United States

U.S. to use all economic, political tools to hold Maduro accountable: Pompeo

Reuters | Apr 15, 2019 at 5:03 AM
  • The United States will use all economic and political tools at its disposal to hold Venezuelan President Nicolas Maduro accountable for his country’s crisis and will make clear to Cuba and Russia they will pay a price for supporting him, U.S. Secretary of State Mike Pompeo said on Sunday.
  • Critics have warned that heavy sanctions on Venezuela could hurt ordinary Venezuelans.
  • During his trip, Pompeo echoed previous U.S. criticism of China’s growing presence in Latin America, warning of “predatory” lending practices and “malign or nefarious” actions.

United Kingdom

Interview: Oil prices above $70/b already hurting demand growth – IEA’s Birol

S&P Global Platts | Apr 15, 2019 at 2:33 AM
  • Current oil prices above $70/b are already starting to drag on global oil demand and threaten to soften demand growth forecasts this year, the International Energy Agency’s executive director Fatih Birol said Friday.
  • In its latest monthly oil market report released this week, the IEA kept its estimates for global oil demand growth in 2019 unchanged at 1.4 million b/d, up from 1.3 million b/d in 2018.
  • Earlier in the week, OPEC’s research and analysis arm was even more pessimistic than the IEA, warning of slowing demand growth and lowering its estimate for global oil demand growth this year by 30,000 b/d to 1.21 million b/d due to “slower-than-expected economic activity.”

China

Venezuela slams “criminal impact” of U.S. sanctions

Xinhua News Agency | Apr 15, 2019 at 1:58 AM
  • The Venezuelan government on Sunday denounced the U.S. sanctions targeting its state-owned oil company PDVSA for the “criminal impact” on the Venezuelan people.
  • The sanctions “prevent the implementation of humanitarian aid programs for particularly difficult health cases,” such as cancer, Parkinson’s, epilepsy, and liver and bone marrow transplants.
  • Currently, some 25 patients are in Italy awaiting bone marrow transplants, but the government has been unable to access the funds to pay for the procedures, putting them at “grave risk.”

Greece

U.S. opposes more IMF funding, at odds with other stakeholders

Hellenic Shipping News | Apr 15, 2019 at 12:00 AM
  • The United States repeated its opposition to increasing overall funding and shareholding quotas for the International Monetary Fund, putting it at odds with other stakeholders on the need to boost the global lender’s resources and update its governance.
  • The IMF’s last quota increase was agreed in 2010, boosting the shareholding and influence of major emerging markets including China and Brazil.
  • Oil-rich Venezuela is embroiled in political and economic turmoil as socialist President Nicolas Maduro battles to retain power in the face of U.S. and Western powers’ backing of opposition leader Juan Guaido.

Greece

Chill in global economy prompts G20 call for trade truce

Hellenic Shipping News | Apr 15, 2019 at 12:00 AM
  • The risk that global economic growth could slow more than expected spurred a call from top finance officials for countries to overcome trade differences and opt for multilateral cooperation and “timely policy action”.
  • Treasury Secretary Steven Mnuchin repeated the U.S. opposition to increasing overall funding and shareholding quotas, likely meaning the effort to lift IMF funding and reshuffle voting rights was a dead issue at this week’s meetings.
  • The IMF’s last quota increase was agreed in 2010, boosting the shareholding and influence of major emerging markets including China and Brazil.

Greece

U.S. opposes more IMF funding, at odds with other stakeholders

Hellenic Shipping News | Apr 15, 2019 at 12:00 AM
  • The United States repeated its opposition to increasing overall funding and shareholding quotas for the International Monetary Fund, putting it at odds with other stakeholders on the need to boost the global lender’s resources and update its governance.
  • The IMF’s last quota increase was agreed in 2010, boosting the shareholding and influence of major emerging markets including China and Brazil.
  • Oil-rich Venezuela is embroiled in political and economic turmoil as socialist President Nicolas Maduro battles to retain power in the face of U.S. and Western powers’ backing of opposition leader Juan Guaido.