sanju
04-17 01:08 PM
As per today I have an H1b visa, I have my I140 approved, and my 6th year ends on April 25, 2008. My actual employer have give a contract that says that upon I become a permanent resident i will have to work for him for 5 years, then if I quit after the 5th year or before I will not able to work on the same industry on all the united states, also mention what my salary would be but there is no mention of increase.
I do not know what to do , this is almost illegal (I think !), do I have time to change employer and do again my visa, and I140, so I don't lost status ??
I truly understand your position my friend and feel sorry to see you go though this.
Here is my suggestion -
Start going to doctor complaining for chest pains, stress, lack of sleep etc. Sign the contract and get your green card. After getting the green card, sue the employer for harassment, exploitation, metal trauma and stress by showing the medical record and visitations with the doctor. And don't worry about this contract, it is illegal and non-enforceable. So don't worry about it and sign it with closed eyes without a second thought. If I were you, I would do the exact same thing.
I think some employers are good and they take care of employees. And like everywhere else in the world, some employers are exploitative and the law doesn't provide provisions to protect/empower the H1b/non-immigrant employees. On top of that, IEEE and Ron Hira want all of us out and are working to put in harsher conditions. They are not suggesting change in law to empower us to prevent any chance of exploitation. So we need to organize ourselves and become part of one organization that could represent us all.
I do not know what to do , this is almost illegal (I think !), do I have time to change employer and do again my visa, and I140, so I don't lost status ??
I truly understand your position my friend and feel sorry to see you go though this.
Here is my suggestion -
Start going to doctor complaining for chest pains, stress, lack of sleep etc. Sign the contract and get your green card. After getting the green card, sue the employer for harassment, exploitation, metal trauma and stress by showing the medical record and visitations with the doctor. And don't worry about this contract, it is illegal and non-enforceable. So don't worry about it and sign it with closed eyes without a second thought. If I were you, I would do the exact same thing.
I think some employers are good and they take care of employees. And like everywhere else in the world, some employers are exploitative and the law doesn't provide provisions to protect/empower the H1b/non-immigrant employees. On top of that, IEEE and Ron Hira want all of us out and are working to put in harsher conditions. They are not suggesting change in law to empower us to prevent any chance of exploitation. So we need to organize ourselves and become part of one organization that could represent us all.
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BeCoolGuy
04-04 07:34 AM
Ok.. here's the link to save some of your time
http://www.visalaw.com/05may4/2may405.html
Read the section on ADJUSTMENT PORTABILITY .
Goodluck
http://www.visalaw.com/05may4/2may405.html
Read the section on ADJUSTMENT PORTABILITY .
Goodluck
lghtslpr
02-13 04:40 PM
Personalised emails will add lot off value, sending mass faxes would create more business for Fellowes in selling more shredder. I woud request u to think again before you guys spam the offices
I've been told by senators' aids that letters, faxes and email all have an impact. Politicians do not read them all, of course, but their aids summarize volume and content for them. I was told specifically that written letters carry more weight than emails, because they represent greater effort by the sender.
-L.
I've been told by senators' aids that letters, faxes and email all have an impact. Politicians do not read them all, of course, but their aids summarize volume and content for them. I was told specifically that written letters carry more weight than emails, because they represent greater effort by the sender.
-L.
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WeShallOvercome
07-23 04:26 PM
You cannot file EAD/AP without the Receipt notice. Since u will be filing it urself anyways(no layer fee involved), y dont u file it with just stating the 485File number in the covering letter, also attach the prints of the checks cashed.
I would say its worth giving a shot.
[You may also state any lame reason that u/employer/lawyer have misplaced the receipt notice in the covering letter ...try this at ur own risk]
Thanks pa_Arora
That's what I'm planning to do in the end. Just waiting for my case to be receipted. Aa friend suggested putting a copy of the FP notice as it looks just like I-485 RN and has all the information in it.
I would say its worth giving a shot.
