European finance ministers this week will try to protect their clout at the International Monetary Fund after the U.S. unexpectedly forced a debate on which countries sit on the institution’s board of directors.
India’s newly installed central bank Governor Raghuram Rajan burnished his international credentials at a 2005 U.S. conference warning about the danger of a potential crisis. Now he has one of his own to contend with.
Chinese banks have enough resources to deal with loans awarded to local government projects, said Eswar Prasad, a senior fellow at the Brookings Institution and a former head of the China division at the International Monetary Fund, in a Bloomberg television interview.
The International Monetary Fund turned to John Lipsky when it was ordered to develop an early- warning system to prevent a repeat of the 2008 financial meltdown. Now, the IMF is calling on him to guide it through its own crisis.
The World Bank, best known for helping developing nations from Kenya to Pakistan combat chronic poverty, is advising euro-area members Greece and Cyprus on how to strengthen their economies in the wake of debt crises.
Jacob J. Lew pivots to Europe, a region fraught with risks to the world economy, after making China his first overseas destination as Treasury secretary last month in a nod to the strongest engine of global growth.
Chinese banks’ valuations are close to their lowest on record as the nation’s interbank funding crisis exacerbated investors’ concern that earnings growth will stall and defaults may surge as the economy slows.