The International Monetary Fund has warned of significant risks to the world economy from the European debt crisis and excessive fiscal tightening in some rich nations, urging collective action to low

Europe won support from world leaders on Tuesday for an ambitious but slow-moving overhaul of the eurozone, even as pressure built in financial markets for quicker solutions to its debt crisis that th

After years of pressure to take a greater role in global affairs, China and India have stepped up by contributing to a new IMF emergency fund -- from which the United States is absent.

China, India a

India may not be called upon to inject USD 10 billion (Rs 55,000 crore) it has committed to the IMF for bailing out debt-wrecked eurozone if the global economic situation improves.

"The amount

Leaders of emerging economies said on Monday that they wanted the IMF to put in place reforms to increase their influence before they step up contributions to a fund to prevent future crises.

Leaders

India and Russia each pledged $10 billion on Monday for an IMF firewall meant to prevent future crises, marking a new level of commitment by emerging economies as they seek a greater voice.

At a summ

Prime Minister Manmohan Singh on Tuesday said his government is determined to take 'tough' decisions, including on controlling subsidies, to reverse the expansion of the fiscal deficit, even as he exp

Led by China, emerging economies pledged huge sums to the International Monetary Fund's global firewall on Monday, helping it raise $456 billion in resources as the eurozone crisis rages.

In a clear

India's economic woes have not gone out of hand in the wake of the slip in the GDP growth -- the lowest in nearly 9 years -- but there could be trouble if the Eurozone crisis is not quickly contain

After searching for months for cash, the IMF looks able to firm up a huge emergency 'firewall' fund for crisis prevention after China said on Sunday that big emerging economies would chip in.

A day b