IMF Says Saudi Arabia Could Be Bankrupt By 2020

“They’re still hooked on oil,” noted one analyst. Another warned: “It remains to be seen if they are doing enough to deal with the current economic reality facing the country.”

MintPress News Desk
By MintPress News Desk
oil prices

RIYADH, Saudi Arabia --- According to the International Monetary Fund, Saudi Arabia’s economy is in danger of collapse as oil prices grow increasingly unstable. The warning appeared in the “Regional Economic Outlook” for the Middle East and Central Asia published on Oct. 15, an annual report published by IMF economists. Adam Leyland, writing on

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The Transatlantic Rift: Is US-Euro Relationship Showing Signs Of Strain?

Numerous indications suggesting that the governments and general publics of Europe and the US are diverging and becoming increasing less aligned in their beliefs and actions.

Sputnik News
By Sputnik News
© Flickr/ akob Huber/ECI Stop TTIP!

The West’s historical role in setting global trends and driving international norms is at threat due to a rift in the relationship between the US and Europe, with the rise of new of new powers like China and Brazil creating a more competitive international environment, researchers have warned. Xenia Wickett, US program director for the think tank

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Former IMF Chief Under Investigation For Money Laundering, Now Arrested

Rato’s dealings include misappropriation of funds through a Visa card totaling 6 Million Euro, income from serving on the international advisory board of a Turkish bank in violation of Spanish banking laws, and a series of shell corporation divestments.

Justin King
By Justin King
Former IMF managing director Rodrigo Rato, center, arrives at the National Court in Madrid, Spain, to answer questions over his stewardship of Spanish bank, Bankia. Former International Monetary Fund chief Rodrigo Rato was detained by police Thursday night April 16, 2015, according to media reports, after tax officials spent hours searching his apartment.

Former IMF managing director Rodrigo Rato, center, arrives at the National Court in Madrid, Spain, to answer questions over his stewardship of Spanish bank, Bankia.  Former International Monetary Fund chief Rodrigo Rato was detained by police Thursday night April 16, 2015,  according to media reports, after tax officials spent hours searching his

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IMF Chief Lagarde Under Investigation In France

She and her former chief of staff face questions about their role in a 400 million-euro ($531 million) payment to a businessman with a checkered past.

Associated Press
By Associated Press

PARIS  — Christine Lagarde, the chief of the International Monetary Fund, was put under official investigation for negligence in a French corruption probe that dates back to her days as France's finance minister. After a fourth round of questioning before magistrates on Wednesday, Lagarde said she would return to her work in Washington later in

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World’s Financial Elite Get Lofty On ‘Inequality,’ But Critics Unimpressed

‘We need much bigger changes … not just speaking out against inequality and not just speaking out against contradictory policies, but actually making those policy changes’

Jacob Chamberlain
By Jacob Chamberlain

In reference to last week's "Spring Meetings" between the World Bank and the International Monetary Fund, critics are calling on the two financial giants to put their money where their mouths are and initiate policies that fight growing global inequality, rather than create it. In the build-up to the annual meetings between finance ministers,

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US Threatening Tougher Sanctions On Russia

The Obama administration is willing to impose “additional significant sanctions” if Russia escalates the Ukraine situation.

Associated Press
By Associated Press

WASHINGTON (AP) — Treasury Secretary Jacob Lew is warning Russia that it could face tougher economic sanctions because of its actions in Ukraine but so far other economic powers are showing a reluctance to go as far as the United States. Lew delivered his warning Thursday to Russian Finance Minister Anton Siluanov, telling him that the Obama

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