[You may also state any lame reason that u/employer/lawyer have misplaced the receipt notice in the covering letter ...try this at ur own risk]
Thanks pa_Arora
That's what I'm planning to do in the end. Just waiting for my case to be receipted. Aa friend suggested putting a copy of the FP notice as it looks just like I-485 RN and has all the information in it.
more...
Pineapple
04-27 07:56 AM
read this:
Congressional Dems Say No Immigration Bill Anytime Soon - The Gaggle Blog - Newsweek.com (http://blog.newsweek.com/blogs/thegaggle/archive/2010/04/26/congressional-dems-say-no-immigration-bill-anytime-soon.aspx?hpid=topnews)
Congressional Dems Say No Immigration Bill Anytime Soon - The Gaggle Blog - Newsweek.com (http://blog.newsweek.com/blogs/thegaggle/archive/2010/04/26/congressional-dems-say-no-immigration-bill-anytime-soon.aspx?hpid=topnews)
nyte_crawler
05-11 01:47 PM
Some guy took most of the needed time talking about citizenship. Jeez.
more...
rkat
08-16 11:20 PM
Thanks a lot everybody for spending ur valuable time replying to my Queries.!
I applied for H1 and the contracting company (hence will be referred to X in this email) went ahead and filed for my concurrent H1 on april 1 2007. Inspite of me asking for a contract letter or offer letter i was given no offer letter or anything.! DOESN"T USCIS need to see a accepted JOB OFFER along with the I-129 petition.? Isn't that a mandatory thing..?
Anyway the H1 was filed and i recd. a email from X saying that X has paid the fees in the amount of $1440 in filing fees and $900 in attorney fees...I was elated that the H1 was filed on time...after a lot of anxiety, frustration and living in darkness about the QUOTA, etc...i recd. the RECEIPT NOTICE in May 2007...As of 8/15/07 decision reg. H1 approval is still pending at USCIS...But now of course i have filed for EAD and do not need the H1 because my current H1 job pays well and is quite secure..besides i will receive my EAD in a few months..
So i now tell X that i don't want to join u in October 1st.....X tell me to remimbure for $900 + $1440 and slaps an additional $1000 in reimbursememt costs...!!! These 1000 costs are called attorney consulation fees...!! For Q's that i had asked X to ask lawyer...These Q's had pertained to the already filed H1b....NO ATTORNEY IN USA CHARGES $1000 to ask them 4 Q's for a H1B case that has already been filed by them..!!!
So now what do i do...To follow the good samaritan law i will reimburse the 1440 + 900 to X in good faith but why should i pay the additional $1000.??? FOR WHAT..??
X has also requested from DAY1 to not contact immigration attorney directly...i respected that but i guess it's time to ask lawyer directly now...!!
How should i handle this sitaution...???? THANK YOU FOR UR HELP>.!!
I applied for H1 and the contracting company (hence will be referred to X in this email) went ahead and filed for my concurrent H1 on april 1 2007. Inspite of me asking for a contract letter or offer letter i was given no offer letter or anything.! DOESN"T USCIS need to see a accepted JOB OFFER along with the I-129 petition.? Isn't that a mandatory thing..?
Anyway the H1 was filed and i recd. a email from X saying that X has paid the fees in the amount of $1440 in filing fees and $900 in attorney fees...I was elated that the H1 was filed on time...after a lot of anxiety, frustration and living in darkness about the QUOTA, etc...i recd. the RECEIPT NOTICE in May 2007...As of 8/15/07 decision reg. H1 approval is still pending at USCIS...But now of course i have filed for EAD and do not need the H1 because my current H1 job pays well and is quite secure..besides i will receive my EAD in a few months..
So i now tell X that i don't want to join u in October 1st.....X tell me to remimbure for $900 + $1440 and slaps an additional $1000 in reimbursememt costs...!!! These 1000 costs are called attorney consulation fees...!! For Q's that i had asked X to ask lawyer...These Q's had pertained to the already filed H1b....NO ATTORNEY IN USA CHARGES $1000 to ask them 4 Q's for a H1B case that has already been filed by them..!!!
