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Economic Organizations

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  • *Outlook remains weak as OPEC says will not cut production. LONDON, Dec 23- Brent crude oil rose above $61 a barrel on Tuesday after data showed the U.S. economy grew at its quickest pace in 11 years in the third quarter, outweighing downward pressure from a global glut and evidence of weak demand in other parts of the world. Brent for February rose $1.38 a barrel to a...

  • *OPEC hopes economic recovery will spur fresh demand. *$100 seen as encouraging non- OPEC output. ABU DHABI, Dec 23- Arab OPEC producers expect global oil prices to rebound to between $70 and $80 a barrel by the end of next year as a global economic recovery revives demand, OPEC delegates said this week in the first indication of where the group expects oil markets to...

  • WASHINGTON, Dec 19- The International Monetary Fund said on Friday it had productive discussions with officials in Ukraine this week, and planned to return to Kiev for further talks in January. "We found that the Ukrainian authorities are preparing to move decisively on a broad and comprehensive agenda to stabilize and reform the economy, while coping with the...

  • IMF postpones Cyprus loan tranche after foreclosure law Thursday, 18 Dec 2014 | 6:11 PM ET

    WASHINGTON, Dec 18- The International Monetary Fund on Thursday said it could no longer release funds to Cyprus under its bailout this week, after the euro zone government suspended a foreclosure law that was required under the loan program. Cyprus needed an international bailout of 10 billion euros from the European Commission and the International...

  • EU leaders to endorse investment plan in search for growth Wednesday, 17 Dec 2014 | 12:45 PM ET

    BRUSSELS, Dec 17- European Union leaders will agree on Thursday to set up a highly leveraged investment fund they hope can kick-start the bloc's economy and reduce high unemployment and public debt. The plan, presented by the executive European Commission last month and set to be endorsed by the 28 national leaders at a Brussels summit, is to use 21 billion euros...

  • ZURICH, Dec 17- The Swiss National Bank chose the first female director in its 107- year history on Wednesday as it braces for a potentially tough policy test if the European Central Bank starts full-blown quantitative easing in 2015.. Andrea Maechler, deputy division chief at the International Monetary Fund, will head the SNB department responsible for the...

  • BRUSSELS, Dec 17- The International Monetary Fund estimates Ukraine needs another $15 billion in financing to withstand an economic crisis but the European Union has only limited capacity to help, European Commission President Jean-Claude Juncker said on Wednesday. Ukraine will need $15 billion in addition to what is already planned, "he told the European...

  • BRUSSELS, Dec 17- The International Monetary Fund estimates Ukraine needs another $15 billion in financing to withstand an economic crisis but the European Union has only limited capacity to help, European Commission President Jean-Claude Juncker said on Wednesday. "Ukraine will need more help. Ukraine will need $15 billion in addition to what is already...

  • EU'S JUNCKER SAYS IMF ESTIMATES UKRAINE NEEDS ANOTHER $15 BILLION IN FINANCING TO WITHSTAND AN ECONOMIC CRISIS, SAYS EU HAS LIMITED CAPACITY TO HELP.

  • European Commission concerned about Russian economy Wednesday, 17 Dec 2014 | 5:18 AM ET

    BERLIN, Dec 17- The European Commission is worried about recent developments in Russia and has no interest in seeing the country's economy hobbled, a Commission official said on Wednesday. "We are all watching the economic developments in Russia with concern," the official said at a briefing in Berlin ahead of a summit of European Union leaders that starts on...

  • Federal Reserve stared down a volatile global economy in October to keep its plans for an eventual interest rate hike on track, and is likely to do so again this week amid plunging oil prices and a potential currency crisis in Russia. According to the Bank for International Settlements, U.S. bank exposure to Russia has fallen from $43 billion at the start of 2013 to...

  • TOKYO, Dec 16- The Russian rouble rebounded from record lows on Tuesday after the Russian central bank hiked interest rates to halt a collapse in its currency, while the backdrop of falling oil prices and concerns over global growth supported the safe-haven yen. U.S. crude futures fell 3.3 percent on Monday after OPEC once again said it will not cut oil output...

  • WASHINGTON, Dec 15- Argentina has taken all the required steps so far to revamp its economic data but must still meet one more deadline as it seeks to bring the quality of its statistics in line with global standards, the International Monetary Fund's board said on Monday. The IMF, which requires accurate data to analyze the world's economies, censured Argentina...

  • WASHINGTON, Dec 15- Argentina has taken all the requisite steps so far to revamp its economic data, but it must still meet one more deadline as it seeks to bring the quality of its data in line with global standards, the International Monetary Fund's board said on Monday. The IMF, which requires accurate statistics to analyze the world's economies, censured...

  • MOSCOW, Dec 9- The World Bank said on Friday it expected the Russian economy to contract by 0.7 percent in 2015 in its new baseline scenario before growing by 0.3 percent in 2016.. The new baseline, or most likely scenario, assumes an average oil price of $78 per barrel for 2015 and of $80 per barrel for 2016.. "Investment is projected to contract for a third year in a row...

  • WORLD BANK SAYS IN NEW BASELINE SCENARIO RUSSIAN ECONOMY WILL CONTRACT BY 0.7 PCT IN 2015, GROW 0.3 PCT IN 2016.

  • VERACRUZ, Mexico, Dec 8- Mexican economic growth is likely to come in weaker than had been forecast for both this year and next after third-quarter gross domestic product missed expectations, the head of the Organisation for Economic Co-operation and Development said on Monday. Last month, Mexico's Finance Ministry downwardly revised its own 2014 growth...

  • BRUSSELS, Dec 8- The European Union has drawn up a wish list of almost 2,000 projects worth 1.3 trillion euros that could be included in an investment plan intended to revive the continent's stagnant economy without going deeper into debt. Other projects on the list, which officials stress is not definitive, include housing regeneration in the Netherlands, a new...

  • SANTIAGO, Dec 5- The slide in oil prices will probably cut Canadian economic growth by 1/ 3 of a percentage point in 2015, not the 1/ 4 point the Bank of Canada estimated in late October, bank Governor Stephen Poloz told Reuters on Friday. He was speaking on the sidelines of an International Monetary Fund forum in Santiago two days after he held the central bank's...

  • NEW DELHI, Dec 4- India will press the Group of 20 economies to set a two-year deadline to reduce the cost of international money transfers, two government sources said, potentially saving more than $20 billion for developing countries. The world's largest recipient of remittances- of about $70 billion a year- won the backing of G20 leaders last month in Brisbane...