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Greek central banker optimistic on chances of debt deal LONDON: The chances of Greece doing a deal with its European creditors have grown since a meeting in Berlin this week, Greek central bank governor Yannis Stournaras said on Wednesday, adding that an exit from the euro would only bring his country more pain. Speaking to a packed hall at the London School of Economics, Stournaras also said the European Central Bank's latest increase in emergency funding for Greek banks showed that their situation going forward was stable. He laid out a list of improvements in Greece's economic situation over the past year and said that, provided it could cut a deal with its creditors, growth would continue to improve in 2016. But he warned against the idea of Greece leaving the euro - 'Grexit' - and said he was confident this would not happen. "Grexit would deliver no benefit but a lot of pain," he said. Financial markets remain ...

Brazil central bank allows currency support program to end BRASILIA: Brazil's central bank announced the end of a program to support the strength of the national currency, the real, despite its continued decline.In a statement sent Tuesday night, the bank explained its intervention program that expires on March 31 had "provided a sufficient volume of foreign exchange protection" and would not be extended.The central bank announced in August of 2013 it would spend over $50 billion in defense of the real through the auction ...
ECB tells Greek banks not to buy any more Greek government debt BERLIN: The European Central Bank has written to Greek banks urging them not to increase their exposure to Greek sovereign debt to avoid endangering the solidity of their finances, a source told AFP on Wednesday.The ECB, which took over as European banking supervisor last November, was concerned about the risk "that (Greek banks') balance sheets might be impaired by assets of low quality," said the source familiar with the central bank's thinking on the matter. ...
Bank of China profit growth slowest in six years as bad loans jump SHANGHAI: Bank of China Ltd (BoC) posted its slowest fourth-quarter net profit growth in six years on Wednesday as losses on bad assets doubled and unpaid loans jumped against a backdrop of a slower economy.China's fourth-largest lender reported net profit for the fourth quarter of 38.5 billion yuan ($6.2 billion), five percent higher than a year earlier and in line with analyst estimates, according to Thomson Reuters data.Rising bad loans and lower profit growth show ...
Indonesia central bank sees pressure on rupiah in March-June JAKARTA: Indonesia's central bank expects the rupiah to remain under pressure through June this year as dollar demand rises for dividend payments, Bank Indonesia Governor told parliament on Wednesday.The rupiah fell to its lowest level in 17 years last week at 13,245 per dollar. Though it has since recovered some ground to trade at 12,960 on Wednesday, it has still lost more than 4 percent against the greenback so far this year.Subsidiaries of multinational companies ...
Philippine central bank to hold rates on strong growth, low inflation MANILA: The Philippine central bank is expected to leave its main policy rate steady on Thursday and keep it unchanged for at least a few more months as low inflation and solid economic growth allow it to buck the global tide of monetary policy easing.All 11 economists polled by Reuters expect the Bangko Sentral ng Pilipinas (BSP) to leave the overnight borrowing rate steady at 4 percent for a fourth straight meeting.At least one analyst ...
Australia to join Asia infrastructure bank if conditions met SYDNEY, Australia will join a China-backed infrastructure bank if conditions such as multilateral and transparent governance are met, Prime Minister Tony Abbott said Wednesday, flagging an announcement "in the next few days".China and 20 other countries signed a memorandum last October of understanding to establish the Beijing-headquartered US$50 billion Asian Infrastructure Investment Bank (AIIB) bank.Britain, France, Germany and Italy have also announced plans to join.But Washington has voiced concern about whether the bank would meet ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln