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Coverage of topics related to exports and exporting > > Treasury Secretary Paulson Travels to Africa Treasury Secretary Henry M. Paulson. Jr traveled to Tanzania. South Africa and Ghana to attend the meeting of G-20 Finance Ministers and Central Bank Governors and discuss the positive economic changes taking place on the continent with government and business leaders. Africa is experiencing its highest rates of growth and lowest levels of inflation in 30 years prompting increasing investor interest in the continent. Secretary Paulson used his trip to discuss the underpinnings of Africa’s recent growth and explore ways in which the international financial community can further support Africa’s development. Additionally. Secretary Paulson highlighted the importance of conservation efforts in Africa and the complementary role they play with economic growth. “Indeed the resilience of many dynamic emerging markets in the face of the current global financial market turmoil is testimony to the sound economic stewardship in these countries and the importance of the G-20 as a forum for contributing to the management of the international financial system,” Secretary Paulson said. He said that the G-20 is taking a two-pronged approach to dealing with the capital markets turmoil and the housing downturn in the United States. In the short term they are working to avoid preventable foreclosures and promote orderly markets. They are also focused on policy issues such as transparency risk management the accounting and valuation of complex products and the role of rating agencies so we can avoid a recurrence of these events in the future. Secretary Paulson stated that a major focus of the weekend was the reform of the International Financial Institutions. The G-20 is uniquely situated to constructively address this issue; its member countries make up 85% of global GDP and emerging markets have a growing and important role in this group. He also urged G-20 leaders to join the United States in Doha talks. “Reducing tariff and other trade and investment barriers and maintaining open markets is critical to ensuring that the benefits of trade are shared broadly and success on Doha is the single most effective thing we can do to raise living standards around the world. The United States is committed to working with our global trading partners and is ready to negotiate off the texts that have been produced in Geneva to ensure a successful Doha Round.” Secretary Paulson said the United States is committed to open investment. He commented that sovereign wealth funds should be able to invest globally but it is inevitable that when large government-run opaque funds are investing around the globe questions will arise. To address this. Paulson said. “We believe a considered multilateral approach to sovereign wealth funds that maintains openness is in the best interest of both countries that have these funds and countries in which the funds invest. Work is also progressing in the OECD to develop best practices for countries that receive foreign government-controlled investment. Recipient countries have a responsibility to maintain openness.” The Secretary departed on November 13 and arrived in Arusha. Tanzania on November 14. On November 15 he co-hosted with Tanzanian Finance Minister Zakia Meghji a discussion on regional financial integration with the other finance ministers of the East African Community. While in Arusha he visited a land trust and toured a mosquito net factory. He then traveled to Cape Town. South Africa where he delivered remarks on November 16 at the U. S.-Africa Business Summit organized by the Corporate Council on Africa. He also attended the meeting of G-20 Finance Ministers and Central Bank Governors in Kleinmond. South Africa on November 17 and 18. On November 19. Secretary Paulson arrived in Ghana to meet with President John Kufuor and co-host with Ghanaian Finance Minister Kwadwo Baah-Wiredu a meeting with private-sector financial leaders on financial sector development in West Africa following a tour of the Ghana Stock Exchange. Later that day he was joined by African Development Bank President Donald Kaberuka and discussed infrastructure investment during a tour of Akosombo Dam. This entry was postedon Wednesday. November 21. 2007 at 9:32 amand is filed under. You can follow any responses to this entry through the feed. Responses are currently closed but you can from your own site. Export Industry News is proudly powered byand. A little something about you the author. Nothing lengthy just an overview. Export Industry News is proudly powered byand.24 queries. 0.769 seconds.

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Washington- Treasury Secretary Henry M. Paulson. Jr issued the following statement today announcing the appointment of Financial Management function Commissioner Judith R. Tillman effective January 4. 2008 upon the retirement of Commissioner Kenneth R. Papaj: "I am pleased to announce the appointment of Judith Tillman as FMS Commissioner. I am confident that Ms. Tillman will serve the American people in an exemplary manner in her new lay. She is an outstanding addition to our team of bureau heads within Treasury and brings a wealth of experience to our critical responsibility of effectively managing U. S government finances." Ms. Tillman has worked at FMS and the Internal Revenue Service for more than 34 years. For the past 18 months she has served as FMS Deputy Commissioner. Prior to that she was the FMS Assistant Commissioner for Regional Operations responsible for issuing federal payments at Financial Centers across the country for hundreds of Federal agencies. FMS has primary responsibility for the Federal Government's payments and collections annually processing more than one billion disbursements to more than 100 million people processing over $3 trillion in Federal revenues and collecting over $3.5 billion in delinquent debt. As manager of the government's central accounting and financial reporting systems. FMS issues the annual Financial Report of the U. S. Government.

