Friday, October 14, 2011
G20 Ministers Meet in Paris
Amid the pall of the European debt crisis (FT), G20 finance ministers meeting in Paris may struggle to strike last minutes deals before the group's summit in Cannes next month, say analysts. However, one bright spot may be a deal backed by emerging-market countries to expand funding for the IMF.
The International Monetary Fund, both criticized and lauded for its efforts to promote financial stability, finds itself again in the forefront of global economic crisis management. This Backgrounder examines the Fund's history and role.
Spain: Standard & Poor's downgraded Spain's long-term debt by one point to AA-, adding to investor fears of European financial contagion (DeutscheWelle). However, analysts say a Greek default on its debt continues to be the biggest concern for global markets.
