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Latin America stuck in slow gear: IMF WASHINGTON: Depressed commodity prices and the challenge of tougher capital market conditions will keep economic growth across Latin America and the Caribbean in slow gear, the International Monetary Fund said Tuesday.Largely on the back of the slowdown in the region's economic power Brazil, the IMF cut its forecast for regional growth this year to 2.5 percent, picking up to just 3.0 in 2015.That put the region at the low end of growth for emerging and developing countries, the IMF said. In January it had predicted growth at 2.9 percent in 2014 and 3.3 percent in 2015.But the dependence of the region on commodity exports -- mining output, oil, and food crops -- will see overall growth slower this year than last year's 2.7 percent, even as much of the rest of the world picks up speed.Moreover, the sharp slowdown in foreign investment will challenge policy makers to find domestic sources ...

IMF cuts Russia growth forecast over Ukraine crisis MOSCOW: The International Monetary Fund on Tuesday cut its growth forecast for Russia following Moscow's takeover of Crimea and warned the Ukrainian crisis could have much wider global knock-on effects.The Ukraine crisis and the ensuing diplomatic confrontation between Moscow and Western powers deepened Ukraine's long-running recession and prompted major capital outflows from Russia after Washington slapped targeted sanctions against Moscow.In its World Economic Outlook report, the IMF cut its GDP growth forecast for this year ...
IMF presses ECB to act soon against deflation WASHINGTON: The International Monetary Fund on Tuesday urged the European Central Bank to act as soon as possible to fend off the deflation threat, amid worries about weak eurozone growth.IMF chief economist Olivier Blanchard said the ECB had already studied the various stimulus measures it could take to boost spending and investment, including quantitative easing, negative interest rates, and securitization programs."I think they should all be looked at, and I know that the ECB is ...
British industrial output jumps: official data LONDON: Industrial output across Britain rose by a robust 0.9 percent in February compared with activity in January, official data showed on Tuesday, cementing the country's economic recovery.And over 12 months, output jumped by 2.7 percent, the Office for National Statistics (ONS) added in a statement. Manufacturing output -- which excludes mining and quarrying, electricity, gas and water supply -- grew by 1.0 percent in February compared with January. It increased by 3.8 percent year-on-year, ...
Greece raises 1.3bn amid bond speculation ATHENS: Greece on Tuesday raised 1.3 billion euros ($1.8 billion) with a sale of six-month treasury bills, and looked set to return soon to borrowing for longer periods after being frozen out for four years."Total bids reached 3.103 billion euros and the amount finally accepted was 1.3 billion euros," the Greek debt agency said in a statement.The interest rate fell to 3.01 percent from 3.6 percent in an equivalent sale in March, the agency said.There ...
Polish government deficit was 4.3pc/GDP in 2013 WARSAW: Poland's general government deficit stood at 4.3 percent of gross domestic product in 2013, a source on Tuesday quoted an official document as stating - below the European Commission's 4.4 percent forecast.Poland targets a surplus this year of 5.0 percent, reverting back to a deficit in 2015 which, at 2.9 percent, it expects to be below the EU ceiling of 3 percent.Both projections factor in pension reforms that include a one-time transfer of billions ...
South Africa's business confidence rises to 92.7 in March JOHANNESBURG: Business confidence in South Africa edged up to 92.7 in March from 91.9 in February, a survey by the South African Chamber of Commerce and Industry (SACCI) showed on Tuesday. SACCI said even though sub-indices on real economic activity were showing improvement, the business grouping remained concerned about factors such as unemployment, high indebtedness, inflation and rising interest rates impacting the consumer. Copyright Reuters, 2014 ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln