Economy, International Monetary Fund | featured news

Afghanistan said on Sunday it won't be able to address a key International Monetary Fund concern over a looming cash crisis, sparked by a corruption scandal at a failed bank, for more than a month because lawmakers are on holidays.

The International Monetary Fund cut its forecast for U.S. economic growth on Friday and warned Washington and debt-ridden European countries that they are "playing with fire" unless they take immediate steps to reduce their budget deficits.

Portugal will elect a new government on Sunday which will lead the country through a period of deep austerity and recession after it received a 78-billion-euro ($114 billion) bailout from the European Union and IMF.

The Belgian finance minister and International Monetary Fund suggested that the scope of measures to stabilize the euro should be strengthened.

Greece reached agreement with the European Union and the International Monetary Fund on rescue loans to keep Athens from defaulting on its debts, a deal that will impose harsh cuts on the county's 11 million people for years.