warm response.

International Monetary Fund chief Christine Lagarde has joined a growing panoply of Western luminaries and celebrities such as Bill Gates and actress Emma Watson on China's most popular microblogging platform, Weibo -- and received a warm response.

Asian shares rose Tuesday, but gains were capped by concerns that surging bond yields could stifle debt-ridden Italy's fund-raising ability and throw the euro zone deeper into financial turmoil, while Greece struggled to pick a new leader.

Italian government bond yields soared to near 15-year highs, putting the Eurozone's third largest economy front and center of the region's debt crisis, despite scrambling efforts by policymakers to stem the growing contagion.

Gold and silver mining company stocks got a boost Monday from the rising price of their metals and a global resurgence of safe-haven investing.

Venizelos, a long-time rival of Papandreou, is believed to covet the job of Prime Minister.

Euro zone governments rushed to placate feverish bond markets on Monday as the 17-nation currency bloc's debt crisis threatened to accelerate out of control.

Germany Economy Minister Philipp Roesler said on Monday the country's gold reserves with the central bank cannot be touched, adding his voice to opposition to an idea reportedly discussed at the G20 summit of using reserves to boost euro zone bailout funds.