The head of an International Monetary Fund team visiting Ukraine gave a positive assessment of progress by Kiev on reform on Sunday and said there would be further discussion on loans that the near-bankrupt country badly needs.
Government
Greece will not pay IMF on Friday without prospect of a deal: lawmaker
Greece will not make a June 5 repayment to the International Monetary Fund if there is no prospect of an aid-for-reforms deal with its international creditors soon, the spokesman for the ruling Syriza party's lawmakers said on Wednesday.
Chinese economy faces more pain than gain this year
China's economic growth, already at its slowest in decades, will get worse before it gets better, as economists say it will take time before liberalizing reforms turn net positive, and Beijing needs to bite more such bullets for a sustainable turnaround.
Fed's Brainard: global troubles weighing on U.S., may delay rate hike
It may be impossible for the Federal Reserve to raise interest rates until the rest of the world economy improves, Fed board member Lael Brainard said on Tuesday, in the most direct acknowledgement yet of how weak global markets could handcuff the U.S. central bank.
EU's Oettinger says Greece deal still possible this week
Germany's EU Commissioner Guenter Oettinger said on Monday it might still be possible for Greece and its creditors to reach a deal this week.
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Greece and its European creditors agreed on the need to reach a cash-for-reforms deal quickly as Athens missed a self-imposed Sunday deadline for reaching an agreement to unlock aid, sources close to the talks said.
Greece's government is confident of reaching a deal with its creditors this week and is open to pushing back parts of its anti-austerity program to make that happen, the country's interior minister said Saturday.
Years of uncertainty and economic pain spent keeping Greece in the euro zone boils down in June to a handful of make-or-break debt repayments, while a raft of key data in the next few days will point to the progress of the global economy.
Prime Minister Modi ramped up spending on roads, railways and rural infrastructure in April to boost economic growth, after $19 billion in cuts brought public investment shuddering to a halt at the end of the last fiscal year.
Short term policies could stabilize China's slowing economy in the second half of this year, but for growth to make a lasting recovery Beijing should foster new sectors and innovation, a government think tank's chief economist was reported as saying on Saturday.
India's economy grew faster than China's in the quarter through March, data showed on Friday, but a sharp downward revision for the previous quarter fuelled doubts about the accuracy of a new method used to measure economic activity.
The U.S. economy likely contracted in the first quarter as it buckled under the weight of unusually heavy snowfalls and a resurgent dollar, but activity since has rebounded modestly.
China's factories struggled to expand in May despite recent interest rate cuts and other policy stimulus, a Reuters poll showed, suggesting the government may have to do more to halt a protracted slowdown in the economy.
Former Federal Reserve Chairman Ben Bernanke said that China's economic slowdown should not worry markets as there was no risk of a hard landing, and emphasized that a move to raise U.S. rates should be viewed as a positive sign for the world's largest economy.
