WTO SAYS MAIN VARIABLE IN WORLD TRADE FORECASTS IS SPEED OF EU ECONOMIC RECOVERY.» Read More
Finance leaders of the G-20 economies on Friday edged away from a long-running drive toward government austerity in rich nations, rejecting the idea of setting hard targets for reducing national debt in a sign of worries over a sluggish global recovery.
The euro zone will slow its budgetary belt-tightening to help reinvigorate economic growth, a top EU official said on Thursday.
Officials from the European Union and the International Monetary Fund return to Athens on Sunday to assess Greece's performance under a bailout plan.
Japan's government is likely to nominate Asian Development Bank President Haruhiko Kuroda, an advocate of aggressive monetary easing.
A $2 trillion economy and a stock market that trades at valuations cheaper than Pakistan - Russia is struggling to gain the trust of international capital.
With the road ahead looking a bit smoother, G20 finance ministers will be happy to ignore the wreck in the rear-view mirror when they meet this week to steer a course for the world economy.
The world's top economic policymakers are likely to discuss how Japan's new monetary and fiscal policy drive is weakening the yen when they meet next month, but will stop well short of calling it a competitive devaluation, G20 officials said.
The European Central Bank should keep monetary policy easy and perhaps try to lower borrowing costs further to help the euro zone's struggling economy, the head of the International Monetary Fund said on Thursday.
A frustratingly slow economic recovery in developed nations is holding back the global economy, the World Bank said on Tuesday, as it sharply cut its outlook for world growth in 2013.
Latin American markets have been a prime target for Spanish companies because of their language advantage, and giants such as Telefonica and Banco Santander have increased their exposure there to compensate for problems in their domestic market.
The Asian Development Bank lowered its 2012 and 2013 growth estimates for developing Asia on Friday as frail global demand drags on the region.
Greece has hired Deutsche Bank and Morgan Stanley to conduct a voluntary buy back of its debt, a senior finance ministry official told Reuters.
The OECD slashed its global growth forecasts on Tuesday, warning that the debt crisis in the recession-hit euro zone is the greatest threat to the world economy.
The state’s grip on the economy has been tightening. Could foreign pressure persuade the new leadership to reverse course?
World trade will grow by a mere 2.5 percent this year, dragged down by Europe to less than half of the previous 20-year average, the World Trade Organization (WTO) said on Friday.