With economy weak low rates needed until at least late 2013 IMF

AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email by The Canadian Press Posted Dec 19, 2012 9:59 am MDT OTTAWA – The International Monetary Fund is telling the Bank of Canada to hold off on monetary tightening until the economy performs better.The IMF says in a new report on Canada that the economy slowed in 2012 and will underperform again in 2013 with sub-two-per-cent growth.The Washington-based international financial institution says the best case scenario suggests growth should perk up in late 2013, at which time higher interest rates might be warranted.But it cautions that as modest as its appraisal is of Canadian economic prospects, all the risks are still tilted toward a worse — not better — result.It says if the worst does happen, there is still some space for monetary easing to occur — that is for the Bank of Canada to lower interest rates even further.Similarly, while the IMF says Canadian governments are taking the correct actions in seeking to rein in deficits, they should also be prepared to reverse course to new spending stimulus if an adverse shock were to occur.Barring any unforeseen circumstances, the IMF says Canada’s economy should advance by just under two per cent in 2013 and at about 2.25 per cent in 2014. With economy weak, low rates needed until at least late 2013, IMF tells Canada read more

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St Kitts Opposition files no confidence motion against Government

Prime Minister Dr Timothy Harris (Caribbean News Now image) BASSETERRE, St Kitts (CMC) — Opposition Leader Dr Denzil Douglas has filed a motion of no confidence against Prime Minister Dr Timothy Harris, whom he says presents a “clear and present danger to democracy” in St Kitts-Nevis.In the motion, which was sent to the Clerk of the National Assembly, Sonia Boddie-Thompson on Tuesday, Douglas, a former prime minister, also alleges that the activities of the incumbent “have belittled and denigrated the esteemed Office of the Prime Minister and has tarnished the good name and standing of this country both regionally and internationally”.Douglas is calling on legislators to support the motion and ensure the “immediate resignation” of Harris, who led his coalition Team Unity grouping into office in the February 16, 2015 general election.In the motion, Douglas claims that since being sworn into office, Harris has governed the twin island Federation “in a manner that has seen a rapid erosion of the democratic and good governance standards that are enshrined in the Constitution” and that the “rights, liberties and democratic interests of citizens are being trampled upon using methods that are reminiscent of a full blown dictatorship”.He also alleges that Prime Minister Harris “has consistently failed to uphold the principles of accountability, fairness, openness, transparency, inclusivity or respect the rule of law which has led to the maladministration of public services and the mismanagement of the economic and fiscal affairs of St Kitts and Nevis”.Douglas, the leader of the main opposition St Kitts-Nevis Labour Party (SKNLP), said that Prime Minister Harris “constantly tries to influence the work of the Electoral Office and its ranking officers in contravention of the electoral laws of the Federation and which has led to the disenfranchisement of numerous voters without due process”.Douglas has listed several other allegations in the motion calling for the removal of the prime minister, including his refusal “ consent to the publication of the IMF (International Monetary Fund) country surveillance report, thereby denying the citizens of the country their right to information contained therein”.Prime Minister Harris is due to present the national budget to Parliament later today. Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)RelatedLeader of Opposition met Chairman of CARICOM and teamJanuary 25, 2019In “latest news”St Kitts-Nevis PM claims parliamentary majorityJune 26, 2013In “Regional”Region turned its back on St Kitts unlike Guyana over no confidence impasse – says opposition leaderDecember 2, 2014In “Regional” read more

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