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Germany to pass extra budget for more climate funds on Monday – sources

9 Dec 2021

By Michael Nienaber BERLIN (Reuters) -Germany’s new coalition government will pass a supplementary budget on Monday to enable more public investments in the shift towards a greener and more digitalized economy, sources told Reuters on Thursday. The coalition parties agreed to channel more than 60 billion euros ($67.73 billion) of unused debt in this year’s …

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CAF to use $7 billion capitalization for recovery, renewables in Latin America

9 Dec 2021

By Luis Jaime Acosta BOGOTA (Reuters) – CAF, the Development Bank of Latin America, will use $7 billion in planned equity capitalization to back economic recovery and renewable energy development in the region, its president said on Thursday. The board of CAF, which has 19 member countries across Latin America, the Caribbean and Europe and …

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Germany must build fiscal reserves for next crisis – Scholz

9 Dec 2021

By Christian Kraemer and Michael Nienaber BERLIN (Reuters) -The coronavirus pandemic is the first big challenge for Germany’s new government and Berlin must create fiscal reserves to be prepared for the next crisis, Chancellor Olaf Scholz from the centre-left Social Democrats said on Thursday. Scholz’s three-way ruling coalition with the pro-spending Greens and fiscally more …

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Ukraine raises rate to 9% as inflation and Russia conflict risks weigh

9 Dec 2021

By Natalia Zinets KYIV (Reuters) – Ukraine’s central bank raised its main interest rate to 9% from 8.5% on Thursday and stood ready to tighten monetary policy again as it warned about the risk of a military conflict with Russia and higher global food and gas prices. The National Bank of Ukraine (NBU) began tightening …

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Swiss lower 2022 growth forecast as bottlenecks and virus restrictions weigh

9 Dec 2021

ZURICH (Reuters) – Switzerland’s economy will grow by 3.3% this year and 3.0% in 2022, the government forecast on Thursday, adjusting its previous predictions as the coronavirus situation worsens and restrictions tighten across Europe. The government, which had previously forecast the economy to grow by 3.2% this year and 3.4% in 2022, said the economic …

Swiss lower 2022 growth forecast as bottlenecks and virus restrictions weigh Read More »

Japan’s ruling bloc endorses draft reform focusing on tax breaks for wage hikes

9 Dec 2021

By Tetsushi Kajimoto and Kaori Kaneko TOKYO (Reuters) -Japan’s ruling party approved a draft tax plan on Thursday that rewards businesses that raise wages but shied away from ambitious reforms around climate change or capital gains, two key policy issues for Prime Minister Fumio Kishida. The government will “comprehensively consider” capital gains tax reforms and …

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Brazil central bank makes 150 bps interest rate hike, signals another

8 Dec 2021

By Marcela Ayres and Bernardo Caram BRASILIA (Reuters) – Brazil’s central bank on Wednesday raised interest rates by 150 basis points and signaled another such hike in February, waging one of the world’s most aggressive battles with inflation even as Latin America’s largest economy has tipped into recession. The bank’s rate-setting committee, known as Copom, …

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New Zealand manufacturing sales fall in third quarter

8 Dec 2021

WELLINGTON, Dec 9 (Reuters) – New Zealand manufacturing sales volumes fell 6.4 percent in the third quarter, data from Statistics New Zealand showed on Thursday. Volumes for dairy and meat products, the country’s biggest export earners, fell 1.1 percent. (wellington.newsroom@thomsonreuters.com; +6448027979)

Congo an economic ‘bright spot’ in Africa, says IMF chief

8 Dec 2021

KINSHASA (Reuters) – Democratic Republic of Congo is a rare “bright spot” in Africa’s economic performance as high commodity prices and government reform improve finances, the head of the International Monetary Fund said on Wednesday. Congo’s economy is expected to grow 5.4% this year and 6.4% in 2022, Kristalina Georgieva told a news conference in …

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Sudan cut off from $650 million of international funding after coup

8 Dec 2021

By Aidan Lewis, Khalid Abdelaziz and Nafisa Eltahir KHARTOUM (Reuters) – Sudan was unable to access $650 million in international funding in November when assistance was paused after a coup, the finance minister of the dissolved government said – a freeze that puts in doubt basic import payments and the fate of economic reforms. The …

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