Finance ministers from around the world are gathering in Washington for the spring meetings of the International Monetary Fund and World Bank. Policy makers are confronting the twin problems of slowing world growth and rising inflation.

Executive Board of IMF agrees plan to revamp IMF income framework, which is set to put IMF budget on more sustainable footing. Institution also making $100 million in spending cuts.

The head of the International Monetary Fund Dominique Strauss-Khan says the global markets crisis poses an increasingly serious risk to economic growth.

European leaders meet in London later Tuesday to consider ways of dealing with the current international economic slowdown, including ways to prevent future turmoil.

Latin American leaders are set to inaugurate the Bank of the South on 9th Dec, the brainchild of Venezuela's President Hugo Chavez, who hopes it will help wean the region off institutions like the IMF.

The International Monetary Fund's former chief economist says China is violating its rules by keeping its currency artificially undervalued. VOA's Barry Wood reports Michael Mussa says Beijing must revalue its currency for the sake of global economic stability.

Member nations of the International Monetary Fund and World Bank will open their annual meeting in Washington Saturday in the shadow of a worldwide economic slowdown.

Former French Finance Minister Dominique Strauss-Kahn was tapped Friday to become the next head of the International Monetary Fund.

Member states of the International Monetary Fund will have to choose between an EU and Russian nominated candidate for the post of IMF managing director as the recruitment closure date is Friday.

Russian Finance Ministry said that it opposes a recommendation by the International Monetary Fund to create rules governing how oil-exporting countries use windfall oil revenue.