4 oct to 9 oct 2010

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4 oct to 9 oct 2010 : 

4 oct to 9 oct 2010 Presented by Harsimran singh

IMF should be tougher on exchange rate monitoring: US : 

IMF should be tougher on exchange rate monitoring: US WASHINGTON: The International Monetary Fund should toughen its monitoring of exchange rates policies and accumulation reserves, US Treasury Secretary Timothy Geithner said on Saturday at IMF annual meetings. Geithner, speaking to IMF policymakers, said the international organization must carry out its role of surveillance of the financial system including sounding warnings about countries that undervalue their currencies or build up huge surpluses. The comments appeared aimed at China , although Geithner did not mention the country by name, and came amid simmering tensions about what Washington and others claim is an undervalued yuan.

Contd.. : 

Contd.. Growth in emerging European and Central Asian economies will recover to 3.9 percent on average in 2010, the World Bank forecast, after a massive contraction of 5.1 percent in 2009. But the bank said unemployment remained high in the developing European countries and was still rising in the former Soviet republics. The region's recovery was largely the result of rising demand in Western Europe, which takes about three quarters of the region's exports.

Emerging Europe stuck in 'debt shadow' of West: World Bank : 

Emerging Europe stuck in 'debt shadow' of West: World Bank WASHINGTON: Eastern and Central European countries could face another economic slowdown if their Western neighbours cannot gain control of their finances, the World Bank warned on Friday. Indermit Gill, the World Bank's chief economist for the region, said that emerging economies in Europe had come out of last year's economic crisis more dependent than ever on Western Europe.

contd : 

contd While those trade links helped the emerging European countries pull out of a deep recession last year, Gill warned that the region could once again suffer weak demand for their exports as Western governments cut spending to bring their public finances in line. 'The high debt in Western Europe has a shadow that falls on Central and Eastern Europe,' said Gill.

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