Word: imf
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...system, the country went from being one of the world's richest nations per head to virtually a failed economy. The statistics tell a stunning story: Iceland's currency, the krona, shed nearly half its value; inflation rose to over 12%; the stock exchange fell 89%; a $10 billion IMF bailout was sought; half the country's businesses became technically insolvent; 15% of Icelanders fell into negative equity...
...However, the government would almost certainly need to renegotiate its $6.3 billion agreement to reimburse the Dutch and British who had accounts with Icesave, the internet arm of the now-defunct Landsbanki, which collapsed last October. The deal was a condition of the IMF bailout, and Iceland has 15 years to pay it back. But the sums total almost half the country's annual output and could jeopardize any recovery...
...reopen an iron-ore mine and rebuild a railway in the eastern interior, Liberia has signed a deal with Sime Darby of Malaysia for an $800 million, 20-year concession to a 494,000-acre (200,000 hectare) combined palm-oil and rubber plantation. Earlier this year, the IMF and World Bank canceled Liberia's $4.7-billion foreign debt. "I'm not saying Liberia will be a paradise tomorrow," says Richard Tolbert, chairman of Liberia's National Investment Commission. "I am saying we can regenerate this country in 15 years...
...when no country in the West recognizes either as independent, would push Belarus into international isolation. Instead, Lukashenko satisfied U.S. demands to release a large group of political prisoners, including former presidential candidate Alexander Kozulin. Last month, Russia canceled its last $500 million installment of a $2 billion IMF loan to Belarus as punishment for not recognizing the breakaway republics, Lukashenko claimed. "It's no coincidence that Lukashenko released key political prisoners within days of the August conflict," says Wilson. "He realized he had to pay his dues to the E.U. because Russian friendship came with a price...
...Lukashenko has been able to manipulate the tensions between Russia and the West in his favor. Belarus is the only country that has successfully asked for and received loans from both Russia and the IMF, and Russia is still Belarus' major trading partner. But Lukashenko may not be able to keep up this balancing act for long. "If he wants to survive with Russia angry at his border, then Lukashenko needs to do some more thorough [political reforms] then he is willing to admit," says Vitali Silitski, director of the Belarusian Institute for Strategic Studies, pointing out that Belarus...