FINANCE ministers of the G20 nations meeting in Moscow may not criticise Japan for weakening the yen, a leaked draft communique has indicated. The news sent the yen sharply lower, falling 1.5 per cent against the dollar. Japan's new government has demanded looser monetary policy, causing the yen to fall 15 per cent in value since September.
JAMAICA has agreed terms with the International Monetary Fund to receive a new $US750million ($F1.331billion) loan. A condition for the IMF loan is the completion of a planned debt swap. The Caribbean nation must get private sector lenders to accept more lenient terms on its existing heavy debt load, equal to 140 per cent of economic output.
FRENCH meat processing company Spanghero knowingly sold horsemeat labelled as beef, the French government has said. Spanghero's licence is being suspended while an inquiry continues, Agriculture Minister Stephane Le Foll said. The firm has denied the allegations, saying it only ever dealt in meat it believed to be beef.