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Economy News

Pakistan's finance minister resigns ahead of IMF deal

Islamabad - Pakistan's finance minister Asad Umar has stepped down, he announced Thursday, with no replacement yet named as Islamabad seeks a crucial bailout deal with the International Monetary Fund.

China says US trade agreement not yet settled

Bejing - China said Thursday there is "still much work to finish" on the text of a trade agreement with the United States.

Seoul seeks to capitalise on Stalin's Korean deportations

Seoul - South Korean president Moon Jae-in meets ethnic Koreans in Central Asia this week as he looks to capitalise on the enduring legacy of Joseph Stalin's mass deportations more than 80 years ago.

How Brexit threatens Falklands' economy — and Spanish fishermen

Madrid - A no-deal Brexit would deal a severe blow to the economy of Britain's Falkland Islands which is heavily dependent on squid exports -- and to Galicia in Spain where almost all of the molluscs are sent.

US firms in China frustrated, business lobby says

Bejing - American firms in China remain frustrated and are growing more pessimistic about their prospects in the country, a top business lobby said Wednesday, while a trade war between Washington and Beijing continues to fester.

Five things that went wrong for India's Jet Airways

Mumbai - India's Jet Airways was teetering on the brink of collapse Wednesday, operating just five planes and waiting for lenders to release emergency funds to keep the debt-saddled carrier flying.

Germany set to further slash 2019 growth forecast

Berlin - Berlin is set to further lower its economic growth forecast Wednesday as Europe's largest economy cools off, but ministers are unlikely to bend to foreign demands to boost activity with extra government spending.

Money, money, money: the tycoon factor in India's election

Mumbai - India's tycoons are playing a pivotal role in the Asian giant's most expensive election ever, from funding campaigns and tacit endorsements to being hot-button issues themselves.

Indonesia polls bring battle over China's Belt and Road push

Jakarta - Indonesia has become the latest election battleground for Beijing's soaring economic clout, as the opposition warns pro-China policies are saddling the mineral-rich archipelago with bad debt as it is sold off piecemeal to foreign interests.

Independence has served central banks well: IMF's Lagarde

Washington - Government respect for the independence of central banks has served them well in their mission, International Monetary Fund chief Christine Lagarde said Saturday.

Optimism rising over US, China trade accord

Washington - Trade frictions are seen as a the main source of uncertainty for a slowing global economy, but there are more glimmers of hope for a US-China agreement.

US seeks $10 bn trade finance fund for Venezuela: Mnuchin

Washington - The United States is working with a group of countries to build a $10 billion fund to help Venezuela rebuild trade once a new government is in place, Treasury Secretary Steven Mnuchin said Saturday.

Colombia receives $31.5 mn to address Venezuela refugee crisis: World Bank

Washington - Colombia will receive a $31.5 million grant to help deal with the flood of refugees from neighboring Venezuela, the World Bank announced Friday.Colombia has received about a third of 3.

Recovery from Venezuela's 'economic implosion' could take decades: IMF

Washington - Recovering from its "economic implosion" will take Venezuela "a decade or decades," a top International Monetary Fund official told AFP on Friday.

Recovery from Venezuela's 'economic implosion' could take decades: IMF

Washington - Recovering from its "economic implosion" will take Venezuela "a decade or decades," a top International Monetary Fund official told AFP on Friday.

Climate change is now a fact of life in Atlantic Canada fishery

A new report by Canada's Department of Fisheries and Oceans says warming sea temperatures off Nova Scotia have led to declines in northern shrimp and snow crab.

Germany under increasing pressure to boost spending

Washington - European economic power Germany is coming under increasing pressure to boost spending to accelerate economic growth, as its massive surpluses create growing friction with other countries.

Growing EU policy disputes could undermine common currency: French minister

Washington - Widening differences over economic policy among euro area countries are "unsustainable" and could undermine the currency union itself, French Finance Minister Bruno Le Maire said Friday.

China courts eastern Europe after key EU summit

Dubrovnik - Chinese Premier Li Keqiang will meet leaders from eastern and central Europe in Croatia on Friday to talk business, fresh from a key summit with EU where he pledged opening up his country's economy.

US says countries reviewing aid plan for Venezuela

Washington - US Treasury Secretary Steven Mnuchin said Thursday that a group of countries are discussing plans to provide financial support to Venezuela, amid the country's economic collapse.

