Introduction Venezuela, a country facing numerous economic challenges, is reportedly considering the introduction of new regulations for courier shipments of vital products such as food, medicine, and other goods. These proposed measures aim to bolster tax revenue, according to government and private sector sources. The potential implementation of these regulations
Pakistan’s Prime Minister, Shehbaz Sharif, remains optimistic about the approval of a crucial $3 billion short-term bailout from the International Monetary Fund (IMF). He expressed his hope on Wednesday that the multilateral lender’s board, set to convene on July 12, would grant approval for the much-needed financial assistance. This development
Ireland’s government has unveiled its Summer Economic Statement, outlining its intention to raise core public expenditure by 6.1% in the coming year. The proposed budget package, amounting to €6.4 billion ($6.98 billion), marks a departure from the previous growth rate policy of aligning expenditure growth with the country’s economic growth
Food inflation in France has entered a promising phase of alleviation, according to statements made by Finance Minister Bruno Le Maire on Wednesday. Le Maire informed BFM television that the trend is expected to gain momentum in the upcoming weeks, providing relief to consumers who have been grappling with soaring
Introduction Singapore’s central bank, the Monetary Authority of Singapore (MAS), has issued a warning about the weak near-term growth prospects for one of Asia’s premier financial hubs. In its annual review, MAS Managing Director Ravi Menon emphasized that the fight against rising prices was far from over, despite the bank’s
Introduction Sri Lanka, a year after witnessing a severe economic meltdown and a dramatic ouster of its president due to public discontent, has surprised many as its streets are now calm, fuel stations free of serpentine queues, and power cuts a thing of the past. The central bank’s optimistic forecast
Abdoulaye Diallo, a 25-year-old motorbike taxi driver in Keur Mbaye Fall, a suburb of Senegal’s capital Dakar, is grappling with the consequences of surging fuel prices. With the government gradually lifting fuel subsidies since January, Diallo now faces the burden of paying over 50% more to fill up his “thiak-thiak”
The Bank of England (BoE) has issued a cautionary statement regarding banks potentially underestimating their exposure to private equity and commodity markets. This warning comes at a crucial time when rising interest rates pose a threat to market liquidity. Nathanael Benjamin, the BoE’s executive director for authorisations and international banks,
Introduction China’s leadership has appointed financial technocrat Pan Gongsheng to a top political post at the People’s Bank of China (PBOC), signaling growing concerns over systemic risks within the country’s sprawling financial sector. Pan, who rose to prominence for his efforts in combating capital outflows, is set to succeed Governor
Malaysia’s Central Bank Holds Key Interest Rate Steady at 3.00% Malaysia’s central bank, Bank Negara Malaysia (BNM), has announced its decision to leave the country’s key interest rate at 3.00%, according to a recent Reuters poll. This move signifies the conclusion of BNM’s modest tightening cycle as inflationary pressures begin
Introduction Turkey’s central bank has revealed its intention to persist with the recent monetary policy U-turn, initiated by a substantial rate hike after the elections last month. The central bank emphasized that this approach will be upheld until a significant improvement in the country’s inflation outlook is achieved. Alongside this
Investors and analysts are closely monitoring the latest market projections, as anticipation builds for upcoming rate hikes by central banks worldwide. The Federal Reserve is expected to raise rates by 25 basis points, potentially in July, followed by another hike with a 30% likelihood by November. Additionally, the European Central