World Economy Economic Organizations

More

  • *Japan backs away from calls for joint fiscal action. *Japan, U.S. remain at logger-heads over yen policy. SENDAI, Japan, May 20- A rift on fiscal policy and currencies has set the stage for G7 advanced economies to agree on a "go-your-own-way" response to address risks hindering global economic growth at their finance leaders' gathering that kicked off on Friday.

  • SENDAI, Japan, May 20- A rift on fiscal policy and currencies is likely to set the stage for G7 advanced economies to agree on a "go-your-own-way" response to address risks hindering global economic growth at their finance leaders' gathering on Friday. Finance leaders gathering in Sendai, northeast Japan, sought advice from prominent academics, including Nobel...

  • WASHINGTON, May 19- Signaling a tough stance on Greek debt relief talks, a senior International Monetary Fund official said on Thursday that the negotiations should focus on a long grace period, maturity extensions and "very low interest rates". Euro zone finance ministers are due to meet next Tuesday to try to clinch a deal with Greece on a package of contingency...

  • BRUSSELS, May 18- The euro zone and International Monetary are struggling with Greece's debt crisis- not with Athens this time, but with each other over when to give Greece a break on its future massive debt repayments. The euro zone has begun talks on debt relief for Greece but wants to postpone the final decision until 2018; the IMF insists Greek debt repayment is...

  • DUBAI, May 19- The International Monetary Fund backed Saudi Arabia's sweeping economic reform plan on Thursday and said the kingdom was cutting spending at the right speed to cope with a huge state budget deficit caused by low oil prices. The IMF had for years been urging Saudi Arabia to adopt many of those measures, and in a statement on Thursday it said the reform...

  • SENDAI, Japan, May 19- Global economic uncertainties and measures to deal with tax evasion will be among the key topics that finance leaders of the G7 advanced economies will discuss at a weekend meeting, Japanese Finance Minister Taro Aso said on Thursday. Bank of Japan Governor Haruhiko Kuroda also warned that there are "various challenges" that G7 economies...

  • LONDON, May 18- For world markets, the main focus at this week's Group of Seven meeting in Japan will be how much leeway the host nation is given to boost economic growth and inflation, specifically through depreciation of the yen. Japan's economy is struggling in the face of a stronger exchange rate that has damaged growth, intensified deflation, crushed stock...

  • KINSHASA, May 17- Democratic Republic of Congo will seek between $250 million and $500 million in budgetary support from the World Bank this year, pending a review of its economy by the International Monetary Fund next month, the government said on Tuesday. The support would allow the central bank to boost its foreign currency reserves, which have fallen from...

  • *Japan hosts G7 fin mins on May 20-21. Japan will host a G7 finance ministers and central bankers summit on May 20-21, and there are doubts about how much progress policymakers can make in shifting the global economy out of its current spell of slow growth and low inflation. Earlier this month, Abe travelled to Europe to meet G7 heads in preparation for the meeting in...

  • DUBLIN, May 13- Finance ministers from the world's largest developed economies met in Germany a year ago against a backdrop of faltering global growth, scant inflationary pressures and the latest chapter in the Greek debt crisis. Only unusually smooth talks between Athens and its lenders may keep Greece off the agenda this time around. Whether explicitly on...

  • LONDON, May 13- International Monetary Fund chief Christine Lagarde said on Friday there were no economic positives to Britain leaving the European Union and that the impact would range from "pretty bad to very, very bad." Her blunt warning came as the IMF said the country risks falling into a spiral of weaker economic growth, lower house prices and diminished...

  • LONDON, May 13- The hit to Britain's economy if it votes to leave the European Union would range from "pretty bad, to very, very bad", International Monetary Fund Managing Director Christine Lagarde said on Friday. "Depending on what hypotheticals you take, it's going to be pretty bad to very, very bad," Lagarde said at a press conference in London. Earlier, the IMF said...

  • LONDON, May 13- The International Monetary Fund said Britain risks falling into a self-reinforcing cycle of weaker economic growth and lower house and share prices if voters opt to leave the European Union next month. A sudden stop in investment into key sectors of the economy such as commercial real estate and finance could exacerbate Britain's record-high...

  • LONDON, May 13- The International Monetary Fund said Britain risks falling into a self-reinforcing cycle of weaker economic growth and lower house and share prices if voters opt to leave the European Union next month. On Thursday, the Bank of England said Britain's economy would slow sharply, and possibly enter a brief recession, after a vote to leave the EU.

  • BEIJING, May 13- China has urged the European Union to uphold its World Trade Organization obligations on China's "market economy status", the country's commerce ministry said on Friday. The ministry's remarks come after EU lawmakers on Thursday overwhelmingly rejected any loosening of the bloc's trade defences against China without reforms of its economy,...

  • SEOUL- The Bank of Korea's monetary policy meeting to announce interest rates- 0100 GMT. PRAGUE- The Czech National Bank to publish the minutes of May policy meeting- 0700 GMT. MONDAY, MAY 16 SEJONG, South Korea- The state-run Korea Development Institute and the finance ministry will host an OECD seminar in Sejong in light of the OECD's publication of a report on the...

  • BRUSSELS, May 12- EU lawmakers overwhelmingly rejected on Thursday any loosening of the bloc's trade defences against China without reforms of its economy, including a reduction on state influence over business. The European Union is debating whether to grant China "market economy status" from December, which Beijing says is its right 15 years after joining...

  • LONDON, May 12- The Bank of England stepped up its warnings about the economic risks if Britain votes to leave the European Union, saying on Thursday that sterling could fall sharply and unemployment would probably rise. The central bank also cut Britain's growth forecast for this year to 2.0 percent from 2.2 percent in February, reflecting how uncertainty...

  • *Nigeria needs loans to help fund 2 trillion naira deficit. ABUJA, May 12- Nigeria is still in talks to obtain foreign loans to help fund a record $31 billion budget for this year, aimed at helping Africa's biggest economy cope with a slump in oil prices, its budget minister said on Thursday. Nigeria has applied for a $1 billion loan from both the World Bank and African...

  • BERLIN, May 12- If Britain were to leave the European Union, it would hurt Britain and Europe as well as the global economy, the chairman of the White House Council of Economic Advisers told a German newspaper. "You can certainly argue about whether the damage a Brexit would cause would be small, medium or big but it would definitely cause damage, especially for the...