By Simon Rabinovitch and David Lawder
ISTANBUL, Oct 6 (Reuters) – The IMF needs to fix “intrinsic defects” in the world’s monetary system, China said on Tuesday as officials from around the globe wrestled with how best to ward off future financial crises.
China wants IMF to fix world monetary system, U.S. sees surveillance role
Hungary central bank moves to limit forex loans
ISTANBUL/BUDAPEST, Oct 4 (Reuters) – Hungary’s central bank has proposed regulations to limit foreign currency lending to cut the country’s vulnerability in a financial crisis.
Governor Andras Simor said on Sunday at the International Monetary Fund/World Bank meeting in Istanbul that the central bank, the NBH, had asked the government for extra powers to discourage Hungarians from taking on foreign currency loans in order to lessen the economic impact of any future financial crises.
IMF, World Bank warn global cooperation may falter
By Lesley Wroughton
ISTANBUL, Oct 2 (Reuters) – The International Monetary Fund and the World Bank warned on Friday that the global economic recovery might falter if complacent policymakers lose their will to cooperate.
“The danger today is no longer, fortunately, one of a collapsing world economy,” World Bank President Robert Zoellick told a news conference. “The danger today is one of complacency.
G20 faces credibility test on markets
By Sumeet Desai and Chris Buckley
PITTSBURGH, Sept 26 (Reuters) – The Group of 20 rich and developing economies, fresh from a triumphant show of unity at Pittsburgh, faces months of deal-making and communication to markets that will test its credibility as the premier global forum for economic cooperation.
World Bank’s Zoellick says wary of more Fed power, sees more “options” to dollar
By Alister Bull
WASHINGTON, Sept 28 (Reuters) – The head of the World Bank on Monday sounded a cautionary note about granting greater regulatory power to the U.S. Federal Reserve and said the dollar’s future will “depend heavily on U.S. choices.”
G20 economic peer review to start by year-end: Australian premier
PITTSBURGH (Reuters) – The world’s major economies will begin sharing information about their growth plans by the end of 2009 as the G20 embarks on a novel process of peer review, Australian Prime Minister Kevin Rudd said on Friday.
Merkel to G20: regulation before rebalancing
By Madeline Chambers and Emily Kaiser
BERLIN/PITTSBURGH, Sept 24 (Reuters) – German Chancellor Angela Merkel warned on Thursday a U.S. drive to rebalance the global economy risked distracting the Group of 20 from a more urgent need for market regulation at their Pittsburgh summit.
Cautious China backs G20 coordination; EU proposes bank rules
By Simon Rabinovitch and John O’Donnell
BEIJING/BRUSSELS, Sept 23 (Reuters) – China offered some support on Wednesday to U.S. plans to build a more balanced global economy, as world leaders seek to agree ways to nurture a tentative recovery and prevent future crises.
The European Union unveiled its blueprint for an overhaul of the way banks and financial markets are policed, with plans for a banking super-watchdog and a pan-European supervisor that it hopes can be replicated on the global stage.
U.S. to push for new economic world order at G20
By Alister Bull
WASHINGTON (Reuters) – The United States wants world leaders to agree this week to launch a major rethink of the world economy in November as they try to strengthen the global economy after its near meltdown.
EU leaders at G20 to seek bonus curbs, retained stimulus
By Darren Ennis and Jan Strupczewski
BRUSSELS, Sept 17 (Reuters) – European Union leaders agreed on Thursday to seek curbs on bankers’ bonuses at next week’s G20 summit and said they wanted evidence the recession is over before they stop spending to prop up their economies.
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