WASHINGTON, May 8 (Reuters) – The U.S. Export-Import Bank
said on Tuesday it has approved a $2.95 billion loan to support
U.S. exports for a major natural gas project in Australia, as
lawmakers neared a vote on renewing the bank’s charter thruogh
Bank officials said the direct loan for the Australian
natural gas project will help support an estimated 11,000 U.S.
jobs and is the second-largest single-project financing in the
institution’s nearly 80-year history.
WASHINGTON (Reuters) – The Congress’ top Republican called on Tuesday for deeper economic engagement with Latin America as a bulwark against Iran’s attempt to gain influence in the region and the destabilizing effects of international drug cartels.
“The best defense against an expansion of Iranian influence in Latin America – and against the destructive aspirations of international criminals in the region – is for the United States to double down on a policy of direct engagement,” U.S. House of Representatives Speaker John Boehner said at the State Department.
WASHINGTON, May 8 (Reuters) – Pressure around the world to
cut government spending and accelerate economic growth has
improved the environment for talks about reducing farm
subsidies, one of the most sensitive areas of trade, a top U.S.
official said on Tuesday.
“I do think the overall economic situation in all of our
countries puts us in a better position to have a more thoughtful
conversation about farming support than we have (had) in a very
long time,” U.S. Trade Representative Ron Kirk said in remarks
at the U.S. State Department.
WASHINGTON, May 8 (Reuters) – The U.S. Congress’ top
Republican on Tuesday called for deeper U.S economic engagement
with Latin America, but also expressed concern over Iranian
influence in the region and the “alarming willingness” of some
governments to abandon international norms.
“In both Colombia and Mexico, and the entire hemisphere, the
U.S. must be clear that we will not disengage in the fight for
free markets and free, secure people,” U.S. House of
Representatives Speaker John Boehner said in remarks prepared
for delivery at the U.S. State Department.
WASHINGTON/ZURICH (Reuters) – The International Monetary Fund showed some new flexibility on Monday over how quickly it would press deeply indebted countries to bring their budgets under control if economic growth weakens.
Its shift in tone could prove important for Athens where chances have jumped that a new Greek government would seek to renegotiate its 130-billion-euro ($170-billion) bailout package with the IMF and the European Union, after Greek voters resoundingly rejected austerity measures in weekend elections.
WASHINGTON, May 7 (Reuters) – The U.S. House of
Representatives is expected to vote on Wednesday on a bipartisan
deal to keep the U.S. Export-Import Bank operating past May 31st
and gradually raise its lending cap to $140 billion, a House
leadership aide said on Monday.
House Majority Leader Eric Cantor, a Virginia Republican,
and House Minority Whip Steny Hoyer, a Maryland Democrat, struck
the deal on Friday, signaling an end to months of uncertainty
about the future of the government bank.
WASHINGTON/ZURICH, May 7 (Reuters) – The world’s advanced
economies must take steps to cut their huge public debt, but the
right mix of policies will vary by country, International
Monetary Fund Managing Director Christine Lagarde said on
“The most important element is to lay out a credible
medium-term plan to lower debt,” Lagarde said in a speech
delivered in Zurich. “Without such a plan, countries will be
forced to make an even bigger adjustment soon.”
WASHINGTON (Reuters) – Leaders of the U.S. House of Representatives said on Friday they reached a bipartisan deal to reauthorize the U.S. Export-Import Bank through September 30, 2014, and gradually increase its lending cap to $140 billion from the current $100 billion.
The deal, negotiated by Republican House Majority Leader Eric Cantor and Democratic House Minority Whip Steny Hoyer came just weeks before the bank’s temporary charter was set to expire.
WASHINGTON, May 3 (Reuters) – Japan should be required to
reduce the size of its auto industry before being allowed into
regional free trade talks with the United States and eight other
countries in the Asia Pacific, a top Ford Motor Co
“Any way you look at the Japanese market, it’s the most
protected automotive market in the developed world,” Steve
Biegun, Ford’s vice president for international government
affairs, said in an interview.
WASHINGTON, May 2 (Reuters) – Outgoing World Bank President
Robert Zoellick on Wednesday gave an impassioned defense of the
institution he has run for five years and urged his successor to
focus on developing countries as clients rather than aid
Zoellick said it was in the economic and security interest
of rich countries like the United States to continue supporting
the World Bank, which provides loans and other assistance to
help poor countries to tackle of wide array of problems.