IMF, World Bank urge caution with China loans

Washington - Increased lending by China to developing nations is increasingly under the spotlight amid concerns that growing debt burdens and onerous conditions could sow the seeds of a crisis.

IMF's Lagarde: Argentina would be 'foolish' to abandon reforms

Washington - Argentina's economic reform program is beginning to show results, so it would "foolish" for presidential candidates to abandon the program, International Monetary Fund chief Christine Lagarde said Thursday.

IMF awaits decision on Venezuela government recognition

Washington - World governments are working on recognizing a Venezuelan government, a key step before international aid can flow into the crisis-stricken country, IMF chief Christine Lagarde said Thursday.

IMF: No transactions with Venezuela while leadership in doubt

Washington - The International Monetary Fund will not have any contact with Venezuela, nor allow the country to access its reserves held by the institution, until the international community recognizes a government in Caracas, an IMF spokesman said Wednesday.

IMF: No transactions with Venezuela while leadership in doubt

Washington - The International Monetary Fund will not have any contact with Venezuela, nor allow the country to access its reserves held by the institution, until the international community recognizes a government in Caracas, an IMF spokesman said Wednesday.

Defiant Cuba enacts new constitution amid US pressure

Havana - Communist-run Cuba enacted new constitution Wednesday that recognizes the role of the free market in the country's future while championing socialism as Havana faces increasing US pressure.

IMF warns rising debt makes economy more vulnerable

Washington - Rising corporate and government debt levels and the sharp increase in more risky lending could leave the global economy vulnerable to another severe downturn, the International Monetary Fund warned Wednesday.

Italy raises 2019 budget deficit forecast, risking EU ire

Milan - Italy's populist government on Tuesday defiantly raised its 2019 budget deficit forecast to 2.4 percent of GDP, incurring the risk of a new row with the EU over fiscal discipline.

New World Bank chief says urgent to focus on poverty

Washington - Newly-installed World Bank President David Malpass spent his first day at the global lender Tuesday hammering home the message that the most urgent issue facing the bank is addressing global poverty.

IMF cuts US growth forecast, warns of growing risks

Washington - The International Monetary Fund on Tuesday cut its US growth forecast significantly for 2019 but said the United States is still likely to outpace other advanced nations as the world economy slows.
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Reinhart  Schoenholtz  Coronado at the Economic Outlook Forum at NYU Stern on September 3  2014
Reinhart, Schoenholtz, Coronado at the Economic Outlook Forum at NYU Stern on September 3, 2014
Canberra: Bus Depot Markets.
Canberra: Bus Depot Markets.
Stephan Ridgway
Untitled
Donald J. Trump
Berlin:  We are the Champions
Berlin: "We are the Champions"
Hawaii: APEC 2011
Hawaii: APEC 2011
APEC
millenials by the numbers
millenials by the numbers
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"We are the Champions": Zukunftskongress Gesundheitswirtschaft des Bundesministeriums für Gesundheit in Berlin
Backus  Schoenholtz  Coronado  and Reinhart at the Economic Outlook Forum at NYU Stern on September ...
Backus, Schoenholtz, Coronado, and Reinhart at the Economic Outlook Forum at NYU Stern on September 3, 2014
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The economic divide in Cabbagetown.
Sen. Hatch  left  enjoys some Ogden chili.
Sen. Hatch, left, enjoys some Ogden chili.
Hatch DC office
Coronado  Schoenholtz  Reinhart  and Backus at the Economic Outlook Forum at NYU Stern on September ...
Coronado, Schoenholtz, Reinhart, and Backus at the Economic Outlook Forum at NYU Stern on September 3, 2014
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US GDP 2010 to 2012
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Shoppers entering a Loblaws store.
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UK: HM Treasury entrance
HM Treasury
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Eurozone is lost in translation as EU collapses
President Obama delivers his State of the Union address at the U.S. Capitol  D.C.
President Obama delivers his State of the Union address at the U.S. Capitol, D.C.
Lawrence Jackson / White House
Geithner to leave in consideration of family.
Geithner to leave in consideration of family.
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Fred Olsen Windcarrier's Brave Term jack-up vessel was used in the construction of the Block Island Wind Farm.
Fred Olsen Windcarrier
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The French Stock Market (La Bourse) in Paris
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Occupy London: The piazza of St Paul’s Cathedral
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