Finance & Economics

EU must have strong and flexible EU budget for 2014-2020, say political groups

The EU needs an adequate and flexible long-term budget to strengthen its economy and labour market, said most political group leaders in a debate on Wednesday. This was a signal to Thursday's extraordinary European Council, which will seek a political agreement on the EU's Multiannual Financial Framework for 2014-2020. The Council must agree unanimously, and any deal must be endorsed by Parliament.

Eurozone Finance Chiefs Resume Greek Bailout Talks

Eurozone finance chiefs are meeting in Brussels in another effort to decide whether to release more bailout money to debt-ridden Greece.

Trade among African countries essential to sustainable growth in the continent – Ban

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Building export consortia in Morocco.

Another Recession Hits Eurozone

Europe's euro currency bloc says it has fallen into its second recession in three years.

In Europe, Angry Workers Protest Austerity

Workers in several European countries went on strike Wednesday to protest austerity measures designed to help their governments get out of debt, but which cut their salaries, pensions and benefits.

IMF Managing Director Christine Lagarde Calls for Greater Regional Economic Cooperation in Asia

Christine Lagarde, Managing Director of the International Monetary Fund, highlighted on Wednesday the increasing leadership role that Asia plays in the global economy—and in the IMF.

Latin America: Tax revenues are rising, but still low and varied among countries

Tax structures in Latin America and OECD, 2010
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1. Unweighted average of the 15 Latin American and Caribbean countries in this publication. Chile and Mexico are also part of the OECD (34) group.
2. Represents the unweighted average for OECD member countries.

In Australia, US Renews Focus on Asia-Pacific

The United States is making sure there are no doubts about its intentions to remain a major player in the Asia Pacific region ahead of next week's visit by President Barack Obama.

New World Bank Group Strategy for Yemen Aims for Jobs and Better Governance

Employment and improved services will be critical for guaranteeing stability during transition period

The World Bank Group support for Yemen over the next eighteen months will focus on delivering tangible results that address immediate needs, restore confidence in the state and contribute toward a stable environment for the political transition.

New World Bank Report Finds 50 Percent Increase in Middle Class in Latin America and the Caribbean over Last Decade

Bank President Kim says world can learn from government policies that increased wealth for tens of millions

A new World Bank report released today found that Latin America and the Caribbean registered a 50 percent jump in the number of people joining the middle class during the last decade, which was called by economists an historic achievement for a region long riven by wealth inequality.