` IMF : Pressures mounts to give `Green Light’ to an `Aid Program ‘ for Kiev ‘

#AceFinanceNews says that the `International Monetary Fund‘ is under increasing pressure from all sides to give the green light to an aid program for Kiev, even as it risks its own credibility in doing so.

President Putin visits Ukraine and Prime Minis...

President Putin visits Ukraine and Prime Minister of Ukraine Viktor Yanukovych. (Photo credit: Wikipedia)

A team of IMF experts landed in Ukraine on Monday to launch discussions with the authorities, dissecting the economy’s problems and shaping an aid plan, even as the new government struggles with the threat of Russia in Crimea and says it needs “at least” $15 billion.

An IMF loan does not appear to be imminent but the expectation is heavy. On Sunday, finance ministers from the seven leading industrial powers — the G8 minus Russia — emphasized that the IMF is “best prepared” to lead a support program for the country.

The United States, the country with the biggest voice in the IMF, has repeatedly said the Fund should be at the heart of any rescue program.

Europe, also holding a strong voting position in the Fund, has the same view.

“No member state will move without the IMF evaluating Ukraine’s financial needs,” a European source said Monday.

The IMF said last week it was ready to respond to an official Ukraine request for help, just days after a new government took power in Kiev following the ouster of pro-Russian president Viktor Yanukovych.

But the IMF also has its strict operating rules and it must be careful not to offend some member states which have reproached it for having at times given in to Western pressures.

Under its internal rules, the IMF can only lend to a borrower in exchange for implementing austerity policies and a “viable” plan that would take the country’s public finances to the point that it will be able to repay.

#AFN2014

 

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` Standard Chartered Exiting `Certain Countries Banking and Investment Areas`due to slowdown of Emerging Markets’

#AceFinanceNews says that `Standard Chartered Bank ‘is seeking to sell about six units in Asia, Europe and the Middle East, the Wall Street Journal reported Tuesday citing people familiar with the matter.

Standard Chartered global presence 2007

Standard Chartered global presence 2007 (Photo credit: Wikipedia)

The Asia-focused bank is in “advanced talks” to offload Standard Chartered Savings Bank and Standard Chartered Capital in South Korea, the WSJ said, but gave no details of any potential buyer.

A company spokeswoman declined to comment on the report.

The newspaper added that the divestment’s were “mostly small” and would also comprise Standard Chartered’s Lebanese retail bank, its Hong Kong consumer-finance business PrimeCredit, its German consumer bank and its Swiss private bank.

According to the WSJ, the deals are part of the bank’s efforts to combat an emerging markets slowdown and worries about its financial health.

Standard Chartered will publish its annual results on Wednesday.

The London-based bank generates 90 percent of its profit in Asia, the Middle East and Africa.

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#AceFinanceNews – Just Wants to say `Thank You’ to all our `Readers’ of our News’

Just seems only a short while ago l started adding a new theme and new posts of interest in the finance market, and here we are at 500 posts and counting.

With out you my readers and friends l could not have achieved this many post.

Anyway thank you from a very humble editor, writer and friend and thanks for the 500! 🙂 WP Post Milestone of 500-2x

 

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` First there was a `New Currency ‘ called `Bitcoin’ then came `Greed ‘ now comes Taxation ‘ allowing `Greed ‘ to have its own Reward’s

#AFN2014 says link to previous post http://wp.me/pzTwj-2tk