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The dollar was back on the front foot on Wednesday, making modest gains after earlier losses from renewed bets on Federal Reserve rate cuts this year, while the yen eased towards the 155 per dollar level and kept intervention risks from Tokyo high. The dollar was back on the front foot on Wednesday, making modest gains after earlier losses from renewed bets on Federal Reserve rate cuts this year, while the yen eased towards the 155 per dollar level and kept intervention risks from Tokyo high. Analysts have said that any intervention from Tokyo would only serve as a temporary respite for the yen, given stark interest rate differentials between the U.S. and Japan remain. Analysts expect the central bank to leave the door open to lower interest rates as early as June. The Australian dollar fell 0.2% to $0.6585, pressured in part by a less hawkish outlook from the Reserve Bank of Australia than anticipated after it held interest rates steady on Tuesday.

Persons: Kazuo Ueda, Shunichi Suzuki, they'll, Carol Kong, Neel Kashkari, Kashkari, Rodrigo Catril Organizations: Federal, U.S, Bank of Japan, country's Finance, Commonwealth Bank of Australia, New Zealand, greenback, Minneapolis, Minneapolis Fed, National Australia Bank, Bank of, Reserve Bank of Australia Locations: Tokyo, Beijing, Japan, Bank, U.S, Minneapolis

☆ Dollar on guard; BOJ speculation keeps yen supported
▼ + stars: | 2024-03-12 | by ( ) www.cnbc.com time to read: +4 min

Against the dollar, the euro retreated from a roughly two-month high hit last week and last bought $1.0931. The Australian dollar rose 0.01% to $0.6615, while the New Zealand dollar edged 0.02% lower to $0.61685. The dollar index was little changed at 102.80, having hit a roughly two-month low of 102.33 last week. Over in Asia, swirling speculation that the BOJ could move away from its ultra-easy policy settings at its policy meeting next week kept the yen supported. Against the dollar, the yen steadied at 146.94, not far from Friday's one-month top of 146.48.

Persons: bitcoin, Ray Attrill, Jerome Powell, We're, NAB's, there'll, Shunichi Suzuki Organizations: Bank of Japan, Sterling, greenback, Federal Reserve, National Australia Bank, NAB, New Zealand, country's Finance Locations: Asia, Japan

☆ Russia played a card that nearly doubled its energy revenues in February
▼ + stars: | 2024-03-07 | by ( Huileng Tan | ) www.businessinsider.com time to read: +1 min

Russia's February oil and gas revenues jumped by over 80% from a year ago. AdvertisementRussia played a card that nearly doubled its energy revenues ahead of the presidential elections later this month. In February, Russia raked in 945.6 billion rubles, or $10.4 billion, in oil and gas revenues, according to data from the country's Finance Ministry published on Tuesday. That's compared to 521.2 billion rubles in February 2023. This means the energy giant's takings from oil and gas jumped over 80% from a year ago, according to Bloomberg's records.

Persons: —, That's Organizations: Service, country's Finance, Business Locations: Russia, Ukraine

☆ Saudi Arabia goes big in Davos as it looks to become a top AI tech hub for the Middle East
▼ + stars: | 2024-01-19 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +7 min

A pop-up showcasing Saudi Arabia's Neom development features among the most prominent on the Davos promenade in 2024. But Saudi Arabia is keen to capture some of the limelight, and talent, from its neighbor on the Arabian Peninsula — an ambition laid bare on the Davos Promenade this year. "He's driving entrepreneurship, he's diversifying the economy ... And there are a lot of people that are really interested in working in Saudi Arabia," said Bremmer. "In the Emirates and in Saudi Arabia, you have millions of people that need upskilling, particularly Saudi Arabia which has a much larger population," Hidary said. Hidary, who was recently in Saudi Arabia, says that the UAE and Saudi Arabia are looking at countries like Singapore and Israel that have supported start-ups and are driven by technology.

