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• Group Forecasts Sharp Decline in World Economy
  Global economic activity will plummet by an average 4.3 percent this year, sending unemployment soaring past 10 percent while international trade falls by more than 13 percent, the a report from the O…
• Treasury Chief Says U.S. Needs New Rules of the Road for Finance
  Treasury Secretary Timothy Geithner has called for an overhaul of the U.S. financial regulatory system to reduce the likelihood of future financial catastrophes. Calling the current system “complex…
• Major Economic Powers to Focus on Global Recovery
  It remains to be seen whether the G20 summit in London April 2 will change the dynamics of current global financial rescue and recovery efforts. But developed and developing countries in the group are…
• Treasury Announces $500 Billion Program to Buy Up Bad Assets
  In another step to turn the U.S. economy around, the U.S. Treasury is launching a program to buy up about $500 billion in bad bank assets to further ease credit for consumers and businesses. “There…
• U.S. Central Bank Moves to Pump Up Economy
  The U.S. central bank, or Federal Reserve, moves aggressively to bolster the economy by injecting a huge amount of money into the financial system. It will purchase $750 billion in mortgage-backed sec…
• Is the United States Headed Toward a New Great Depression?
  With unemployment rising and stock prices falling, fears are growing that the United States may be heading into another Great Depression, similar to the 1930s. But many economists say a calamity on th…
• G20 Ministers Pledge to Continue Action on Recession
  G20 finance ministers and central bank governors have reached a “strong consensus on the need for both recovery and for reform” to deal with the global economic recession, says U.S. Treasury Secre…
• Treasury Chief Says Deepening Global Woes Require Global Response
  The global recession is deepening and recovery requires a coordinated global response, says U.S. Treasury Secretary Tim Geithner. One of the measures to aid ailing economies is to boost tenfold — to…
• World Bank: Developing Countries Facing Major Shortfalls
  In advance of the G20 economic conference of advanced and large developing economies, the World Bank issues a global forecast indicating that developing countries without adequate credit sources are f…
• Government Actions Seen Affecting Economic Recovery
  The effectiveness of actions taken by the Federal Reserve, the U.S. Treasury and other federal agencies in restoring financial stability will determine much of the timing and strength of the economic…

• White House Conference to Showcase Successes in Development Aid
  Despite global financial instability, the United States continues to seek progress in reducing global poverty, confronting disease and promoting economic opportunity in the poorest nations. “The Uni…
• American Firms Provide Help to Fight AIDS Pandemic
  U.S. pharmaceutical companies and private charities are joining governments to alleviate the plight of millions of people, mainly in sub-Saharan Africa, affected by the HIV/AIDS epidemic.  Foundation…

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