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Argentina in talks with IMF to ease reserves targets amid drought

By Jorgelina do Rosario and Jorge Otaola LONDON/BUENOS AIRES (Reuters) – Argentina’s government is in final talks with International Monetary Fund officials to ease foreign exchange reserves targets for 2023 under the country’s $44 billion program, two sources close to the matter told Reuters. The move comes as the South American commodities exporter is facing …

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Yellen says she will talk deficit-reduction with Republicans, not debt limit

By David Lawder BENGALURU (Reuters) – U.S. Treasury Secretary Janet Yellen said on Saturday she was willing to negotiate with Republicans in Congress over the Biden administration’s budget proposal to be unveiled next month – but not as a condition of raising the debt ceiling. Yellen told Reuters in an interview that the Biden budget …

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Analysis-Incoming World Bank chief faces tests before he gets to climate

By Valerie Volcovici and Andrea Shalal WASHINGTON (Reuters) – Ajay Banga, U.S. President Joe Biden’s pick to run the World Bank, will face a tough slate of issues around the institution’s finances and capital structure from the get-go, thorny problems he must address as he reshapes the bank into a force for combating climate change …

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Yellen says ‘absolutely necessary’ for G20 to condemn war in Ukraine

By David Lawder BENGALURU (Reuters) – U.S. Treasury Secretary Janet Yellen told Reuters that a strong statement condemning Russia’s war in Ukraine was “absolutely necessary” for a communique from the G20 finance leaders’ meeting in India concluding on Saturday. Yellen said in an interview that leaving a war condemnation out of the communique would be …

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Yellen says U.S. inflation fight ‘not a straight line’ after price rise data

By David Lawder BENGALURU (Reuters) – U.S. Treasury Secretary Janet Yellen told Reuters on Saturday that new U.S. data showing inflation jumped unexpectedly in January signals that the fight against inflation “is not a straight line” and more work is needed. In an interview with Reuters at a G20 finance leaders meeting in India, Yellen …

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World Bank promises ‘concessionality’ in debt restructuring

BENGALURU (Reuters) -The World Bank will “provide as much concessionality to the debt treatment” for distressed economies as possible, its president told a meeting with the International Monetary Fund, India, China, and other creditor nations on Saturday. The remarks come amid calls by China, the world’s largest bilateral creditor, that global lenders should take haircuts …

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Thai economy to grow 3.8% this year, inflation to ebb – minister

By Orathai Sriring and Satawasin Staporncharnchai BANGKOK (Reuters) – Thailand’s economy is expected to grow 3.8% this year, helped by a rebound in the vital tourism sector, while inflation should cool to its target range, the finance minister said on Saturday. Domestic spending has increased and the government will accelerate large project investment to help …

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Peru president announces return of ambassador from Mexico

LIMA (Reuters) – Peru’s President Dina Boluarte announced on Friday the return of the country’s ambassador in Mexico in response to comments from her Mexican counterpart branding her government as unconstitutional. Boluarte said the remarks made earlier on Friday by Mexican President Andres Manuel Lopez Obrador about her administration go against the international right to …

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U.S. targets Russia with sanctions, Moscow says measures won’t work

By Steve Holland, Jonathan Landay and Andrea Shalal WASHINGTON (Reuters) -The United States marked the first anniversary of Russia’s invasion of Ukraine on Friday with $2 billion in weaponry for Kyiv and new sanctions against Russia aimed at undermining Moscow’s ability to wage war. U.S. President Joe Biden’s administration unveiled the sanctions as the Group …

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