Thursday September 21, 2006

Global growth may be peaking : IMF

peakoil.com -> ft.com :

Global economic growth is at risk of peaking because of high oil prices and rising protectionist sentiment, warned Rodrigo de Rato, the International Monetary Fund's managing director. "The global growth cycle may be close to its peak," Mr de Rato said in his opening statement at the joint IMF and World Bank plenary session in Singapore. "The best hope for continued high growth lies in further increases to international trade. If this does not happen, the outlook is less encouraging."

Mr de Rato's statement came as the IMF approved a proposal to provide additional voting power immediately to China, South Korea, Mexico and Turkey and start a fundamental reform of the world body. The reform was approved with 90.6% of votes from member countries. The reform aims to balance IMF voting power in accordance with each country's economic weight in the world and launches a review of the underlying formula for calculating votes with a view to a more extensive overhaul within two years.

(2006-09-21 08:14:30 SGT) [Biz] Permalink

Most popular blog postings on lowem.log :

1. Singapore MRT rail network length to double by 2020
2. 2010 Nissan Leaf electric car specifications : 107hp, 24KWh lithium-ion batteries, 100-mile range
3. Live spot gold price quotes chart on COMEX
4. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
5. AVG Anti-Virus Free Edition 2011 direct download link
6. Real-time live gold and silver price quotes chart on COMEX
7. Singapore electric vehicles : Government agencies EMA and LTA to study EV introduction
8. Book review : Shut Down by William Flynn

Featured articles on lowem.log :

1. Book review : Shut Down by William Flynn
2. Singapore electric cars testing starts with 9 electric vehicles
3. Honda, GS Yuasa JV to make lithium-ion batteries for 2010/2011 Honda Civic Hybrid
4. 2010 Honda Civic Hybrid preliminary specifications released
5. 2010 Honda CR-Z hybrid, 2010 Honda Fit/Jazz hybrid models confirmed
6. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
7. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
8. Singapore : Nuclear power not ruled out