Persons: Mohammed al, Jadaan, Prince Mohammed bin Salman's, Ian Bremmer, he's, Bremmer, Jamal Khashoggi, King Abdullah, KAUST, Harri Jarvelainen, Vera Futorjanski, Futorjanski, Israel Jack Hidary, Hidary, — CNBC's Karen Gilchrist Organizations: Saudi, CNBC, United Arab, prince's, —, Economic, Al, U.S, Eurasia Group, MBS, World Bank, Research Technology Centers, King, King Abdullah University of Science, Technology, UCLA, Riyadh's, Center, AI Research, AI, Artificial Intelligence Authority, Veritas Ventures, Emirates Locations: Davos, CNBC DAVOS, Switzerland, United Arab Emirates, Saudi Arabia, Neom, Saudi, Riyadh, China, Istanbul, UAE, Singapore, Israel, Emirates

☆ South Africa's genocide case against Israel has 'global support,' finance minister says
▼ + stars: | 2024-01-15 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

South Africa's legal case accusing Israel of committing genocide against Palestinians in Gaza has "global support," the country's Finance Minister Enoch Godongwana told CNBC Monday. A two-day hearing last week at the International Court of Justice in the Hague, Netherlands, saw South African lawyers lay out arguments alleging that Israel's bombardment of Gaza that has caused massive casualties was tantamount to genocide. "Supporters of Israel of course, including the U.K., will say our application is nonsense but there is global support for our view that in fact, our case was substantive and we have argued our case." Turkey, Jordan, Brazil, Colombia, Bolivia, Pakistan and Malaysia are among the states that have publicly supported South Africa's application, along with the Organization of Islamic Cooperation. The Saudi-based organization consists of 57 member states, 48 of which are Muslim-majority countries.

Persons: Ronald Lamola, Israel, Enoch Godongwana, Godongwana Organizations: International Court of Justice, country's Finance, CNBC, South, United, Economic, Organization of Islamic Cooperation Locations: Africa's, South Africa, Israel, Gaza, The Hague, Netherlands, Hague, Africa, United Nations, Davos, Turkey, Jordan, Brazil, Colombia, Bolivia, Pakistan, Malaysia, Saudi

COLOMBO, Sri Lanka (AP) — Sri Lanka said Wednesday that it has reached an agreement in principle with a group of creditors including India and Japan on debt restructuring, a crucial move toward unlocking a second instalment of a $2.9 billion bailout package from the International Monetary Fund. Sri Lanka declared bankruptcy in April 2022 with more than $83 billion in debt — more than half of it to foreign creditors. Political Cartoons View All 1270 ImagesSri Lanka needed financial assurances from its bilateral creditors in order to receive the second bailout installment. The ministry said the debt treatment terms will be further detailed and formalized in a memorandum of understanding between Sri Lanka and the creditor committee, which is co-chaired by India, Japan and France and includes 17 countries. ___This version corrects the name of the group in the agreement to the Official Creditor Committee, not Official Credit Committee.

Persons: Gotabaya Rajapaksa Organizations: International Monetary Fund, country's Finance Ministry, IMF, Sri, Sri Lanka’s IMF, Credit Locations: COLOMBO, Sri Lanka, India, Japan, Sri Lanka’s, Sri, Lanka, France

☆ UK's Jeremy Hunt to announce tax cuts aimed at reviving stagnant economy
▼ + stars: | 2023-11-22 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

U.K. Finance Minister Jeremy Hunt will deliver his Autumn Statement budget announcement on Wednesday, facing pressure from within the ruling Conservative Party to implement tax cuts as the country's economy stagnates. Hunt will have more money at his disposal than a year ago and is under pressure from the right of his party to enact tax cuts. He is expected to announce reductions in National Insurance and business tax, while one Treasury minister has suggested that personal taxes could also be coming down. While Hunt has not ruled out tax cuts, he has emphasized the fragile state of the economy and reiterated that reducing living costs is the government's priority. The U.K. Treasury last week announced £4.5 billion ($5.6 billion) in funding for British manufacturing to boost investment in eight sectors across the U.K., available for a five-year period from 2025.

Persons: Jeremy Hunt, Rishi Sunak's, Liz Truss, Hunt, Sunak Organizations: Finance, Conservative Party, Bank of England's, National Insurance, Treasury, Labour Party Locations: U.K

☆ IMF board approves $178 mln loan to Malawi
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

Malawian Finance and Economic Affairs Minister Sosten Gwengwe speaks at the State Department in Washington, DC, U.S., September 28, 2022. Kevin Wolf/Pool via REUTERS/File Photo Acquire Licensing RightsBLANTYRE, Nov 15 (Reuters) - The International Monetary Fund's executive board has approved a loan of about $178 million for Malawi, with an immediate disbursement of about $35 million, the IMF said in a statement on Wednesday. "The decision is a big breather for us and our economy," Finance Minister Simplex Chithyola Banda said in a telephone interview with Reuters. The IMF programme will unlock more financial support from development partners, Malawian President Lazarus Chakwera said in a televised national address late on Wednesday. The World Bank could give Malawi $60 million for trade finance, a $217 million package linked to fiscal reforms and $250 million for agriculture, Chakwera said.

