OECD Week: Where next for the world economy?

OECD Week: Where next for the world economy?

Debate at the OECD Forum and the forecasts and analysis in the latest edition of the OECD’s twice-yearly Economic Outlook will set the tone for recommendations and decisions at the OECD’s annual ministerial meeting.
Restoring stability, confidence and sustainable growth is the priority. The OECD is working with governments and international organisations to cut short the crisis and lay the foundations of a stronger, cleaner and fairer global economy.

OECD sees strongest outlook since 2007
The Organisation for Economic Co-operation and Development has revised its World Economic Outlook upwards for the first time in two years, as its latest review concludes that the global economic slide is nearing a bottom.
In its report, published on Wednesday, the OECD revised its growth forecast for 2009 to a decline of 4.1 per cent, down from a contraction of 4.3 per cent. It said that in 2010, it expects very modest growth where earlier it expected none.
Weak recovery in sight but damage from crisis likely to be long-lasting, says OECD
http://www.oecd.org/document/41/0,3343,en_2649_34109_43123241_1_1_1_37443,00.html

The OECD Forum on 23-24 June, and the OECD ministerial meeting on 24-25 June mark the annual high point in the Organisation’s calendar. Ministers from governments from around the world, as well as leading representatives of business, labour, NGOs, academia and the media, will thrash out ideas and seek solutions to global problems.
>> Read this Key Information brochure to find out more about the issues that will be debated.

The forecasts in the Economic Outlook, to be published at 10:30 on 24 June, and discussions at the Forum will feed directly into the ministerial meeting which will be chaired by Korean Prime Minister Han Seung-soo

Joaquín Almunia, EU Commissioner, on next steps in the crisis



OECD Annual Report 2009 Download http://www.oecd.org/dataoecd/38/39/43125523.pdf

22-Jun-2009
This Annual Report highlights some of the OECD's achievements in 2009 and describes how it is helping its member countries respond to new challenges ahead.
Also available:

* Rapport annuel de l'OCDE : 2009 , pdf, (French)

Today in Russian Business - June 15, 2009

Today in Russian Business - June 15, 2009
http://www.robertamsterdam.com/2009/06/today_in_russian_business_-_june_15_2009.htm

(Source Robert Amsterdam Blog)
Finance Minister Alexei Kudrin has said that he believes the dollar is in 'good shape' and does not need to be replaced as a global reserve currency. Russia will not 'significantly' change the structure of its reserves, he added. The Moscow Times examines the place of Russia within BRIC, as its economy falters and its lack of a 'properly developed financial sector' becomes problematic. At the first formal summit of the BRIC nations, new global reserve currencies will not be discussed, but reforming international financial institutions will be. Russia and Canada will support Germany's deal to sell Opel to Magna. China Development Bank has extended a $1 billion credit line to VEB. Oleg Deripaska has invited two of Putin's allies, First Deputy Prime Minister Igor Shuvalov and Deputy Prime Minister Igor Sechin, to join the board of a paper mill that he owns in a conciliatory gesture towards the Prime Minister. Bloomberg looks at Deripaska's links to Putin, and how as 'Russia's largest non-state borrower', the oligarch will manage to emerge from the crisis.
http://www.robertamsterdam.com/cgi-bin/mt4/mt-t.cgi/15145

India shines among weaker bourses

LONDON (Reuters) - Equities in Europe and Japan fell on Monday although emerging markets got a big boost from Indian elections which raised hopes of a stable, pro-economic reform government.
The dollar strengthened slightly against major currencies after last's week four-month low.
India was a bright spot for equity investors with the benchmark 30-share BSE index .BSESN surging more than 17 percent before trading was halted for the day.
Prime Minister Manmohan Singh's coalition defied predictions of a tight election result and was only about 11 seats short of an outright majority following the vote count.
A strong Indian coalition, free of the pressures from its former communist partners, has boosted the prospect of reforms to encourage growth in Asia's third-largest economy.
http://www.reuters.com/article/hotStocksNews/idUSTRE54B01U20090518