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IMF Executive Board Concludes 2023 Article IV Consultation with Norway

Norway experienced one of the highest growth rates among advanced economies last year, and risks remain balanced. Growth is continuing but at a more modest pace. The country has experienced windfall gains from high petroleum and natural gas prices that have so far countered global headwinds. Growth prospects remain favorable, and imminent risks are balanced, not least due to Norway’s solid fundamentals and policy management. The external position in 2022

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World Economic Outlook: Update July 2023 press briefing transcript

Global growth is projected to fall from an estimated 3.5 percent in 2022 to 3.0 percent in both 2023 and 2024. The rise in central bank policy rates to fight inflation continues to weigh on economic activity. Global headline inflation is expected to fall from 8.7 percent in 2022 to 6.8 percent in 2023 and 5.2 percent in 2024. Underlying (core) inflation is projected to decline more gradually, and forecasts

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United Arab Emirates on AML blacklist: ESMA draws consequences

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has withdrawn as required by EMIR the recognition decisions of the following three central counterparties (“CCPs”) established in the United Arab Emirates (including the Dubai International Financial Centre).

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Euro Area: IMF Executive Board Concludes 2023 Article IV Consultation

The euro area economy has shown remarkable resilience in the aftermath of Russia’s invasion of Ukraine and the largest terms of trade shock in several decades, thanks to a swift policy response and a strong rebound in contact-intensive services. However, economic activity weakened significantly in the second half of 2022 and slipped into a mild technical recession in early 2023 as financial conditions tightened, real wages declined, and consumer confidence

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Grenada: IMF Executive Board Concludes 2023 Article IV Consultation

Grenada’ tourism-dependent economy continued to recover from the pandemic amidst rising energy and food prices. Growth is estimated to have reached 6.4 percent in 2022, driven by a tourism rebound and construction activity. Inflation rose moderately to 2.9 percent by end-2022, as the authorities’ policy response dampened the pass through from rising global food and fuel prices. Public debt is now back on a downward trend. The financial sector is

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