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'Major advances' in Greek proposals: French economy minister MADRID: French Economy Minister Emmanuel Macron said on Friday he was "reasonably optimistic" on the possibility of the eurozone reaching an agreement with Greece, saying Athens has made "major advances" in its latest proposals."I believe that major advances have been made in the last few days," said Macron in Madrid, the day after Greece submitted its new proposals to creditors."The level of the reforms are in line with what was expected," he said, adding that it made him "reasonably optimistic."Copyright AFP (Agence France-Presse), 2015 ...

Greek proposals 'serious and credible': Hollande PARIS: French President Francois Hollande on Friday welcomed the latest proposals from Athens on a fresh bailout plan as "serious and credible"."The Greeks have shown a determination to want to stay in the eurozone because the programme they are presenting is serious and credible," Hollande said after Athens laid out details of a pensions overhaul and tax hikes in return for debt relief."The coming hours will be important," Hollande said, adding that "nothing is decided ...
Greece submits reforms to creditors to stay in euro ATHENS: Lawmakers in Greece will vote as early as Friday whether to back a last-ditch reform plan the government submitted to creditors overnight in a bid to stave off financial collapse and exit from the eurozone.Prime Minister Alexis Tsipras's administration handed the package to eurozone partners just two hours before a midnight deadline.The offer, set out in a 13-page document, concedes to Greece's paymasters on several key points that Tsipras's ruling coalition -- and the ...
'Major' decision on Greece on Saturday: Dijsselbloem THE HAGUE: Eurozone finance ministers will make a 'major' decision Saturday on the latest proposals from Athens on a fresh bailout plan, Eurogroup chief Jeroen Dijsselbloem said Friday."We have to make a major decision. Whichever way," Dijsselbloem, who is also the Dutch finance minister told reporters ahead of a cabinet meeting in The Hague.Copyright AFP (Agence France-Presse), 2015 ...
Merkel insists Greece debt haircut 'out of the question'    SARAJEVO: German Chancellor Angela Merkel reiterated Thursday that she opposes a debt "haircut" for Greece, a day after IMF chief Christine Lagarde called for debt restructuring for the crisis-hit country."I have said that a classic haircut is out of the question for me and that hasn't changed between the day before yesterday and today," Merkel told reporters on a visit in Sarajevo.Merkel said she couldn't yet comment on the latest proposals the left-wing government in ...
Erdogan asks PM Davutoglu to form new Turkey government ANKARA: Turkish President Recep Tayyip Erdogan on Thursday asked Prime Minister Ahmet Davutoglu to form the new government, over a month after legislative elections in which the ruling party lost its overall majority.Erdogan mandated Justice and Development Party (AKP) chief Davutoglu to form the new government in talks at his presidential palace in Ankara, the presidency said in a short statement on its website.Davutoglu now has 45 days to form a coalition, after which new ...
Deadline looms for Greece to submit bailout plan ATHENS: Greece was to submit a detailed bailout request to its eurozone partners Thursday in a last-ditch effort to save its collapsing economy and its place in the euro, in an unprecedented test of EU cohesion.With the crisis reaching a climax that could have unpredictable consequences, the EU president urged creditors to compromise on granting debt relief to Greece.The radical left government of Greek Prime Minister Alexis Tsipras has until midnight Brussels time (2200 GMT) ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln