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World Economy Economic Organizations

  • *Trade seen rebounding 4.6 pct on boost from Asia. PARIS, June 7- The global economy is on course this year for its fastest growth in six years as a rebound in trade helps offset a weaker outlook in the United States, the OECD forecast on Wednesday. The global economy is set to grow 3.5 percent this year before nudging up to 3.6 percent in 2018, the Paris- based...

  • PARIS, June 7- The following are the updated forecasts for growth in major economies from the the Organisation for Economic Cooperation and Development, published on Tuesday in its latest economic outlook. Figures in paratheses are, for comparison, forecasts from the OECD's interim economic outlook dating from March 7. 2016 2017 2018 World 3.0 3.5 3.6 United...

  • *Trade seen rebounding 4.6 pct on boost from Asia. PARIS, June 7- The global economy is on course this year for its fastest growth in six years as a rebound in trade helps offset a weaker outlook in the United States, the OECD forecast on Wednesday. The global economy is set to grow 3.5 percent this year before nudging up to 3.6 percent in 2018, the Paris- based...

  • WASHINGTON, June 6- The United States and Mexico are close to announcing a sugar trade deal that will avert steep U.S. duties on Mexican sugar imports and clear a major obstacle from renegotiation of the NAFTA trade agreement, Mexican Economy Minister Ildefonso Guajardo said on Tuesday. The deal, which was still coming together on Tuesday morning, will reduce the...

  • WASHINGTON, June 6- Mexican Economy Secretary Ildefonso Guajardo said on Tuesday that the North American Free Trade Agreement's rules of origin can be improved but denied that Mexico was a "back door" for Chinese goods to enter the United States. Speaking in a live interview on CNBC, Guajardo also said he believed there were grounds to believe that NAFTA can be...

  • BERLIN, June 5- International Monetary Fund Managing Director Christine Lagarde has offered Greece's European creditors a way out of their impasse over Athens' debts that would allow the euro zone to release a tranche of aid later this month. The IMF believes Greece needs a debt haircut, which Germany rejects. Greece has about 7 billion euros of debt maturing in...

  • MEXICO CITY, May 31- Mexico's Economy Minister Ildefonso Guajardo said on Wednesday there are "incentives" to wrap up the renegotiation of the North American Free Trade Agreement by the end of the year due to upcoming elections in the United States and Mexico. Mexico sends the vast majority of its exports north to the United States, and local officials view the...

  • OTTAWA, May 31- The Bank of Canada should keep interest rates low and Canada's federal government should be ready with more fiscal stimulus in the event of an economic downturn, the International Monetary Fund said on Wednesday in a report that reiterated warnings about Canada's hot housing market and high household debt. In an annual assessment of Canada's...

  • *Oil market flounders on oversupply worries despite OPEC deal. NEW YORK, May 30- World stock prices softened on Tuesday on concerns about the political outlook in Europe and U.S. economic growth, and nervous investors piled into yen and low-risk U.S. and German government bonds. "There have been some softness in U.S. economic data, and there are some less...

  • NEW DELHI, May 29- India's economy could achieve double-digit growth if New Delhi pushes reforms to increase women's participation in the country's workforce, a World Bank report said on Monday. Underscoring the gravity of the situation, the World Bank said nearly two-thirds of Indian women with college degrees are without jobs. The unemployment rate for...

  • NEW DELHI, May 29- India's economy could achieve double-digit growth if New Delhi pushes reforms to increase women's participation in the country's workforce, a World Bank report said on Monday. Underscoring the gravity of the situation, the World Bank said nearly two-thirds of Indian women with college degrees are without jobs. The unemployment rate for...

  • *Japan, euro zone performing better than expected. LONDON, May 26- The dip in the U.S. economy is a "splutter" rather than a more serious downturn, the International Monetary Fund's chief economist said, though policy uncertainty in Washington was making forecasting increasingly difficult. In an interview with Reuters, Maurice Obstfeld, who is nearing his two-year...

  • BOGOTA, May 25- Colombia's economy has proved resilient despite the global fall in oil prices but should adopt OECD recommendations for reforms in everything from education to infrastructure, the OECD said in a report on Thursday. The Organization for Economic Co-operation and Development said solid macroeconomic policy and some tax reforms made Colombia "...

  • BOGOTA, May 25- Colombia's economy has proved resilient despite the global fall in oil prices but should adopt OECD recommendations for reforms in everything from education to infrastructure, the OECD said in a report on Thursday. The Organization for Economic Co-operation and Development said solid macroeconomic policy and some tax reforms made Colombia "...

  • BOGOTA, May 25- Colombia's economy has proved resilient despite the global fall in oil prices but should adopt OECD recommendations for reforms in everything from education to infrastructure, the OECD said in a report on Thursday. The Organization for Economic Co-operation and Development said solid macroeconomic policy and some tax reforms made Colombia "...

  • BOGOTA, May 25- Colombia's economy has proved resilient despite the global fall in oil prices but should adopt OECD recommendations for reforms in everything from education to infrastructure, the OECD said in a report on Thursday. The Organization for Economic Co-operation and Development said solid macroeconomic policy and some tax reforms made Colombia "...

  • BEIJING, May 25- The International Monetary Fund said on Thursday it approved a three-year financial arrangement of about $434.3 million to support Mongolia's economic reform programme. The IMF said in a statement that Mongolia was hit hard by the sharp decline of commodity prices and the slowdown in key export markets, and the government is therefore...

  • Speaking to Reuters in an interview, Mario Centeno said he was confident about Portugal's improving economic outlook after years in the doldrums during the euro zone debt crisis, when the country was forced to seek a bailout. "The fact is that we are converging with the European Union, we are finally converging." Portugal has been one of Europe's slowest-growing...

  • ACCRA, May 24- Ghana's producer price inflation fell to 4.8 percent year-on-year in April from 6 percent the month before, as a stronger local currency cut import prices, the statistics office said on Wednesday. Producer inflation has come down from more than 48 percent in 2014, a sign of progress in stabilizing the economy under an International Monetary Fund...

  • MOSCOW, May 23- Russia's oil-dependent economy is expected to grow from 2017 onwards, supported by higher global crude prices and oil production rising to new post-Soviet highs, the World Bank said on Tuesday. It said its latest growth forecasts were based on the assumption that crude prices would average $55 a barrel this year, $60 in 2018 and $61.5 in 2019, and...