Banking giant Citigroup has agreed to pay 75 million US dollars to settle civil charges that it misled investors over potential losses from high-risk mortgages. It agreed the settlement with US financial watchdog the Securities and Exchange Commission (SEC).
A government debt crisis that has engulfed the Euro-zone should serve as a “wake-up call” for European governments to keep a more watchful eye on their budgets, the International Monetary Fund (IMF) said Wednesday.
Uruguay is overall champion of tourism in Latin America, according to the Latin Tourism Index from Latin Business Chronicle
The Latin American economy could grow by as much as 5% this year, more strongly than previously expected (4%), driven by Brazil's vigorous expansion, according to a senior International Monetary Fund official.
The IMF and EU suspended a review of Hungary's funding program, set up in 2008 to save the country from financial meltdown, saying it must take tough action to meet targets for cutting its budget deficit.
The US economy is recovering after the global economic crisis, but consumers and financial institutions remain cautious as weak housing markets, high unemployment, and risks in Europe remain a concern, the IMF staff said in a press conference that followed its annual review of the world’s largest economy.
Argentina high school students are enjoying four comic strips, part of the official program, which satirizes the turbulent relation of the country with the IMF, presenting one of the works under the attractive name of “An intruder in the family”.
The US dollar is an unreliable international currency and should be replaced by a more stable system, the United Nations Department of Economic and Social Affairs said in a report released Tuesday.
Disagreements over how quickly to reduce inflated budget deficits and restore balance to the global economy risk will be one of the main issues to be addressed at the high-level Group of 20 talks this week in South Korea.
The International Monetary Fund has raised fresh concerns about Spain's economy, saying “far-reaching” reforms are needed to ensure its recovery. It said the country faced “severe” challenges, including the need to urgently reform a “dysfunctional” labour market, and its banking sector.