Persons: Sosten Gwengwe, Kevin Wolf, Banda, Lazarus Chakwera, Chakwera, Frank Phiri, Anait Miridzhanian, David Gregorio, Sandra Maler Organizations: Finance, Economic Affairs, State Department, Rights, Monetary Fund's, Malawian, Simplex, Reuters, IMF, Bank, Thomson Locations: Washington , DC, Rights BLANTYRE, Malawi

A child collecting chunks of coal looks on at a colliery while smoke rises from the Duvha coal-based power station owned by state power utility Eskom, in Emalahleni, in Mpumalanga province, South Africa, June 2, 2021. South Africa is facing its worst power crisis, with Eskom's ageing, coal-fired plants often breaking down. "It's a policy development loan which supports critical reforms," Marie-Nelly said of the potential World Bank funding. The World Bank loan would also support South Africa to make a "just transition" away from coal, to ensure vulnerable people do not suffer as a result, Marie-Nelly said. In November 2022, the World Bank approved $497 million in financing to decommission and repurpose one of Eskom's coal-fired power plants.

Persons: Siphiwe, Marie Francoise Marie, Nelly, Marie, Eskom, Rachel Savage, Jorgelina, Kopano Gumbi, Mark Potter, Mike Harrison Organizations: REUTERS, World, Reuters, Bank, South, World Bank, Thomson Locations: Emalahleni, Mpumalanga province, South Africa, MARRAKECH, Morocco, Marrakech, Africa, Rosario

☆ An oligarch who predicted that Russia may run out of money next year is surprised the economy has held up so far
▼ + stars: | 2023-09-26 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Oligarch Oleg Deripaska told the FT he was surprised at Russia's economic resilience. Deripaska, who is worth $2.3 billion, said demand from the global south is supporting Russia's economy. It's an about-turn for Deripaska, who, in March, said sanctions-hit Russia may run out of money next year. Anton Siluanov, the country's finance minister, told the CGTV channel last month he expects the Russian economy to grow by at least 2.5% this year. "Out of the next billion people who're about to be born, 70% will be in this region," Deripaska told the FT. "Let's face reality.

Persons: Oligarch Oleg Deripaska, Deripaska, —, oligarch Oleg Deripaska, It's, Anton Siluanov, it's Organizations: Service, Financial, New York Times, International Monetary Fund, US, European Union, Russia Locations: Russia, Ukraine

☆ EU considering whether to attend Britain's AI summit, spokesperson says
▼ + stars: | 2023-09-22 | by ( Martin Coulter | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON, Sept 22 (Reuters) - The European Union is considering whether to send officials to Britain's upcoming artificial intelligence safety summit, a spokesperson told Reuters, as the bloc nears completion of wide-ranging AI legislation that is the first of its kind globally. European Commission Vice President Vera Jourova has received a formal invitation to the summit, the spokesperson said, adding: "We are now reflecting on potential EU participation." However, the Financial Times reported that British government officials favour a less "draconian" approach to AI regulation than the EU. Last month, Clifford told Reuters he hoped the summit would set the tone for future international debates on AI regulation. While a number of world leaders, including U.S. Vice President Kamala Harris, are expected to attend the summit, it largely remains unknown who else has been invited -- or who has accepted an invitation.

Persons: Dado Ruvic, Rishi Sunak, Vera Jourova, Sunak, Matt Clifford, Jonathan Black, Clifford, Kamala Harris, Jeremy Hunt, Martin Coulter, Hugh Lawson Organizations: REUTERS, European, British, Financial Times, EU, Tech, Reuters, U.S, Politico, Thomson Locations: European Union, Britain, China

☆ Around 22 countries exploring bilateral trade with India in rupee - finance minister
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: 1 min

Sept 15 (Reuters) - Around 22 countries were negotiating and exploring bilateral trade with India in rupees, Nirmala Sitharaman, the South Asian country's finance minister said on Friday. "About 22 countries are negotiating and approaching us to see if bilateral trade can be held (in rupees). It is also because many of... those countries are running short of dollar," Sitharaman told news channel NDTV during an interview. Reporting by Nikunj Ohri and Shivangi Acharya, writing by Shilpa Jamkhandikar; editing by Sudipto GangulyOur Standards: The Thomson Reuters Trust Principles.

