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Pakistan Promises IMF to Raise Rates If Reserves Drop (Update1)

Published December 2, 2008, 6:55 pm, Bloomberg

Dec. 3 (Bloomberg) -- Pakistan's central bank has promised the International Monetary Fund it will increase interest rates further if the nation's foreign reserves drop too low.

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Top-level meeting to discuss new financial order

Published December 2, 2008, 5:34 pm, The Peninsula

DOHA: Participants in the UN-sponsored conference held here in the backdrop of global financial turbulence yesterday reached a consensus on holding a meeting at the highest level to discuss a new global financial architecture, despite stiff opposition from some quarters.

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Canada expects U.S. queries about stability

Published December 2, 2008, 5:14 pm, Times & Transcript

The whole world is watching and our closest ally - the United States - is worried as Canada goes through a "constitutional psychodrama", Foreign Affairs Minister Lawrence Cannon said Tuesday.

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Bitter IMF pills difficult for Asia to swallow

Published December 2, 2008, 4:09 pm, China Daily

As the global economic crisis worsens, the International Monetary Fund has returned to the center of the world's economic stage. At the recent G20 meeting held in Washington, leaders agreed to give more resources and enhance the function of the fund as a way to cope with the ongoing economic crisis.

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IMF Welcomes Call for Multilateral Action at Doha Conference

Published December 2, 2008, 3:56 pm, IMF

"The Doha Conference has taken place at a critical juncture for the world economy. The financial crisis threatens to derail progress toward the MDGs, and calls for a strong international response.

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Tarin for re-structuring of Planning Commission, SBP

Published December 2, 2008, 3:43 pm, Business Recorder

KARACHI (December 03 2008): Shaukat Tarin, Advisor to Prime Minister on Finance has termed the re-structuring of Planning Commission and State Bank of Pakistan a "must" to avoid economic fall every next decade, saying that these institutions should be made "independent" to devise economic strategy.

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(AFX UK Focus) 2008-12-02 22:16 UPDATE 1-Latvia takes control of 84 pct of troubled Parex

Published December 2, 2008, 2:51 pm, Interactive Investor

RIGA, Dec 2 (Reuters) - The government of the Baltic state of Latvia, which is in aid talks with the IMF and European Union, decided on Tuesday to raise its control of troubled bank Parex from 51 percent to 84 percent, the Finance Ministry said. The move came as part of efforts to cap withdrawals from Parex, the second largest bank in Latvia, which the government last month decided to rescue by ...

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Kiev crunch

Published December 2, 2008, 2:40 pm, Financial Times

It has been a rough ride for Viktor Yushchenko, Ukraine’s pro-west president, since his triumph in the 2004 Orange Revolution – and it is about to get much rougher.

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Call to take responsibility

Published December 2, 2008, 2:35 pm, The Peninsula

DOHA: The round-table discussion on ‘external debt’ at the UN conference yesterday held wealthy nations responsible for the global credit crisis. “The debt crisis is caused by the irresponsible behaviour and a phoney market in toxic assets.

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UPDATE 1-Latvia takes control of 84 pct of troubled Parex

Published December 2, 2008, 2:30 pm, The Forex Market

RIGA, Dec 2 (Reuters) - The government of the Baltic state of Latvia, which is in aid talks with the IMF and European Union, decided on Tuesday to raise its control of troubled bank Parex from 51 percent to 84 percent, the Finance Ministry said.

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