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bloomberg.com - 6/8/2009
IMF Says New Reserve Currency to Replace Dollar Is Possible
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June 6 (Bloomberg) -- The International Monetary Fund said it’s possible to take the “revolutionary” step of creating a new global reserve currency to replace the dollar over time. The IMF’s so-called special drawing rights could be used as the basis for a new currency, First Deputy Managing ...
ft.com - 6/2/2009
FT.com / US & Canada - US dollar backed as reserve currency
— ft.com — A leading Chinese financial official on Monday rejected suggestions the US dollar could be replaced quickly as... the global reserve currency, as US Treasury secretary Tim Geithner arrived in China on his first official visit. “In the short term I don’t ... (more) FT.com / US & Canada - US dollar backed as reserve ...

Comments vote down FT Alphaville found this 6/2/2009found this
imf.org - 6/3/2009
IMF Survey: Latvia Caught in Vicious Economic Downturn
— imf.org — global financial crisis Latvia Caught in Vicious Economic Downturn By Camilla Andersen IMF Survey online May 28,... 2009 L atvia is in a deep recession, with the economy projected to contract this year by more than 15 percent. Plunging revenues are ... (more) IMF Survey: Latvia Caught in Vicious Economic Downturn

Comments vote down Latvia Economy Watch found this 6/3/2009found this
latviaeconomy.blogspot.com - 6/3/2009
Latvia - Devalue Now or Devalue Later?
— latviaeconomy.blogspot.com — The Latvian economy is certaily stuck in a hard and not especially pleasent place at the moment,... and really one chart tells it all, as local interbank overnight interest rates storm upwards and through the roof (see chart above). As a result of this unfortunate state of affairs the country has ... (more) Latvia - Devalue Now or Devalue Later?

Comments vote down Edwardhugh Edwardhugh posted 6/3/2009posted this

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Finance Trends Matter:  Creating a new reserve currency

The Big Picture:  Words from the investment wise June 14, 2009

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Creating a new reserve currency
Finance Trends Matter — There is a growing buzz over the possibility that the IMF will create a new global reserve currency based on special-drawing rights (SDRs) to replace the US dollar. Bloomberg reports on the proposed new reserve currency: "The International Monetary Fund said it’s possible to take the “revolutionary” step of creating a new global reserve currency to replace the dollar over time. The IMF’s so-called special drawing rights could be used as the basis for a new currency, First Deputy Managing Director John Lipsky told a ...

Words from the investment wise June 14, 2009
The Big Picture — Words from the (investment) wise for the week that was (June 8 – 14, 2009) “Words from the Wise” this week comes to you in a shortened format as “day-job” responsibilities precludes me from doing a comprehensive commentary. However, a full dose of excerpts from interesting news items and quotes from market commentators is provided. Signs of stability characterized trading on financial markets during the past week. As investors placed their bets on a global economic recovery, equities, base metals and crude oil made further headway, with long-term government bond yields remaining at elevated levels, but ...

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Latvia's economic woes: Lat in the lurch — The Economist: Full print edition 6/11/2009
Vultures are circling over Latvia LIKE many small countries, Latvia has struggled to attract outsiders’ attention. Now it is famous, and hating it. The economic contraction—GDP down nearly a fifth, imports and exports down by more than ...
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