Persons: Nirmala Sitharaman, Sitharaman, Nikunj Ohri, Shivangi Acharya, Shilpa Jamkhandikar, Sudipto Ganguly Organizations: NDTV, Thomson Locations: India

☆ A timeline of 5 major hurdles Russia's imposed on Western firms trying to exit the country
▼ + stars: | 2023-09-08 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

The Russian foreign ministry did not immediately respond to a request for comment from Insider sent outside regular business hours. Some companies trying to exit Russia recently are facing demands of even steeper discounts, Reuters reported on August 25, citing three persons familiar with exit processes for foreign companies. Both firms had been trying to exit Russia for months before the seizures, before the sudden takeover. In July, Moscow targeted the Russian assets of food and beverage giants Danone and Carlsberg for seizures. A month later, in September, Russia demanded foreign banks unfreeze Russian assets if they wanted to exit the market.

Persons: Linklaters, —, Vladimir Putin's, Germany's, Fortum —, Putin, Dmitry Peskov, Alexei Moiseev Organizations: Service, Yale University, Russia, Russian, Novaya Gazeta, Companies, Kremlin, Investors, Danone, Carlsberg, Financial Times, UBS, Credit Suisse —, Zenit Bank, Reuters, Raiffeisen Locations: Russia, Wall, Silicon, Ukraine, London, Russian, Moscow

Ecuadorean presidential candidate Fernando Villavicencio waves an Ecuadorian flag as he attends a rally in Quito, Ecuador August 9, 2023. REUTERS/Karen Toro/File PhotoAug 10 (Reuters) - Fernando Villavicencio, the Ecuadorean presidential candidate gunned down in Quito on Wednesday, was no stranger to threats and intimidation from powerful figures in Ecuador. Villavicencio also denounced high-ranking executives in Ecuador's oil, mining and power industries – and even big foreign companies including Chinese oil behemoths, Brazilian engineering firms and global oil trading firms. The murder is the first of a presidential candidate in Ecuador's history. A year later, in 2014, Villavicencio went on the run to avoid imprisonment for alleged defamation of then-President Correa.

Persons: Fernando Villavicencio, Karen Toro, Long, –, Rafael Correa, Correa, Villavicencio, I'm, Villavicencio's, Guillermo Lasso ., Steven Grattan, Joshua Schneyer, Brad Haynes, Rosalba O'Brien Organizations: REUTERS, Mexico's, Mexico's Sinaloa Cartel, Prensa, The Workers Press, National Assembly, Lasso, Thomson Locations: Quito, Ecuador, Belgium, Mexico's Sinaloa, Peru, China, London, New York

☆ Colombia proposes 502.6 trillion pesos 2024 budget
▼ + stars: | 2023-07-29 | by ( ) www.reuters.com time to read: +1 min

BOGOTA, July 29 (Reuters) - Colombia's government on Saturday presented a budget proposal worth 502.6 trillion pesos ($127.8 billion) for 2024 to Congress, 19% greater than this year, the Finance Ministry said, an amount that would be the country's highest if approved. The proposal includes spending 94.52 trillion pesos for servicing debt, and 97.75 trillion pesos for investment. "The 2024 budget is realistic," the finance ministry said in a statement. Government ministers worked through Thursday night to finish the proposal, President Gustavo Petro said on Friday in a post on social media platform X, formerly known as Twitter. The proposed budget earmarks 70.5 trillion pesos for education, health, drinking water and other general purposes, and some 57.4 trillion pesos would fund the state pension system.

Persons: Gustavo Petro, Colombia's, Nelson Bocanegra, Julia Cobb Symmes, Oliver Griffin, Sandra Maler Organizations: Finance Ministry, Twitter, Congress, Thomson Locations: BOGOTA

☆ UK lawmakers launch inquiry into sexism in finance
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +1 min

LONDON, July 14 (Reuters) - British lawmakers have launched a fresh inquiry into sexism in the country's finance industry, parliament's influential Treasury committee said in a statement on Friday. The inquiry will assess issues including progress made in removing gender pay gaps, how best to support diversity and combating sexual harassment and misogyny, the committee said. The move comes amid renewed scrutiny of sexual misconduct in finance, after hedge fund founder Crispin Odey was ousted from his firm in June after allegations of sexual misconduct jointly reported by the Financial Times and Tortoise Media. The average gender pay gap across 20 of the biggest finance employers was 30.1% in favour of men in 2022, a Reuters analysis in April showed, compared to the UK average of 8.3%. This is a subject of marked importance to our Committee and we look forward to beginning work on this important topic," said Harriett Baldwin, chair of the Treasury committee.

