G20 Finance Ministers Agree on IMF Reform
The G-20 Ministerial meeting concluded with agreement on currency row and giving more representation to emerging economies in IMF as part of its governance reform on Saturday in South Korea. Realizing the rapid transfer in economic power from western industrial nations to emerging Asian nations the G20 finance ministers and central bankers in a joint [...]
Stronger Dollar Pushes Commodity Prices Down
Commodity prices fall as dollar rises and investors sell off some of their goods for a profit. The US dollar bounced back in unstable forex market on Thursday as investors become vigilant ahead of G20 finance ministers meeting on Friday and Saturday. Market analysts forecast a stronger dollar if the G20 finance minister meeting developed [...]
Emerging Economies Reacting to US policy
Emerging economies criticize US for enforcing international monetary solution for solving its domestic challenges instead of implementing difficult fiscal measures to bring unemployment down and manage deficit. After failing to devise and implement a viable strategy to deal with its domestic issues of high unemployment and a huge deficit USA is bringing [...]
German Minister Criticized US in Currency Row
German Economy Minister Rainer Bruederle severely criticized US Wednesday for blaming China of underrating yuan to fuel its exports. “At the moment I have more criticism of the American Treasury secretary than of China,” Bruederle said during a visit to China. The US had also pointed finger at Germany for preferring exports to the interest [...]
China Not to Tolerate “Hot Money”
China will persist on preventing speculative money inflows into China and repress illicit foreign exchange activities, China’s foreign exchange regulator, the State Administration of Foreign Exchange (SAFE), announced Tuesday. Chinese foreign exchange reserves have possibly exceeded US $2.5 trillion by the end of September because of speculative money inflow. Regulators emphasized that “hot money” flowing [...]
IMF Talks Failed
IMF talks showed no progress as USA, EU and Japan failed to convince China to sharply revaluate renminbi and move quickly towards more market-oriented exchange rate policies. China expressed fears in moving rapidly towards revaluating its currency as it would lead to social and economic unrest. China’s top central banker Zhou Xiaochuan insisted on a [...]
Ibrahim Sajid Malick is a Pakistani-American writer, technologist, and social entrepreneur. He has been writing on Pakistani society and politics since 1986. He has held several media, communications, and technology positions for organizations large and small. Mr. Malick graduated from New School for Social Research with a master’s degree in anthropology. He holds several technology and management certifications. He works for a leading technology firm and blogs at www.ibrahimsajidmalick.com