Introduction: The U.S. Treasury Chief, Janet Yellen, has called on Congress to raise the federal borrowing cap to avoid a looming economic and financial crisis. Yellen has warned that the United States risks defaulting on its debts if the borrowing cap is not increased, which could have severe consequences for.
In recent weeks, US central bankers have been discussing the future of interest rate hikes as they work to combat inflation. While some feel that the Federal Reserve has made progress in getting interest rates closer to where they need to be, others suggest that further policy tightening may be.
Ghana is facing its worst economic crisis in a generation, with soaring inflation, a plunging currency, and a massive debt burden. The country has defaulted on most of its external debt in December 2022 and restructured its domestic debt in February 2023. It is now seeking a $3 billion loan.
Argentina is facing a severe inflation crisis, with the annual rate soaring to 109% in April 2021, according to the country’s statistics agency. This means that the prices of many consumer goods have more than doubled since last year, making it harder for people to afford basic necessities and eroding.
US Debt Ceiling Standoff Poses a Serious trouble to Global Economy, Warns British Finance Minister Meta Description The US debt ceiling standoff is raising enterprises among the G7 finance chiefs about the global frugality. British finance minister Jeremy Hunt warns of ruinous consequences for the US GDP and calls for.
Treasury Secretary Janet Yellen said she would meet with senior Wall Street bankers next week to discuss the federal debt ceiling, which could be reached as early as June 1. She also called on them to voice their concerns about the potential economic fallout of a default. The federal debt.
China’s economy has been one of the fastest to recover from the Covid-19 pandemic, but it is not out of the woods yet. The latest data show that China’s economic recovery is losing steam, with new bank loans tumbling in April, consumer prices rising at the slowest pace in more.
The Philippines is one of the fastest-growing economies in Southeast Asia, but it faces some challenges in maintaining its momentum. The International Monetary Fund (IMF) has kept its growth forecast for the country at 6.0% for 2023, but warned of high inflation and external risks that could derail the outlook..
The US debt ceiling is a legal limit on how much the federal government can borrow to pay its bills. It was created in 1917 and has been raised or suspended 98 times since then. The current debt ceiling is $28.4 trillion and was reached on August 1, 2021. If.
Hong Kong’s economy has shown signs of recovery in the first quarter of 2021, after four consecutive quarters of contraction due to the COVID-19 pandemic and social unrest. According to the government data released on Friday, the economy grew by 2.7% year-on-year in the first three months of the year,.
China has a long tradition of saving for various reasons, such as precautionary motives, cultural norms, demographic factors, and limited social welfare. According to the People’s Bank of China (PBOC), China’s household savings rate was 37.1% in 2021, much higher than the global average of 25.4%. China’s savings rate increased.
Tunisia is widely regarded as the only success story of the Arab Spring, a wave of popular uprisings that swept across the Middle East and North Africa in 2011. However, the country has not been able to translate its democratic transition into economic prosperity. Tunisia has been suffering from low.