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World Economy Economic Organizations

  • 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...

  • BRUSSELS, June 12- Euro zone finance ministers and the International Monetary Fund are likely to strike a compromise on Greece on Thursday, paving the way for new loans for Athens while leaving the contentious debt relief issue for later, officials said on Monday. IMF head Christine Lagarde suggested a plan last week under which the Fund would join the Greek...

  • BERLIN, June 12- The Organisation for Economic Co-operation and Development and the African Development Bank expect economic growth in Africa to pick up this year and next. Presenting their latest forecasts at the sidelines of a G20 Africa summit in Berlin, both organisations forecast gross domestic product to expand by 3.4 percent this year after 2.2...

  • DUBLIN/ LONDON, June 9- When British Prime Minister Theresa May called a snap election in April, then-French presidential candidate Emmanuel Macron was the one supposedly set to struggle to govern effectively with a parliamentary majority. European Union leaders fear May's dramatic electoral miscue will delay Brexit talks due to start this month and so...

  • WASHINGTON, June 8- The International Monetary Fund welcomed a decision by the European Central Bank on Thursday to keep interest rates unchanged, saying the bank's strategy had helped improve credit conditions and support a firm recovery of output.

  • **SERBIA- National Bank of Serbia interest rate decision. **NEW DELHI- Reserve Bank India Deputy Governor Viral Acharya and Chief Economic Adviser to the government of India Arvind Subramanian speaks at an Indian Council for Research on International Economic Relations two-day conference on G20 affairs in India. **BEIJING- California Governor Jerry Brown...

  • *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...