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US budget deficit threatens recovery, say IMF and OECD

The US government's budget deficit came under fire on Wednesday from two global institutions saying a plan to halve the record gap by 2009 may not be enough to stop long-term damage to the world economy.


China's economy grew 9.7% in first quarter

China said Thursday its economy grew by 9.7 percent in the first three months of this year, beating expectations and fueling worries about possible inflation.


An election that may not occur

This is election year for many countries around the world. At the International Monetary Fund, there now should also be a democratic and open process to select a new managing director after the last one suddenly left. But to the dismay of many, the new chief will likely emerge from back-room deals of rich countries.


US$30 oil props up Opec nations as reforms stagnate

Five years into an oil price boom, social tensions and growing populations mean Organisation of Petroleum Exporting Countries (Opec) states need to invest more heavily, but public sector spending is eroding the windfall and storing problems for the future.


Race for new IMF chief intensifies

The race to lead the International Monetary Fund (IMF) intensified on Monday as France and Germany reached a tentative deal to back Frenchman Jean Lemierre, a pact sources said has Washington's blessing.


Terengganu BN to use amicable approach, says MB

THE Barisan Nasional-led government in Terengganu has given an assurance that it would not 'take revenge' but instead it would use the amicable approach in its administration, I>Berita Harian /I>reported.


IMF: Ringgit peg ‘not substantially misaligned’

MALAYSIA's ringgit peg is 'not substantially misaligned' despite the US dollar's fall, the International Monetary Fund (IMF) said Thursday, backing official and manufacturers' views supporting the peg.


IMF: Long-standing weaknesses led to Argentine economic collapse

The International Monetary Fund (IMF) said yesterday that long-standing weaknesses in Argentina's economy led to its collapse in 2001, while the global lender acknowledged that its own shortcomings had prevented it from detecting the looming crisis.


Islamic Financial Services Board admits 13 new members

THE Council of Islamic Financial Services Board (IFSB) yesterday admitted 13 new members, bringing the number to 49.


Inspiring story of the WSF

By Martin Khor