Pakistan economy to grow to 4.5% this year: IMF

The IMF on Friday forecast Pakistan's country's economy to increase to 4.5% this fiscal, citing macroeconomic stability, low global oil prices, planned improvements in the domestic energy supply and investment related to the China-Pak Economic Corridor.

UK finances buoyed by influx of payments from wealthy taxpayers

The government’s finances improved last month to post their biggest surplus in seven years, after an influx of delayed payments from wealthy taxpayers who benefited from a cut in the 50p top rate of tax.

Ed Balls proposes spending watchdog role in vetting expenditure plans

Ed Balls has sought to reassure voters that Labour can be trusted with public finances by announcing plans to allow the Office for Budget Responsibility (OBR) to check future governments’ spending commitments are affordable.

George Osborne: We'll run a budget surplus

Chancellor George Osborne has said he wants the government to be running a surplus in the next Parliament and can get there without raising taxes.

ECB's Benoit Coeure says central banks cannot replace government inaction

CAMBRIDGE: Governments are in a key role in solving the sovereign debt crisis, and central banks can buy time, not replace their actions, European Central Bank Executive Board member Benoit Coeure said on Saturday.

Cyprus could default on loan payments due this month

NICOSIA: Cyprus could default on loan payments due this month unless it can reach an agreement on a bailout with international lenders within days, a government official said on Monday.

Mervyn King gives green light for George Osborne to miss UK debt target

Sir Mervyn King has cleared the way for the Chancellor to ditch one of his cast-iron fiscal rules and miss his target to get the national debt under control by 2016.

David Cameron defends economic policies

Prime Minister David Cameron has defended the UK's economic policies, saying the government has acted "decisively" to restore confidence in its public finances.

Debt crisis: Spain's recession 'could last until 2014'

Spain's recession could drag into 2014 due to austerity measures, economists warned, after Madrid outlined a new €65bn (£51bn) cuts package.

Budget 2012: IFS warns Budget is based on optimistic assumptions

George Osborne is at risk of breaking his golden economic rules because his Budget appears to be based on optimistic assumptions about tax revenues, the Institute for Fiscal Studies (IFS) has warned.