Zambia has turned to China for financial help because of its attractive interest rates, President Rupiah Banda said on Thursday. "We need financing at concessionary rates where possible to build the necessary infrastructure," Banda told IMF managing director Dominique Strauss-Kahn during his visit. "This is among the reasons we have looked to China for support," he added. Relations between China ...

Greece announced painful new austerity measures Wednesday, cutting salaries for government workers and raising taxes at the sales register, winning approval from the European Union as it tries to snuff out a financial crisis that threatens Europe's economy. The government also said it wouldn't rule out ...

The International Monetary Fund wants more power to police the global financial system and a bigger role in emergency financing, managing director Dominique Strauss-Kahn said Friday. The IMF is seeking to sharpen its tools to detect potentially dangerous system risks and provide a rapid response to cash flow problems, Strauss-Kahn said in a speech to the Bretton Woods Committee, a ...