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.
    Ivorian Chocolate Makers Promote Locally-made Chocolatei
    X
    July 29, 2016 4:02 PM
    Ivory Coast is the world's top producer of cocoa but hardly any of it is processed into chocolate there. Instead, the cocoa is sent abroad to chocolate makers in Europe and elsewhere. This is a general problem throughout Africa – massive exports of raw materials but few finished goods. As Emilie Iob reports from Abidjan, several Ivorian entrepreneurs are working to change that formula - 100 percent Ivorian chocolate bar at a time.
    Video

    Video Ivorian Chocolate Makers Promote Locally-made Chocolate

    Ivory Coast is the world's top producer of cocoa but hardly any of it is processed into chocolate there. Instead, the cocoa is sent abroad to chocolate makers in Europe and elsewhere. This is a general problem throughout Africa – massive exports of raw materials but few finished goods. As Emilie Iob reports from Abidjan, several Ivorian entrepreneurs are working to change that formula - 100 percent Ivorian chocolate bar at a time.
    Video

    Video Tesla Opens Battery-Producing Gigafactory

    Two years after starting to produce electric cars, U.S. car maker Tesla Motors has opened the first part of its huge battery manufacturing plant, which will eventually cover more than a square kilometer. Situated close to Reno, Nevada, the so-called Gigafactory will eventually produce more lithium-ion batteries than were made worldwide in 2013. VOA's George Putic reports.
    Video

    Video Polio-affected Afghan Student Fulfilling Her Dreams in America

    Afghanistan is one of only two countries in the world where children still get infected by polio. The other is Pakistan. Mahbooba Akhtarzada who is from Afghanistan, was disabled by polio, but has managed to overcome the obstacles caused by this crippling disease. VOA's Zheela Nasari caught up with Akhtarzada and brings us this report narrated by Bronwyn Benito.
    Video

    Video Hillary Clinton Promises to Build a 'Better Tomorrow'

    Democratic presidential candidate Hillary Clinton urged voters Thursday not to give in to the politics of fear. She vowed to unite the country and move it forward if elected in November. Clinton formally accepted the Democratic Party's nomination at its national convention in Philadelphia. VOA national correspondent Jim Malone has more.
    Video

    Video Trump Tones Down Praise for Russia

    Republican presidential candidate Donald Trump is toning down his compliments for Russia and Vladimir Putin as such rhetoric got him in trouble recently. After calling on Russia to find 30.000 missing emails from rival Hillary Clinton, Trump told reporters he doesn't know Putin and never called him a great leader, just one who's better than President Barack Obama. Putin has welcomed Trump's overtures, but, as Zlatica Hoke reports, ordinary Russians say they are not putting much faith in Trump.
    Video

    Video Uganda Unveils its First Solar-powered Bus

    A solar-powered bus described by its Ugandan makers as the first in Africa has made its public debut. Kiira Motors' electric bus, Kayoola, displayed recently at a stadium in Uganda's capital. From Kampala, Maurice Magorane filed this report narrated by Salem Solomon.
    Video

    Video Silicon Valley: More Than A Place, It's a Culture

    Silicon Valley is a technology powerhouse and a place that companies such as Google, Facebook and Apple call home. It is a region in northern California that stretches from San Francisco to San Jose. But, more than that, it's known for its startup culture. VOA's Elizabeth Lee went inside one company to find out what it's like to work in a startup.
    Video

    Video Immigrant Delegate Marvels at Democratic Process

    It’s been a bitter and divisive election season – but first time Indian-American delegate Dr. Shashi Gupta headed to the Democratic National Convention with a sense of hope. VOA’s Katherine Gypson followed this immigrant with the love of U.S. politics all the way to Philadelphia.
    Video

    Video Dutch Entrepreneurs Turn Rainwater Into Beer

    June has been recorded as one of the wettest months in more than a century in many parts of Europe. To a group of entrepreneurs in Amsterdam the rain came as a blessing, as they used the extra water to brew beer. Serginho Roosblad has more to the story.
    Video

    Video Commerce Thrives on US-Mexico Border

    At the Democratic Convention in Philadelphia this week, the party’s presumptive presidential nominee, Hillary Clinton, is expected to attack proposals made by her opponent, Republican presidential nominee Donald Trump, to build a wall along the U.S.-Mexico border. Last Friday, President Barack Obama hosted his Mexican counterpart, President Enrique Peña Nieto, to underscore the good relations between the two countries. VOA’s Greg Flakus reports from Tucson.
    Video

    Video Film Helps Save Ethiopian Children Thought to be Cursed

    'Omo Child' looks at effort of African man to stop killings of ‘mingi’ children
    Video

    Video London’s Financial Crown at Risk as Rivals Eye Brexit Opportunities

    By most measures, London rivals New York as the only true global financial center. But Britain’s vote to leave the European Union – so-called ‘Brexit’ – means the city could lose its right to sell services tariff-free across the bloc, risking its position as Europe’s financial headquarters. Already some banks have said they may shift operations to the mainland. Henry Ridgwell reports from London.

    Special Report

    Adrift The Invisible African Diaspora