Xinhua world economic news summary at 1030 GMT, Feb. 25
WASHINGTON -- International Monetary Fund Managing Director Kristalina Georgieva on Wednesday urged governments to take strong policy actions to prevent the dangerous divergence between and within countries when climbing out of the COVID-19 pandemic.
"Most of the world is facing a slow rollout of vaccines even as new virus mutations are spreading -- and the prospects for recovery are diverging dangerously across countries and regions," Georgieva said in a blog, as Group of 20 finance ministers and central bank governors meet virtually this week. (IMF-Recovery-Vaccine)
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SEOUL -- South Korea's central bank on Thursday expected the country's gross domestic product (GDP) to grow 3.0 percent this year.
The real GDP, adjusted for inflation, was forecast to expand 3.0 percent in 2021, the Bank of Korea said after freezing its benchmark interest rate at an all-time low of 0.50 percent at the regular rate-setting meeting. (S. Korea-GDP Forecast-2021)
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WASHINGTON -- The U.S. economy remains far from the Federal Reserve's goals for employment and inflation, and monetary policy will continue to provide support to the economy, a senior Fed official said Wednesday.
"Today the economy remains far from our goals in terms of both employment and inflation, and it will take some time to achieve substantial further progress," Fed board governor Lael Brainard said during a virtual lecture at Harvard University. (US-Economy-Fed)
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SAN FRANCISCO -- Boeing in its new forecast on Wednesday projected demand for 2,610 new airplanes in Latin America and the Caribbean over the next two decades.
The 20-year market for commercial aircraft within the region is valued at 365 billion U.S. dollars, according to Boeing's 2020 Commercial Market Outlook, an annual forecast of demand for commercial airplanes and services and Boeing's view of near-, medium- and long-term market dynamics. (US-Boeing-Latin America)
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MANILA -- The Asian Development Bank (ADB) said on Thursday that it has sold a 2 billion U.S. dollars 10-year global bond, proceeds of which will be part of ADB's ordinary capital resources.
This is ADB's second successful outing in the U.S. dollar market this year, ADB Treasurer Pierre Van Peteghem said in a statement. (Philippines-ADB-Bond)