IMF chief Christine Lagarde goes on trial in France on Monday over a massive state payout to a flamboyant tycoon when she was finance minister in a case that risks tarnishing her stellar career.
Lagarde denies the charges of negligence, arguing she was acting “in the state’s interest” in making the payment to Bernard Tapie, the former owner of sportswear giant Adidas and Olympique Marseille football club.
Russia will not enter into negotiations on restructuring Ukrainian debt, said Finance Minister Anton Siluanov, and Kiev must repay the $3 billion it owes Moscow in full by the December deadline.
“The $3 billion that we invested should be returned to Russia at the end of the year. We want to invest the funds in infrastructure and other projects, important to Russia. We need the money, especially in the present circumstances…Therefore we demand from our colleagues to return the full amount of the debt in accordance with the schedule,” said the minister on Monday.
Greek MPs are poised to hold a vote of confidence in the government of Alexis Tsipras after Leftist party rebels deserted the prime minister over the punishing terms of a third international bail-out agreement.
Syriza’s energy minister Panos Skourletis said it was now “self evident” that parliamentarians would decide on whether or not to continue supporting the government after a “deep wound” had been inflicted on the ruling coalition.
The International Monetary Fund has called on eurozone ministers to offer Greece debt relief, following the approval of a new bailout deal.
Greece will receive up to €86bn (£61bn) in loans over the next three years, in return for tax rises and spending cuts.
An Indian court on Wednesday summoned Manmohan Singh, India’s soft-spoken former prime minister, as one of the accused in an investigation into the illegal allocation of coal fields to Indian corporations.
Three years ago, India’s government auditor accused the Coal Ministry of selling around 200 coal field leases to private steel, cement and power companies and some government companies at artificially low prices, saying that the nontransparent process had cost the government about $34 billion. Last year, the Supreme Court ruled that the process had broken the law, and it overturned most of the allocations.