Dominique Strauss-Kahn

International Monetary Fund chief Dominique Strauss-Kahn will visit Asia this month and meet with Chinese officials to discuss the global economic recovery, an IMF official said. "This is an important trip," Caroline Atkinson, director of external relations, said at a news conference. The IMF managing director will arrive first in Singapore, where he will participate in the 16th Asia-Pacific Economic Cooperation Finance Ministers' Meeting, and meet with the Singaporean authorities on November 12. The following day, Strauss-Kahn is to deliver the 2009 Monetary Authority of Singapore lecture on "the role of Asia in reshaping the global economy," Atkinson said. Strauss-Kahn and Singapore's Minister of ... Read Full Story

International Monetary Fund chief Dominique Strauss-Kahn will visit Asia this month and meet with Chinese officials to discuss the global economic recovery, an IMF official said Thursday. "This is an important trip," Caroline Atkinson, director of external relations, said at a news conference. The IMF managing director will arrive first in Singapore, where he is to deliver the 2009 Monetary Authority of Singapore lecture on November 13 on "the role of Asia in reshaping the global economy," she said. Strauss-Kahn will visit China on November 16-17. He will meet in Beijing with Chinese authorities to discuss "the international policy response to the crisis and ... Read Full Story

The International Monetary Fund has sold 200 metric tons of gold worth $6.7 billion to India's central bank as part of an effort to shore up IMF finances and increase low-cost lending to developing countries. The amount represents almost half the total sales volume of 403.3 metric tons approved by the IMF in September, the lending organization said Monday, a decision anticipated for more than a year and discounted by gold markets. China, India and Russia have indicated interest in such purchases as a way of reducing their position in dollar-denominated securities, particularly since the steep fall in the dollar's value. The purchases also ... Read Full Story

The International Monetary Fund announced Monday the sale of 200 tonnes of gold to India's central bank, nearly half the amount targeted for sale over the coming years to shore up IMF finances. The total sales proceeds are equivalent to 6.7 billion dollars, the IMF said. The sale represents almost half of the 403.3 tonnes of IMF gold approved for sale by the institution's executive board in September. Under the fund?s Articles of Agreement, all gold sales must be based on market prices. "I strongly welcome this transaction with the Reserve Bank of India," Dominique Strauss-Kahn, the IMF managing director, said in a statement. ... Read Full Story

The US economy's return to growth is "good news," IMF chief Dominique Strauss-Kahn said Friday, while predicting that unemployment will continue to rise for up to a year. "Growth is coming back, but the delay between growth resuming and unemployment decreasing is something between 10 and 12 months depending on the country," Strauss-Kahn said at the International Labour Festival in Rocca di Papa, southeast of Rome. The US economy pulled out of recession in the third quarter, when output grew at a seasonally adjusted 3.5 percent annual rate. The strongest growth in two years has boosted confidence in a US and global economic recovery. ... Read Full Story