Banks still don t trust each other, since each wonders how many skeletons the other has in its closet.

With high prices for crude oil and natural gas bloating its coffers, Russia is once again aggressively confronting the small and still relatively weak states that fled the eroding Soviet empire 15 years ago.

In paragraph 211 of its report, the Board recommended that the United Nations (a) review its treasury operations at offices away from Headquarters, and (b) promptly establish formal guidelines, procedures and investment committees in liaison with the concerned funds and programmes.

Playing upon such hopes, China has been both coy and demanding. Without committing itself to any substantive assistance, the Chinese government has publicly demanded that the European Union grant China the coveted status of market economy if it expects China to loosen its purse strings.