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World Economy Economic Organizations

  • *Germany backs Greece, wants it to remain in euro zone. BRUSSELS/ BERLIN, Feb 13- Germany on Monday voiced support for Greece to stay in the euro zone and the European Commission dispatched a senior official to Athens to persuade it to take on further reforms to salvage its bailout accord. The moves came as the European Commission forecast a large jump in economic...

  • *Germany backs Greece, wants it to remain in euro zone. BRUSSELS/ BERLIN, Feb 13- Germany on Monday backed Greece to stay in the euro zone and the European Commission dispatched a senior official to Athens to persuade it to take on further reforms to salvage its bailout accord. The moves came as the European Commission forecast a large jump in economic growth for...

  • Forty-four percent of those surveyed said NAFTA had benefited Canada, up from 25 percent from a poll last June. The percentage who wanted to see a renegotiation of the agreement, which removed trade barriers between Canada, the United States and Mexico, fell to 24 percent from 34 percent. Trump's plan to reopen NAFTA has cast uncertainty over the economic future...

  • BRUSSELS, Feb 13- Euro zone's economic growth is expected to lose some speed this year and to rebound in 2018 while the British economy will nearly halve its expansion by 2018, the European Commission said on Monday, warning of higher political risks. The EU executive forecast that growth in the 19 countries sharing the euro would slow to 1.6 percent this year...

  • *Nigeria mired in recession after oil price slump. ABUJA, Feb 11- Nigeria's economy is projected to have contracted 1.54 percent in 2016, according to a budget ministry document, with Africa's most populous country mired in its first recession in a quarter of a century. The International Monetary Fund has predicted that Nigeria's economy would shrink 1.8...

  • BRUSSELS, Feb 10- Euro zone lenders and the International Monetary Fund have agreed to put aside differences and present a united front at a meeting with Greece in the latest bailout impasse, a step towards agreeing what Athens must do next. Euro zone officials said on Friday the lenders would ask Greece to take 1.8 billion euros' worth of new reforms by 2018 and...

  • BRUSSELS, Feb 10- Euro zone lenders and the International Monetary Fund have agreed to put aside differences and present a united front at a meeting with Greece in the latest bailout impasse, a step towards agreeing what Athens must do next. Euro zone officials said on Friday the lenders would ask Greece to take 1.8 billion euros' worth of new reforms by 2018 and...

  • BRUSSELS, Feb 10- Euro zone lenders and the International Monetary Fund have reached agreed between themselves to present a common stance to Greece later on Friday in talks on reforms and the fiscal path Athens must take, euro zone officials said. Such a united stance would be a breakthrough because the two groups have differed for months on the size of the...

  • WASHINGTON, Feb 9- The International Monetary Fund does not see firm evidence that currency wars are nearing but would like to see Group of 20 major economies reaffirm their commitment to free and fair trade this year, IMF spokesman Gerry Rice said on Thursday. "I don't see evidence of firm policy decisions made that would lead us to suggest that we're heading for...

  • WASHINGTON, Feb 9- The International Monetary Fund does not see firm evidence that currency wars are nearing but would like to see Group of 20 major economies reaffirm their commitment to free and fair trade this year, IMF spokesman Gerry Rice said on Thursday. "I don't see evidence of firm policy decisions made that would lead us to suggest that we're heading for...

  • ASKED ABOUT G20 LANGUAGE, IMF SPOKESMAN SAYS FUND WOULD LIKE TO SEE IT REFLECT PURSUIT OF FREE AND FAIR TRADE POLICIES.

  • WASHINGTON, Feb 8- The International Monetary Fund tried to be "ruthless truth tellers" in its assessment that Greece needs to pursue further reforms to its pension and tax systems, IMF Managing Director Christine Lagarde said on Wednesday. Speaking at an Atlantic Council event in Washington on transparency, Lagarde said that the fund would not back down from...

  • WASHINGTON, Feb 8- Greece still needs to improve its reporting of economic data but transparency issues are likely not the cause of differing views over Greece's debt sustainability, International Monetary Fund Managing Director Christine Lagarde said on Wednesday. Lagarde, speaking at an event at the Atlantic Council in Washington, said such differences...

  • BERLIN, Feb 8- Germany's Finance Ministry denied a Bloomberg report on Wednesday that Germany had tried to push for a joint statement of the Group of 20 leading economies in which the G20 would have called for monetary stimulus to be reined in. "The report is not correct," a ministry spokeswoman said, adding that such a demand for central banks was never on the G20...

  • WASHINGTON, Feb 8- New International Monetary Fund data shows that countries that improve the transparency of their economic and fiscal data are rewarded with significantly lower borrowing costs, IMF Managing Director Christine Lagarde said on Wednesday. Lagarde, in prepared remarks to the Atlantic Council, said that a yet-to-be published IMF staff...

  • WASHINGTON, Feb 7- Greece needs to reduce the proportion of its budget spent on "unaffordably high" pensions which are paid for by high tax rates to stimulate economic growth, the International Monetary Fund said on Tuesday. Releasing the full staff report from its first annual review of Greece's economic policies in nearly four years, the IMF said that Greece...

  • LONDON, Feb 7- The first post-Brexit vote cracks may be emerging in consumer spending, the cornerstone of Britain's economy, with a series of downbeat retail surveys suggesting inflation pressures are starting to weigh on households. Britain's economy outperformed expectations after the June 23 vote to leave the European Union, finishing 2016 with the...

  • OTTAWA, Feb 6- Any move to tear up the North American Free Trade Agreement would devastate the economies of members Canada, Mexico and the United States, the head of an influential U.S. business group said on Monday. Thomas Donohue, president and chief executive officer of the U.S. Chamber of Commerce, said Canada and Mexico were America's two top export markets.

  • MEXICO CITY, Feb 2- Mexico, the United States and Canada could overhaul rules about a product's country of origin in a renegotiation of the NAFTA trade treaty in order to strengthen regional supply chains, the Mexican economy minister said on Thursday. Guajardo also noted that it made sense to include labor and environmental rules in a renegotiated NAFTA, which...

  • TOKYO, Feb 2- Questions remain over the United States' growth outlook due to uncertainty over the new administration's policies, while rising protectionism in advanced economies could affect Asia's prosperity, a senior International Monetary Fund official said. Asia continues to perform strongly and the near-term outlook remains strong, but it faces risks,...