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Greece will have no funds access if payment missed: IMF WASHINGTON: Greece will have no access to financing from the International Monetary Fund if it misses a loan payment, an IMF spokesman said Thursday."Any country that doesn't meet its commitment with the Fund... is declared in arrears and they have no access to IMF funding," IMF spokesman William Murray said.Copyright AFP (Agence France-Presse), 2015

US pending home sales race to nine-year high in April WASHINGTON: Contracts to buy previously owned U.S. homes rose for a fourth straight month in April to a nine-year high, buoying the outlook for the housing market.The National Association of Realtors said on Thursday its Pending Home Sales Index, based on contracts signed last month, increased 3.4 percent to 112.4, the highest level since May 2006.These contracts become sales after a month or two, and last month's increase pointed to a pick-up in home resales ...

Mexico jobless rate stable in April at over 2-year low MEXICO CITY: Mexico's jobless rate was stable in April, staying at a more than two-year low and raising hopes for strengthening domestic demand in Latin America's No. 2 economy.Mexico's seasonally adjusted unemployment rate was 4.3 percent in April, the national statistics agency said on Thursday, on par with its rate in March, its lowest since at least January 2013.Mexico's government last week slashed its economic growth forecast to between 2.2 percent to 3.2 percent this ...

Canada current account gap widens in Q1 OTTAWA: Canada's current account deficit widened again in the first quarter to C$17.47 billion ($13.98 billion) after narrowing in the first three quarters of 2014, data from Statistics Canada showed on Thursday.That was shy of forecasts for a deficit of C$18.5 billion. The fourth-quarter deficit was revised to C$13.05 billion from the initially reported C$13.92 billion. It was the second-largest deficit on record.The widening of the deficit over the last two quarters was mainly due ...

US weekly jobless claims rise but remain at low level WASHINGTON: New claims for US unemployment insurance benefits rose last week but remained at a modest level of layoffs, signaling a firm jobs market, government data released Thursday showed.The Labor Department said jobless claims rose by 7,000 to 282,000 in the week ending May 23. The prior week's level was revised up by 1,000 to 275,000.The increase last week was unexpected; the average estimate was for claims to remain unchanged at 274,000.There were no special ...

Spain's wealth gap widens as economy powers ahead MADRID: Government and consumer spending helped Spain's economy power ahead in the first quarter, data showed, though evidence is also growing that the recovery has increased inequalities rather than reducing them as it has picked up pace.The economy, and especially a labour market in which nearly one in four remains out of a job, will be a key battleground in a national election due in November.Leaders of the governing centre-right People's Party (PP) have said ...

UK first-quarter growth sapped by surge in imports LONDON: Britain sucked in imports in the first three months of 2015, and its large services sector performed weaker than first thought, casting doubt over the strength of its previously robust recovery.The economy grew 0.3 percent in the first quarter, the Office for National Statistics said on Thursday, confirming an initial estimate which the Bank of England and most other economists had thought too gloomy.The first-quarter growth rate was half that seen in the last ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 26, 2015
Reserves $17.749 bln