U.N. Says U.S. Deficits Distort Global Economy
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The United Nations said today that the twin deficits of the United States were putting the global economy off balance
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The dollar weakened against major  currencies after Federal Reserve Chairman Alan Greenspan on  Wednesday painted a softer picture for the world's largest  economy than many had anticipated, citing a rising budget  deficit and low inflation.
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The global economy is set for another   year of strong growth, the International Monetary Fund said on   Thursday, but it warned that rising inflationary pressures and   a U.S. economic slowdown posed growing dangers.
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Japan and Germany are failing to stimulate the world economy, leaving the United States with the difficult burden of generating enough demand for goods and services to sustain growth around the world, a U.N. report said Thursday.
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The world's poorest nations are at a technological disadvantage, says a United Nations trade body.
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Finance leaders from the worldâs wealthiest nations warned Saturday that global economic woes could get worse from the slump in the American housing market.
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The deficit jumped by 9.3 percent, to $63.1 billion,  the government said, reflecting record oil imports. The deficit with China declined while the weak dollar lifted exports to a record high.
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WASHINGTON - Finance officials failed to resolve their differences over debt relief for the world's poorest countries and Iraq while expressing concern about the impact high oil prices would have on a strengthening global economy.    The ministers and central bank governors attended weekend steering committee meetings of the International Monetary Fund and the World Bank before heading into a session involving all 184 member nations of the two lending organizations on Sunday, the final day of talks...
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The managing director of International Monetary Fund said large economic imbalances caused in part by AmericaÂs trade deficit with China and others are a threat.
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The International Monetary Fund warned Tuesday that the risks of a global slowdown have increased due to higher interest rates, surging oil prices and an apparent cooling in the U.S. housing market that could slow the U.S. economy.
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The US is set to rack up an even bigger budget deficit than first thought over the next decade, officials say.
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WASHINGTON : The United States should cuts its fiscal and trade deficits, while Europe and Japan should take steps to boost economic growth, IMF managing director Rodrigo Rato revealed.
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The current recovery of the global economy is dampened by risks that could give rise to financial and exchange-rate instability and to a slowdown in growth, the United Nations Conference on Trade and Development (UNCTAD) warned Thursday.
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The United States on Wednesday said that three draft negotiating texts for the World Trade Organization's Doha Round fall short of the WTO goal to stimulate growth in the global economy.
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Soaring oil prices could shave as much as one percentage point from Asia's gross domestic product (GDP) growth this year, forcing the region to make painful adjustments, the United Nations said.
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The persistently high current-account deficit of the U.S. in world trade threatens to further devalue the dollar, Federal Reserve Chairman Alan Greenspan said today.
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Prospects for the global economy next year are growing dimmer as oil prices hurt consumption and the rise in the U.S. trade deficit depresses the dollar.