LONDON (AP) — The Bank of England took emergency action Wednesday to stabilize U.K. financial markets and head off a crisis in the broader economy after the government spooked investors with a program of unfunded tax cuts, sending the pound … Read More
Among the surest signs of a society in deep crisis are persistent blackouts, the inability of a government to supply its citizens with power adequately and consistently. Outages signify neglect of critical infrastructure, warped energy markets, and regulatory corruption. But … Read More
WASHINGTON, March 1 (Reuters) – The International Monetary Fund and World Bank on Tuesday said they were racing to provide billions of dollars of additional funding to Ukraine in coming weeks and months, adding the war there is creating “significant … Read More
IMF Managing Director Kristalina Georgieva A $50-billion plan to end the COVID-19 pandemic developed by the International Monetary Fund (IMF), would generate an additional $9 trillion in global economic returns by 2025, said IMF Managing Director Kristalina Georgieva on Tuesday. The plan … Read More
WASHINGTON (AP) — U.S. Treasury Secretary Janet Yellen on Monday urged the adoption of a minimum global corporate income tax, an effort to at least partially offset any disadvantages that might arise from the Biden administration’s proposed increase in the … Read More
Pope Francis has officially called for “global governance” and held up the goal of “universal vaccines” in an April 4 letter—a letter in which God is mentioned only once, but vaccines mentioned three times. The letter was sent to the Spring 2021 virtual meeting … Read More
The coronavirus pandemic is slowing global commerce to a crawl, but many of the world’s largest economies are taking extraordinary actions to propel them through the crisis. A pedestrian wearing a protective face mask amid the the coronavirus (COVID-19) outbreak … Read More
© Reuters / Ivan Alvarado Ecuador’s President Lenin Moreno has declared a curfew and sent in troops to force protesters off the streets of the capital Quito. He also agreed to assess the cancellation of fuel subsidies that had triggered … Read More
Venezuela’s state-run economic model wasted the world’s largest oil reserves. The country owes $100 billion to foreign creditors. Its educated, professional class has fled. Economic shock therapy, implemented in regions like the former Soviet bloc, could be its only chance. … Read More
The continued challenges of a changing economic environment are not new to the ASEAN+3 region, which consists of the 10 ASEAN members plus China (including Hong Kong), Japan and Korea. The region has weathered several external shocks in the past … Read More