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World Economy Economic Organizations

  • BRUSSELS, April 4- A new free trade agreement with the European Union is of "paramount" importance for Mexico and both parties aim to conclude a deal this year, Mexico's deputy economy minister has said. Right now there's no other issue, no other negotiation on top of the trade agenda for Mexico but this one, " Juan Carlos Baker, deputy minister for foreign trade, told...

  • KIEV, April 3- The International Monetary Fund urged Ukraine on Monday to raise the pension age and do more to tackle corruption after announcing the payout of $1 billion in new aid to the war-torn country. The IMF is propping up Ukraine's economy with a $17.5 billion bailout, helping it climb out of recession following the annexation of Crimea by Russia in 2014...

  • WASHINGTON, April 3- The International Monetary Fund said on Monday its executive board approved another $1 billion loan payment to Ukraine, bringing total disbursements to about $8.38 billion under the $17.5 billion bailout program. IMF First Deputy Managing Director David Lipton said Ukraine's economy was showing signs of improvement, with lower...

  • ATHENS, April 3- A new rift between Athens and the International Monetary Fund over pensions and labour reforms has dealt a blow to an initial accord, dashing hopes for a bailout review deal before a meeting of euro zone finance ministers this week. Talks between Athens, the European Union and the Washington- based IMF have dragged on for months due to differences...

  • ATHENS, March 31- Euro zone deputy finance ministers have recommended Greek bailout review talks continue in Athens, a government official said on Friday, as Athens and its creditors seek a deal on reforms to unlock aid. The technical teams of the lenders, the European Union and the International Monetary Fund, are expected to make a final decision later on Friday...

  • *Nigeria in first recession in quarter of century. *IMF says Nigeria economy expected to grow 0.8 pct this year. ABUJA, March 30- The International Monetary Fund urged Nigeria on Thursday to lift its remaining foreign exchange restrictions and scrap its system of multiple exchange rates in order to revive its economy, which is in its first recession in 25 years.

  • ABUJA, March 30- The International Monetary Fund called on Nigeria on Thursday to lift its remaining foreign exchange restrictions and scrap its system of multiple exchange rates to revive the country's recession-hit economy. In 2016, Nigeria fell into its first annual recession in 25 years, which was largely caused by the impact of low oil prices and attacks...

  • LIBREVILLE/ DAKAR, March 28- Charles Lekabi lived comfortably as a driver for an oil company in Gabon's industrial town of Port Gentil until he was laid off three years ago. In OPEC member Gabon, production is in decline, the recovery is slow and may not come at all. The oil sector has accounted for 80 percent of exports, 45 percent of gross domestic product, and 60...

  • *IMF says further actions "urgently needed" to boost Nigeria economy- report. *Nigeria is in first recession in 25 years. ABUJA, March 24- The International Monetary Fund is expected to warn Nigeria its economy needs urgent reform, according to a report seen by Reuters that could delay talks over $1.4 billion in much-needed international loans.

  • The size of Greece's primary surplus- the budget balance before debt-servicing costs- is a source of contention between euro zone governments and the International Monetary Fund, which believes the surplus in 2016 was only 0.9 percent. Under Greece's 86 billion euro bailout programme, the third since 2010, Athens was supposed to reach a primary surplus of 0.5...

  • The statement was signed by B20 chair Kurt Bock, who is also CEO of chemicals group BASF, and several leading scientists, including Ottmar Edenhofer from the Mercator Research Institute on Global Commons and Climate Change. It came after G20 financial leaders- under pressure from the United States- dropped from their communique a reference about willingness...

  • BRUSSELS, March 21- European Union finance ministers expressed concern on Tuesday over the future of free trade after what one of them called a "surreal" meeting of finance chiefs of the world's 20 biggest economies at the weekend. Breaking a decade-long tradition of endorsing open trade, G20 finance ministers and central bankers made only a token reference to...

  • BEIJING, March 21- China's economic growth is likely to slow to 6.5 percent this year and cool further to 6.3 percent in 2018, the OECD said, though exports are set to pick up as global demand strengthens. The Organisation for Economic Co-operation and Development also warned of China's ballooning corporate debt in its bi-annual economic outlook report...

  • Economic policymakers of the 20 rich nations, meeting in Germany over the weekend, dropped a former undertaking to avoid all forms of protectionism from their final communique, substituting only a watered-down phrasing that they are working to strengthen the contribution of trade to our economies. The G20 finance ministers dont have direct responsibility...

  • BEIJING, March 20- China's Finance Minister Xiao Jie, who attended last week's G20 meeting, warned that momentum seen in the global economy could be curbed by policy uncertainties and the rise of protectionism. By contrast, at the gathering in the Chinese city of Hangzhou in September last year, G20 leaders agreed to work harder to build an open world economy,...

  • BERLIN, March 20- The European Stability Mechanism-- the euro zone's bailout fund-- should ultimately be turned into a European version of the International Monetary Fund, the head of euro zone finance ministers said on Monday in a German newspaper. He said that would also mean that Greece's current "troika" of lenders- the European Commission, European Central Bank...

  • SYDNEY, March 20- The dollar index was steady at 100.31 in quiet early trade on Monday after a meeting of the financial leaders of the world's biggest economies in Germany over the weekend. The Australian dollar held at $0.7687, down 0.16 percent. G20 finance ministers and central bankers dropped a pledge to keep global trade free and open, acquiescing to an...

  • SYDNEY, March 20- The dollar index was steady at 100.31 in quiet early trade on Monday after a meeting of the financial leaders of the world's biggest economies in Germany over the weekend. The Australian dollar held at $0.7687, down 0.16 percent. G20 finance ministers and central bankers dropped a pledge to keep global trade free and open, acquiescing to an...

  • BERLIN, March 19- Finance leaders of the world's top economies have agreed to review banking rules, but this does not automatically mean hard-fought financial market regulation will be rolled back, Bundesbank President Jens Weidmann told Reuters on Sunday. The new U.S. administration has argued that excessive bank regulation is holding back lending and...

  • KIEV, March 19- The International Monetary Fund has postponed a decision to disburse more aid to Ukraine in order to assess the impact of an economic blockade Kiev imposed on separatist-held territory, the IMF and Ukrainian authorities said on Sunday. The IMF's Executive Board was due to meet on Monday to approve more assistance as part of a $17.5 billion...