IMF, World Bank meetings mark host of global economic challenges

Leaders from the International Monetary Fund and World Bank this weekend outlined a number of global economic risks, chief among them surging food prices, inflation, an uneven worldwide recovery and overheating in Asia.

While the global economy has shown signs of improvement, it remains in a "fairly fragile" state, said IMFC Chairman Tharman Shanmugaratnam at a press briefing on Saturday.

China, Russia endorse India's place in un Security Council

BRICS stands united on Libya, opposes use of force.

India has secured a significant endorsement of its aspirations for a permanent place in the United Nations Security Council or UNSC. India has been lobbying hard in various international forums for some time to gain a permanent seat at the UNSC, on the ground that the UN body should appropriately reflect the shift in power and relative importance in favour of developing countries like itself.

US lacks credibility on debt, says IMF

The US lacks a “credible strategy” to stabilise its mounting public debt, posing a small but significant risk of a new global economic crisis, says the c.

In an unusually stern rebuke to its largest shareholder, the IMF said the US was the only advanced economy to be increasing its underlying budget deficit in 2011, at a time when its economy was growing fast enough to reduce borrowing.

US lacks credibility on debt, says IMF

The US lacks a “credible strategy” to stabilise its mounting public debt posing a small but significant risk of a new global economic crisis, says the International Monetary Fund.

In an unusually stern rebuke to its largest shareholder, the IMF said the US was the only advanced economy to be increasing its underlying budget deficit in 2011 at a time when its economy was growing fast enough to reduce borrowing.

Germany: A test of strength

In the curious political blame game that is the daily bread and butter of the European Union, it seems there is one country that can never win: Germany.

Europe’s most populous and economically powerful country may be by far the biggest guarantor of a rescue fund for its cash-strapped eurozone partners. But that has not spared Berlin the brickbats from Greece, Ireland and now Portugal, where the popular feeling is that German meanness – not generosity – is partly to blame for austerity programmes those countries are being forced to adopt.

Keynes the key to maintaining Australia's economic health

The government's swift adoption of Keynsian policies protected the nation during the GFC. Now it is time to finish the job and bring in a surplus.

TWO and a half years ago, the fall of Lehman Brothers triggered the global financial crisis and sharemarket collapse that pushed the world economy to the brink of utter catastrophe. Australia's swift policy response saved tens of thousands of jobs, countless business failures, and a level of individual misery and hardship that can never be known. Today, despite the hammer blows of recent natural disasters, our economic outlook is strong and we are in a better position than almost any of our peers.

Canada's Dollar Strengthens to a 40-Month High as Crude Oil Prices Surge

Canada’s dollar strengthened to the highest level against its U.S. counterpart since November 2007 as commodities including crude oil, the nation’s biggest export, surged amid optimism global economic growth is accelerating.

The currency gained for the third straight week as oil exceeded $112 a barrel on concern Libyan output won’t rebound when fighting ends in that divided nation. Gold surged to a record. The Bank of Canada is expected to keep its target interest rate at 1 percent when policy makers meet next week.