The fund seeks to soften effects of the financial collapse, but many Asian leaders - citing bad advice from the '97 crisis - are wary of conditions attached to assistance.
AP - The market's positive reaction to President-elect Barack Obama's choice of treasury secretary was gratifying, a top Obama adviser said Sunday, and set the stage for a massive economic aid plan in January.
AP - Iraq needs an agreement allowing U.S. troops in the country through 2011, two Cabinet members said Sunday, arguing that the pact will keep violence at bay and help the national economy recover from years of bloodshed and isolation.
Former Treasury Secretary Lawrence Summers, who lost out to New York Federal Reserve President Timothy Geithner for the Treasury post, is expected to be the top economic adviser in the Obama White House, according to two sources close to the transition.
Somali militants have vowed to rescue a Saudi supertanker that was hijacked by pirates a week ago, according to residents of a town where the pirates are believed to be based. The fighters told residents in Harardhere, Somalia, they would battle the pirates because the tanker -- loaded with 2 million barrels of oil -- is owned by a Muslim country and should not have been taken, Mohamed said.
One man died and another was in serious condition Saturday evening after they were shot at a shopping center in Tukwila, Washington. A search for the shooter is currently under way, a police spokesman said.