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Economic Organizations

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  • TOKYO, May 22- The International Monetary Fund warned the Bank of Japan will take longer than it expects to hit its inflation target even with more monetary easing, and said "bolder" structural reforms are required to shake off an entrenched deflationary mindset. In a statement after "Article 4" consultations with Japanese policymakers released on Friday, the IMF...

  • WASHINGTON, May 22- The current slowdown in South Korea's economy could devolve into a protracted bout of deflation, the International Monetary Fund warned on Friday, urging the country's central bank to cut rates. The IMF also said the Korean won remains undervalued, and should be allowed to rise over time. Korean rates are already at a historic low of 1.75...

  • *Gaza's economic output contracted 15 percent in 2014. JERUSALEM, May 22- Gaza's economy is in a worse state than any other in the world, with unemployment at a global high, output contracting sharply and the long-term prospects worrying, the World Bank said on Friday. "Blockades, war and poor governance have strangled Gaza's economy and the unemployment rate is now...

  • Fed's Fischer says euro zone survival virtually assured Thursday, 21 May 2015 | 2:00 PM ET

    Federal Reserve Vice Chair Stanley Fischer on Thursday said the euro zone crisis had made the monetary union stronger and proved that the European Central Bank has the ability to carry out effective policy in the region. Even though the crisis is not over, with Greece in particular still struggling and facing a possible debt default, the ECB's actions have "...

  • MOSCOW, May 21- The International Monetary Fund sees the Russian economy shrinking by 3.4 percent in 2015, a smaller contraction than previously forecast, but said the country's public finances faced big longer-term challenges because of low oil prices. Russia's economy was tipped into crisis last summer when an existing slowdown was compounded by a sharp...

  • IMF upgrades Russia growth outlook Thursday, 21 May 2015 | 10:31 AM ET

    MOSCOW— The International Monetary Fund predicts a less severe recession for Russia and says the country's economy will return to growth in a "mild recovery" next year. Following a recent staff visit to Russia, the IMF says in a statement that it now predicts a 3.4 percent contraction in GDP this year and says "growth should resume" in 2016.. On Thursday, the IMF did not...

  • Far from a rising tide lifting all ships, income inequality increases in good economic times as well as bad, Thursday's report from the Organization for Economic Cooperation and Development says. Austria, Denmark and France are other countries where rising income at the top has been accompanied by falling incomes at the bottom. The report adds fuel to the...

  • LONDON, May 20- The European Union risks pricing itself out of the global economy by excessive regulation, British finance minister George Osborne said on Wednesday, making the case for reforms in the bloc ahead of a referendum on whether Britain remains a member. Osborne was addressing business leaders in London in one of his first major speeches after an...

  • Greece faces June 5 default without bailout deal Wednesday, 20 May 2015 | 3:09 AM ET

    ATHENS, Greece— Greece will not be able to repay a loan to the International Monetary Fund early next month unless a deal is reached with its creditors to unblock bailout funds, the governing party's parliament spokesman said Wednesday. Greece's new government has been struggling for four months to agree on reforms that creditors require in return for the...

  • DIARY- Emerging Markets Economic Events to June 1 Tuesday, 19 May 2015 | 8:02 PM ET

    ANKARA- Central bank of Turkey to hold monthly monetary policy committee meeting. PRAGUE- International Monetary Fund holds a press conference at the end of its annual mission to the Czech Republic- 1315 GMT. BRASILIA- International Monetary Fund head Christine Lagarde visits Brazil to participate in a central bank seminar about inflation targeting.

  • *IMF raises Italy 2015 GDP forecast to 0.7 pct from 0.5 pct. ROME, May 18- The International Monetary Fund raised slightly its forecasts for Italy's economy this year and next on Monday and said Rome should take advantage of favorable external conditions to push through much-needed reforms. The IMF's mission chief, Petya Koeva Brooks, said low interest rates, the...

  • For almost four months, Greece's radical left-led government has been haggling with its creditors from the 19- country eurozone and International Monetary Fund over economic reforms it must make to secure a 7.2 billion euro cash injection. That is the final payment due from the country's 240 billion-euro bailout program, launched five years ago after...

  • DIARY- Emerging Markets Economic Events to May 28 Thursday, 14 May 2015 | 8:02 PM ET

    Greek Prime Minister Alexis Tsipras, Finance Minister Yanis Varoufakis, Deputy Finance Minister Dimitris Mardas, Economy Minister George Stathakis, Chief Executive of the European Financial Stability Facility and Deputy Director at the European Department at International Monetary Fund Pul Thomsen are among keynote speakers. PRAGUE- The "History of...

  • Amid criticism, ECB's Draghi says QE will continue Thursday, 14 May 2015 | 11:47 AM ET
    European Central Bank Governor Mario Draghi speaks at a news conference during the World Bank/IMF annual meetings in Washington, Oct. 11, 2014.

    Mario Draghi said the ECB will fully execute its QE program, adding that he sees little indication of financial imbalances emerging.

  • ECB President Draghi: European stimulus will continue Thursday, 14 May 2015 | 11:09 AM ET

    WASHINGTON— European Central Bank chief Mario Draghi said the ECB's economic stimulus program is working but needs more time to bring European inflation back to healthier levels and restore consumer and business confidence. Speaking Thursday at the International Monetary Fund, Draghi said the program— involving 1.1 trillion euros in bond purchases— has "...

  • WASHINGTON, May 14- The International Monetary Fund on Thursday said its chief economist Olivier Blanchard is retiring from the IMF, and the search for his replacement would begin immediately. Blanchard will take up a new position as a senior fellow at the Peterson Institute for International Economics, a nonprofit think tank in Washington, the IMF said.

  • WASHINGTON, May 14- The International Monetary Fund's chief economist Olivier Blanchard is leaving the IMF, the Wall Street Journal reported on Thursday, saying it was not yet clear who would replace him. Blanchard, who helped steer the Fund since 2008 and guided it through the global economic recession, told the newspaper he needs to digest the issues he's...

  • TASHKENT, May 14- Uzbekistan's government needs to speed up private sector reform to make sure robust economic growth remains sustainable, the International Monetary Fund said, forecasting a strong 2015.. Gross domestic product in Central Asia's most populous nation grew by 8.1 percent last year and remained robust in the first quarter of this year, rising by...

  • DIARY- Top Economic Events to May 27 Wednesday, 13 May 2015 | 8:01 PM ET

    WASHINGTON- European Central Bank President Mario Draghi will give the Michel Camdessus Central Banking Lecture at the International Monetary Fund- 1400 GMT. LONDON- Bank of England member Don Kohn speaks to the Society of Business Economists- 1700 GMT. OTTAWA- Bank of Canada publishes its semi-annual review, with articles on Inflation Dynamics in the...

  • *Oil adds to overnight rally on OPEC demand forecasts. TOKYO, May 13- Asian shares advanced on Wednesday despite another set of disappointing Chinese economic reports, as investors instead focused on hopes of further stimulus from Beijing to prevent a sharper slowdown in the world's second-largest economy. European shares were expected to get the day off to a...