Persons: Crispin Odey, Odey, Harriett Baldwin, Iain Withers, Josie Kao Organizations: Financial Times, Tortoise Media, Treasury, Thomson

☆ Singapore names Deputy Prime Minister Lawrence Wong as chairman of the central bank
▼ + stars: | 2023-07-03 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

The Monetary Authority of Singapore, the city-state's financial regulator and central bank, has named Deputy Prime Minister Lawrence Wong as chairman of its board of directors effective July 8. Wong, who is the country's finance minister, will replace Tharman Shanmugaratnam, who held the role for 12 years since May 2011, the release said. Wong, who was deputy chairman of MAS since June 2021, will serve as chairman until May 31, 2026, according to the press release. He previously served as a member of the MAS Board from June 2011 to August 2016. Singapore's Minister for Trade and Industry Gan Kim Yong will be appointed deputy chairman of the MAS Board for the same period, from July 8 to May 31, 2026.

Persons: Lawrence Wong, Wong, Tharman Shanmugaratnam, Shanmugaratnam, Industry Gan Kim Yong Organizations: Monetary Authority of, MAS, Singapore's, Trade, Industry, MAS Board, CNBC Locations: Monetary Authority of Singapore, Singapore

☆ Russian companies doubled their revenues to $15 trillion last year because the energy market did so well — but that doesn't mean they're reaping massive profits
▼ + stars: | 2023-06-21 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

But it's not all good news for Russian companies: Due to sanctions, their profits grew just 6% on-year. That's nearly double the 655 trillion rubles Russian companies made in 2021, per the tax service department's statistics. In particular, Russian energy giant Gazprom posted record profits in the first half of 2022, prompting Moscow to impose windfall taxes on the company. Russia's energy revenues have also been hit heavily by restrictions against its exports, particularly after the European Union — a major customer of Russian energy — banned Russian crude oil starting December 5. In the first quarter of 2023, Russia posted a deficit of almost 2.4 trillion rubles — sharply reversing a surplus of more than 1 trillion rubles in the first quarter of 2022.

Persons: That's, it's, —, Andrei Belousov Organizations: Service, RBC, Gazprom, European Union, RBC TV Locations: Ukraine, Russia, Moscow

☆ Afghanistan's Taliban needs money so badly they are selling tickets to monuments their own fighters smashed to pieces: report
▼ + stars: | 2023-06-16 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

Afghanistan is selling tickets to the ruins of recently-destroyed monuments, the Washington Post reported. Tickets to see the cavernous remains of the Bamiyan Buddhas, in the Hazarajat region, are sold to locals for 57 cents and $3.45 to foreigners, the paper reported. L: One of the Bamiyan Buddhas in 1997. But some Afghan officials believe that sites like Bamiyan still have potential to bring in significant tourist money, despite the loss of the Buddhas. Mohammedi is planning a souvenir market nearby, The Washington Post reported.

Persons: —, Sayed Salahuddin, Bamiyan, Saifurrahman Mohammadi, we've Organizations: Washington Post, Service, Slate, American, Taliban, Sayed Salahuddin AS, Reuters, CNN, UN, Financial Times, The Washington Post Locations: Afghanistan, Hazarajat, Pakistan, Saudi Arabia, The

☆ Russia has lost so much money due to the Ukraine war that it's now trying to raise $4 billion by slapping a windfall tax on its oligarchs
▼ + stars: | 2023-06-14 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Russia will slap windfall taxes on large companies making over 1 billion rubles in profits since 2021. Russia approved a draft bill to slap up to a 10% one-off windfall tax on large Russian companies, according to a Tuesday announcement by the country's finance ministry. "They understand that they had huge windfall profits for 2021 and 2022, simply massive, bigger than the budget," Belousov said, per Interfax. This instance isn't the first time Russia's imposing windfall taxes to fund the war in Ukraine. Russia's energy revenues have also been majorly hit by sweeping restrictions against its exports, particularly after the European Union — a major customer of Russian energy — banned Russian crude oil starting December 5.

