Angel Gurria News
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The Bank of Korea held off from altering borrowing costs for an 11th straight month after inflation eased and policy makers cut their forecasts for economic growth.
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South Korea’s current-account surplus widened in March to a four-month high as overseas shipments of cars, electronics and oil products rose while the European debt crisis weighed on global demand.
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Angel Gurria, secretary general of the Organization for Economic Cooperation and Development, said the European Central Bank should accept losses on its portfolio of Greek bonds to help the euro-area nation.
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Greece will overcome its fiscal problems and find that “there’s life after debt,” said Angel Gurria, secretary general of the Paris-based Organization for Economic Cooperation and Development.
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OECD Secretary General Jose Angel Gurria said he thinks it would be a “good idea” for investors to extend the maturities of Greece’s debt to allow the country more time to implement fiscal restraint.
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The European Central Bank should cut its benchmark interest rate today and authorities should introduce new bank stress tests that fully take into account a sovereign default, said Angel Gurria, secretary general of the Organization for Economic Cooperation and Development.
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Leaders of the Group of 20 countries must agree on non-fiscal measures to boost their economies at their next meeting because they are running out of government money to fuel the global recovery, Angel Gurria said today.
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OECD Secretary General Jose Angel Gurria said boosting food stockpiles in emerging and developing nations will require increased government and private spending.
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The largest developed nations must improve education and fiscal reforms to prevent the economic malaise that followed the financial crisis from extending for a decade, said Angel Gurria , secretary-general of the Organization for Economic Cooperation and Development.
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Angel Gurria , secretary-general of the Organization for Economic Cooperation and Development, comments on the euro area’s effort to bolster the 750 billion- euro ($1 trillion) backstop set up last May to stem the debt crisis. He spoke in an interview today in Brussels.
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