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Canada's Flaherty says 'no doubt' budget balanced by 2015

By Louise Egan OTTAWA (Reuters) - Canadian Finance Minister Jim Flaherty said on Monday there is "no doubt" the government's books will be balanced in 2015, but he cautioned against speculation the federal deficit will be eliminated sooner than that. Flaherty later said he would present the government's 2014-15 budget to Parliament on February 11 at 4 p.m. (1600 ET).

Congress must raise debt cap by late-February

The US Treasury said Wednesday that it would exhaust its ability to borrow funds to pay all its bills by late February if Congress does not increase the country's borrowing limit. "I respectfully urge Congress to provide certainty and stability to the economy and financial markets by acting to raise the debt limit before February 7, 2014, and certainly before late February," Treasury Secretary Jacob Lew said in a letter to Congress.

Congress must raise debt cap by late-February

The US Treasury said Wednesday that it would exhaust its ability to borrow funds to pay all its bills by late February if Congress does not increase the country's borrowing limit. "I respectfully urge Congress to provide certainty and stability to the economy and financial markets by acting to raise the debt limit before February 7, 2014, and certainly before late February," Treasury Secretary Jacob Lew said in a letter to Congress.

Lew warns Congress he will run out of manoeuvring room on US debt ceiling by late February

WASHINGTON - Treasury Secretary Jacob Lew has told Congress that by late February he will run out of steps he can take to avoid a first-ever default on U.S. debt. In a letter to congressional leaders Wednesday, Lew said he thinks he will exhaust the bookkeeping manoeuvrs he can make to avoid breaching the federal borrowing limit sooner than previously thought. He had estimated in December that he could avoid a default until late February or early March.

U.S. debt ceiling to bind by late February: Treasury

WASHINGTON (Reuters) - The Obama administration warned Congress on Wednesday that the government would likely run out of borrowing authority needed to help pay its bills by late February if lawmakers do not swiftly raise the federal debt ceiling. Previously, the administration had projected the borrowing authority could last until as late as early March, but the Treasury Department said it now believed Congress had a more narrow window in which to act.

China's 2013 growth matches slowest rate since 1999

China's economy last year registered flat growth of 7.7 percent, maintaining its slowest expansion in more than a decade as the government warned Monday of "deep-rooted problems" including a mountain of local authority debt. Gross domestic product (GDP) expansion for the October-December quarter also came in at 7.7 percent, the National Bureau of Statistics (NBS) said, slowing from 7.8 percent in the previous three months.

Greece to meet primary budget surplus target: finance ministry

Greece will meet its target of a primary budget surplus exceeding 800 million euros in 2013, the deputy finance minister said on Tuesday. Deputy finance minister Christos Staikouras told reporters that the general government primary surplus -- the budget surplus not counting debt servicing costs -- would close at "over 800 million euros" in 2013. The central government surplus for the 12-month period of 2013 is already 691 million euros, he added.

Obama administration says U.S. debt ceiling could be hit in February

By Jason Lange WASHINGTON (Reuters) - The Obama administration warned Congress on Thursday that the government could run out of borrowing authority needed to help pay its bills as soon as February if lawmakers do not swiftly raise the federal debt ceiling. "I respectfully urge Congress to take action to raise the debt limit at the earliest possible moment," Treasury Secretary Jack Lew said in a letter to congressional leaders.

October capital inflows biggest in five years:Treasury

NEW YORK (Reuters) - Foreigners poured money back in the United States in October at the biggest monthly clip in five years after they fled from them in September on fears that the government could default on some of its debt obligations, U.S. Treasury data showed on Monday. Foreigners bought $194.9 billion more in U.S. stocks and bonds than what they sold in October, compared with a net sale of $97.6 billion in September. The September net sale was originally reported at $106.8 billion.

Koreans' excess cash holdings fall in Q3

SEOUL, Dec. 13 (Yonhap) -- Excess funds held by South Korean households and non-profit agencies fell to their lowest level in three quarters in the third quarter as consumer spending rose, the central bank said Friday. The value of their excess funds amounted to 21.4 trillion won (US$20.3 billion) in the July-September period, down from 28.2 trillion won three months earlier, according to the Bank of Korea (BOK). The third-quarter data marked the smallest amount since the fourth quarter of 2012 when such funds reached 20.4 trillion won.
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