Morocco’s financing requirements may rise in 2014 while its debt-to-GDP ratio is already approaching the “danger zone” after a surge in borrowings since 2011, the chief of the country’s planning agency said in an interview yesterday.
As the debt crisis tore down Cyprus’s financial industry, some euro partners accused its banks of running a casino for Russians. Now the island is banking on Russians in casinos to help rebuild the economy.
President Vladimir Putin is battling investor skepticism to woo foreign executives descending on his hometown today as Russia’s economy faces a risk of recession and a crackdown on critics scares off top intellectuals.
The Micex Index fell for the first time in four days on investor concern the Federal Reserve may signal a faster-than-expected tapering of U.S. financial stimulus, while Russia’s central bank chairman warned of “abnormally high” capital outflows.
Ireland’s government should stick to planned budget cuts as the nation heads for the bailout exit door, the International Monetary Fund said, warning of growing weariness with austerity across the economy.
Serbia will reduce administrative costs and sell money-losing companies, leaving thousands without work, to avoid cuts in public wages and pensions as it works to trim the budget gap and prevent a public debt crisis.