Persons: —, It's, Andrei Belousov, Belousov, Timur Nigmatullin Organizations: RBC TV, Service, RBC, Financial Times, Gazprom, European Union Locations: Russia, Ukraine

ISLAMABAD, June 10 (Reuters) - Pakistan is working on the possibility of restructuring its bilateral debt regardless of whether it successfully completes its IMF review, the country's finance minister said on Saturday, but reiterated it would not approach Paris club nation creditors or seek haircuts. The country is grappling with record inflation, fiscal imbalances and critical levels of reserves that cover barely a month worth of imports. The fiscal deficit for the following fiscal year was projected at 6.54% of GDP, according to the budget. Dar said on Saturday there was no more room in the budget to reduce the fiscal deficit target by any further. The government has received commitments of only $4 billion, mainly from Saudi Arabia and the United Arab Emirates.

Persons: Ishaq Dar, Dar, Gibran Naiyyar Peshimam, Shahid, Charlotte Greenfield, Michael Perry, William Mallard, Frances Kerry Organizations: IMF, Pakistan's IMF, United, United Arab Emirates, Thomson Locations: ISLAMABAD, Pakistan, Paris, Pakistan's, China, Saudi Arabia, United Arab

☆ Dollar sags versus yen after Japan warning; Aussie slides on China data
▼ + stars: | 2023-05-31 | by ( ) www.cnbc.com time to read: +2 min

Japanese 10,000 yen and U.S. 100 dollar banknotes are arranged for a photograph in Tokyo, Japan, on Sept. 7, 2017. The dollar languished below the psychological 140 yen level on Wednesday after getting knocked back from a six-month high after Japanese officials met on Tuesday to discuss their currency. The Aussie was last down 0.15% at $0.6507, heading back toward last week's 6 1/2-month low of $0.6490. The New Zealand dollar sank as much as 0.5% to a 6 1/2-month trough at $0.60125. Against the Chinese yuan, the U.S. dollar climbed as much as 0.38% to 7.1171 for the first time since Nov. 30.

Persons: Rodrigo Catril, Bart Wakabayashi, Sterling Organizations: Australian, National Australia Bank, Reserve Bank of Australia, New Zealand, U.S, State Locations: Tokyo, Japan, China, United States, Tuesday's

[1/2] Japanese Yen and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/IllustrationLONDON/SINGAPORE, May 30 (Reuters) - The yen strengthened on Tuesday on news of a meeting of Japan's finance ministry and central bank, while elsewhere the dollar rose to a two-month high against a basket of its peers after the U.S. debt ceiling deal. The dollar was last down 0.18% against the Japanese yen at 140.18 after the country's finance ministry said senior officials from the Ministry of Finance, Bank of Japan and Financial Services Agency will meet from 5:30 p.m. (0830 GMT). Japanese central bank policy has been a major focus for investors in the past year after the BOJ last year intervened to strengthen the yen. Kenneth Broux, head of corporate research for FX and rates at Societe Generale, said FX intervention at current levels was unlikely.

☆ IMF official says Sri Lanka reforms critical, evaluating progress
▼ + stars: | 2023-05-15 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +2 min

COLOMBO, May 15 (Reuters) - The International Monetary Fund (IMF) mission in Sri Lanka will evaluate progress made on reforms so far and complete an exercise to improve governance in key areas of the economy, an IMF official said on Monday. An IMF team is in Colombo until May 23 as part of regular consultations ahead of the first review mission later this year. "It is now essential to continue the reform momentum," said Krishna Srinivasan, Director of Asia Pacific Department at IMF. Sri Lanka, with the help of a $2.9 billion bailout from the global lender, is trying to recover from its worst financial crisis since gaining independence in 1948 and turn around its battered economy. Peter Breuer, IMF Senior Mission Chief for Sri Lanka, Asia and Pacific Department said the lender will be looking at whether the government's macro framework is still appropriate or whether it requires revisions.

Ahead of an election on May 21, a cost-of-living crisis that is eroding earnings is foremost in voters' minds. For Klaoudatou it means voting for anyone but the incumbent conservative New Democracy or the opposition leftist Syriza. Reuters GraphicsThree international bailouts saved Greece from toppling out of the euro zone during a decade-long debt crisis that peaked in 2015. "Εven during the crisis - and this is the joke - I didn't think so much before spending a single extra euro," Klaoudatou told Reuters. Reuters GraphicsPAYCHECK BARELY GETS TO PAYCHECKOne in two Greek households could barely get by on their monthly income last year.

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