World Economy Economic Organizations

  • PARIS— The French government has presented a 2017 budget plan that includes 1 billion euros in tax cuts expected to benefit 5 million low and middle-income households. The International Monetary Fund forecasts a more modest 1.2 percent growth next year. Finance minister Michel Sapin stressed Britain's decision to leave the European Union in June has "...

  • Treasury Secretary Jack Lew said major emerging market countries should be better able to anticipate a U.S. interest rate hike because of the Federal Reserve's clear communications, a recapitalized International Monetary Fund and efforts to coordinate monetary and fiscal policies. Lew told Reuters in an interview late Monday that G20 finance ministers...

  • MANILA, Philippines— The Asian Development Bank says the economies of developing countries in Asia are holding up despite stubborn global headwinds, and that earlier forecasts that the countries as a group will grow 5.7 percent in 2016 and 2017 remain unchanged. Growth in the five largest economies in Southeast Asia was forecast at 4.8 percent in 2016, the...

  • BEIJING- Asian Development Bank releases its flagship economic publication, its Asian Development Outlook 2016- 0200 GMT MANILA- Central Bank of the Philippines monetary board member Valentin Araneta addresses 2016 Philippine investment conference on "Sustaining Development in a World of Policy Divergence" PRAGUE- Czech National Bank board member Tomas...

  • FRANKFURT, Germany— The president of the European Central Bank says both markets and the economy have been "resilient" in the wake of Britain's vote to leave the European Union. But Mario Draghi cautioned members of the European Parliament in Brussels on Monday that the long-term effects of the breakup "will be much more difficult to foresee."

  • WASHINGTON— THE ISSUE: Tepid income growth and shrinking opportunities for blue-collar workers have kept many Americans anxious about jobs and the economy, seven years after the Great Recession ended. He promises to bring those jobs back by renegotiating the NAFTA agreement with Canada and Mexico, withdrawing from a proposed Pacific trade pact with 11 other...

  • As if European politicians did not have enough on their plates grappling with Britain's exit from the European Union, Italy will start the countdown towards a high-stakes referendum on constitutional reform. With polls suggesting the vote-- expected in November or December-- could be close, and Prime Minister Matteo Renzi having staked his job on the vote, the...

  • MOSCOW, Sept 23- International tax cooperation will be in focus alongside the global economy a meeting of finance ministers from the Group of 20 developed and developing nations in Washington next month, Russia's top financial diplomat said on Friday. The G20 ministers meet in Washington on Oct. 6, on the eve of the World Bank/ IMF annual meetings, weeks after a G20...

  • ATHENS, Greece— The International Monetary Fund on Friday painted a bleak outlook for bailout-dependent Greece, where it said it expects unemployment to stay in the double digits for more than three decades. Greece's economy is under constant scrutiny from its bailout creditors, the IMF and European governments and institutions. They include an energy...

  • BRUSSELS— Talks for a massive free trade deal between the United States and European Union, the world's biggest economies, appear to be on the rocks. An accord was supposed to breathe new life into global trade, setting a shining example for other countries as they debate whether to knock down barriers to commerce or insulate their home industries.

  • BERLIN— German and French economic and financial leaders are meeting for talks focused on the strengthening of growth and investment in Europe, and the impact of Britain's vote to leave the European Union. The Berlin talks Friday, a regular meeting of the Franco-German Financial and Economic Council founded in 1988, brings together the economy and finance...

  • BAGHDAD— Iraq's Oil Minister said his country supports any deal to prop up oil prices in the international market ahead of next week's meeting of oil producers in Algeria, adding that fluctuating prices have badly affected the producers. Members of the Organization of the Petroleum Exporting Countries and non- OPEC producers are scheduled to meet Sept. 28 in...

  • LISBON, Portugal— The International Monetary Fund is still worried about Portugal, saying in its latest report that the country is struggling with fragile economic growth, low investment, high public and corporate debt, and bad loans that are a burden on banks. The IMF notes that Portugal has accomplished "a major economic turnaround" since it needed a 78...

  • ABUJA, Sept 22- Nigeria has hunted down 700,000 firms that have never paid taxes as the country seeks new revenue sources to offset low oil prices that have pushed Africa's biggest economy into its first recession in more than 20 years, its tax chief said. The OPEC member slid into recession in the second quarter and militant attacks on oil facilities in its Niger...

  • BERLIN, Sept 21- German Economy Minister Sigmar Gabriel, heading to Moscow for talks about trade with President Vladimir Putin, said on Wednesday he favored lifting EU sanctions on Russia but that would require progress on peace in Ukraine. The European Union imposed the sanctions after Russia annexed Ukraine's Crimea peninsula in 2014.

  • WASHINGTON, Sept 21- China will need to keep improving the transparency of its exchange rate regime once its yuan achieves reserve status as part of the International Monetary Fund's currency basket on Oct. 1, IMF officials said on Wednesday. "Inclusion of the Chinese renminbi in the SDR basket is an important milestone in the process of China's global financial...

  • NEW YORK— World leaders are pushing to end the overuse of antibiotics and to encourage the development of new medicines, driven by concern that drug-resistant germs could lead to millions of deaths and undermine the global economy. For only the fourth time in its 70 year history, the United Nations is holding a special meeting Wednesday devoted to a health issue:...

  • CAIRO— An Egyptian Cabinet minister says the government is negotiating a $4 billion loan with China. Egypt and the International Monetary Fund reached a provisional agreement last month on a $12 billion loan over three years to overhaul the country's ailing economy. Egypt must secure at least $5 billion in bilateral loans to get the IMF funds.

  • WOLFSBURG, Germany, Sept 19- Germany's vice chancellor has secured the backing of his Social Democrats to vote in favour of a trade deal between the European Union and Canada, a person present at the party's convention on Monday told Reuters. Sigmar Gabriel, who is also economy minister, has championed the Comprehensive Economic Trade Agreement, the EU's most...

  • WOLFSBURG, Germany, Sept 19- Germany's Vice Chancellor has won over an important critic in his Social Democrats party ahead of a crucial vote on a trade deal between the European Union and Canada, raising the chances that Europe's biggest economy will back the accord. However Sigmar Gabriel, who is also Germany's economy minister, has championed CETA and says it...