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Tag Archives: International Monetary Fund

Oil producer Azerbaijan in talks for international aid

Oil producer Azerbaijan in talks for international aid

BAKU, Azerbaijan — Representatives from the International Monetary Fund and World Bank arrived in Azerbaijan on Thursday to discuss financial support for the oil producing country’s ailing economy. The ex-Soviet nation in the Caucasus has been hit hard by the sharp drop in prices of its oil and gas exports over the last year. “The World Bank and the IMF ...

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Saudis looking at raising domestic energy prices – oil minister

RIYADH – Saudi Arabia is looking at raising domestic energy prices, Oil Minister Ali al-Naimi said on Tuesday, confirming that the kingdom could cut a lavish system of subsidies blamed for waste and surging fuel consumption. Asked on the sidelines of a mining conference whether he expected domestic energy prices to increase in the near term, Naimi told reporters: “What ...

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Oil slips as Saudis stand by to raise production

LONDON – Oil prices on Friday gave up gains made earlier this week after the world’s top crude exporter Saudi Arabia said it stood ready to raise output to new record highs, potentially adding to a global supply glut. A stronger U.S. currency against the euro also weighed on the dollar-denominated oil market after the International Monetary Fund pulled out ...

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Russia says Ukraine debt repayment law amounts to default

MOSCOW – Russia on Wednesday demanded the timely repayment of all debts owed to it by Ukraine and accused Kiev of effectively preparing the way for default with a new law. It threatened to take the issue to international courts if necessary. The law, approved by Ukraine’s parliament on Tuesday, gives the government the right to miss payments to its ...

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