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World Economy Economic Organizations

  • ALGIERS, Nov 2- OPEC member Algeria's oil and gas output is expected to grow 6.5 percent in 2018, after a 2.7 percent fall projected for this year, the energy ministry said in a document seen by Reuters. Algeria's economy relies heavily on oil and gas, which account for 60 percent of the state budget and 95 percent of total exports. The government expects earnings...

  • KIGALI, Nov 1- The International Monetary Fund has cut its forecast for Rwanda's gross domestic product growth to 5.2 percent this year from 6.2 percent but projected a pick-up in 2018.. The downward revision follows weak growth in the first half of the year as a 2016 construction boom petered out, the IMF's mission chief for Rwanda, Laure Redifer, said at a meeting...

  • KIGALI, Nov 1- The International Monetary Fund cut its forecast for Rwanda's gross domestic product growth to 5.2 percent this year from 6.2 percent but projected a pick-up in 2018.. "We will have to revise down our projections from 6.2 percent to somewhere around 5.2 percent," Laure Redifer, the IMF's mission chief for Rwanda, said at a meeting in Kigali.

  • DUBAI, Oct 31- The International Monetary Fund has endorsed an ambitious Saudi Arabian plan to build a $500- billion business and industrial zone extending into Jordan and Egypt, saying the project could benefit the whole region. Jihad Azour, head of the IMF's Middle East department, said Riyadh would need to balance the huge cost of the zone and other economic...

  • IMF OFFICIAL SAYS PLAN FOR ZONE SHOWS REGIONAL ECONOMIC COOPERATION "BACK ON THE TABLE".

  • *Policy uncertainty looms large in Nigeria, South Africa. Nigeria and South African are the biggest economies in Africa south of the Sahara, but both nations have been clouded by political uncertainty linked to the tenure of their leaders. The IMF said a good harvest and recovery in oil output in Nigeria would contribute more than half of the growth in the region...

  • KIEV, Oct 26- The Ukrainian central bank on Thursday raised rates for the first time since March 2015 on a worsening inflation outlook and warned about the risks Kiev faces if it does not comply with its International Monetary Fund aid programme. It said the government must continue to cooperate with the IMF and expects Ukraine to receive $3.5 billion from the...

  • AMMAN, Oct 25- Jordan's high and rising public debt has worried the International Monetary Fund and prompted a downgrade from Standard& Poor's. After an IMF standby arrangement that brought some fiscal stability, Jordan agreed last year to a more ambitious three-year programme of long-delayed structural reforms to cut public debt to 77 percent of GDP by 2021..

  • MEXICO CITY, Oct 24- Mexico has no objection to any pledge with its NAFTA partners aimed at preventing currency manipulation, as long as it does not affect domestic monetary policy, Mexican Economy Minister Ildefonso Guajardo said on Tuesday. Mexico, the United States and Canada are in the midst of tough talks to renegotiate the North American Free Trade...

  • MEXICO CITY, Oct 24- Mexico has no objection to any pledge with its NAFTA partners aimed at preventing currency manipulation, as long as it does not affect domestic monetary policy, Mexican Economy Minister Ildefonso Guajardo said on Tuesday. Mexico, the United States and Canada are in the midst of tough talks to renegotiate the North American Free Trade...

  • WASHINGTON, Oct 17- The remaining countries of the Trans-Pacific Partnership hope to agree in November on how to preserve the market access enshrined in the trade deal, Mexico's economy minister, Ildefonso Guajardo, said on Tuesday. President Donald Trump took office in January and quickly withdrew the United States from the agreement. Leaders from the...

  • *Canadian dollar at C $1.2539, or 79.75 U.S. cents. Canada sends about 75 percent of its exports to the United States. Trade Representative Robert Lighthizer, Mexican Economy Minister Ildefonso Guajardo and Canadian Foreign Minister Chrystia Freeland are scheduled to meet and take stock of the negotiations before issuing statements at a joint event at 3 p.m..

  • OECD- UK MONETARY POLICY SHOULD REMAIN SUPPORTIVE, BOE SHOULD LOOK THROUGH INFLATION BOOST FROM WEAK POUND.

  • OECD- REVERSAL OF BREXIT WOULD HAVE SIGNIFICANT POSITIVE IMPACT ON ECONOMIC GROWTH.

  • ATHENS, Oct 17- Greece's economy fell into recession again last year, confounding its international creditors who had predicted some growth after years of budget austerity. Years of austerity imposed by the International Monetary Fund and European Union in exchange for bailouts have made many Greeks far poorer and shrunk consumption accordingly.

  • Canada and Mexico are grappling with tough demands by the United States to bring major changes to the North American Free Trade Agreement that are increasing the odds the pact will not survive. Canada sends about 75 percent of its exports to the United States, and its economy could suffer if the agreement is not renewed. "Negative NAFTA sentiment seemed to push...

  • WASHINGTON, Oct 14- A euro zone budget of several hundred billion euros is an ambitious idea, the head of euro zone finance ministers said on Saturday, suggesting loans from the bailout fund and transfers from the existing European Union budget could be more feasible. "Creating a whole new budget, inside or outside the European Union budget, of many hundred billion,...

  • "We need the help of market incentives, market pricing of risks to get the economics right in Europe," Dijsselbloem said on the sidelines of the International Monetary Fund's autumn meetings in Washington. Yet the budget rules, contained mainly in the Stability and Growth Pact that sets limits on government borrowing in European Union countries, have become...

  • WASHINGTON, Oct 14- International Monetary Fund members gave lukewarm endorsement to a strengthening global economy but conceded they were not out of the woods as they grappled with subdued inflation, low potential growth and an uneven recovery that clouded the outlook. "Structural reforms that were difficult to do in hard times would be much easier in better...

  • WASHINGTON, Oct 14- A euro zone budget of several hundred billion euros is an ambitious idea, the head of euro zone finance ministers said on Saturday, suggesting loans from the bailout fund and transfers from the existing European Union budget could be more feasible. "Creating a whole new budget, inside or outside the European Union budget, of many hundred billion,...