G7: Oil Prices a Risk to Economic Growth
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High oil prices pose a risk to the global economy, but the economic outlook for 2005 is still favorable, the Group of Seven nations said in a statement following their meeting on Friday.
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U.S. Treasury Secretary John Snow on  Friday said higher oil prices were a risk to global growth, but  were unlikely to trigger a recession.
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Another year of record-high oil prices may dent world economic growth in 2005, with China being particularly vulnerable, an OPEC official said Tuesday.
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MANILA : The economies of developing Asia can expect gross domestic product (GDP) growth to hit 7.0 percent this year despite rising world oil prices, the Asian Development Bank (ADB) said on Wednesday.
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British Chancellor Gordon Brown believes action must be taken to protect economic growth. Photo: AP. The global economic recovery is at risk unless governments tackle growing trade imbalances
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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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A global economic slow-down is looking more likely because of higher oil prices and a US housing dip, the IMF warns.
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The world economy will face higher prices than in the past decade as more oil comes from &quot;politically unstable&quot; countries, such as Saudi Arabia and Russia, and production costs rise, the International Energy Agency warned on Tuesday.
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The Chairman of the US Federal Reserve, Alan Greenspan, says he believes the current surge in global oil prices will not have the same impact on economic growth and inflation as the energy crisis of the 1970s.
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The impact of the current surgein oil prices, though noticeable, is likely to prove less consequential to economic growth and inflation than in the 1970s, US Federal Reserve Chairman Alan Greenspan said Friday.
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Fifteen months ago, key members of the Organization of the Petroleum Exporting Countries said that the steep price of oil, about $70 a barrel, was a concern because it might endanger global economic growth -- and stifle global demand for oil.
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The International Monetary Fund (IMF) yesterday cut its 2005 outlook and warned that the high price of oil threatened to curb global economic growth, which it said would be the strongest this year for almost 30 years.
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High oil prices will probably brake US growth but will not derail the economy provided they do not rise sharply from current levels, top Federal Reserve policymakers said on Tuesday.
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The recent jump in world oil prices has cast a cloud over the global economic recovery, the International Monetary Fund says. The Washington-based watchdog said world growth was expected to be the strongest
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WASHINGTON: Global finance chiefs may admit this week that soaring oil prices are a cloud on a generally sunny world economic horizon but they will likely dismiss any chance they could drown growth.
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The global economy should register its strongest growth in 30 years in 2004 despite soaring oil prices, which are expected to restrain the US expansion a bit, the International Monetary Fund said Wednesday.
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The German finance minister, Hans Eichel, today warned that global growth would be at risk if oil prices remained at their current levels.