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World Economy Economic Organizations

  • MEXICO CITY, Aug 10- Mexico could pull back on cooperation in migration and security matters if the United States walks away from talks to renegotiate the North American Free Trade Agreement, the Mexican economy minister said in a newspaper report published on Thursday. Ildefonso Guajardo, who will take part in the first round of NAFTA talks with U.S. and...

  • CAIRO, Aug 10- Egypt's key inflation rates soared to multi-decade highs on Thursday on the back of energy subsidy cuts agreed with the International Monetary Fund as a condition of its $12 billion three-year loan. Import-dependent Egypt has been hit by soaring inflation since it floated its currency in November, and since then the pound has roughly halved in...

  • LONDON, Aug 9- Unemployment in Nigeria, sub-Saharan Africa's largest economy, is running at more than 14 percent and climbing; in South Africa, the second largest economy, it is over 27 percent. For youth in both places, it is far more. This may seem bad enough, but according to International Monetary Fund calculations the sub-Saharan Africa region's jobs travails...

  • MEXICO CITY, Aug 8- Mexico will not close its wage gap with the United States without free movement of workers, Mexico's economy minister Ildefonso Guajardo said in an interview days before the start of a renegotiation of the North American Free Trade Agreement. Low wages in Mexico have made the country attractive to U.S. manufacturers under the 1994 trade deal, a...

  • MEXICO CITY, Aug 8- Mexico's economy minister sees a 60 percent probability that talks starting next week to renegotiate the North American Free Trade Agreement will be wrapped up by a soft deadline for the end of the year, he said in an interview on Tuesday. Ildefonso Guajardo, who will take part in the first round of NAFTA talks in Washington starting on Aug. 16, said...

  • MEXICO CITY, Aug 8- Mexico's Economy Minister Ildefonso Guajardo sees a 60 percent probability that talks starting next week to re-negotiate the North American Free Trade Agreement will be wrapped up by the end of the year, he said in an interview on Tuesday. The minister, who will take part in the first round of NAFTA talks in Washington starting on Aug. 16, said it...

  • *Rising output from OPEC, U.S. holding back prices. SEOUL, Aug 7- Oil prices edged lower on Monday but still held near nine-week highs, supported by robust U.S. jobs data last week and a slight fall in the U.S. drill rig count, even as rising output from OPEC capped crude markets. Global benchmark Brent crude futures were down 6 cents, or 0.11 percent, at $52.36 a barrel at...

  • *Rising output from OPEC, U.S. holding back prices. SEOUL, Aug 7- Oil prices edged lower on Monday but still held near nine-week highs, supported by robust U.S. jobs data last week and a slight fall in the U.S. drill rig count, even as rising output from OPEC capped crude markets. Global benchmark Brent crude futures were down 6 cents, or 0.11 percent, at $52.36 a barrel at...

  • *OPEC oil exports hit record high in July. NEW YORK, Aug 4- Oil prices rose on Friday after a strong U.S. jobs report bolstered hopes for growing energy demand, but crude prices declined for the week, pressured by rising OPEC exports and strong U.S. output. "Oil prices were supported by good news this morning on the U.S. jobs front," said Andrew Lipow, president of Lipow Oil...

  • *OPEC oil exports hit record high in July. NEW YORK, Aug 4- Oil prices rose after a strong U.S. jobs report bolstered hopes for growing energy demand, but crude prices remained on track for a small weekly decline, pressured by rising OPEC exports and strong output from the United States. "Oil prices were supported by good news this morning on the U.S. jobs front," said...

  • *Nigeria forecasts 2.2 pct growth this year. LAGOS, Aug 3- Nigeria and the International Monetary Fund disagree over how much the economy will grow this year, with the government saying 2.2 percent and the Fund opting for just 0.8 percent. Either would be an improvement on last year, when Nigeria suffered its first recession in more than two decades as low crude...

  • MEXICO CITY, Aug 3- Under a best-case scenario, a newly negotiated North American Free Trade Agreement between Mexico, the United States and Canada would not be implemented before the end of next year or the start of 2019, Mexico's economy minister said on Thursday. Mexico has set out the goals of prioritizing free access for goods and services, greater labor...

  • LAGOS, Aug 3- Nigeria and the International Monetary Fund disagree over how much the economy will grow this year, with the government saying 2.2 percent and the Fund opting for just 0.8 percent. Either would be an improvement on last year, however, when Nigeria suffered its first recession in more than two decades. Nigeria estimates record spending of 7.94...

  • WASHINGTON, July 28- The International Monetary Fund on Friday said that the U.S. dollar was overvalued by 10 percent to 20 percent, based on U.S. near-term economic fundamentals, while it viewed valuations of the euro, Japan's yen, and China's yuan as broadly in line with fundamentals. The IMF's External Sector Report- an annual assessment of currencies and...

  • SHANGHAI, July 28- China stocks ended higher on Friday, with the Shanghai benchmark index recording the sixth consecutive week of gains, bolstered by recent solid economic data and the country's pledge to persist with supply-side reforms. The International Monetary Fund said on Monday it now expected stronger growth of 6.7 percent in China in 2017, while a...

  • BUENOS AIRES, July 27- Argentina's central bank needs more autonomy to increase the effectiveness of its monetary policy, Organization for Economic Co-Operation and Development Chief of Staff Gabriela Ramos said on Thursday during a visit to the country. The OECD expects Argentina's economy to grow 2.9 percent in 2017 and 3.2 percent in 2018, according to...

  • LONDON, July 25- Uganda's new-found oil reserves may account for as much as 4 percent of its economy annually in coming years if managed well, the International Monetary Fund's country chief says. IMF Mission Chief for Uganda Axel Schimmelpfennig writes in a blog post that the country also needs some strategic infrastructure investment and better debt...

  • KUALA LUMPUR, July 24- The International Monetary Fund kept its growth forecasts for the world economy unchanged for this year and next, although it revised up growth expectations for the euro zone and China. In an updated World Economic Outlook released on Monday in Kuala Lumpur, the IMF said global gross domestic product would grow 3.5 percent in 2017 and 3.6...

  • LONDON, July 24- Britain has suffered the biggest downgrade of economic growth projections by the International Monetary Fund for the world's rich nations this year, prompting the finance ministry to renew its call for a smooth exit from the European Union. Britain's economy now looks set to grow by 1.7 percent this year, down from a forecast made in April of 2.0...

  • LONDON, July 24- Euro zone bond yields nudged up on Monday as an upward revision to economic growth forecasts from the International Monetary Fund highlighted a strengthening economy that could encourage the ECB to step back from its ultra-loose monetary policy. It shaved its forecasts for U.S. economic growth and cut its 2017 GDP forecast for Britain.