News

    IMF: Financial Stability Improved, but Not Assured Long-term

    This handout photo provided by the International Monetary Fund (IMF) shows the IMFs Financial Counselor and Director Jose Vinals, left, and Deputy Director Robert Sheehy during the Global Financial Stability Report News Conference, April 13, 2011, at IMF
    This handout photo provided by the International Monetary Fund (IMF) shows the IMFs Financial Counselor and Director Jose Vinals, left, and Deputy Director Robert Sheehy during the Global Financial Stability Report News Conference, April 13, 2011, at IMF

    The International Monetary Fund said that global financial stability has improved over the last several months with the easing of the European debt crisis, but not so much as to ensure long-term economic growth.

    An IMF senior official, Jose Vinals, said Wednesday in Washington that a new financial bailout for Greece and a European rescue fund for future financial emergencies have eased global financial concerns. But he said the gains are tenuous.

    "These actions and policies have brought much-needed relief to financial markets since the peak of the crisis late last year," said Vinals. "But it is too soon to say that we have exited the crisis, because lasting stability is not yet ensured."

    "Indeed," he added, "we have been reminded in recent weeks that sentiment can quickly shift and rekindle sovereign financing stress, leaving many sovereigns and banking systems caught in a vicious circle."

    The fragile nature of the European economy was underscored in Italy, with the Italian government warning that the country's recession is deeper than predicted earlier. Rome said Italy's economy would shrink 1.2 percent this year and that the national budget would not be balanced until 2015, two years later than originally planned.

    Vinals said European banks remain vulnerable to new financial pressures. He said their assets could shrink in the next two years by more than $2 trillion, leaving them with less money to lend and hindering the continent's economic growth.

    In addition, Vinals said that the United States, with the world's largest economy, and Japan each need to forge a political consensus to cut deficit spending by their governments that threatens economic advances on a broader scale throughout the world.

    "Unaddressed fiscal challenges in the United States and Japan represent latent risks to global stability," Vinals added. "Both countries have yet to forge a much-needed political consensus for medium-term deficit reductions. The United States is also grappling with high household debt burdens and an overhang of home foreclosures."

    Vinals called on European leaders to create a "more and better Europe," with greater economic integration throughout the 17-nation euro currency bloc. He acknowledged that heightened European unity would be "politically difficult," but said that it was necessary to end the threat of financial instability.

    This forum has been closed.
    Comment Sorting
    Comments
         
    by: NVO
    April 19, 2012 8:49 AM
    NEW WORLD ORDER rising!

    by: NVO
    April 18, 2012 11:01 AM
    Soon all of these NEW WORLD ORDER DRONES will be pushing for Revelation 13:16. Do NOT be deceived. The Rothschilds, The Rockefellers, The Clintons, are just a few whom are in the drivers seat.

    Featured Videos

    Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
    Brexit Vote Plunges Global Markets Into Unchartered Territoryi
    X
    June 24, 2016 9:38 PM
    British voters plunged global markets into unknown territory after they voted Thursday to leave the European Union. The results of the Brexit vote, the term coined to describe the referendum, caught many off guard. Analysts say the resulting volatility could last for weeks, perhaps longer. Mil Arcega reports.
    Video

    Video Brexit Vote Plunges Global Markets Into Unchartered Territory

    British voters plunged global markets into unknown territory after they voted Thursday to leave the European Union. The results of the Brexit vote, the term coined to describe the referendum, caught many off guard. Analysts say the resulting volatility could last for weeks, perhaps longer. Mil Arcega reports.
    Video

    Video Orlando Shooting Changes Debate on Gun Control

    It’s been nearly two weeks since the largest mass shooting ever in the United States. Despite public calls for tighter gun control laws, Congress is at an impasse. Democratic lawmakers resorted to a 1960s civil rights tactic to portray their frustration. VOA’s Carolyn Presutti explains how the Orlando, Florida shooting is changing the debate.
    Video

    Video Tunisian Fishing Town Searches for Jobs, Local Development Solutions

    As the European Union tries to come to grips with its migrant crisis, some newcomers are leaving voluntarily. But those returning to their home countries face an uncertain future.  Five years after Tunisia's revolution, the tiny North African country is struggling with unrest, soaring unemployment and plummeting growth. From the southern Tunisian fishing town of Zarzis, Lisa Bryant takes a look for VOA at a search for local solutions.
    Video

    Video 'American Troops' in Russia Despite Tensions

    Historic battle re-enactment is a niche hobby with a fair number of adherents in Russia where past military victories are played-up by the Kremlin as a show of national strength. But, one group of World War II re-enactors in Moscow has the rare distinction of choosing to play western ally troops. VOA's Daniel Schearf explains.
    Video

    Video Experts: Very Few Killed in US Gun Violence Are Victims of Mass Shootings

    The deadly shooting at a Florida nightclub has reignited the debate in the U.S. over gun control. Although Congress doesn't provide government health agencies funds to study gun violence, public health experts say private research has helped them learn some things about the issue. VOA's Carol Pearson reports.
    Video

    Video Trump Unleashes Broadside Against Clinton to Try to Ease GOP Doubts

    Recent public opinion polls show Republican Donald Trump slipping behind Democrat Hillary Clinton in the presidential election matchup for November. Trump trails her both in fundraising and campaign organization, but he's intensifying his attacks on the former secretary of state. VOA National Correspondent Jim Malone reports.
    Video

    Video Muslim American Mayor Calls for Tolerance

    Syrian-born Mohamed Khairullah describes himself as "an American mayor who happens to be Muslim." As the three-term mayor of Prospect Park, New Jersey, he believes his town of 6,000 is an example of how ethnicity and religious beliefs should not determine a community's leadership. Ramon Taylor has this report from Prospect Park.
    Video

    Video Internal Rifts Over Syria Policy Could Be Headache for Next US President

    With the Obama administration showing little outward enthusiasm for adopting a more robust Syria policy, there is a strong likelihood that the internal discontent expressed by State Department employees will roll over to the next administration. VOA State Department correspondent Pam Dockins reports.
    Video

    Video Senegal to Park Colorful ‘Cars Rapide’ Permanently

    Brightly painted cars rapide are a hallmark of Dakar, offering residents a cheap way to get around the capital city since 1976. But the privately owned minibuses are scheduled to be parked for good in late 2018, as Ricci Shryock reports for VOA.
    Video

    Video Florida Gets $1 Million in Emergency Government Funding for Orlando

    The U.S. government has granted $1 million in emergency funding to the state of Florida to cover the costs linked to the June 12 massacre in Orlando. U.S. Attorney General Loretta Lynch announced the grant Tuesday in Orlando, where she met with survivors of the shooting attack that killed 49 people. Zlatica Hoke reports.
    Video

    Video How to Print Impossible Shapes with Metal

    3-D printing with metals is rapidly becoming more advanced. As printers become more affordable, the industry is partnering with universities to refine processes for manufacturing previously impossible things. A new 3-D printing lab aims to bring the new technology closer to everyday use. VOA's George Putic reports.
    Video

    Video Big Somali Community in Minnesota Observes Muslim Religious Feast

    Ramadan is widely observed in the north central US state of Minnesota, which a large Muslim community calls home. VOA Somali service reporter Mohmud Masadde files this report from Minneapolis, the state's biggest city.

    Special Report

    Adrift The Invisible African Diaspora