Global Financial Crisis – International

SINGAPORE: The International Monetary Fund (IMF) on Wednesday sharply slashed its growth outlook for Asia, predicting a “long and severe recession” for the region’s wealthier but export-reliant economies.

WASHINGTON (AP) — Evidence that housing is poised to improve and optimism about the results of banking “stress tests” raised hopes Monday, May 4, that the recession is easing.

The head of the US central bank, Ben Bernanke, has said he expects the recession to end this year unless there is a major financial setback.

NUSA DUA (AFP) – The Asian Development Bank (ADB) called Monday for a fundamental “rebalancing” of regional economies in response to the global crisis, while predicting a “mild recovery” next year.

EU economies will contract by 4% in 2009, the European Commission has forecast – more than twice what it predicted at the start of the year.

NUSA DUA, Indonesia – The Asian Development Bank (ADB) will boost lending to the region’s poorest nations by more than $10 billion over two years, warning Saturday that the global economic crisis is jeopardizing the UN’s goal to halve poverty by 2020.

To understand the rally, recognize that the GDP statistics you are reading are already out of date.

Ending the crisis and transforming the global economy Brussels, (ITUC OnLine): The world is facing its gravest economic crisis in over 60 years.  Tens of millions of jobs are being lost due to the greed, plunder and incompetence which have, through decades of free market deregulation, led the world into deep recession.

Much policy advice has been given to facilitate global finance, trade and investments to connect with the global economy. But much less to reinforce local communities and local markets where people live and want to stay if given the opportunity. Strengthening local communities in developing countries is also a means to help those who will…

Amid worst economic crisis since Great Depression   WASHINGTON: The IMF and World Bank have warned the global economic crisis is turning into a “human calamity” and called on members to speed up pledged aid and give even more to help the most vulnerable.

WASHINGTON, D.C.: The International Monetary Fund (IMF) on Saturday said it had forged agreement on the stimulus measures taken to combat the global financial crisis and the need to clean up bad assets weighing on banks.

THE Wall Street meltdown is so intense—and reflects such gross irresponsibility by leaders in the highest places—that it has set people questioning capitalism’s very reasons for being. The global crisis has brought to a head the debate between America’s “take-no-prisoners” capitalism and the European “social market economy” espoused principally by the Germans.

WASHINGTON — Finance chiefs from the G7 powers said on Friday the global economy may be past the worst phase of a recession although recovery was not yet assured, and they pledged to make sure that big financial firms are sound.

WASHINGTON, D.C.: The International Monetary Fund (IMF) on Wednesday forecast a severe global contraction this year, sharply downgrading its already bleak outlook from earlier this year.

Why does the ILO promote cooperatives? Hagen Henry: The ILO views cooperatives as important in improving the living and working conditions of women and men globally as well as making essential infrastructure and services available even in areas neglected by the state and investor-driven enterprises. Moreover, values that are at the heart of the cooperative…

WASHINGTON (AFP) – The International Monetary Fund Tuesday raised its estimate of losses from the global financial and economic crisis to more than four trillion dollars due to writedowns on soured credit.

The global economy is set to decline by 1.3% in 2009, in the first global recession since World War II, the International Monetary Fund (IMF) says.

The World Bank said Tuesday it would triple its social safety net investments to 12 billion dollars over the next two years to help developing nations weather the global financial crisis.

NASHVILLE, Tenn (Reuters) – Top U.S. officials on Saturday offered reassurances that the worst of the economic downturn is likely over, helped by unprecedented efforts to keep credit flowing, though the recovery will be slow.

NEW YORK (Reuters) – The Federal Reserve allowed the global credit crisis to happen and must be redrawn as a tough regulator to stop big financial institutions from taking excessive risks, prominent Wall Street economist Henry Kaufman said on Friday.

WASHINGTON — The International Monetary Fund on Thursday forecast a prolonged, deep global recession in a crisis “nobody is escaping,” with recovery slow and difficult.

WASHINGTON (AFP) — The US recession has deepened, the Federal Reserve said Wednesday, as fresh data showed industrial output slumped to a decade low in March and annual inflation fell for the first time in 54 years.

WASHINGTON — The International Monetary Fund on Thursday forecast a prolonged, deep global recession in a crisis “nobody is escaping,” with recovery slow and difficult.

PARIS (AFP) — These are dangerous times: suicide rates go up in the spring and during an economic downturn, an analysis of suicide trends published Friday shows.

WASHINGTON – The recession is easing? Not so fast. An unexpected drop in sales of just about everything from cars to clothes sent a sobering message Tuesday: The economy is still vulnerable.

Remittances from migrant Filipino workers grew 4.9 percent in February to $1.32 billion year-on-year, as job layoffs slowed down and deployment increased, the Bangko Sentral said yesterday.

Intel reported a steep decline on Tuesday in first-quarter net profit but the head of the world’s biggest computer chip-maker said he believed personal computer sales had “bottomed out.”

GIVEN the severity of the global economic downturn, remittances from overseas Filipino workers (OFWs) may fall by 10 percent to 20 percent this year even if many of them are in recession-proof sectors and in countries that are unlikely to plunge into recession, according to Moody’s Investors Service.

PATTAYA (AFP) – The dramatic cancellation of an Asian summit after rampaging Thai protesters stormed the venue has set back a regional effort to tackle the global economic crisis, analysts said.

WASHINGTON, D.C.: President Barack Obama sees “glimmers of hope” of economic revival and Federal Reserve chief Ben Bernanke detects “green shoots” of recovery, but amid the guarded optimism are concerns whether the United States can lead the world out of recession.