So now what do i do...To follow the good samaritan law i will reimburse the 1440 + 900 to X in good faith but why should i pay the additional $1000.??? FOR WHAT..??
X has also requested from DAY1 to not contact immigration attorney directly...i respected that but i guess it's time to ask lawyer directly now...!!
How should i handle this sitaution...???? THANK YOU FOR UR HELP>.!!
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tabletpc
08-27 09:16 AM
Thanks guys for response...
so basically in short....
I can aply for visitors visa an visit cananda while my PR is in proceess right..??
so basically in short....
I can aply for visitors visa an visit cananda while my PR is in proceess right..??
more...
Anders �stberg
May 1st, 2005, 01:04 PM
Thanks Nick!
I basically used my bird settings, I think I should probably lower the shutter speed a little, don't know how much though as I don't like blurry shots. I would like to be able to do panning with long shutter times but I'm really bad at it, the few times I've tried everything is blurry.
EDIT: Lens was 300/2.8L IS, my favourite, I went to this practice track mainly to get to use it again as it has been sitting on a shelf for a while, waiting for some summer sports. :)
I basically used my bird settings, I think I should probably lower the shutter speed a little, don't know how much though as I don't like blurry shots. I would like to be able to do panning with long shutter times but I'm really bad at it, the few times I've tried everything is blurry.
EDIT: Lens was 300/2.8L IS, my favourite, I went to this practice track mainly to get to use it again as it has been sitting on a shelf for a while, waiting for some summer sports. :)
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immigrationvoice1
01-29 11:13 AM
Class of Admission: H1B
Date of intended Departure: Any future date (3 months from now or anything..)
Expected length of stay: One month
Our attorney told us that we need to provide definite answers to the travel questions, however, we can use the document to travel multiple times. We got our APs on time.
Hope that helps.
Dear All,
I need urgent information that how to file Advance Parole application. My I485 application is pending with USCIS and now i need to travel to my country as my uncle is very sick. I am planning to fill out the application by myself and not by the lawyer as he is ripping me off. Can any one help me how to fill out the application although it seems very easy but i dont want to make any kind of mistakes.
In part 1, field (3) of the application it asks me for "Class of Admission" i am not sure wat to write in it. NEED HELP IN THIS FIELD.
In part 3, field (1) and field (2) can i write "Various" as I want my document to be valid for multiple visits OR do i need to put any date.
I also need some guidance that what kind of letter I should make where it asks that "On a separate sheet(s) of paper, please explain how you qualify for an advance parole document and what circumstances warrant issuance of advance parole. * Include copies of any documents you wish considered."
Please, please help me in this regards.
I would really appreciate if any one can help me out in this matter.
Date of intended Departure: Any future date (3 months from now or anything..)
Expected length of stay: One month
Our attorney told us that we need to provide definite answers to the travel questions, however, we can use the document to travel multiple times. We got our APs on time.
Hope that helps.
Dear All,
I need urgent information that how to file Advance Parole application. My I485 application is pending with USCIS and now i need to travel to my country as my uncle is very sick. I am planning to fill out the application by myself and not by the lawyer as he is ripping me off. Can any one help me how to fill out the application although it seems very easy but i dont want to make any kind of mistakes.
In part 1, field (3) of the application it asks me for "Class of Admission" i am not sure wat to write in it. NEED HELP IN THIS FIELD.
In part 3, field (1) and field (2) can i write "Various" as I want my document to be valid for multiple visits OR do i need to put any date.
I also need some guidance that what kind of letter I should make where it asks that "On a separate sheet(s) of paper, please explain how you qualify for an advance parole document and what circumstances warrant issuance of advance parole. * Include copies of any documents you wish considered."
Please, please help me in this regards.
I would really appreciate if any one can help me out in this matter.
more...
raysaikat
07-12 01:01 PM
Situation:
Currently working full time on H1-B with I-140 approved already with company A. Cannot file 485 due to retrogression.
