How IMF turned the world against the British pound

By:
On:
In: Asia, Business, Finance

Everyone from political pundits to people on the street have issued forth on the new UK government’s tax cut-laden growth plan recently. But it was a rare public rebuke from the International Monetary Fund (IMF) that really impacted financial markets. Days after the government made its mini-budget announcement, the IMF warned that “large and untargeted […]

The post How IMF turned the world against the British pound appeared first on Asia Times.

Continue Reading

British pound debacle worsens Asia’s woes

By:
On:
In: Asia, Finance

TOKYO — When Larry Summers says it’s bad, you know it’s bad. Ex-Treasury Secretary Summers made his bones amid the wreckage of the 1997-98 Asian financial crisis. Summers was a key member of the financial fire brigade tending to — and at times making worse — a blazing meltdown that left big scars. As such, […]

The post British pound debacle worsens Asia’s woes appeared first on Asia Times.

Continue Reading

Is Australia’s Reserve Bank bankrupt?

By:
On:
In: Asia, Business, Finance

Australia’ s Reserve Financial institution has just reported the loss of A$37 billion dollars (US$24. 1 billion), the biggest in its history, and it says it will probably be unable to pay the federal government dividends for some time. The particular announcement followed a review of its bond-buying program, one of the most important methods it supported the particular economy during the very first […]

The post Is Australia’ t Reserve Bank bankrupt? made an appearance first on Asia Situations .

Continue Reading

Falling FX reserves herald Asia financial crisis 2.0

By:
On:
In: Asia, Finance
Asian currency banknotes interspersed with US dollars. Photo: iStock/Getty Images.

TOKYO – Few narratives spook Asia more than word of trouble in Thailand – a lot more so when foreign-exchange reserves are involved. It was Bangkok’s devaluation in July 1997 that put in place the Asian financial crisis. As foreign-exchange supplies ran out, the government and Bank of Asia had no choice but to discard the […]

The post Falling FX reserves herald Asia financial crisis 2 . 0 made an appearance first on Asia Periods .

Continue Reading