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World Bank Chief Economist Indermit Gill, speaking with Reuters on Monday, said that rising debt levels among seemingly healthy countries in Asia coul
Gill said he remained critical of the slow pace of debt restructurings under the Group of 20 Common Framework for restructuring the debt of the poorest countries, and said it was critical to speed up those processes.
The Bretton Woods institutions have lost influence in recent years, and now are in search for a new role.
Amid a sharp increase in sovereign defaults, the IMF needs more resources. Members’ quotas are being reviewed, and powerful emerging states want bigger shares. But the Brics are also mustering resources to provide an alternative to the IMF
Financial markets have got off to a volatile start to the week, after Hamas militants launched an assault on Israel at the weekend, triggering violent conflict that left hundreds dead. A...