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Dec 4, 2012

Ivory Coast seeks $4 bln in donor funds for development

PARIS, Dec 4 (Reuters) – Ivory Coast President Alassane
Ouattara appealed to international donors on Tuesday for $4
billion to help fund post-war development, saying it would help
stem the spread of instability and crime in West Africa.

With the international community anxious to contain an al
Qaeda enclave in neighbouring Mali, Ouattara urged a conference
of wealthy nations and multilateral organisations in Paris to
treat Ivory Coast as an anchor of stability in West Africa.

Nov 30, 2012

ECB, IMF press euro zone to reform as crisis far from over

PARIS (Reuters) – The euro zone’s crisis is far from over and its members must consolidate their budgets and forge a banking union to put the bloc on a more stable economic footing, the leaders of the IMF and European Central Bank said on Friday.

Underlining the bloc’s woes, data showed both German retail sales and French consumer spending falling faster than expected as well as stubborn Spanish inflation that will likely lift the cost of state pension rises for an already hard-pressed budget.

Nov 20, 2012

France risks new downgrade if reforms stall: Moody’s

PARIS (Reuters) – Moody’s, the second credit-rating agency to strip France of its top triple-A rank, told Reuters it will downgrade the country’s debt further if the government fails to implement reforms such as a labor market overhaul.

Dietmar Hornung, Moody’s lead analyst for France’s sovereign rating and author of the downgrade statement, said a sustained loss of competitiveness in Europe’s second biggest economy and its failure to tackle structural problems prompted the decision to cut France by one notch to Aa1 with a negative outlook.

Nov 20, 2012

France to answer Moody’s ratings downgrade with reforms

PARIS (Reuters) – France said it would respond to Moody’s credit downgrade by pushing ahead with economic reforms but complained the ratings agency had overlooked efforts already taken to revamp the euro zone’s second largest economy.

France lost its prized triple-A badge from the Standard & Poor’s in January and so Monday’s move by Moody’s was not surprising but it underlined doubts about Socialist President Francois Hollande’s ability to fix France’s public finances.

Nov 20, 2012

France to answer ratings downgrade with reforms

PARIS (Reuters) – France said it would respond to Moody’s credit downgrade by pushing ahead with economic reforms but complained the ratings agency had overlooked efforts already taken to revamp the euro zone’s second largest economy.

France lost its prized triple-A badge from the Standard & Poor’s in January and so Monday’s move by Moody’s was not surprising but it underlined doubts about Socialist President Francois Hollande’s ability to fix France’s public finances.

Nov 16, 2012

Congo PM says U.N. must impose sanctions on Rwandan officials

PARIS (Reuters) – The prime minister of Democratic Republic of Congo urged the United Nations on Friday to impose sanctions on senior Rwandan officials linked to a bloody insurgency in eastern Congo, or risk losing its credibility.

Augustin Matata Ponyo said the U.N. Security Council must take firm action after a confidential report by a U.N. panel of experts accused Rwandan officials, including Defence Minister James Kabarebe, of arming and supporting the M23 rebel group.

Nov 15, 2012

France posts surprise GDP growth of 0.2 percent in third quarter

PARIS (Reuters) – France’s economy unexpectedly grew 0.2 percent in the third quarter as households splashed out on clothing and trade data turned positive, but economists said high unemployment and rising taxes made for a gloomy outlook.

The preliminary data from the INSEE national statistics office confounded fears that France might slip into recession by year-end, although second-quarter output was revised down to show a 0.1 percent contraction instead of being flat.

Nov 15, 2012

France posts surprise GDP growth of 0.2 percent in Q3

PARIS (Reuters) – France’s economy unexpectedly grew 0.2 percent in the third quarter as households splashed out on clothing and trade data turned positive, but economists said high unemployment and rising taxes made for a gloomy outlook.

The preliminary data from the INSEE national statistics office confounded fears that France might slip into recession by year-end, although second-quarter output was revised down to show a 0.1 percent contraction instead of being flat.

Nov 15, 2012

Germany, France eke out third-quarter growth, worse times to come

BERLIN/PARIS (Reuters) – Germany and France each grew by 0.2 percent in the third quarter but with the euro zone’s debt-laden members suffering deeply, the currency bloc as a whole is likely to have slid into recession.

The quarterly performance of Europe’s dominant economy reported on Thursday was in line with forecasts and analysts said it could not defy gravity for much longer. The French economy surprised on the upside, having been expected to post no growth at all after a revised 0.1 percent fall in the second quarter.

Nov 15, 2012

Germany, France eke out third quarter growth

BERLIN/PARIS (Reuters) – Germany and France each grew by 0.2 percent in the third quarter but with the euro zone’s debt-laden members suffering deeply, the currency bloc as a whole is likely to have slid into recession.

The quarterly performance of Europe’s dominant economy reported on Thursday was in line with forecasts and analysts said it could not defy gravity for much longer. The French economy surprised on the upside, having been expected to post no growth at all after a revised 0.1 percent fall in the second quarter.