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World Economy Economic Organizations

  • BOGOTA, May 25- Colombia's economy has proved resilient despite the global fall in oil prices but should adopt OECD recommendations for reforms in everything from education to infrastructure, the OECD said in a report on Thursday. The Organization for Economic Co-operation and Development said solid macroeconomic policy and some tax reforms made Colombia "...

  • BOGOTA, May 25- Colombia's economy has proved resilient despite the global fall in oil prices but should adopt OECD recommendations for reforms in everything from education to infrastructure, the OECD said in a report on Thursday. The Organization for Economic Co-operation and Development said solid macroeconomic policy and some tax reforms made Colombia "...

  • BOGOTA, May 25- Colombia's economy has proved resilient despite the global fall in oil prices but should adopt OECD recommendations for reforms in everything from education to infrastructure, the OECD said in a report on Thursday. The Organization for Economic Co-operation and Development said solid macroeconomic policy and some tax reforms made Colombia "...

  • BEIJING, May 25- The International Monetary Fund said on Thursday it approved a three-year financial arrangement of about $434.3 million to support Mongolia's economic reform programme. The IMF said in a statement that Mongolia was hit hard by the sharp decline of commodity prices and the slowdown in key export markets, and the government is therefore...

  • Speaking to Reuters in an interview, Mario Centeno said he was confident about Portugal's improving economic outlook after years in the doldrums during the euro zone debt crisis, when the country was forced to seek a bailout. "The fact is that we are converging with the European Union, we are finally converging." Portugal has been one of Europe's slowest-growing...

  • ACCRA, May 24- Ghana's producer price inflation fell to 4.8 percent year-on-year in April from 6 percent the month before, as a stronger local currency cut import prices, the statistics office said on Wednesday. Producer inflation has come down from more than 48 percent in 2014, a sign of progress in stabilizing the economy under an International Monetary Fund...

  • MOSCOW, May 23- Russia's oil-dependent economy is expected to grow from 2017 onwards, supported by higher global crude prices and oil production rising to new post-Soviet highs, the World Bank said on Tuesday. It said its latest growth forecasts were based on the assumption that crude prices would average $55 a barrel this year, $60 in 2018 and $61.5 in 2019, and...

  • *OPEC- led oil production cut seen being extended to March 2018. SINGAPORE, May 23- Oil prices were firm on Tuesday on the expectation that an OPEC- led production cut would be extended to next March, but analysts said economic slowdown was clouding the mid-term outlook for crude markets. OPEC and other participating producers are due to meet in Vienna on May 25 to...

  • *Euro zone not ready to disburse new loans to Greece. BRUSSELS, May 22- Euro zone finance ministers failed to agree on debt relief for Greece with the International Monetary Fund on Monday and did not release new loans to Athens, but came close enough in talks to aim for both deals at their next meeting in three weeks. Greece needs new cash from the euro zone to avoid a...

  • MEXICO CITY, May 22- Mexico revised its official 2017 growth estimate upward on Monday, shortly after government data showed the economy was largely shrugging off fears U.S. The election of Trump last year raised the specter of recession in Mexico as he threatened to shred the North American Free Trade Agreement and pursue U.S. policies that could hurt the...

  • MEXICO CITY, May 22- Mexico on Monday revised upward its official 2017 growth estimate, shortly after government data showed the economy was largely shrugging off fears U.S. The election of Donald Trump last year raised the specter of recession in Mexico as he threatened to shred the North American Free Trade Agreement and pursue U.S. policies that could hurt...

  • *Euro zone may agree to new loans for Greece after reforms passed. BRUSSELS, May 22- Euro zone finance ministers may agree on Monday to release new loans to Greece but are likely to struggle to convince the International Monetary Fund to join the bailout by keeping the prospect of debt relief for Athens highly conditional. Greece needs new cash from the euro zone to...

  • Without the deal, no new loans can be disbursed to Athens, even though the bailout is now handled only by euro zone governments, and Greece needs new credit to repay some 7.3 billion euros worth of maturing loans in July. Without the loans, Athens is likely to default- a bad start for a country that wants to return to market financing next year when its latest bailout,...

  • MOSCOW, May 19- The International Monetary Fund improved its forecast for Russia's economic growth this year to 1.4 percent, saying easier financial conditions and higher oil prices would help drive a recovery, a regular IMF report showed on Friday. The Fund, which in October forecast the economy would grow by 1.1 percent this year, said Russia was exiting a...

  • *The Veneto banks expect to book fresh loan writedowns. MILAN, May 17- Italian regional lenders Popolare di Vicenza and Veneto Banca may need to raise capital privately to cover loan losses to win European Union approval for a state bailout they have requested, six sources familiar with the matter said on Wednesday. But having failed to raise funds on the market...

  • President Donald Trump's administration to tell Congress early next week of plans to renegotiate the North American Free Trade Agreement, a move that would produce talks by late August. "Probably the notification will be sent to Congress by the U.S. executive at some time early next week," Guajardo told Mexican media on Tuesday a day after meetings in Washington...

  • President Donald Trump's administration to tell Congress early next week of plans to renegotiate the North American Free Trade Agreement, a move that would produce talks by late August. During the 2016 U.S. election campaign, Trump vowed to scrap the 1994 deal between the United States, Canada and Mexico if he cannot adjust it to benefit U.S. interests.

  • *Latest round of talks will continue- Mexico sugar chamber. MEXICO CITY, May 15- U.S. Ross and Mexican Economy Minister Ildefonso Guajardo agreed to continue "open dialogue" over the coming days, Mexico's economy ministry said in a statement, but it was unclear when the delegations would next meet.

  • *IMF report urges Germany to tackle economic imbalances. *FinMin Schaeuble says Germany already investing enough. BERLIN, May 15- Germany should use its rising tax revenues to invest in infrastructure projects that will enhance its growth potential, and encourage employers to raise wages to help lift euro zone inflation, the International Monetary Fund said...

  • BERLIN, May 15- Germany should use its rising tax revenues to invest in infrastructure projects that will enhance its growth potential, and encourage employers to raise wages to help lift euro zone inflation, the International Monetary Fund said on Monday. The IMF recommendations run counter to the thinking of Finance Minister Wolfgang Schaeuble, who last...