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    Last update: December 22, 2009

    +Spotlight: Mo Ibrahim – African making the call for change
      If the World Bank's annual rankings on ease of doing business are to be believed, more African governments than not are still hampering investment. Mo Ibrahim, the Sudanese telecommunications billionaire, will be devoting part of his fortune to an attempt to turn the tables

    +IMF fails to make progress on reforms
      Rodrigo Rato bowed out as managing director of the International Monetary Fund with plaudits from world financial leaders in public but sharp criticism of his role and the Fund's relevance from the same people in private

    +IMF failure 'could cause global economic crisis'
      The failure of the IMF to agree reform increased the risk of a "huge" global economic "crisis" brought about by the disorderly unwinding of global economic imbalances, said David Dodge, governor of the Bank of Canada

    +G7 presses China over renminbi
      Finance ministers and central bank governors from the world's top economic powers raised the pressure on China to allow its currency to appreciate, with its most strongly worded statement yet

    +Oil jumps above $90 a barrel
      Crude oil prices ended an extraordinary week by rising for the first time above $90 a barrel after the dollar sank to a new low against the euro and some traders were forced to cover their bearish bets

    +World Bank rural poverty drive
      Agriculture will become a priority of World Bank research and lending after report concludes that improving growth in rural areas was best way of reducing poverty

    +Paulson hits back at 'superfund' critics
      Hank Paulson, the US treasury secretary, hit back against critics of the plan to create a $75bn-plus investment fund to buy the assets of troubled investment vehicles, suggesting it is based on a misunderstanding of how the new "superfund" would work

    +EU disappointed with Korean trade talks
      Seoul and Brussels struck downbeat notes as they concluded their fourth round of negotiations on forging a bilateral trade agreement, with wide differences of opinions remaining on autos in particular.

    +Bono takes IMF to task on Liberia
      The International Monetary Fund faced harsh criticism for failing to meet its commitment to write off $800m in debt owed by Liberia, as Ellen Johnson-Sirleaf, the country's leader, met US president George W. Bush in Washington

    +Rato stresses need for multilateral action
      The global financial turmoil of recent months highlights the interdependence of economies across the world Rodrigo Rato, the managing director of the International Monetary Fund, said

    +EU seeks accord on outside investors
      European Union governments are striving to adopt a common approach to sensitive investments by non-European sovereign wealth funds

    +Banks agree emerging market policies
      Development banks representing collective assets of$1,000bn will agree a common set of corporate governance policies to tackle corruption and promote the private sector in emerging economies

    +EU trade chief rebuked on China
      Peter Mandelson's criticisms of China for failing to play by international trade rules are unhelpful and counterproductive, according to a group of business executives touring the country

    +World Bank 'runs' scrutiny body
      A network of parliamentarians established to hold the World Bank to account is in fact run by the multilateral lending institution, according to a confidential internal report

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