Want to work with company B part time,but need to file another H1-B part time.
My question is:
Will filling for a 2nd H1-B for comapny B (part time) without talking to the lawyer of Company A affect my first H1-B in anyway what so ever. Or are the 2 cases entirely separate and will not be linked by USCIS. Thanks in advance for assisting me on this situation.
You will have to provide proof of your current H1-B status so that the concurrent H1-B can be issued as cap-exempt. There is no official need to let the first company know about the second H1-B. However I do not know if the first company could/would come to know about it at a later date.
Currently working full time on H1-B with I-140 approved already with company A. Cannot file 485 due to retrogression.
Want to work with company B part time,but need to file another H1-B part time.
My question is:
Will filling for a 2nd H1-B for comapny B (part time) without talking to the lawyer of Company A affect my first H1-B in anyway what so ever. Or are the 2 cases entirely separate and will not be linked by USCIS. Thanks in advance for assisting me on this situation.
You will have to provide proof of your current H1-B status so that the concurrent H1-B can be issued as cap-exempt. There is no official need to let the first company know about the second H1-B. However I do not know if the first company could/would come to know about it at a later date.
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nyte_crawler
03-06 02:28 PM
yes EB3 India. I think when I look back, its just a matter of luck. Once it was RFE, second time I got a second finger printing and third time they just did'nt pick it up. But USCIS has been very promptful in approving my EADs and AP. I could be very well one of the oldest processing case sitting in the TSC shelf.
(1700 days)
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admin
02-09 10:32 PM
Everyone, I am working on a way to customize the WebFax. I should be able to complete it over the weekend.
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Templarian
08-27 05:58 PM
Shaking My Head
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izolo
06-04 02:21 AM
I applied for H1-B visa on April 2007 and the petition was approved from October 2007 to 26Th of September 2010 but when I came to USA consulate office to get the visa it became pending putting under administrative processing. It took almost 3 years to get the reconfirmation and last week I received the visa.
The visa issuing date is 27Th May and the expiry date is 24Th August but there is another date in bottom right part of it as PED : 26 September 2010 which is my petition's expiry date.
Now I am planning to move to USA for a long term stay so that I am selling my stuff, renting my house,.. and I just got confused by considering this date.Does this mean my visa will be expire on September and my H1 visa is just for some months? In this case does this mean I have lost 3 years of the total 6 years of the H1 visa? or the the officer issuing the visa on I-94 form in the ports of entry can issue the visa for 3 years as a normal H1-B visa?
I have arranged with my employer to start the job on 10Th of July and I will enter USA on 8Th, so up to 26Th of September which is the PED date will be less than 3 months and if the white I-94 card that will be in my passport should correspond with the expiration of the petition, the total of my work duration, will be less than 3 months which really doesn't make sense at all but as it seems that's it!
It seems now the only way is to apply for H1-b extension. So there will be these questions:
1- how will be the process and how much are the fees?
2- How long does it take?
3- Do I have to go back to my home country to get the new stamp for extension?
4- Is there any way to renew it in USA ?
5- Is 2.5 months of work enough to apply for extension? or I have to come sooner if it is really necessary.
6- In my first interview on 2007 they got all the original documents from me and never return them back to me. should I ask for duplication?
7- Is there anything else that my employer and I should know and consider?
I have to know the answers to these questions, first to arrange with employer and to see if they are interested and also to decide about our stuff, jobs, properties,... in my home country before entring the USA, otherwise it can be the loose of everything for us.
Please help me
The visa issuing date is 27Th May and the expiry date is 24Th August but there is another date in bottom right part of it as PED : 26 September 2010 which is my petition's expiry date.
Now I am planning to move to USA for a long term stay so that I am selling my stuff, renting my house,.. and I just got confused by considering this date.Does this mean my visa will be expire on September and my H1 visa is just for some months? In this case does this mean I have lost 3 years of the total 6 years of the H1 visa? or the the officer issuing the visa on I-94 form in the ports of entry can issue the visa for 3 years as a normal H1-B visa?
