Page 83 - Eco News Today

The World Bank said on Tuesday it approved a $1 billion loan to Kenya to support its budget as East Africa's economic powerhouse confronts high debts and a weakening currency.

European Union governments decided on Tuesday to nearly double the amount of EU financial support to Moldova to a total of 295 million euros ($324.74 million), the Swedish presidency of the EU said.

Rising U.S. labor costs are doing little to drive up inflation, researchers from the Federal Reserve Bank of San Francisco said on Tuesday, a finding that may undercut the argument that wage gains are key to elevated price pressures.

Kosovo marked the 15th anniversary of its declaration of independence from Serbia in February this year.

An International Monetary Fund mission has completed its first review of a $15.6 billion loan programme for Ukraine and the country has met the required conditions, paving the way for a payout of around $900 million, the IMF said on Tuesday.

U.S. consumer confidence slipped to a six-month low in May as Americans' assessment of the labor market softened, but more households planned to purchase motor vehicles and other big-ticket items over the next six months, which could support economic growth this quarter.

The risk of government interference in Latin America's electricity sector has increased due to rising fuel prices stoking inflation, particularly in Argentina, Colombia and Mexico, ratings agency Moody's said on Tuesday.

Bola Tinubu will be sworn in as Nigeria's president on Monday under the cloud of a disputed election and pressure to quickly improve economic and security conditions, which many complain worsened under his predecessor Muhammadu Buhari.

A return to the White House by Donald Trump would create challenges for the world’s other rich democracies. After all, the former President likes Russia's Vladimir Putin, is sceptical about climate change and favours “Make America Great Again” protectionism. The best insurance policy for remaining members of the Group of Seven wealthy nations is to ramp up support for Ukraine, promote free trade and speed up action on global warming.

The South African rand was broadly flat in early trade on Monday, but market players were on edge after the currency struck a record low last week.