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World Economy Economic Organizations

  • ATHENS, Greece— Greece resumed long-delayed bailout talks with its creditors Tuesday as figures showed bank deposits in the cash-strapped country running at a 15- year low. Representatives from Greece's bailout inspectors in Europe and the International Monetary Fund have resumed talks with the Greek government on further reforms following a...

  • DUBAI, United Arab Emirates— Iran's economy rebounded out of a recession after the nuclear deal with world powers, the International Monetary Fund said on Tuesday, though uncertainty over future sanctions and problems plaguing the country's domestic banks could cause fiscal trouble ahead. Iran's real gross domestic product grew by 7.4 percent, buoyed by the...

  • Feb 27- Mexico's economy minister Ildefonso Guajardo warned that his country will break off negotiations on the North American Free Trade Agreement if the United States were to propose tariffs on products from Mexico, Bloomberg reported on Monday. "The moment that they say,' We're going to put a 20 percent tariff on cars,' I get up from the table," Guajardo told...

  • LISBON, Portugal— A senior European Union official says EU authorities are poised to release Portugal from tight fiscal oversight and the threat of sanctions because the country's financial health has improved. EU Commission Vice President Valdis Dombrovskis says that if statistics next month show Portugal's budget deficit has continued to fall and that...

  • WASHINGTON, Feb 23- The International Monetary Fund on Thursday urged Nigeria to step up its economic reform efforts before the opportunity for reforms becomes more limited. "Urgency is needed in implementing a coherent and credible package of monetary, fiscal and structural policies as the window for bold reforms is closing as the 2019 elections are...

  • WASHINGTON, Feb 23- The International Monetary Fund will only consider a financial contribution to the bailout program for Greece after there has been full discussion on economic reforms and debt restructuring, IMF spokesman Gerry Rice said on Thursday.

  • BERLIN— International Monetary Fund head Christine Lagarde said after talks with Chancellor Angela Merkel in Berlin that she sees no need for a "haircut" of Greek debt but that Athens needs to make "significant progress" on reforms. Athens agreed Monday to implement further reforms beginning in 2019, after the country's current third bailout has ended.

  • GENEVA, Feb 22- A global agreement to boost trade by cutting red tape and streamlining border checks came into force on Wednesday, promising a 0.5 percent lift to the world economy by 2030 even as it faces renewed protectionism from the United States. World Trade Organization Director General Roberto Azevedo hailed the start of the pact, which he said was the "...

  • LISBON, Portugal— Portugal is finding it hard to please the International Monetary Fund. Despite fighting its way out of a financial crisis, cutting the budget deficit to its lowest level in more than 40 years and boosting growth through exports, the IMF says Portugal must do more. The IMF said in a report Wednesday that Portugal must reduce its government and...

  • The presidential candidate from the anti-EU, anti-immigration National Front party is all about national sovereignty and independence. She wants France to take control of its money, subject to a referendum that would lead France out of the European Union and its shared currency. But how would France pull off a euro exit, or "Frexit"?

  • BRUSSELS— Italy's government was put on notice Wednesday that it may be sanctioned by the European Union for not getting the country's debt levels down. In a report on Italy's debt, the executive European Commission urged Rome to take more cost-saving measures, worth up to 0.2 percent of its annual GDP. In a series of tweets, Italian Finance Minister Pier Carlo...

  • As President Donald Trump pursues an "America First" agenda aimed at reversing chronic trade deficits with China, Mexico, Germany and other major trading partners, some are concerned his administration could back away from pledges to maintain an open global trading system. "I believe the Trump administration will try to leverage the IMF and the G20 to help...

  • In a phone call with Lagarde, the spokesperson said, Mnuchin also "noted the importance that the administration places on boosting economic growth and jobs in the United States, and looked forward to robust IMF economic policy advice on its member countries and tackling global imbalances." The conversation comes as officials from the Group of 20 major...

  • President Donald Trump- who says free trade treaties have cost countless thousands of American jobs- wants NAFTA to be renegotiated with a focus on cutting his country's large trade deficit with Mexico. Trump has revealed little about his intentions for NAFTA, which came into force in 1994, except that he wants to tweak the U.S. trading relationship with Canada...

  • ATHENS, Feb 21- When asked what he thought about the prospect of yet more austerity to be imposed on Greece by its international creditors, Nicos Papapetrou was fairly short. "I had better stop... because I will start swearing," 49- year old Papapetrou, a shop assistant in Athens said. Athens and its creditors- the euro zone and International Monetary Fund- agreed on...

  • ATHENS, Feb 21- When asked what he thought about the prospect of yet more austerity to be imposed on Greece by its international creditors, Nicos Papapetrou was fairly short. "I had better stop... because I will start swearing," 49- year old Papapetrou, a shop assistant in Athens said. Athens and its creditors- the euro zone and International Monetary Fund- agreed on...

  • ATHENS, Feb 21- When asked what he thought about the prospect of yet more austerity to be imposed on Greece by its international creditors, Nicos Papapetrou was fairly short. "I had better stop... because I will start swearing," 49- year old Papapetrou, a shop assistant in Athens said. Athens and its creditors- the euro zone and International Monetary Fund- agreed on...

  • ATHENS, Feb 21- When asked what he thought about the prospect of yet more austerity to be imposed on Greece by its international creditors, Nicos Papapetrou was fairly short. "I had better stop... because I will start swearing," 49- year old Papapetrou, a shop assistant in Athens said. Athens and its creditors- the euro zone and International Monetary Fund- agreed on...

  • BRUSSELS— European Union finance ministers agreed Tuesday to roll out further measures to prevent multinational companies from exploiting differences in tax rates between countries in the 28- country EU and those outside the bloc. At a meeting in Brussels, ministers backed the new rules, which will target various practices whereby large corporations can...

  • BRUSSELS, Feb 20- Euro zone finance ministers will discuss on Monday what reforms Greece must make to release new loans from the bloc's governments and get the International Monetary Fund to join the bailout. But Belgian Finance Minister Johan Van Overtveldt said on entering the meeting that a deal with Greece should not be rushed because of the European...