‘Trickle down’ economics — the oldest myth from the oldest president

“I am sick and tired of trickle-down economics,” says President Joe Biden. “It has never worked.” Of course it has never worked. It has never worked because it has never been tried or even proposed. Trickle-down economics is a myth — a left-wing parody of what conservative politicians are supposed to believe. The phrase was … Read more

What does government support for fossil fuel subsidies cost our economy and environment?

What would the world look like if all the government subsidies propping up fossil fuel companies suddenly came to an end? For Ian Parry, it’s an easy answer. “It would certainly help level the playing field between fossil fuel technologies, which have large environmental costs, and renewable technologies which do not,” he tells ABC RN’s … Read more

Bank of England to buy UK bonds in an attempt to avert financial risk as markets panic

The Bank of England has moved to halt a slide in British government bonds that posed a “material risk to UK financial stability” after political leaders’ plans to slash taxes and increase borrowing spooked investors and sent the pound tumbling. Key points: The Bank of England will buy government bonds from Wednesday until mid-October in … Read more

Ghana negotiations with IMF to be fast-tracked : finance minister

ACCRA, Sept 28 (Reuters) – Ghana’s negotiations with the International Monetary Fund over a rescue package will be fast-tracked, the country’s Finance Minister Ken Ofori-Atta said on Wednesday. Ghana began talks with the Fund on Monday for an IMF-supported lending program in a bid to reduce economic hardship that spurred street protests. “Negotiations will be … Read more

There is a risk that UK ends up in a “doom loop” – economist Julian Jessop.

LONDON, Sept 28 (Reuters) – Economist Julian Jessop warned on Wednesday that Britain’s economy could end up in a “doom loop” of falling currency and rising interest rates, but stressed that he believed recent market moves had been an over reaction. Jessop provided informal advice to now Prime Minister Liz Truss during her leadership campaign … Read more

Pakistan finance minister known for propping up rupee in earlier stints

ISLAMABAD, Sept 28 (Reuters) – Ishaq Dar, Pakistan’s new finance minister, has strongly favored intervention in currency markets in three previous stints in the job, but faces a nation in economic crisis this time and the conditions of an International Monetary Fund (IMF ) program. Dar, a seasoned politician and chartered accountant, was sworn in … Read more

Pakistan swears in Ishaq Dar as finance minister

ISLAMABAD, Sept 28 (Reuters) – Seasoned politician and chartered accountant Ishaq Dar took the oath as Pakistan’s new finance minister on Wednesday, the prime minister’s office said in a statement. It is Dar’s fourth stint as finance minister, and he will have to deal with some of the worst economic turmoil the South Asian nation … Read more

IMF urges caution as oil-rich Guyana’s economic growth nears 60%

Sept 27 (Reuters) – Guyana’s economic growth could reach close to 60% this year, the International Monetary Fund said in a statement on Tuesday, urging cautious policies even as the tiny South American nation benefits from surging oil production. “Overall real GDP growth rate is projected to be 57.8% in 2022,” the IMF said in … Read more

Regional financial integration is unfinished business

Author: Yu Yongding, CASS Twenty-five years ago, the Asian Financial Crisis set back the economic progress made by East Asian countries by years, if not decades. The crisis was triggered by the crash of the Thai baht, but it quickly spread across East Asia. All of the economies in the region, regardless of their economic … Read more

After 600 cold-emails, 80 calls, this SRCC alumni landed a job at the World Bank

Life is full of surprises for those who always work hard and never quit. Vatsal Nahata, an SRCC graduate has proven it. Nahata’s inspiring journey began during the Covid-19 pandemic in 2020 he was about to finish his graduation at US Yale University. At that time, the recession was looming, and companies were on a … Read more