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World Economy Economic Organizations

  • WASHINGTON, Feb 7- Greece needs to reduce the proportion of its budget spent on "unaffordably high" pensions which are paid for by high tax rates to stimulate economic growth, the International Monetary Fund said on Tuesday. Releasing the full staff report from its first annual review of Greece's economic policies in nearly four years, the IMF said that Greece...

  • LONDON, Feb 7- The first post-Brexit vote cracks may be emerging in consumer spending, the cornerstone of Britain's economy, with a series of downbeat retail surveys suggesting inflation pressures are starting to weigh on households. Britain's economy outperformed expectations after the June 23 vote to leave the European Union, finishing 2016 with the...

  • OTTAWA, Feb 6- Any move to tear up the North American Free Trade Agreement would devastate the economies of members Canada, Mexico and the United States, the head of an influential U.S. business group said on Monday. Thomas Donohue, president and chief executive officer of the U.S. Chamber of Commerce, said Canada and Mexico were America's two top export markets.

  • MEXICO CITY, Feb 2- Mexico, the United States and Canada could overhaul rules about a product's country of origin in a renegotiation of the NAFTA trade treaty in order to strengthen regional supply chains, the Mexican economy minister said on Thursday. Guajardo also noted that it made sense to include labor and environmental rules in a renegotiated NAFTA, which...

  • TOKYO, Feb 2- Questions remain over the United States' growth outlook due to uncertainty over the new administration's policies, while rising protectionism in advanced economies could affect Asia's prosperity, a senior International Monetary Fund official said. Asia continues to perform strongly and the near-term outlook remains strong, but it faces risks,...

  • TOKYO, Feb 2- Questions remain over the United States' growth outlook due to uncertainty over the new administration's policies, while rising protectionism in advanced economies could affect Asia's prosperity, a senior International Monetary Fund official said. Asia continues to perform strongly and the near-term outlook remains strong, but downside...

  • GENEVA, Feb 1- Global foreign direct investment fell 13 percent in 2016 and a possible 10 percent rise in 2017 is beset by uncertainty, the United Nations trade and development agency UNCTAD said on Wednesday. Global FDI was an estimated $1.52 trillion in 2016. The United States was the top destination with $385 billion, an 11 percent rise from 2015. Britain was...

  • BRUSSELS, Feb 1- The European Union and Mexico have set two new rounds of trade talks in the first half of 2017, an acceleration of negotiations to deepen economic ties in the wake of Donald Trump's inauguration as U.S. president. The European Commission said on Wednesday that EU Trade Commissioner Cecilia Malmstrom and Mexican Economy Minister Ildefonso...

  • DAR ES SALAAM, Feb 1- Tanzania says its economy probably grew at a less speedy rate than it had hoped last year, slowed by poor-performing agriculture and less demand from its big trading partners. "A new assessment carried out by the government in collaboration with the International Monetary Fund shows that the projected economic growth might not be achieved,"...

  • *Euro zone Jan inflation 1.8 pct, highest since Feb 2013. BRUSSELS, Jan 31- Euro zone inflation jumped in January, economic growth picked up and unemployment fell to a seven-year low, but the rebound looks unlikely to prompt any early rethink of the ECB's stimulus programme as rises in core prices were modest. Inflation in the 19 countries sharing the euro...

  • NEW DELHI, Jan 31- India's growth rate will slow by up to half a percentage point due to the government's decision to scrap high-value banknotes, the top finance ministry economist said on Tuesday, challenging independent estimates of a far bigger impact. Chief Economic Adviser Arvind Subramanian rejected the view of the International Monetary Fund, where he...

  • LUXEMBOURG, Jan 30- Greece will only receive more loans from the euro zone if the International Monetary Fund joins its latest aid programme, the head of the bloc's bailout fund said on Monday, spelling out a condition thus far disregarded by Athens's creditors. Greece needs a new tranche of financial aid under its 86 billion euro bailout by the third quarter of...

  • LUXEMBOURG, Jan 30- The disbursement of new financial aid from euro zone creditors to Greece is linked to the participation of the International Monetary Fund in the bailout program, the head of the bloc's bailout fund said on Monday. Klaus Regling, who chairs the European Stability Mechanism, said a new tranche of financial aid to Greece can only be unblocked...

  • ESM REGLING SAYS DISBURSEMENT OF NEW EURO ZONE LOAN TO GREECE IS LINKED TO IMF PARTICIPATION TO BAILOUT.

  • BRUSSELS, Jan 29- Greece's public debt can be manageable, the euro zone bailout fund said on Sunday, responding to a leaked report by the International Monetary Fund that the country's debt will explode to 275 percent of GDP by 2060.. The spokesman said, however, that the euro zone had promised to offer Greece additional debt relief if Athens delivers on all its...

  • * "That will please the European Commission". The European Commission and the International Monetary Fund have repeatedly urged Germany to take advantage of record-low borrowing costs and increase investment as a measure to reduce the country's large trade and current account surpluses. The United States last year flagged concerns over economic policies...

  • During the election campaign, Trump threatened to impose punitive tariffs on imported goods produced in Mexico and to tear up a joint trade agreement with Latin America's No. 2 economy. Mexico sends about 80 percent of its exports to the United States. "If Trump is able to maintain a constructive tone with Mexico on NAFTA renegotiation, then I think at the minimum...

  • LONDON, Jan 25- The fast-growing financial technology sector could hold big "systemic risks" for the banking sector and the broader economy which need to be addressed by bank regulators around the world, Bank of England Governor Mark Carney said on Wednesday. Speaking at a conference in Germany organized by the country's central bank, Carney said financial...

  • A more protectionist United States would threaten Canada's economy. But Canadian officials are convinced Mexico will suffer the most damage from changes to the North American Free Trade agreement, under which Canada sends 75 percent of its exports to the United States. If constructed, the pipeline would provide oil producers in Canada with a quicker route to...

  • BEIJING, Jan 25- The European Union urged China on Wednesday to make "concrete progress" in opening its markets to global investment, after Chinese President Xi Jinping decried protectionism in a speech at the recent World Economic Forum in Davos, Switzerland. In June 2016, the European Chamber of Commerce in China warned that foreign companies face an...