The International Monetary Fund admitted it had to lower its normal standards for debt sustainability to bail out Greece, and its projections for the Greek economy may have been overly optimistic.
European Central Bank President Mario Draghi said on Thursday that the Euro-area economy will return to growth by the end of the year, handing policy makers a reason to hold back fresh stimulus. Draghi spoke after the ECB Governing Council in Frankfurt left its main refinancing rate at 0.5% after reducing it by a quarter points last month.
The General Assembly of the Organization of American States (OAS), meeting in Guatemala adopted the Inter-American Convention against Racism, Racial Discrimination, and Related Forms of Intolerance and the Inter-American Convention against All Forms of Discrimination and Intolerance and opened them for signature.
Francis has denounced what he called a “culture of waste” in an increasingly consumerist world and said throwing away good food was like stealing from poor people.
The Russian veterinary and phytosanitary service, Rosselkhoznadzor, temporarily suspended imports from two Brazilian beef slaughterhouses and one poultry processing facility on May 17, citing detection of listeria in shipments, according to processors involved.
Airline profits will be 20% higher than expected this year despite razor-thin margins, according to the industry's main representative body. The International Air Transport Association (IATA) said increased demand was helping pack planes to record levels.
Argentine prosecutor Alberto Nisman responsible for the investigation into the 1994 bombing of a Jewish institution in Buenos Aires that killed 85 people and which points as culprits to several Iranian officials said he will step down if those Iranians named in the report “surrender to face trial”.
Representatives of sixty six countries lined up at U.N. headquarters in New York to sign the first international treaty to regulate the 85 billion dollars global conventional arms trade, a landmark event. However doubts exist about whether the treaty will work.
Southern Right Whales are dying off at a record rate in Argentina's Patagonia region, a conservation group warned.
The International Air Transport Association (IATA) announced that Richard H. Anderson, CEO of Delta Air Lines, has assumed his duties as Chairman of the IATA Board of Governors.