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Ratings agency Moody's put Hungary on review for a possible downgrade on Friday, citing increased fiscal risks after it suspended talks with the IMF and EU on its existing $25 billion aid deal.

Hungary's prime minister signaled on Thursday that he would not renew a safety net with the IMF and would row back on a commitment to cut the budget deficit to European Union-prescribed levels next year.

Hungary's prime minister signalled on Thursday he would not renew a safety net with the IMF and would row back on a commitment to cut the budget deficit to European Union-prescribed levels next year. In the latest of a series of comments that have confounded markets, Viktor Orban said Hungary would meet this year's budget target under the International Monetary Fund-backed deal but the IMF safety net would end in October and the matter of negotiating a new one was insignificant.

Irish economy received little respite this week when the International Monetary Fund (IMF) said it is not too optimistic about the Ireland economy. And, this has come as a huge repite for the sliding gold prices on Thursday. With more and more bad economic news emanating from Europe, the gold prices have slowly started picking up the lost rhythm this week.

Hungary will negotiate with the European Union about next year's budget but will also continue talks with other international organisations including the IMF, the prime minister's spokesman said on Thursday. When it comes to planning next year's budget we will have to negotiate with the EU so with everybody in the right time, Peter Szijjarto told public television M1, reiterating comments made by Prime Minister Viktor Orban in Berlin on Wednesday.

The European Bank for Reconstruction and Development warned on Tuesday of contagion risk from a sell-off in Hungary as Budapest appeared unwilling to back down in a disagreement with lenders over fiscal reform and a bank tax.

The euro stayed below two-month highs versus the dollar on Monday, dented by a downgrade of Ireland and the suspension of talks between Hungary and the IMF, but recovered as traders awaited results of bank stress tests. Moody's Investors Service downgraded Ireland's sovereign bond rating to Aa2 with a stable outlook from Aa1.

The euro stayed below two-month highs versus the dollar on Monday, dented by a downgrade of Ireland and the suspension of talks between Hungary and the IMF, but steadied as traders awaited results of bank stress tests. Moody's Investors Service downgraded Ireland's sovereign bond ratings rating to Aa2 with a stable outlook from Aa1.

The International Monetary Fund wants to boost its lending resources to $1 trillion from $750 billion in order to prevent future financial crises, the Financial Times said on Monday.

The IMF and EU suspended on Saturday a review of Hungary's funding program, set up in 2008 to save the country from financial meltdown, saying it must take tough action to meet targets for cutting its budget deficit.

The IMF and EU suspended on Saturday a review of Hungary's funding program, set up in 2008 to save the country from financial meltdown, saying it must take tough action to meet targets for cutting its budget deficit.

A delegation from the International Monetary Fund will return to Washington after talks with Hungarian authorities as several issues remain open and Hungary needs to work out steps to meet its budget targets, the IMF said on Saturday.

Stress tests on European banks should not reveal any major problems among the big names, top officials said on Friday, saying the financial health check will be transparent and ease worries among investors.

The Slovak government approved the euro zone's emergency loan facility on Thursday, yielding to pressure from its European partners to drop its resistance. The euro area's poorest member, led by the new centre-right cabinet of Prime Minister Iveta Radicova, had been holding up the 750-billion euro European Financial Stability Facility (EFSF) after objections to bailouts became a campaign issue in the country's June election.

Greece passed its first borrowing test on Tuesday since a giant EU/IMF funding deal in May, sending bank stocks and the euro higher after it easily sold 1.625 billion euros ($2.03 billion) of 6-month T-bills. The debt-ridden country managed to get market funding at a slightly cheaper cost than the 5.0 percent it pays to borrow under the 110 billion euro loan that the European Union and International Monetary Fund put in place to calm a crisis that has shaken the euro zone.

Asia has emerged as a global economic powerhouse but is now faced with policy challenges from rising capital inflows, the International Monetary Fund chief said on Monday.

Asia has emerged as a global economic powerhouse but is faced with policy challenges from rising capital inflows and needs to watch out for possible shocks from Europe, the IMF's chief said on Monday.

Ukraine's parliament on Thursday approved budget cuts bringing the deficit in line with the International Monetary Fund's requirements after brief resistance from the Communist allies of the government.

High unemployment and a moribund housing market have increased risks to the U.S. economic recovery, while the public debt looms large and needs to be cut, the International Monetary Fund said on Thursday.

High unemployment and a moribund housing market are constraining the U.S. economic recovery, while the public debt looms large on the horizon and needs to be addressed, the International Monetary Fund said on Thursday.

The International Monetary Fund upgraded its 2010 global growth forecast on Thursday, citing robust expansion in Asia and renewed U.S. private demand, but warned the euro area's debt crisis posed a big risk to recovery.

Gold demand in India is all set to soar in the coming months as the International Monetary Fund has predicted a very high 9.5 per cent growth for the country in 2010.

The International Monetary Fund upgraded its 2010 global growth forecast on Thursday, citing robust expansion in Asia and renewed U.S. private demand, but warned the euro area's debt crisis posed a big risk to recovery.

Those who are skeptical about buying gold considering its high prices may have to wait forever as the yellow metal is set to cross the $1,300 per ounce mark in the second half of 2010. Consumers, especially in India, have been waiting for gold prices to come down to make purchases. But, according to market analysts, gold prices are set to cross the $1,300 level in the coming months.

The International Monetary Fund upgraded its 2010 global growth forecast on Thursday on the back of robust expansion in Asia and renewed U.S. private demand, but warned the euro area's debt crisis posed a big risk to recovery.

When Reserve Bank of India bought 200 tonnes of International Monetary Fund (IMF) gold in November last year, the bullion market received one of the biggest boosts ever and the gold prices soared in the subsequent weeks to new record heights. Reason for this was that all central banks across the globe have been increasing their gold holdings fearing the recession looming large over the world.

Economic reforms intended to pull Greece out of recession and help it resolve a sovereign debt crisis are broadly on track, despite some slippage, the European Commission said.

Greece is confident it will meet its target to cut the budget deficit by 40 percent to 8.1 percent of economic output this year but risks remain on revenue growth targets, its Finance Minister said on Monday.

Greece is confident it will meet its target to cut the budget deficit by 40 percent to 8.1 percent of economic output this year but risks remain on revenue growth targets, its Finance Minister said on Monday.