S&P Downgrades Hungary to Junk After It Defies IMF and EU
Hungary was downgraded to junk for the second time in a month, this time by S&P, after Moody's took a similar action previously, but markets reacted little to the news.
Greece’s Creditors Resist IMF Push for Bigger Losses
Greece’s creditors are pushing back against an IMF drive to get them to accept larger losses on the country’s sovereign debt, with one Madrid-based hedge fund pulling out of the debt swap talks over the matter.
Japan Denies IMF Seeking $600 Billion to Help Euro Zone
A report in the daily Nikkei paper that the G20 was putting together an IMF $600 billion lending facility to help the euro zone was denied, first by the IMF and then Canada, and then by Japan.