World Economy Economic Organizations

  • 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...

  • LAGOS, May 11- Nigeria is counting on foreign investment to help diversify its oil-dependent economy. Fears its naira currency is overvalued have deterred many investors, but some, including China, see its fast-rising population as a powerful long-term draw. The International Monetary Fund has recommended a more flexible exchange rate but the 73- year-old...

  • LONDON, May 10- Britain's currency is likely to lose a fifth of its value if the country votes to leave the European Union on June 23, triggering intense inflation pressure and slower economic growth, a leading think-tank said on Tuesday. The report by the National Institute of Economic and Social Research adds to a string of warnings from Britain's finance...

  • The United States has for years called for Germany and other countries with current account surpluses to do more to boost lacklustre domestic demand. The Organisation for Economic Cooperation and Development and the International Monetary Fund have also urged Germany to step up public and private investment in infrastructure to reduce its current...

  • LONDON, May 10- Sterling is likely to fall by a fifth in the immediate aftermath of a British vote to leave the European Union on June 23, triggering intense inflation pressure, Britain's National Institute of Economic and Social Research said on Tuesday. NIESR, an academic research body, said that if Britain voted to leave the EU, the economy would be 1 percent...

  • LONDON, May 10- Greece's 10- year bond yields fell below 8 percent for the first time in over six months on Tuesday after euro zone finance ministers offered debt relief to the country from 2018.. In what appears to be a compromise between Germany, which does not believe Greece needs additional debt relief, and the International Monetary Fund, which insists it is...

  • BERLIN, May 9- German industrial orders rose more than expected in March and the International Monetary Fund said on Monday it was "a bit more optimistic" about the outlook for Europe's largest economy, which is heading into the second quarter on a solid footing. The surprisingly strong economic data, published by the Economy Ministry, and the upbeat comments made...

  • OTTAWA, May 9- The Bank of Canada should be ready to cut interest rates again if growth falters, though the economy looks set for a modest recovery from the oil price shock in the near term, a report from the International Monetary Fund said on Monday. In an annual assessment of Canada's economy, IMF staff said that the Bank of Canada's decision to cut rates last year,...

  • BRUSSELS, May 9- Euro zone finance ministers will start talks on Monday on how to reprofile Greek debt to make future annual servicing costs manageable for Athens despite opposition from Germany, which does not believe any relief is needed, euro zone officials said. The International Monetary Fund believes that Athens must get debt relief for its economy to...

  • LONDON, May 6- It could be time for China to tighten monetary policy rather than ease it further to avoid the risk of overheating in parts of the giant economy, one of the International Monetary Fund's top officials said on Friday. The deputy division chief of the IMF's Asia department, Roberto Guimaraes, told Reuters that further Chinese interest rate cuts and...

  • IMF- CHINA MONETARY POLICY PERHAPS A LITTLE BIT TOO ACCOMMODATIVE AT PRESENT.

  • BRUSSELS, May 6- The head of the International Monetary Fund urged euro zone finance ministers to start talks on Greece's debt relief together with discussions on Athens' reform programme, according to a letter published by the Financial Times on Friday. They are meant to discuss Greece's reform programme and a new set of contingency measures that Athens...

  • LONDON, May 6- The worst of the economic slump in Russia may be over the International Monetary Fund said on Friday, but warned possible euro zone stagnation and shifting politics made central Europe's prospects increasingly uncertain. Using forecasts produced last month, it said growth in the central channel from Poland down to Turkey would remain as healthy...

  • TOKYO, May 1- International Energy Agency chief Fatih Birol said on Sunday that oil prices may have bottomed but that would depend on global economic growth. Asked if oil prices had reached a bottom, Birol told Reuters: "It may well be the case, but it depends on economic growth." He expected global oil demand to grow by 1.2 million barrels per day this year while non- OPEC...

  • MINSK, April 28- The World Bank forecast on Thursday a much deeper recession in Belarus this year than it had previously expected as the former Soviet republic struggles with a downturn in neighboring Russia. Seeking loans from international lenders, including $3 billion from the International Monetary Fund, Belarus has implemented cautious economic...

  • LONDON, April 28- Britain's economy would be 4 percent larger 10 years after leaving the European Union than if it stayed in due to benefits from lower tariffs for imports from outside the bloc, economists supporting an exit said on Thursday. Ahead of a June 23 EU membership referendum, a range of bodies from the country's finance ministry to the International...