InfoAnda - Global financial crisis to cost $4 trillion: IMF

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Swedish Students Rally For Construction Of A Beer Pipeline | 21 January 2010
Indonesian rock star surrenders over web sex clips | 22 June 2010
Brussels attacks Moody's over Greece downgrade | 15 June 2010

"Star Trek" beams up $72.5 million in first weekend | 11 May 2009

">Forum Views () ">Forum Replies ()

Read more with google mobile : Global financial crisis to cost $4 trillion: IMF

Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: Global financial crisis to cost $4 trillion: IMF AFP - Wednesday, April 22 WASHINGTON (AFP) - - The International Monetary Fund Tuesday raised its estimate of losses from the global financial and economic crisis to more than four trillion dollars due to writedowns on soured credit. ADVERTISEMENT The IMF said the total estimated cost of 4.054 trillion dollars includes 2.712 trillion dollars in losses in US-originated assets. Losses on European-originated assets were estimated at 1.193 trillion dollars and those of Japanese-originated assets at 149 billion dollars. The total cost represents what was needed and would be needed by financial institutions because of the deterioration in credit, in particular in the plunge in the value of equities backing credit, such as mortgage loans, as the global economy suffers the worst contraction in six decades. The estimate, which covers the period from the beginning of the financial crisis in mid-2007 to 2010, was published in the IMF's latest semi-annual Global Financial Stability Report (GFSR). The IMF's previous update in January of a projected loss of 2.200 trillion dollars was based exclusively on US-originated assets, as had been the October 2008 GFSR estimate of 1.4 trillion dollars. "The global financial system remains under severe stress as the crisis broadens to include households, corporations, and the banking sectors in both advanced and emerging market countries," the IMF said. "Shrinking economic activity has put further pressure on banks' balance sheets as asset values continue to degrade, threatening their capital adequacy and further discouraging fresh lending," the 185-nation institution said. The IMF projected that banks will bear 2.470 trillion dollars, or 61 percent, of the total losses and said that two-thirds of them have yet to be declared. "Loss recognition is incomplete and capital is insufficient under a recession scenario," the IMF said. "Other financial institutions including pension funds and insurance companies also have significant credit exposures," it added. US pension funds alone may have to write down "at least" 200 billion dollars on their credit exposures, in addition to their losses in equity assets, the IMF said. Pointing to "early signs of stabilization" in the global financial system, the Washington-based institution said that "further decisive and effective policy actions and international coordination are needed to sustain this improvement, to restore public confidence in financial institutions, and to normalize conditions in markets." "Policy actions have prevented an even deeper crisis, but the limited market improvement to date has been insufficient to prevent the onset of the adverse feedback loop with the real economy," it said. "Credit deterioration could substantially deepen for European banks in particular, including through their exposure to emerging Europe." The IMF economists calculated that for banking systems to be recapitalized to pre-crisis levels, 275 billion dollars would be needed in the United States and 600 billion dollars in Europe. To return to mid-1990s levels, the amounts would rise to 500 billion dollars in the US and 1.2 trillion dollars in Europe. The IMF said it was not opposed to the nationalization of troubled banks, as evidenced by its financial rescue of Iceland after the government seized three banks in October. Due to some banks' "current inability to attract private money ... temporary government ownership may thus be necessary, but only with the intention of restructuring the institution to return it to the private sector as rapidly as possible," the GFSR said. Email Story IM Story Printable View Blog This Recommend this article 0 users recommend Sign in to recommend this article » Most Recommended Stories » Most Popular – Top Stories Viewed Robust profits mask problems in bank sector Warming pushes birds to migrate farther 'Silent' heart attacks go unnoticed: study Physicist Stephen Hawking 'very ill': university Police nab Norwegian pair during high-speed sex View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

