With the ECB freezing the level of emergency liquidity assistance it is providing to Greek banks, the nightmare scenario for Greece is already beginning to unfold.
A call to break with the leadership of Greece's ruling party has highlighted the futility of debt-led austerity and the burden it places on people on the wrong side of a banker's bad bet.
Ngozi Okonjo-Iweala gave voice to sub-Saharan Africa on global monetary institutions.
Reuters/Afolabi Sotunde
The expected departure of Ngozi Okonjo-Iweala as Nigeria's finance minister will leave Nigeria and sub-Saharan Africa without a significant voice in the IMF and World Bank.
Large movements in relative prices will create winners and losers this year, the IMF has said.
EPA/MICHAEL REYNOLDS
Helen Westerman, The Conversation and Sunanda Creagh, The Conversation
A new IMF report predicts a crackdown on cheap credit in China will help reduce China's real GDP growth rate from 7.4% last year to 6.8% this year and further weaken demand for Australian commodities.
A clerk counts Chinese 100 yuan banknotes at a bank in Nantong, Jiangsu province.
REUTERS/China Daily
A year after the Maidan revolution of 2014, Ukraine is at a critical juncture. The conflict with Russia has been escalating. Estimates of casualties exceed 5,000, with some reports putting the number at…
Pensioners protest in Nicosia.
Katia Christodoulou/EPA
The nightmare for Cyprus started in March 2013. The country’s banking sector faced a sudden squeeze. The two biggest players – Bank of Cyprus and Marfin Laiki Bank – were in danger of a collapse which…
This week we have witnessed a plunge in the price of oil and the astonishing demise of the ruble. These events provide the basis for a great series of conspiracy theories, the type that readily find an…
United on the need for stronger economic growth.
Lukas Coch/AAP
The G20 leaders have reaffirmed a commitment to raise global growth, saying if more than 800 agreed measures are “fully implemented”, GDP will grow by an additional 2.1% by 2018, adding more than US$2…
China’s President Xi Jinping, pictured gesturing at center, last month launched the Asian Infrastructure Investment Bank, a project the US hopes to stymie.
Reuters
In an influential speech in 2005, then-US deputy secretary of state Robert Zoellick called on China to become a “responsible stakeholder” in the international community. To optimists, China’s recent efforts…
A carrier’s liability for damage, loss or delay of baggage is governed by a number of overarching international treaties.
Adam Fagen
If you get on a plane and your baggage ends up being delayed, damaged or lost, who’s responsible: you or the airline? And what rules apply when you’re flying between different countries – even if you don’t…
The long and slow-stunted recovery of the eurozone economies is a major source of concern for the IMF and international bankers. Six years after the collapse of Lehman Brothers signalled the onset of the…
Failing to communicate change.
Facundo Arrizabalaga/PA Wire
There are mixed messages from the International Monetary Fund. The UK gets a pat on the back for its recovery, but the fund warns of darker clouds ahead in its latest World Economic Outlook. Overall, the…
To have one leader investigated for serious misconduct may be regarded as misfortune; to have two come under investigation looks like carelessness. But the International Monetary Fund finds itself in that…
Fears Australia may be hammered in China’s attempts to rebalance its economy, might be overstated.
Image sourced from www.shutterstock.com
China’s leaders have been vocal in their support of a new growth model, one where consumption leads the way. Economic commentators fret about what this means for Australia. One view is that economic pain…
Could history one day judge the latest BRICS summit as significant as the Bretton Woods conference of 1944? That is the hope of leaders from Brazil, Russia, India, China, and South Africa as they meet…