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.
World Bank President Jim Yong Kim said two senior executives will leave and others will get new responsibilities, part of a management shakeup 13 months after he took over the institution as he prepares a new global poverty-reduction strategy.
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.
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.
Fresh from yet another meeting in Brussels on Europe’s debt crisis, International Monetary Fund Managing Director Christine Lagarde today kicked off a three- country tour of Southeast Asia, which is thriving after emerging from turmoil more than a decade ago.
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.
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.
World Bank President Jim Yong Kim is preparing an overhaul of the lender’s budget that he says could lead to “massive shifts” in funding to reflect changing priorities under his goal of ending extreme poverty by 2030.
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.