World Bank and IMF in emergency BAILOUT talks to save countries from bankruptcy over oil

Thursday, January 28, 2016
By Paul Martin

TUMBLING oil prices are plunging emerging economies into financial crisis, sparking what could be the start of a global economy meltdown.

By LANA CLEMENTS
Express.co.uk
Thu, Jan 28, 2016

The International Monetary Fund (IMF) and the World Bank are extremely worried about the financial stability of Brazil, Venezuela and Ecuador, which are heavily reliant upon oil profits.

And the two organisations are now set to discuss an emergency fund of a possible $4billion emergency to bailout Azerbaijan in what risks to become the first bailout of a country due to oil.

Iran’s neighbour has been thrown into a currency crisis thanks to falling prices.

Just 18 months ago oil prices were more than $100 a barrel but have plummeted to around $30 today.

Officials from the IMF and World Bank are now considering giving the country almost £3billion in cash, according to the Financial Times.

And it could be the first of many bailouts in the coming months.

The Rest…HERE

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