The World Bank has agreed with President Vladimir Putin’s comment that Russia has successfully managed to overcome the worst of its current economic difficulties due to the government’s fiscal and monetary policy.
Hundreds of political activists will gather in London on Saturday to protest a controversial EU-US trade agreement campaigners warn will enhance corporate power, and promote the privatization of vital public services.
Western sanctions have not succeeded in crippling the Russian economy, as careful monetary and fiscal adjustments helped stabilize and strengthen the national currency despite low oil prices, finance minister Anton Siluanov told RT.
Greece is determined to stay in the eurozone, but signing an existing deal with its creditors won’t help to solve problems, said the country’s finance minister. Athens owes the IMF some €1bn by next month, and skipping a payment would be unprecedented.
The dramatic 50 percent decline in oil prices which started last summer had a relatively small impact on the global economy with 0.7 percent GDP growth worldwide, the IMF estimates. However, cheap oil has affected major economies differently.
A committee of Ukraine’s private creditors that hold about $10 billion in Ukrainian bonds is against any write-downs in its debt-restructuring deal. The bondholders’ terms jeopardize Ukraine’s bailout package from the IMF.
Some Europeans have forgotten Greece is an independent state, which may seek good relations with other countries, said George Katrougalos, Greece's Minister for Administrative Reforms, commenting on criticism within the EU of PM Tsipras’ visit to Moscow.