Other News on Wednesday, 22 April 2009
U.S. nudges Israel on Palestinian state
UN warns of new highs for Afghan drug production
Iraq: No long-term role for ex-Blackwater units
South Africa votes with ANC set to sweep polls
Federal judge hears challenge to Iraq war
Britain to unveil crunch 2009 budget
Spring is here, violence is down: Time to marry
New York touts climate-saving plan to lock away CO2
Iran says U.S.-Iranian reporter appeals jail term
Charred meat linked to pancreatic cancer risk
Israel marks Holocaust seething over Iran
Spanish female mountaineer bids for 12th top peak
French police round up 200 migrants in Calais
Global financial crisis to cost $4 trillion: IMF
Iran warns Israel not to attack nuclear sites
Fraud probes dog US bank bailout
German economic indicator turns positive
High cost of addressing climate change challenged
Pelosi vows climate bill this year
Fidel Castro dampens hopes for better US-Cuba ties
Top US officials shaped 'torture' policy: report
Bush-era officials could face trial
India adds record 15.6 million mobile users in March
NBA highlights go mobile via Score Media iPhone app
CIA kidnap trial to resume in Italy
Obama, McCain Web campaign chiefs face off
Some cities make gains in curbing dropouts
U.S. to create cybersecurity military command: report
Prosecution rests in trial of deputy US marshal
Google lets people influence searches on their names
Yahoo's feeble 1Q triggers nearly 700 more layoffs
Oracle embarks on Sun courtship, troops cheer
British police release Pakistani terror suspects
reports sagging profit and job cuts
Graduation rate breakdown by city
Africa's first ladies urge education, health care
More red ink: Times Co. posts $74.5 mln loss
French police swoop on 200 Calais migrants
Fla. county declares emergency over economy
Belgians develop cuddly robot to help sick children
Cisco offering computing cloud protection
SKorean serial killer sentenced to death
Maoists take 300 hostage on India train
New Japan mission to hunt minke whales
Depeche Mode to hold free concert in Hollywood
X-Men's Jackman leaves prints in 'Walk of Fame'
Japan to inject funds into ailing companies
Lawmaker: Pakistani Taliban spread from Swat
Hugh Jackman sinks hands into Hollywood history
S.Korea fin min: not time yet to reduce liquidity
Australia intercepts new refugee boat
Bale, Wahlberg get in the ring for 'Fighter' movie
Aegon to sell Taiwan unit for 65 mln euros
Maoists hijack Indian train
Hollywood eyes more 'Da Vinci Code' dollar signs
HCL Technologies profit down by half on forex loss
Suspected rebels hijack train in India before vote
India's Wipro says 4Q profit up 4 percent
SKorean ex-president 'a prisoner of the press'
Japan's exports dive 46 percent in March
Taliban move to expand control in NW Pakistan
Icelanders' belts tighten but solidarity soars
China labour disputes rise as economy slows
Swat Taliban head into nearby Pakistani district
Mobile service Flo TV nabs Amanda Congdon series
Thai auto sales down almost 38 pct: industry
Study details positive economic impact of showbiz
Tribeca Film Fest bows amid turbulent times
Japan's export slump eases, fanning recovery hopes
Cowell says he'd jump ship if "Idol" sinks
Nomura plans to set up S.Korea fund management JV
Warner Bros. No. 1 at U.S. box office for year so far
Harris, Winstone cast in Ian Dury biopic
Court denies Blagojevich travel request for TV show
"Calendar Girls" remains a crowd-pleaser onstage
Depeche Mode to hold free concert in Hollywood
Indonesian president denies overseeing poll fraud
South Africans vote in toughest test for ANC | International |
Iran wants 'constructive' talks on nuclear program
Sri Lankan war in endgame, 95,000 escape rebel zone | International |
Israel denies violating international law in Gaza
Iran says ready for talks, won't halt nuclear work | International |
Iran says ready for talks
Afghan Taliban say claim of talks is propaganda | International |
Egypt intel chief in Israel for talks with govt
Fertility doctor on brink of cloning human: report
Two Koreas square off over arms trade and border | International |
Crisis pounds auto giants as British economy tanks
Somali president advises against hitting pirate bases | International |
Global slowdown hits Volkswagen hard
India Maoists briefly hijack train ahead of poll day | International |
Ahmadinejad condemns Israel again after UN walk-out | International |
Fears grow for civilians in Sri Lanka conflict
House climate hearings put Obama team on hot seat
FEMA nominee promises to improve agency response
Zimbabwe's state media taunts US ambassador
Letter defends US reporter jailed in Iran
Sierra Leone sends 3 to US to face drug charges
Mixed earnings reports weigh Wall Street
White House cars fuel-efficient but not waterproof
Erie officer: Videotaped remarks were embellished
Israel razes Palestinian house in East Jerusalem | International |
Prosecutors say teen pirate was brazen ringleader
History overshadows hope on Turkey's Armenian border | International |
AP NewsAlert
Ex-Columbia prof in noose case sues for $200M
Yahoo to cut 5 percent of jobs | Technology |
Lockheed says F-35 classified data not breached | Technology |
India adds record 15.6 million mobile users in March | Technology |
German cabinet backs new law against child porn | Technology |
Belgians develop cuddly robot to help sick children | Technology |
U.S. to create cybersecurity military command: report | Technology |
Khmer Rouge defendant: Pol Pot feigned ignorance
EU assembly adopts new price curbs on phone calls | Technology |
Japan on top in AFC Champions League
Cisco offers security for cloud computing | Technology |
K.Rouge prison chief says he was duped by UN
Music website MUZU signs Universal deal | Technology |
Afghanistan: Top US military officer honors troops
EU states, lawmakers on Internet collision course | Technology |
Tibet tourism recovering after last year's riots
Filipino governor orders Red Cross hostage rescued
Former Macau minister gets 28 years for corruption
N.Korea has world's largest artillery force: US
China to invest $9.5B to help farmers amid slump
Tourists returning to Tibet despite heavy security
IMF: Asia could see 'modest recovery' in 2010
Deep blue lakes become Afghanistan's first park
IMF says Asia could see 'modest recovery' in 2010
Taiwan's jobless rate hits record high of 5.8 pct
China automakers still stretching to expand abroad
Taiwan's Asustek plans T$2/shr cash div, 0.2 pct stock div
US-ENTERTAINMENT Summary
Pakistani 6-mth T-bill cut-off yield at 13.0737
Audrey Tautou leads Chanel screen blitz
ILO: unemployment, social crisis looms in Asia
Royal opera recruits Domingo to ride out recession
Vietnam inflation cools to 9.2 percent in April
Audrey Tautou leads Chanel screen blitz | Entertainment |
"State of Play" premieres in London
India's Wipro reports rise in profit
Cowell says he'd jump ship if Idol sinks | Entertainment |
Damien Hirst opens largest show in Kiev
Indian police clear Slumdog child star's father | Entertainment |
Hugh Jackman sinks hands into Hollywood history | Entertainment |
Royal opera recruits Domingo to ride out recession | Entertainment |
Richie Havens concert to mark Woodstock anniversary | Entertainment |
Lollapalooza Festival unveils 2009 lineup | Entertainment |
Director Ron Howard defends Angels & Demons | Entertainment |
Mobile service Flo TV nabs Amanda Congdon series | Entertainment |
Warner Bros. No. 1 at U.S. box office for year so far | Entertainment |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01