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World Economy Economic Organizations

  • COLOMBO, Nov 19- The International Monetary Fund on Saturday said Sri Lanka's macroeconomic and financial conditions have begun to stabilize and the island nation's performance under its $1.5 billion loan program is satisfactory. The global lender, after completing the first review of Sri Lanka's economic performance, also said inflation has trended down...

  • Nov 18- Euro zone economic growth will hum along at a modest pace over the coming year, according to economists in a Reuters poll whose views have barely changed since the U.S. election and five months after Britain voted to exit the European Union. Despite what appears to be a strong likelihood for a U.S. interest rate rise next month, the European Central Bank looks...

  • *Germany is only big state not hitting EU fiscal limits. BRUSSELS, Nov 16- The European Union effectively urged the German government to spend more in an election year as Brussels moved further away on Wednesday from its mantra of austerity, pushing for euro zone countries to loosen their budgets for 2017.. But since France, Italy and Spain are among those butting...

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  • BRASILIA, Nov 15- The International Monetary Fund's executive board said on Tuesday the Brazilian economy could be close to pulling out of a grueling recession, but faces a long and bumpy recovery that hinges on the approval of unpopular reforms. In its considerations of the IMF staff's annual report on Brazil, the executive board said that despite the new...

  • BRUSSELS/ ROME Nov 15- European Union governments and institutions are set for intense budget negotiations ahead of a Thursday deadline, with Italy complaining not enough spending is planned for handling migration, security threats and youth unemployment. But Italy, which holds a constitutional referendum on Dec. 4 that could end the political career of...

  • WARSAW, Nov 15- Economic growth slowed in the third quarter across central and eastern Europe, data showed on Tuesday, with economists mainly blaming reduced investment caused by lower inflows of European Union aid. Poland, the region's largest economy, saw growth hit its weakest annual level in three years in the July-September period, while economic...

  • LONDON, Nov 14- Scottish hedge fund manager Hugh Hendry is betting on a break-up of the European Union in a trade he said could deliver 30-35 percent gains, the Reuters Global Investment Outlook Summit heard on Monday. "The biggest risk to the global economy is the acute and impending political crisis in Europe, which monetary policy does not have the tools to...

  • DUBAI, Nov 13- Egypt's stock market gained for a 12th straight session on Sunday after the International Monetary Fund approved a $12 billion loan for the country, while Saudi Arabia rose, bucking a downtrend in the rest of the Gulf. The IMF loan approval had been widely expected, but it added fresh fuel to a rally caused by Egypt's decision to float its currency on...

  • CAIRO/ WASHINGTON, Nov 11- Egypt won International Monetary Fund approval on Friday for a three-year, $12 billion bailout program aimed at reviving a struggling economy, bringing down public debt and controlling inflation while seeking to protect the poor. IMF Managing Director Christine Lagarde described the Egypt bailout as a "homegrown economic program"...

  • LONDON, Nov 11- Nigeria outlined a plan to overhaul state oil company NNPC and eventually list it on the stock exchange in a bid to modernise and streamline an industry known for graft and mismanagement. The ministry seeks, in the proposal, to end the OPEC member's reliance on oil exports and shift to a "gas-based industrial economy," and said Nigeria needs to reform...

  • LONDON, Nov 11- Nigeria outlined a plan to overhaul state oil company NNPC and eventually list it on the stock exchange in a bid to modernise and streamline an industry known for graft and mismanagement. The ministry seeks, in the proposal, to end the OPEC member's reliance on oil exports and shift to a "gas-based industrial economy," and said Nigeria needs to reform...

  • MEXICO CITY, Nov 10- Mexico is willing to discuss the North American Free Trade Agreement with U.S. Economy Minister Ildefonso Guajardo said Mexico aims to persuade Trump how beneficial NAFTA, which took effect in 1994 between the United States, Mexico and Canada, had been for North America, despite the American's criticism of the deal. Mindful of the fact that...

  • BEIJING, Nov 10- China is disappointed that the European Union hasn't completely recognized its market economy status, commerce ministry spokesman Shen Danyang said on Thursday in a sign that Beijing will continue to press the EU to relax its anti-dumping rules. The EU and many of China's other trading partners have been debating whether to grant China "market...

  • CAIRO, Nov 9- Egypt's newly floated pound strengthened on Wednesday after the International Monetary Fund indicated it would approve a $12 billion loan deal the government hopes will help avert an economic crisis. Egypt has said it expects to receive the first $2.75 billion installment from the IMF as early as next week, bringing fresh dollar inflows into the...

  • MOSCOW, Nov 9- Russia's economic outlook has improved and the commodity-dependent economy is set to return to growth as soon as next year, the World Bank said on Wednesday. "This growth upsurge, however, is unlikely to turn the tide in terms of building a more diversified economy," the World Bank said in a regular report. Adding a note of caution, the World Bank said...

  • *OPEC poses downside risk if it fails to reach output deal. Growing demand for the $1.2 trillion U.S. Treasury Inflation Protected Securities sector is also underpinned by remarks from Federal Reserve Chair Janet Yellen in October on managing a "high-pressure economy," which gave rise to the view the U.S. central bank would allow inflation to run above its 2...

  • BERLIN, Nov 5- German Economy Minister Sigmar Gabriel on Saturday urged a resumption of long-stalled efforts to negotiate a global free accord, warning that the proliferation of bilateral trade deals could lead to varying standards and rules. "The best thing would be an agreement under the auspices of the World Trade Organisation," Gabriel said during a...

  • DAKAR, Nov 4- In a report last week detailing sub-Saharan Africa's dire economic outlook, the International Monetary Fund singled out Senegal as a rare bright spot. Today, however, Senegal is on the verge of its own oil and gas boom. Already, claims of corruption and opacity in the government's managing of the nascent sector have raised concerns in Senegal, one of...

  • *Egypt struggling to earn dollars since 2011 uprising. CAIRO, Nov 3- Egypt floated its currency on Thursday and said it would make a final push to secure a $12 billion IMF loan within days as it seeks to overhaul its dollar-starved economy and unlock foreign investment. Egypt initially devalued the pound by about a third early on Thursday, taking it from its...