Abenomics has lifted Japan out of the doldrums, according to the IMF’s latest assessment of the Asian economy. But, policies need to be reinforced to end the lingering deflationary mindset, raise growth, restore fiscal sustainability, and maintain financial stability without undue reliance on yen depreciation. The IMF report found that Abenomics’ three-pronged strategy of aggressive […]
In the first half of 2015 a total of 454,000 counterfeit euro banknotes were withdrawn from circulation –10.5% down on the figure for the second half of 2014, but still higher than in the first half of 2014. The number of counterfeits continues to remain very low in comparison with the increasing number of genuine […]
BEIJING, — World Bank Group President Jim Yong Kim today praised China for its growing role in global development in meetings with Premier Li Keqiang and other senior leaders including Finance Minister Lou Jiwei and Governor Zhou Xiaochuan of the People’s Bank of China. On the first day of his two day visit, President Kim […]
Yesterday, the two month public nomination period to determine who should appear on the next £20 note officially closed. Since 19 May, members of the public have nominated visual artists who they believe helped to shape British thought, innovation, leadership, values and society. In total 29,701 nominations were made, covering 592 eligible visual artists. The […]
A burst of inflation. A crisis in the public finances. Public sector bailouts. Infighting in Europe. Not eight years ago, but eight hundred. That was the economic context for the striking of Magna Carta. To many today, Magna Carta is a document of profound, almost mythical, significance. It is seen as the cornerstone of the […]
Chairman Hensarling, Ranking Member Waters, and members of the Committee, I am pleased to present the Federal Reserve’s semiannual Monetary Policy Report to the Congress. In my remarks today, I will discuss the current economic situation and outlook before turning to monetary policy. Current Economic Situation and Outlook Since my appearance before this Committee in […]
WASHINGTON, —The multilateral development banks (MDBs) and IMF today signaled plans to extend more than $400 billion in financing over the next three years and vowed to work more closely with private and public sector partners to help mobilize the resources needed to meet the historic challenge of achieving the Sustainable Development Goals (SDGs). The […]
WASHINGTON, – The World Bank and IMF are launching a new initiative to help developing countries strengthen their tax systems. Analysis suggests that many lower-income countries have the potential to increase their tax ratios by at least 2–4 percent of GDP, without compromising fairness or growth. Raising additional revenues will allow developing countries to fill […]
The Euro Summit stresses the crucial need to rebuild trust with the Greek authorities as a prerequisite for a possible future agreement on a new ESM programme. In this context, the ownership by the Greek authorities is key, and successful implementation should follow policy commitments. A euro area Member State requesting financial assistance from the […]
The Greece debt crisis took centre stage during July’s plenary session, as Greek Prime Minister Alexis Tsipras came to Strasbourg to discuss the search for solutions. MEPs also adopted their recommendations for Transatlantic Trade and Investment Partnership (TTIP) and approved a reform of the EU’s emissions trading scheme that should boost incentives for green investments. […]
