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IMF's Lagarde says Greece should not delay payments WASHINGTON: The head of the International Monetary Fund on Thursday signaled that the IMF would not agree to let Greece delay a scheduled bailout payment, saying the Fund needed to protect its sterling reputation as a global lender.Greece is fast running out of cash and its euro zone and IMF lenders have frozen bailout aid until the new leftist-led government in Athens reaches agreement on a package of reforms.That has raised fears the Greek government will not be able to make its next payments to the IMF, which total some $1 billion over the next month."We have never had an advanced economy asking for payment delays," IMF Managing Director Christine Lagarde said in response to reporters' questions on Greece's debt crisis.Asked whether that meant the Fund would not grant a delay if Athens asked for one, Lagarde answered indirectly."I can assure you that (IMF) management will do everything it can ...

US housing starts creep higher in March WASHINGTON: New construction of homes in the United States was stuck in the doldrums for a second straight month in March, according to government data released Thursday.Housing starts rose 2.0 percent in March to an annual rate of 926,00 units, but were down 2.5 percent from March 2014, the Commerce Department said.Starts increased less than expected as severe winter weather in February eased in March. On average, analysts expected a March rate of 1,045 units.Starts ...
German economic institutes hike 2015 growth forecast to 2.1pc BERLIN: Germany's leading economic institutes sharply raised their growth forecast Thursday, predicting Europe's top economy will expand 2.1 percent this year thanks to cheap oil, the low euro and strong consumer spending.The forecast by four research institutes was sharply higher than the 1.2 percent growth for 2015 they had predicted last autumn.Copyright AFP (Agence France-Presse), 2015 ...
Australia's jobless rate falls to 6.1pc SYDNEY: Australia's unemployment rate dipped to 6.1 percent in March, data showed Thursday, a better-than-expected reading that could ease pressure on the central bank to further cut interest rates.The figure was down from a revised 6.2 percent in February, as 37,664 positions were created, according to the Australian Bureau of Statistics. Analysts had forecast a reading of 6.3 percent with 15,000 jobs added.Full-time roles increased by 31,516 while part-time jobs rose 6,148. The participation rate, ...
Most regions of US growing: Fed report WASHINGTON: Most regions of the US economy expanded in recent weeks, and there was "modest" upward pressure on wages and overall prices, the Federal Reserve said in a report Wednesday.Ten of the Fed's 12 districts reported "moderate", "modest" and for one, "slight" growth, while conditions were flat in Atlanta and Kansas City, according to the Beige Book."Weakening activity was attributed in part to the strong dollar, falling oil prices, and the harsh winter weather," it ...
US industrial production falls in March WASHINGTON: US industrial production fell sharply in March, pulled down by lower utility output as bad winter weather faded, the Federal Reserve said Wednesday.Total industrial output fell 0.6 percent, after a minimal 0.1 percent rise in February.The March drop was double what analysts expected.Utilities output slid 5.9 percent, largely reversing February's increase that was weather-related.Mining output fell for the third straight month, but by a smaller 0.7 percent.Manufacturing eked out a 0.1 percent gain after ...
Euro zone surplus widens but trade with Russia plummets BRUSSELS: An increase in exports and stable imports helped the euro zone widen its trade surplus in February, although by slightly less than expected, as a weaker euro helped soften the continued fall in sales to Russia.Unadjusted for seasonal swings, exports to the rest of the world rose 4 percent and imports were unchanged, taking the bloc's trade surplus to 20.3 billion euros ($21.47 billion) versus 14.4 billion euros in February 2014, the EU's statistics ...

 



 
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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%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln