Venezuela hyperinflation hits 10 million percent. ‘Shock therapy’ may be only chance to undo the economic damage

posted in: News, World News

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

Gold is making a comeback to the world financial system

posted in: News, World News

LAST year, 22 central banks, situated largely to the east of Germany, bought the largest amount of gold since 1967 – the year that the London Gold Pool collapsed. The gold repatriations by many European countries of the last few … Read More

Central America Encourages Migrants to Leave—And Then Rakes in U.S. Dollars

The three Northern Triangle nations have done little to provide for the poor. Central American refugees ride a cargo truck in Mexico. Photographer: Alejandro Cegarra/Bloomberg Honduras, Guatemala and El Salvador are, by all accounts, countries ravaged by gang violence, drug trafficking and … Read More

No new tariffs: Trump’s Mexico reprieve is good news for world economy

Central bank chiefs and finance ministers gathered in Fukuoka, Japan, for meetings of the Group of 20 were quick to welcome Trump’s move. President Donald Trump’s decision to drop plans for new tariffs on Mexico is rare good news for … Read More

World Refugee Council Calls on Nations to Use Frozen Funds to Help the Displaced

A Syrian refugee woman carries wood to be used in supporting her family’s tent from an upcoming storm in Barelias, Lebanon, on Jan. 13, 2019.  Marwan Naanmani—picture alliance/Getty Image (UNITED NATIONS) — The World Refugee Council called Thursday for up … Read More

Poverty in Iraq forces refugees back to camps

Poverty and a lack of services are preventing rebuilding in Mosul, forcing thousands to choose the lesser of two evils and return to the camps. Over 2 million have yet to go back home. Judit Neurink reports from Mosul. “My … Read More

Lassa fever outbreak an “Eligible Event” for pandemic cat bond: World Bank

The World Bank has confirmed that it believes the recent outbreak of Lassa fever in Nigeria is an “Eligible Event” under the terms of the Class B pandemic swaps and pandemic catastrophe bonds that were issued to support the financing … Read More

‘Future of the rest of the world depends on Turkey’

    ISTANBUL, TURKEY – OCTOBER 19 : Former Prime Minister of Spain Jose Luis Rodriguez Zapatero makes a speech during the “Special Session” panel within TRT World Forum in Istanbul, Turkey on October 19, 2017. (Emrah Yorulmaz – Anadolu Agency) … Read More