Senegal's President Abdoulaye Wade has admitted giving a "farewell gift" of some 133,000 euros to the International Monetary Fund's outgoing agent in the country, but denies any influence-peddling.
At the World Bank and the IMF Annual meetings in Istanbul, Ngozi Okonjo-Iweala Managing director of the World Bank, discussed the necessary steps to fight poverty and promote development, after the worst recession since the Great Depression.
Turkish police have detained scores of demonstrators and used tear gas and water canons to break up street protests in Istanbul, where the International Monetary Fund and the World Bank are holding their annual meetings.
The expansion of the International Monetary Fund's role was left unclear this Sunday after finance chiefs failed to come to an agreement over how much power developing nations should have in the Washington-based financial institution.
At the World Bank's and the IMF's annual meetings in Istanbul, Robert Zoellick, president of the World Bank, discussed the necessary steps to recovery after the worst recession since the Great Depression.
A protester threw a shoe at the IMF's managing director, Dominique Strauss-Kahn, as he made a speech to university students in Istanbul ahead of the annual meetings between the IMF and World Bank next week.
The International Monetary Fund has upgraded its outlook for the global economy as growth turns positive again. The Washington-based institution said government efforts to boost demand had helped reverse the downturn.
The Group of 20 nations gathering in the city of Pittsburgh have agreed on a five percentage point shift in International Monetary Fund voting power from richer countries to emerging economies, EU officials say.
Germany's central bank will lend 15 billion euros to the International Monetary Fund, beefing-up the Washington-based institution's capacity to assist poor countries in the current global economic crisis.
The International Monetary Fund executive board approved on Friday the sale of 403 tonnes of gold worth 13 billion dollars. The money will boost the institution's capacity to lend to poor countries.
