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World Economy Economic Organizations

  • June 23- U.S. ratings agency Moody's Investors Service upgraded Greece's long-term issuer rating to' Caa2' from' Caa3' following the extension of a credit lifeline to the country by euro zone governments. The euro zone government had given Greece another 11th- hour credit lifeline worth 8.5 billion euros, last week. The International Monetary Fund Managing...

  • BRUSSELS, June 23- The euro zone economy is growing and unemployment is falling, but underlying inflation is not rising because wage growth has not yet picked up, European Central Bank President Mario Draghi told European Union leaders. Draghi said that sentiment was improving because one of the major uncertainties weighing down confidence last year was...

  • TOKYO, June 21- Japan and the European Union are nearing a broad agreement on a free trade pact, Japanese Foreign Minister Fumio Kishida and a senior EU trade official agreed on Wednesday, the foreign ministry said. Japan and the European Union have been negotiating an Economic Partnership Agreement since 2013 to promote trade and investment by eliminating...

  • ABIDJAN, June 19- The International Monetary Fund's Executive Board approved $224.8 million in additional credit for Ivory Coast under an existing lending framework, it said in a statement on Monday. Ivory Coast has emerged from a 2011 civil war to become Africa's fastest growing economy, but the government has had to cut its budget this year amid falling cocoa...

  • TOKYO, June 19- The International Monetary Fund urged Japan to avoid withdrawing fiscal policy stimulus and said monetary policy should be loosened further if risks to the economy materialize, warning of weak consumption that remains vulnerable to external shocks. To clarify that stance and enhance communication of its policy, the central bank should "phase...

  • TOKYO, June 19- A senior International Monetary Fund official said on Monday that it was premature for the Bank of Japan to discuss an exit from massive monetary stimulus given that more time and efforts are needed to reach its 2 percent inflation target. "Right now there's a need for continued accommodation because the inflation rate in Japan remains well below...

  • TOKYO, June 19- A senior International Monetary Fund official said on Monday that it was premature for the Bank of Japan to discuss an exit from massive monetary stimulus given that more time and efforts are needed to reach its 2 percent inflation target. "Right now there's a need for continued accommodation because the inflation rate in Japan remains well below...

  • TOKYO, June 19- The International Monetary Fund urged Japan to avoid withdrawing fiscal policy stimulus and said monetary policy should be loosened further if risks to the economy materialize, warning of weak consumption that remains vulnerable to external shocks. To clarify that stance and enhance communication of its policy, the central bank should "phase...

  • TOKYO, June 19- The International Monetary Fund urged Japan to avoid withdrawing fiscal policy stimulus and said monetary policy should be loosened further if risks to the economy materialize, warning of weak consumption that remains vulnerable to external shocks. To clarify that stance and enhance communication of its policy, the central bank should "phase...

  • LONDON, June 16- The deluge of cash poured into the euro zone economy in recent years by the European Central Bank appears to have finally resulted in solid- and more importantly, steady- economic growth, along with rising inflationary pressures. To borrow a phrase from British Prime Minister Theresa May's ill-fated election campaign, it's beginning to look...

  • Euro zone governments threw indebted Greece another credit lifeline worth 8.5 billion euros on Thursday, offered further clarity on a roadmap to possible debt relief and the International Monetary Fund said it might join a bailout program after sitting on the fence for two years. A pro-government newspaper, Avgi, called it "The beginning of the end to the Greek...

  • LUXEMBOURG, June 16- European Union finance ministers agreed on Friday on rules setting the order in which bank creditors would be hit in case of wind-downs, in a bid to accelerate the build-up of banks' capital buffers to reduce the chances of public-funded bailouts. The deal, reached at a regular meeting of EU finance ministers in Luxembourg, defines a common EU...

  • LUXEMBOURG, June 16- European Union finance ministers are set to agree on Friday on rules setting the order in which bank creditors would be hit in case of wind-downs, in a bid to accelerate the build-up of banks' capital buffers to reduce the chances of public-funded bailouts. The agreement, likely to be reached in a regular meeting of EU finance ministers in...

  • *Creditors agree Greece has pushed through reforms. LUXEMBOURG, June 15- Euro zone governments threw Greece another 11th- hour credit lifeline on Thursday worth $9.5 billion and sketched new detail on possible debt relief as the IMF finally offered to help out after two years of hesitation. The 8.5 billion euros of loans from the euro zone's 18 other states,...

  • *Creditors agree Greece has pushed through reforms. LUXEMBOURG, June 15- Euro zone lenders agreed on Thursday to lend 8.5 billion euros to Greece, pulling the country from the brink of default, and gave some details on possible debt relief in 2018 as the International Monetary Fund agreed to join the bailout. The decision was taken at a meeting of euro zone finance...

  • BERLIN, June 15- Greek Economics Minister Dimitri Papadimitriou has accused German Finance Minister Wolfgang Schaeuble of being "dishonest" by blocking debt relief for Greece despite his acknowledgement that Athens has implemented significant reforms. Euro zone finance ministers and the International Monetary Fund are expected to strike a compromise...

  • BEIJING, June 14- China's economy generally remained on solid footing in May, but tighter monetary policy, a cooling housing market and slowing investment reinforced views that it will gradually lose momentum in coming months. China's fast start to the year led the International Monetary Fund on Wednesday to raise its 2017 growth outlook for the country to 6.7...

  • *IMF lifts 2017 growth forecast to 6.7 pct from 6.6 pct in April. BEIJING, June 14- The International Monetary Fund on Wednesday raised its forecast for China's 2017 economic growth to 6.7 percent, its third increase this year, citing "policy support, especially expansionary credit and public investment". "The critically important recent focus on tackling...

  • BEIJING, June 14- China needs to further tighten the flow of credit in its economy and funnel lending into economic activities that support real growth, International Monetary Fund deputy managing direct David Lipton told reporters in Beijing on Wednesday. The IMF on Wednesday raised its forecast for China's economic growth this year to 6.7 percent, citing "...

  • BEIJING, June 14- The International Monetary Fund on Wednesday raised its forecast for China's economic growth this year to 6.7 percent, citing "policy support, especially expansionary credit and public investment." The forecast was an increase from its already-raised April forecast of 6.6 percent. China's economy grew a faster-than-expected 6.9 percent in...