The International Monetary Fund (IMF) is an international organization that oversees the global financial system by following the macroeconomic policies of its member countries, in particular those with an impact on exchange rates and the balance of payments. It is an organization formed with a stated objective of stabilizing international exchange rates and facilitating development. It also offers highly leveraged loans mainly to poorer countries. Its headquarters are located in Washington, D.C., United States.

Draghi: ECB Agrees Unlimited New Bond Program - OMT

European Central Bank President Mario Draghi said Thursday the “euro is irreversible” and announced a new bond-buying plan “Outright Monetary Transactions,” or OMTs, aimed at lowering the struggling euro zone countries’ borrowing costs which would serve as a “fully effective backstop.”

Egypt Seeks $4.8-Billion Loan From IMF

The Egyptian government Wednesday sought a $4.8-billion loan from the International Monetary Fund to help boost the country's economy struggling to recover from a political turmoil since last year's uprising that led to the fall of President Hosni Mubarak.

As Portugal’s Pain Deepens, Investors Reward Nation

Investors rewarded Portugal's efforts to trim its budget gap by sending the credit-default swaps on Portugal to a low of 725 basis points on Thursday, down from 1,515 in January and 1,237 in May, according to Bloomberg. The implied probability of Portugal defaulting on its debt fell to 46 percent from 73 percent.


A picture illustration shows Japanese 10,000 yen notes featuring a portrait of Yukichi Fukuzawa, the founding father of modern Japan, taken in Tokyo

Japan Retail Sales Growth Retards In May

Japan’s retail sales growth slowed down in June as compared to May, indicating that private consumption being affected by the faltering global economic conditions.

Spain: The Next Wave Of The Financial Crisis Arrives

The Spanish crisis, last week’s German vote, talk of a possible withholding of funds for Greece, and now the downgrading of the credit outlook for Europe’s strongest economies, point to a worsening of the financial crisis, a reduction in support for the euro, and a global economy increasing at risk.
Asian Shares

Asian Stock Market Advance On Easing Hopes

Asian stock markets advanced for the first time in five days on Thursday as disappointing U.S. housing data boosted hopes for further monetary stimulus from the Federal Reserve.
IBTimes Logo

IMF Welcomes Sudan Austerity But Urges More Reforms

Sudan must press ahead with reforms to ensure its economic stability, an International Monetary Fund mission said on Wednesday, while welcoming the country's recent moves including scaling back its fuel subsidies and devaluing its currency.