Any form of default could destabilize the global economy and sour already tense relations with big US creditors such as China, officials and investors warn.
Brazil's central bank raised its key interest rate for a fourth straight time on Wednesday as it seeks to rein in persistent inflation, and left the door open for further rate increases in coming months.
OPEC talks broke down in acrimony on Wednesday without an agreement to raise output after Saudi Arabia failed to convince the cartel to lift production.
Saudi Arabia faced stiff resistance on Wednesday from OPEC producers opposed to an increase in oil supplies that help ease crude prices.
The Federal Reserve does not need to consider additional monetary policy stimulus as the world's largest economy is likely to pick up in coming quarters due to growth in exports and disposable incomes.
The resignation of President Dilma Rousseff's top aide is unlikely to cause major upheaval in Brazilian financial markets on Wednesday, but it could lead to more government spending and a generally less market-friendly approach in months to come.
The New Zealand government has started work on tendering its controversial master banking contract, currently held by Australian-owned Westpac, Finance Minister Bill English said Wednesday.
Japan must tackle fiscal consolidation to reduce its debt burden in the long run in order to boost public confidence about the sustainability of its economy, IMF's acting chief said.
South Korea's money supply growth fell to a near 7-year low in April, the central bank said Thursday.
The odds of global economy now slipping into a "double-dip" recession are slim, but the ongoing global recovery is confronted with a set of lingering uncertainties, Justin Yifu Lin, the World Bank's chief economist, said here on Tuesday.
US President Barack Obama said Tuesday he worries that a Greek default on its debt could have disastrous implications for the US economy.
Global growth is projected to remain strong from 2011 through 2013, though the overall growth rate is expected to slow down slightly due to various challenges and uncertainty, according to a report released by the World Bank on Tuesday.
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