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POLITICS. NEWS. FINANCE mparent7777 Marc Parent mparent CCNWON My archived blog is at: The US Federal Reserve expects the US economy to grow sluggishly next year and says risks are on the downside according to forecasts issued on Tuesday. The Fed also published the of the October meeting of the interest rate setting Federal Open Market Committee (FOMC) which showed that the decision was a close call. The Fed said on Tuesday that it expects food and energy prices to continue putting upward pressure on inflation but underlying inflation is now and will remain within the target range implied by their new forecast. The Fed showed that it no longer believed the US economy can grow much more than 2.5% a year without causing rising inflation a lower rate than many investors thought was sustainable. The downbeat assessment of long-term growth potential growth helps explain why the US central bank appears reluctant to cut interest rates too aggressively in the face of low growth. The Fed indicated that it intends to target inflation of 1.6-1.9% on its preferred measure the personal consumption expenditure deflator. The estimates were contained in the first set of enhanced economic forecasts published by the Fed. The 1.75% midpoint of this range is higher than that of the 1% to 2% alleviate zone that was promoted in 2002 by Ben Bernanke then a Fed governor and now Fed chairman. The new forecasts are seen as keeping open the option of cutting rates again in coming months. However the minutes of the FOMC's Oct. 30-31 meeting which ended with a decision to cut the target for the Fed's key interest rate to 4.5% from 4.75% show that the decision to cut rates as opposed to leaving them unchanged was a "close call." The Fed issued a statement after the October meeting saying risks of weaker growth and higher inflation were balanced. In the interval policymakers undergo signalled that a evaluate cut is not envisaged at the Dec 11th meeting. But the markets are expecting another quarter-point rate cut next month. The forecasts may bolster those hopes because they reinforce the impression that despite the Fed's officially neutral stance it is in fact worried more about growth than inflation. <script language="javascript" src="http://adserver adtech de/addyn|3.0|257|1057545|0|165|ADTECH;loc=700;target=_blank;key=key1+key2+key3+key4;grp=[group]"></compose><noscript><a.

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POLITICS. NEWS. FINANCE mparent7777 Marc Parent mparent CCNWON My archived blog is at: The US Federal Reserve expects the US economy to grow sluggishly next year and says risks are on the downside according to forecasts issued on Tuesday. The Fed also published the of the October meeting of the interest rate setting Federal Open Market Committee (FOMC) which showed that the decision was a close call. The Fed said on Tuesday that it expects food and energy prices to continue putting upward pressure on inflation but underlying inflation is now and will remain within the aim range implied by their new forecast. The Fed showed that it no longer believed the US economy can change much more than 2.5% a year without causing rising inflation a lower evaluate than many investors thought was sustainable. The downbeat assessment of long-term growth potential growth helps explain why the US central bank appears reluctant to cut interest rates too aggressively in the approach of low growth. The Fed indicated that it intends to target inflation of 1.6-1.9% on its preferred measure the personal consumption expenditure deflator. The estimates were contained in the first set of enhanced economic forecasts published by the Fed. The 1.75% midpoint of this be is higher than that of the 1% to 2% comfort govern that was promoted in 2002 by Ben Bernanke then a Fed governor and now Fed chairman. The new forecasts are seen as keeping change state the option of cutting rates again in coming months. However the minutes of the FOMC's Oct. 30-31 meeting which ended with a decision to cut the aim for the Fed's key arouse rate to 4.5% from 4.75% show that the decision to cut rates as opposed to leaving them unchanged was a "close label." The Fed issued a statement after the October meeting saying risks of weaker growth and higher inflation were balanced. In the interval policymakers have signalled that a evaluate cut is not envisaged at the Dec 11th meeting. But the markets are expecting another quarter-point evaluate cut next month. The forecasts may bolster those hopes because they reinforce the impression that despite the Fed's officially neutral stance it is in fact worried more about growth than inflation. <script language="javascript" src="http://adserver adtech de/addyn|3.0|257|1057545|0|165|ADTECH;loc=700;aim=_blank;key=key1+key2+key3+key4;grp=[group]"></compose><noscript><a.

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The Fed indicated that it intends to aim inflation of 1.6-1.9% on its preferred decide the personal consumption expenditure deflator. The estimates were contained in the first set of enhanced economic forecasts published by the Fed. The 1.75% midpoint of this be is higher than that of the 1% to 2% comfort govern that was promoted in 2002 by Ben Bernanke then a Fed governor and now Fed chairman. The Fed issued a statement after the October meeting saying risks of weaker growth and higher inflation were balanced. In the interval policymakers have signalled that a rate cut is not envisaged at the Dec 11th meeting. But the markets are expecting another quarter-point evaluate cut next month. The forecasts may bolster those hopes because they reinforce the impression that despite the Fed's officially neutral stance it is in fact worried more about growth than inflation. The minutes and by Fed staff economists David Reifschneider and Peter Tulip accent that projections are subject to significant forecasting error and those errors grow the further the forecast goes into the future. Based on the track preserve of forecasts they say there's a 70% chance growth ordain be 1.3 percentage points higher or lower than the FOMC forecasts next year and 1.4 points higher or displace in subsequent years.

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"Ken Papaj's 34 years at the Treasury Department undergo been dedicated to improving government-wide financial management. Ken demonstrated outstanding leadership and judgment as FMS Commissioner. "In key executive positions over the last 20 years he has been instrumental in modernizing federal disbursements revenue collections central accounting debt collection and the regulation of government securities. He has been a highly respected leader in the financial management community. "I commend his recent efforts to improve Treasury's relationship with Chief Financial Officers across the Government for ensuring operational excellence throughout FMS and for his genuine commitment to our strategic goal of the all-electronic Treasury. We will miss his vast knowledge of government fiscal operations." Commissioner Papaj served as the FMS Commissioner since 2006. He was the FMS Deputy Commissioner from 1998 to 2006 and prior to that held senior executive positions at Treasury's Bureau of the Public Debt. He began his Federal career at the Bureau of Government Financial Operations. FMS's predecessor organization. FMS has primary responsibility for the Federal Government's payments and collections annually processing more than one billion disbursements to more than 100 million people processing over $3 trillion in Federal revenues and collecting over $3.5 billion in delinquent debt. As manager of the Government's central accounting and financial reporting systems. FMS issues the annual Financial Report of the U. S. Government.

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