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International Monetary Fund

IMF Stress Tests Find $280 Billion Black Hole In Chinese Banks' Capital

December 8, 2017 - 2:05pm
IMF Stress Tests Find $280 Billion Black Hole In Chinese Banks' Capital

The IMF released a new analysis on the instability stability of the Chinese financial system. Speaking to the media in an online briefing, some of the insights from Ratna Sahay, deputy director of the IMF’s Monetary and Capital Markets Department, hardly advanced our knowledge much.
Sahay noted that “Risks are large. Having said that, the authorities are really aware of risks and they are working proactively to contain these risks.”

Michael Hudson: America's Monetary Imperialism

December 1, 2017 - 4:40pm
Michael Hudson: America's Monetary Imperialism

Authored by Michael Hudson via Counterpunch.org,
In theory, the global financial system is supposed to help every country gain. Mainstream teaching of international finance, trade and “foreign aid” (defined simply as any government credit) depicts an almost utopian system uplifting all countries, not stripping their assets and imposing austerity.

Is Saudi Arabia's Oil Strategy Working?

November 3, 2017 - 5:30am
Is Saudi Arabia's Oil Strategy Working?

Authored by Nick Cunningham via OilPrice.com,
The IMF estimated that Saudi Arabia will need oil prices to trade at about $70 per barrel in 2018 for its budget to breakeven, a dramatic improvement from the $96.60 per barrel it needed just last year. Saudi’s improvement is the most dramatic out of all the Middle Eastern oil producers, and it also suggests the combination of austerity, cuts to wasteful subsidies, new taxes and economic reforms are starting to bear fruit.

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