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  • Russia says to restructure loans to Belarus Thursday, 26 Mar 2015 | 6:39 AM ET

    MOSCOW, March 26- Russia said on Thursday it would restructure some of its loans to Belarus, whose economy has been hurt by a weaker Russian rouble. The former Soviet republic has a record $4 billion in debt payments this year, mostly to Russia and the International Monetary Fund. Belarus has also asked the International Monetary Fund for a financial package, in...

  • YANGON, Myanmar— Myanmar is increasing the salaries of its government employees— doubling some of them— as of next month. Civil servants with the lowest pay of 75,000 kyats per month now will get 120,000 kyats under the new scale. According to the Asian Development Bank, Myanmar's current inflation of 6 percent is likely to increase to 8.4 percent in the upcoming...

  • BEIJING/ LONDON, March 24- Britain weighed in on Tuesday to the debate on anointing the yuan as a major reserve currency, saying the issue was "very live" after Beijing asked the IMF to include the currency in its Special Drawing Rights basket. "China will speed up the basic convertibility of yuan on the capital account and provide more facility for domestic...

  • DIARY-Emerging Markets Economic Events to April 6 Monday, 23 Mar 2015 | 8:02 PM ET

    MAKATI CITY, Philippines- Asian Development Bank to release Asian Development Outlook Report 2015- 0130 GMT. MANILA- Philippines Investment Forum 2015. Philippines President Benigno S Aquino III, Philippines Finance Secretary Cesar Purisima and Philippines Central Bank Amando M Tetangco Jr are the key speakers. PRAGUE- Czech Republic Finance Minister...

  • BEIJING— International Monetary Fund chief Christine Lagarde said Sunday that China's economic slowdown is legitimate and that Beijing can contribute to global prosperity. Speaking at the opening of the China Development Forum in Beijing, Lagarde praised Beijing for its work to build a legal system and address pollution. She said she welcomed Beijing's...

  • EU summit wraps up with talks on Libya, economy Friday, 20 Mar 2015 | 10:21 AM ET

    BRUSSELS— European Union heads of state and government spent the final day of their spring summit focused on the situation in Libya and on ways to boost the bloc's economy:. —LIBYA: The leaders, fearful the unrest in Libya could splash over into Europe, tasked the EU's top diplomat with helping mediate talks between Libya's warring factions. —UKRAINE: Leaders agreed...

  • ACCRA, March 20- Moody's Investors Service downgraded Ghana's sovereign rating and put the country on a negative outlook to reflect an increasing debt burden, large fiscal imbalances and a sharp weakening of the cedi currency. The downgrade from by one notch to B3 from B2 comes despite an agreement with the International Monetary Fund in February for a...

  • WASHINGTON, March 19- In eight International Monetary Fund programs since independence in 1991, Ukraine has completed just one successfully. Ukraine's finance minister believes the IMF's money is "not forever", but over-optimistic economic assumptions and continued fighting in the east of the country will probably mean Ukraine will end up depending on...

  • What's done, what's next at the EU summit Thursday, 19 Mar 2015 | 10:45 AM ET

    BRUSSELS— European Union heads of state and government are meeting in Brussels through Friday to talk about economic and energy policies, the crises in Ukraine and Libya, and the Greek debt problem. —UKRAINE: Leaders agreed not to lift EU sanctions on Russia until all the points of a peace accord for eastern Ukraine have been fulfilled. EU leaders also asked the...

  • BRUSSELS— Switzerland has signed a preliminary agreement with the European Union that will make it much harder for the 28- nation bloc's citizens to evade taxes by hiding money in Swiss vaults. The deal initialed in Brussels on Thursday envisages that both sides will start collecting bank account data on each other's citizens from 2017 and begin exchanging...

  • EU unveils draft laws to end sweetheart tax deals Wednesday, 18 Mar 2015 | 8:12 AM ET

    BRUSSELS— The European Union plans to oblige member countries to share details of tax agreements made with big companies and end the practice of sweet deals made in secret. The EU's top economy and finance chief, Pierre Moscovici, said "it's high time to re-establish a tax balance and for companies to pay what they owe." The Commission, which polices EU laws and...

  • *India, euro zone and Japan forecasts significantly higher. In a regular overview of the world economy, it confirmed its forecast of 3.1 percent growth in the U.S. economy this year and 3.0 percent next, with forecasts for India, the euro zone and Japan raised the most. "India is now expected to be the fastest-growing major economy in 2015-16, overtaking China," said...

  • MUMBAI, March 17- Emerging markets need to be prepared for the impact of a rise in U.S. interest rates which could still surprise in both timing and pace, the head of the International Monetary Fund, Christine Lagarde, said on Tuesday. In a speech in Mumbai, Lagarde warned that there could be a repeat of the so-called "taper tantrum" seen in 2013 when then Federal Reserve...

  • MINSK, March 16- The head of the International Monetary Fund to Belarus said on Monday he expected the Belarussian economy to contract by 2 percent in 2015 compared to the Fund's earlier forecast of 1.5 percent. The former Soviet republic's economy has been battered by a plunge in the Russian rouble and the conflict in Ukraine. The Belarussian government...

  • NEW DELHI, March 16- The global recovery is "too slow, too brittle and too lopsided", the head of the International Monetary Fund said in India on Monday, describing Asia's third-largest economy as a rare bright spot on a cloudy global horizon. In a speech in New Delhi, IMF Managing Director Christine Lagarde said that monetary policy in the world's leading economies...

  • NEW DELHI, March 16- India's economy is a bright spot in a cloudy global economy, with recent policy reforms and improved business confidence set to boost growth, the head of the International Monetary Fund said on Monday. Speaking in New Delhi, IMF Managing Director Christine Lagarde welcomed the government's latest budget as "a step in the right direction", and...

  • NEW DELHI, March 16- The global economic recovery remains "too slow, too brittle and too lopsided", the head of the International Monetary Fund said on Monday, singling out the risk of financial market volatility arising from divergence in monetary policy among leading central banks. The first of those was what Lagarde called "asynchronous monetary policy" in...

  • NEW DELHI, March 16- India's economy is a bright spot on a cloudy global economy, with recent policy reforms and improved business confidence set to boost growth, the head of the International Monetary Fund said on Monday. Speaking in New Delhi, IMF Managing Director Christine Lagarde welcomed the government's latest budget as "a step in the right direction", and...

  • NEW DELHI, March 16- The global economic recovery remains "too slow, too brittle and too lopsided", the head of the International Monetary Fund said on Monday, singling out divergences in monetary policy as a risk that could cause financial market volatility. Christine Lagarde reiterated the IMF's forecast that, more than six years after the global financial...

  • NEW DELHI, March 16- India is better positioned to cope with external financial shocks than most emerging market economies, International Monetary Fund head Christine Lagarde was quoted saying on Monday, just ahead of a of a crunch meeting of the U.S. Now, Lagarde said in an interview with the Times of India before a two-day visit, India is in better shape.