I have arranged with my employer to start the job on 10Th of July and I will enter USA on 8Th, so up to 26Th of September which is the PED date will be less than 3 months and if the white I-94 card that will be in my passport should correspond with the expiration of the petition, the total of my work duration, will be less than 3 months which really doesn't make sense at all but as it seems that's it!
It seems now the only way is to apply for H1-b extension. So there will be these questions:
1- how will be the process and how much are the fees?
2- How long does it take?
3- Do I have to go back to my home country to get the new stamp for extension?
4- Is there any way to renew it in USA ?
5- Is 2.5 months of work enough to apply for extension? or I have to come sooner if it is really necessary.
6- In my first interview on 2007 they got all the original documents from me and never return them back to me. should I ask for duplication?
7- Is there anything else that my employer and I should know and consider?
I have to know the answers to these questions, first to arrange with employer and to see if they are interested and also to decide about our stuff, jobs, properties,... in my home country before entring the USA, otherwise it can be the loose of everything for us.
Please help me
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smiledentist
10-26 01:16 PM
thanks arnet
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sanjay02
10-17 02:19 PM
I had a interview in Feb 2009 , keep all the documents ready. Your wife and youself can go at the same time.
1) Marriage certificate( If ur married :-))
2) All your transcripts for your schools
3) Passports
4) H1-B, EAD, AP copies, I-485 receipt # copies.
5) Any other communications you had with USCIS copies of it.
6) W-2 for last 3 yrs( if you have them), pay slips.
7) Employment letter from your employer
8) AC-21 etc.
9) Copies of your utilities bill, mortgage/lease papers.
10) Birth certificate of all applicants.
11) Family photos etc ( optional).
Interview will be in the 2nd floor not more than 20 or 25 mins. Take an lawyer/attorney with you if necessary.
Thnks
1) Marriage certificate( If ur married :-))
2) All your transcripts for your schools
3) Passports
4) H1-B, EAD, AP copies, I-485 receipt # copies.
5) Any other communications you had with USCIS copies of it.
6) W-2 for last 3 yrs( if you have them), pay slips.
7) Employment letter from your employer
8) AC-21 etc.
9) Copies of your utilities bill, mortgage/lease papers.
10) Birth certificate of all applicants.
11) Family photos etc ( optional).
Interview will be in the 2nd floor not more than 20 or 25 mins. Take an lawyer/attorney with you if necessary.
Thnks
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seekerofpeace
09-14 11:15 PM
APB,
Your case is prior to me in terms of PD. Almost all my 2004 friends are approved. While I am approved but no cards becoz of biometrics issue...wife's is still pending.
Are you a transfered case too? Did you take any infopass apt etc what did u learn.
I am not sure what more I can do to help move my wife's case...I am one of the extremely rare half approval cases...almost everyone I know of all the dependents got approved with the primary applicant.
Cheers
SoP
Your case is prior to me in terms of PD. Almost all my 2004 friends are approved. While I am approved but no cards becoz of biometrics issue...wife's is still pending.
Are you a transfered case too? Did you take any infopass apt etc what did u learn.
I am not sure what more I can do to help move my wife's case...I am one of the extremely rare half approval cases...almost everyone I know of all the dependents got approved with the primary applicant.
Cheers
SoP
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marlon2006
09-14 12:30 PM
Growth could high, but economy is so small that would not necessarily make a lot of absolute difference. That said, sorry to tell you I heard that type of stories years ago when I landed in Canada in 1998. That's my personal opinion.
Good luck though.
http://www.cbc.ca/story/money/national/2006/09/14/imf-useconomy.html
Canadian economic growth to be best in G7 in 2007: IMF
Last Updated Thu, 14 Sep 2006 07:59:50 EDT
CBC News
Canada's economy is poised to grow by 3.0 per cent next year, giving it the fastest growth among the G7 countries, the International Monetary Fund said Thursday in its semi-annual World Economic Outlook.
