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.
    German Artists to Memorialize Refugees With Life Jacket Exhibiti
    X
    Hamada Elsaram
    February 05, 2016 4:30 PM
    Sold in every kind of shop in some Turkish port towns, life jackets have become a symbol of the refugee crisis that brought a million people to Europe in 2015.  On the shores of Lesbos, Greece, German artists collect discarded life jackets as they prepare an art installation they plan to display in Germany.  For VOA, Hamada Elrasam has this report from Lesbos, Greece.
    Video

    Video German Artists to Memorialize Refugees With Life Jacket Exhibit

    Sold in every kind of shop in some Turkish port towns, life jackets have become a symbol of the refugee crisis that brought a million people to Europe in 2015.  On the shores of Lesbos, Greece, German artists collect discarded life jackets as they prepare an art installation they plan to display in Germany.  For VOA, Hamada Elrasam has this report from Lesbos, Greece.
    Video

    Video E-readers Help Ease Africa's Book Shortage

    Millions of people in Africa can't read, and there's a chronic shortage of books. A non-profit organization called Worldreader is trying to help change all that one e-reader at a time. VOA’s Deborah Block tells us about a girls' school in Nairobi, Kenya where Worldreader is making a difference.
    Video

    Video Genius Lets World Share Its Knowledge

    Inspired by crowdsourcing companies like Wikipedia, Genius allows anyone to edit anything on the web, using its web annotation tool
    Video

    Video Former Drug CEO Martin Shkreli Angers US Lawmakers

    A former U.S. pharmaceutical business executive has angered lawmakers by refusing to explain why he raised the price of a life-saving pill by 5,000 percent. Martin Shkreli was removed from a congressional hearing on Thursday after citing his Fifth Amendment right to stay silent. Zlatica Hoke has more.
    Video

    Video Super Bowl TV Commercials are Super Business for Advertisers

    The Super Bowl, the championship clash between the two top teams in American Football, is the most-watched sporting event of the year, and advertisers are lining up and paying big bucks to get their commercials on the air. In fact, the TV commercials during the Super Bowl have become one of the most anticipated and popular features of the event. VOA's Brian Allen has a sneak peek of what you can expect to see when the big game goes to commercial break, and the real entertainment begins.
    Video

    Video In Philippines, Mixed Feelings About Greater US Military Presence

    In the Philippines, some who will be directly affected by a recent Supreme Court decision clearing the way for more United States troop visits are having mixed reactions.  The increased rotations come at a time when the Philippines is trying to build up its military in the face of growing maritime assertiveness from China.  From Bahile, Palawan on the coast of the South China Sea, Simone Orendain has this story.
    Video

    Video Microcephaly's Connection to Zika: Guilty Until Proven Innocent

    The Zika virus rarely causes problems for the people who get it, but it seems to be having a devastating impact on babies whose mothers are infected with Zika. VOA's Carol Pearson has more.
    Video

    Video Solar Innovation Provides Cheap, Clean Energy to Kenya Residents

    In Kenya, a company called M-Kopa Solar is providing clean energy to more than 300,000 homes across East Africa by allowing customers to "pay-as-you-go" via their cell phones. As Lenny Ruvaga reports from Kangemi, customers pay a small deposit for a solar unit and then pay less than a dollar a day to get clean energy to light up their homes or businesses.
    Video

    Video Stunning Artworks Attract Record Crowds, Thanks to Social Media

    A new exhibit at the oldest art museum in America is shattering attendance records. Thousands of visitors are lining up to see nine giant works of art that have gotten a much-deserved shot of viral marketing. The 150-year-old Smithsonian American Art Museum has never had a response quite like this. VOA's Julie Taboh reports.
    Video

    Video Apprenticeships Put Americans on Path Back to Work

    Trying to get more people into the U.S. workforce, the Obama administration last year announced $175 million in grants towards apprenticeship programs. VOA White House correspondent Aru Pande went inside one training center outside of Washington that has gained national recognition for helping put people on the path to employment.
    Video

    Video New Material May Reduce Concussion Effects

    As the 2016 National Football League season reaches its summit at the Super Bowl this coming Sunday (2/7), scientists are trying to learn how to more effectively protect football players from dangerous and damaging concussions. Researchers at Cardiff and Cambridge Universities say their origami-based material may solve the problem. VOA’s George Putic reports.
    Video

    Video Saudi Arabian Women's Sports Chip Away at Stereotypes

    Saudi Arabian female athletes say that sports are on the front line of busting traditions that quash women’s voices, both locally and internationally. In their hometown of Jeddah, a group of basketball players say that by connecting sports to health issues, they are encouraging women and girls to get out of their homes and participate in public life. VOA’s Heather Murdock reports.
    Video

    Video A Year Later, Fortunes Mixed for Syrians Forging New Lives in Berlin

    In April of last year, VOA followed the progress of six young Syrian refugees -- four brothers and their two friends -- as they made their way from Libya to Italy by boat, and eventually to Germany. Reporter Henry Ridgwell caught up with the refugees again in Berlin, as they struggle to forge new lives amid the turmoil of Europe's refugee crisis.
    Video

    Video Zika Virus May be Hard to Stop

    With the Zika virus spreading rapidly, the World Health Organization Monday declared Zika a global health emergency. As Alberto Pimienta reports, for many governments and experts, the worst is yet to come.