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2016-06-13 20:10:00

IMF SELLS MONEY AGAIN

IMF SELLS MONEY AGAIN

REUTERS said, the International Monetary Fund said on Monday that Canada is coping well with lower oil prices and weaker growth, but needs to pursue a fiscal and monetary policy mix that supports near-term output.

In a statement following its annual policy review with Canada, the IMF cautioned the full macroeconomic and financial effects of the oil shock have yet to fully play out in Canada, which saw real gross domestic product growth halve to 1.2 percent in 2015.

The Fund said its board of directors welcomed Canada's "pro-growth" budget and noted that additional fiscal support should be considered if conditions worsen.

"Growth is expected to rebound in 2016, supported by exchange rate depreciation and accommodative monetary and fiscal policies, but uncertainty about oil prices, challenges in sustaining the global recovery, and elevated domestic vulnerabilities suggest risks to the outlook are tilted to the downside," the IMF said.

It said that a Canada's push for more growth could be focused on infrastructure improvement, but noted that vulnerabilities should be contained in the housing market, where prices are rapidly rising in Vancouver and Toronto, but falling in Alberta.

Canada in the longer run should aim to reduce its debt-to-GDP ratio and pursue structural economic reforms to diversify its future growth drivers.

"Directors noted that Canada's financial sector continues to be sound and stable. They agreed that macroprudential measures have been broadly effective in containing the growth of mortgage credit and suggested that these could be further tightened if imbalances in the housing market threaten to intensify," the IMF said.

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Earlier: 

IMF: LOW PRICE LIFE 

IMF SELLS MONEY 

IMF BUYS GREECE 

UKRAINE MEET IMF

 

 

 

Tags: IMF, CANADA, OIL, PRICE

Chronicle:

IMF SELLS MONEY AGAIN
2018, July, 16, 10:35:00

CHINA'S INVESTMENT FOR NIGERIA: $14+3 BLN

AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.

IMF SELLS MONEY AGAIN
2018, July, 16, 10:30:00

LIBYA'S OIL DOWN 160 TBD

REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.

IMF SELLS MONEY AGAIN
2018, July, 16, 10:25:00

BAHRAIN'S GDP UP 3.2%

IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.

IMF SELLS MONEY AGAIN
2018, July, 16, 10:20:00

NIGERIA'S GDP UP 2%

IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.

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