IMF to FED: Delay Interest Rate Increase

http://www.youtube.com/watch?v=PxOILDkU-8Q The Federal Reserve should delay raising interest rates until the first half of 2016, the International Monetary Fund said as it cut its U.S. growth forecast for the second time this year. The lender also said that the dollar was “moderately overvalued” and a further marked appreciation would be “harmful,” in a statement released in Washington on Thursday on its annual checkup of the U.S. economy. “We still believe that the underpinnings for ...
More

Russia Invites Greece to Join BRICS

As if the discussions in Brussels and Athens were not mired in enough uncertainty, Bloomberg reports that a Greek official confirms: *STORCHAK ASKED TSIPRAS FOR GREECE TO JOIN BRICS BANK: OFFICIAL The pivot appears to continue. Reportedly, Tsipras was pleasntly surprised by the proposal. As Bloomberg reports, Russian Deputy Finance Minister Sergei Storchak spoke with Greek PM Alexis Tsipras today, proposed that Greece become 6th member of New Development Bank set up by Brazil, Russia,...
More

Asian & African Leaders to form New Rival Bank to IMF

Leaders of emerging countries in Africa and Asia have pushed for the establishment of a new development bank to rival the World Bank. The new bank idea was discussed during the 60th commemoration of the Asia-Africa conference last month in Jakarta, Indonesia. The leaders agreed that, to succeed, the bank must be totally separated from the World Bank and the International Monetary Fund (IMF) because the two could no longer be trusted to fully fund development infrastructure projects. Pre...
More