Canada's status as a major net exporter of energy will likely be enough to insulate it from the slowdowns that the IMF is forecasting for the U.S. and Europe.
The biggest risks to the Canadian growth story next year include a "substantial" further rise in the Canadian dollar or a "sharper-than-expected" slowing of the U.S. economy, as more than 80 per cent of Canada's exports are to the U.S.
"The Canadian economy continues to perform robustly, benefiting from its strong macroeconomic policy framework and the boom in global commodity prices,'' the IMF said.
A cooling housing market is likely to trigger the slowdown in the U.S. economy next year and could weigh on the global economy as well, it said.
Growth in the United States, which was particularly strong in the first half of this year, is expected to slow from 3.4 per cent this year to 2.9 per cent in 2007, the IMF said. In April, it had projected U.S. growth next year would reach 3.3 per cent.
"The concern remains that a sharp adjustment in the housing sector would generate strong headwinds for the U.S. economy," it said.
IMF pegs China's economic growth at 10%
Citing strong growth in China, the IMF raised its global growth forecast a quarter of a percentage point to 5.1 per cent this year and 4.9 per cent in 2007. But it warned that inflationary pressures, high oil prices and a possible abrupt slowdown in the U.S. could undermine global growth.
"The balance of risks to the global outlook is slanted to the downside," said the report, released in Singapore, where the IMF and World Bank will be holding their annual meetings next week.
The Washington-based fund also suggested that further U.S. interest rate hikes might be necessary.
The U.S. Federal Reserve "faces a difficult situation of rising inflation in a slowing economy, but given the importance of keeping inflation expectations in check, some further policy tightening may still be needed," it said.
In August, the Fed decided to keep its key short-term lending rate at 5.25 per cent after 17 straight hikes back to June 2004.
The IMF said "there will be a premium on the Federal Reserve clearly communicating its policy intentions" and suggested that it state more explicitly its medium-term inflation targets.
It also said the U.S. could help reduce global imbalances by setting a more ambitious deficit reduction path and put the budget in a stronger position to respond to future economic downturns.
Japan, the world's second-largest economy, will likely grow 2.7 per cent this year on the back of solid domestic demand, but should ease next year to 2.1 per cent, the IMF said.
It also said Japan should be careful to raise interest rates gradually to avoid a "costly" re-emergence of deflation, or falling prices.
In the euro area, stronger corporate balance sheets have helped bring about increased investment, rising employment and a more balanced expansion to the 12 countries that use the common currency, the report said.
Growth would rise to 2.4 per cent in 2006 before moderating to two per cent in 2007 largely due to scheduled tax increases in Germany, the report said.
China's sizzling economy will probably steam ahead with 10 per cent growth this year and next, propelled by surging exports, but the region could be hurt if China's investment boom sours, it warned.
The IMF also urged Beijing to raise the value of its currency, the yuan, saying that would help to cut its huge global trade gap � on pace this year to surpass last year's $102 billion US � and bolster households' purchasing power.
Growth in India, emerging as Asia's other major engine, would moderate to a still robust 8.3 per cent this year and 7.3 per cent next year.
Latin American economies would continue to lag behind other emerging economies, although growth prospects have increased in the region, with expansion expected at 4.75 per cent this year and 4.25 per cent in 2007.
Inflation in advanced economies was likely to increase modestly to 2.6 per cent in 2006 but start to decline next year as the upward impetus from oil price increases eases. Emerging markets would probably also be able to contain inflation pressures, it said.
The IMF was established in 1945 to help promote the health of the world economy. It works to foster economic and financial stability, prevent crises and can aid countries in trouble.
With files from the Associated Press
Good luck though.
http://www.cbc.ca/story/money/national/2006/09/14/imf-useconomy.html
Canadian economic growth to be best in G7 in 2007: IMF
Last Updated Thu, 14 Sep 2006 07:59:50 EDT
CBC News
Canada's economy is poised to grow by 3.0 per cent next year, giving it the fastest growth among the G7 countries, the International Monetary Fund said Thursday in its semi-annual World Economic Outlook.
