International Monetary Fund (IMF) announced that it has reached agreement with Tbilisi in Georgia to grant additional 420 million dollars, reports BBC. This is additional funding beyond the agreed credit line amounting to 750 million dollars. The new credit line of 420 million must be approved by the Board of Directors of the IMF. Loan of 750 million was announced on September 3 and is available in the form of 18-month “stand-by arrangement, to cover the cost of the country to cover the damage caused by war with Russia. This procedure allows the Member State to draw from your general funds from the Fund to deal with temporary financial instability.
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Less than 10 months in Asia big fear was that the region will be affected by the financial crisis through the destruction of vast wealth in the U.S.. Stock markets have tumbled, and the same happened with exports and economic growth deteriorated. The conclusion of the magazine is The Time. According to British edition high prices of properties in China and other countries then decreased as conditions for mortgage loans rigor and buyers declined. Asian markets were on the verge of panic. But now, with surprising speed, the fear in Asia began to disappear after the region showed signs of recovery. Some economists warn that the balloons, which are formed from higher property prices and were flat from the recession, maybe they blow. Property prices and stock markets rise in many parts of Asia.
For example, the main stock market index in Shanghai has increased by more than 80 percent this year, while Indonesia is higher by up to 57%.
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The Japan’s trade surplus grew by 388 percent to 508 billion yen (5.43 billion dollars) in June versus the same month year earlier, taking into account the first increase on an annual basis over the past 20 months, announced today the country’s Finance Ministry, quoted of global agencies. Exports decreased by 35.7% to 4.6 trillions yen, but its pace of decline has been reported to delay reduction of 40.9 percent in May, government data show. Imports in June is less with 41.9 percent to 4.09 trillions yen, BTA writes. The exports to Japan decreased the rate of decline for all major markets and especially China with stable demand for machinery. Exports to the United States also report a favorable trend, decreasing by 37.6% compared with 45.4 percent in May.
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Question is issued by the global economic crisis made conclusions are correct, should not be a unique answer: “Yes.” In particular to say: “Not really. However, it should be known that we expect a slow and painful way out of recession, with no recurrence were excluded. Thus begins your comment Martin Wolfe in the Financial Times. The Financial crisis is now back as Wolf’s – the stock is felt recovery sites, banks increase their capital, and markets are liquid again. Panic was really finished largely due to the unprecedented attention of world leaders to the problems of the financial system. According to the latest report by the OECD for the first time since June 2007 forecasts for most developed economies have improved. These optimistic estimates were repeated and the IMF. Update of the fund suggest that the world economy will mark a growth of 2.5 percent in 2010.
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The inflation in the UK in June falls to 1.8 percent on an annual basis, thus the index of consumer prices fall below 2 percent for the first time since September 2007, says Bloomberg. In May inflation was 2.2 percent, the agency completes. On a monthly basis users price index rose by 0.3 percent. Note that the results coincided with expectations of economists. The main reason for the decline in prices has declined in value of food, clothes and soft drinks. The inflation is low, but it can be easily justified by the summer season, tourism and financial crisis. Actually inflation is giving good sign for developing of the economy, and will insert new money in economy in case of protection versus the financial fraud.
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