Canada's status as a major net exporter of energy will likely be enough to insulate it from the slowdowns that the IMF is forecasting for the U.S. and Europe.
The biggest risks to the Canadian growth story next year include a "substantial" further rise in the Canadian dollar or a "sharper-than-expected" slowing of the U.S. economy, as more than 80 per cent of Canada's exports are to the U.S.
"The Canadian economy continues to perform robustly, benefiting from its strong macroeconomic policy framework and the boom in global commodity prices,'' the IMF said.
A cooling housing market is likely to trigger the slowdown in the U.S. economy next year and could weigh on the global economy as well, it said.
Growth in the United States, which was particularly strong in the first half of this year, is expected to slow from 3.4 per cent this year to 2.9 per cent in 2007, the IMF said. In April, it had projected U.S. growth next year would reach 3.3 per cent.
"The concern remains that a sharp adjustment in the housing sector would generate strong headwinds for the U.S. economy," it said.
IMF pegs China's economic growth at 10%
Citing strong growth in China, the IMF raised its global growth forecast a quarter of a percentage point to 5.1 per cent this year and 4.9 per cent in 2007. But it warned that inflationary pressures, high oil prices and a possible abrupt slowdown in the U.S. could undermine global growth.
"The balance of risks to the global outlook is slanted to the downside," said the report, released in Singapore, where the IMF and World Bank will be holding their annual meetings next week.
The Washington-based fund also suggested that further U.S. interest rate hikes might be necessary.
The U.S. Federal Reserve "faces a difficult situation of rising inflation in a slowing economy, but given the importance of keeping inflation expectations in check, some further policy tightening may still be needed," it said.
In August, the Fed decided to keep its key short-term lending rate at 5.25 per cent after 17 straight hikes back to June 2004.
The IMF said "there will be a premium on the Federal Reserve clearly communicating its policy intentions" and suggested that it state more explicitly its medium-term inflation targets.
It also said the U.S. could help reduce global imbalances by setting a more ambitious deficit reduction path and put the budget in a stronger position to respond to future economic downturns.
Japan, the world's second-largest economy, will likely grow 2.7 per cent this year on the back of solid domestic demand, but should ease next year to 2.1 per cent, the IMF said.
It also said Japan should be careful to raise interest rates gradually to avoid a "costly" re-emergence of deflation, or falling prices.
In the euro area, stronger corporate balance sheets have helped bring about increased investment, rising employment and a more balanced expansion to the 12 countries that use the common currency, the report said.
Growth would rise to 2.4 per cent in 2006 before moderating to two per cent in 2007 largely due to scheduled tax increases in Germany, the report said.
China's sizzling economy will probably steam ahead with 10 per cent growth this year and next, propelled by surging exports, but the region could be hurt if China's investment boom sours, it warned.
The IMF also urged Beijing to raise the value of its currency, the yuan, saying that would help to cut its huge global trade gap � on pace this year to surpass last year's $102 billion US � and bolster households' purchasing power.
Growth in India, emerging as Asia's other major engine, would moderate to a still robust 8.3 per cent this year and 7.3 per cent next year.
Latin American economies would continue to lag behind other emerging economies, although growth prospects have increased in the region, with expansion expected at 4.75 per cent this year and 4.25 per cent in 2007.
Inflation in advanced economies was likely to increase modestly to 2.6 per cent in 2006 but start to decline next year as the upward impetus from oil price increases eases. Emerging markets would probably also be able to contain inflation pressures, it said.
The IMF was established in 1945 to help promote the health of the world economy. It works to foster economic and financial stability, prevent crises and can aid countries in trouble.
With files from the Associated Press
priderock
07-11 04:55 PM
Expecting help from Cheney ?:confused:
venky08
10-30 06:15 PM
bump
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