News Desk

Mongolia’s Opposition Parties Fail to Reach Consensus as June Elections Draw Near

Date: 26 April 2016

The Mongolian People’s Revolutionary Party (MPRP) and the Mongolian People’s Party (MPP) severed a political alliance as negotiations over seating arrangements fell through, according to Channel NewsAsia. MPP aims to unite against incumbent Mongolian Democratic Party (MDP), as Prime Minister Chimed Saikhanbileg struggles to jumpstart an economy suffering from lower commodity prices and diminished foreign investment. According to recent polls, MPP is more popular than MDP, while MPRP takes third place.

Read more

Switzerland Joins Chinese Alternative to World Bank

Date: 26 April 2016

The Chinese have been pushing hard to gain traction with their alternative to the World Bank, and the efforts appear to be paying dividends. Switzerland has become the 37th nation to join the newly created Asian Infrastructure Investment Bank (AIIB) as a “founding member.”

Read more

World Bank and IMF Team Up on Issue of Carbon Pricing

Date: 25 April 2016

The World Bank and International Monetary Fund (IMF) have teamed up to address the issue of climate change. Their latest plan involves using economic leverage in harmony with the technical assistance of private organizations to effect changes that the United Nations simply cannot achieve on its own.

Read more

The Week in Review: Sluggish Home Starts, Higher Existing Home Sales

Date: 22 April 2016

Mixed data on housing surfaced this week as existing home sales saw a surprising upstart even as weak new home buying caused fear about homebuilders’ long-term profitability. Existing home sales rose by 5.1% in March, according to a new study by the National Association of Realtor (NAR). The NAR said higher activity in the Northeast and Midwest, historically weak regions after the 2009 Global Financial Crisis, helped drive overall sales higher.

Read more

Colombian President Continues Fight against Drug Cartels

Date: 21 April 2016

Colombian President Juan Manuel Santos spoke at a UN General Assembly meeting this week regarding international drug policy and his country’s fight against drug cartels, according to AFP. He outlined various proposals to strengthen campaign efforts, such as treating drug users instead imprisoning them and building a stronger international coalition against drug kingpins. The president hopes that a potential peace deal with FARC rebels would provide the perfect opportunity to cripple the drug trade in Colombia.

Read more

Bosnia Having Trouble Obtaining Much Needed IMF Financing

Date: 21 April 2016

Bosnia is struggling with growing budget deficit problems and is in desperate need of a new loan from the International Monetary Fund (IMF). Therefore, Bosnia's government is trying to meet the last few requirements necessary to access a new IMF program that could get the nation about 500 million euros. If it fails, Bosnia faces a serious liquidity crisis.

Read more

UK Government Study: Brexit to Cost Taxpayers Thousands

Date: 21 April 2016

A new study by the UK government argues families in the country will pay £4,300 ($6,185) more in income taxes if the country leaves the EU. After an aggressive charm offensive to urge British voters to vote to stay in the EU, the country’s Treasury released a study saying that Brits would be “worse off by £4,300 a year per household if Britain votes to leave European Union,” according to the Treasury.

Read more

Malaysia Defaults on Payment Deal: Trouble Abounds for Prime Minister

Date: 20 April 2016

1Malaysia Development Berhad (1MDB), a strategic development company that the government of Malaysia owns, defaulted on a $1.1 billion loan from a United Arab Emirates wealth fund. Prime Minister Najib Razak founded 1MDB and has faced a string of corruption allegations surrounding the firm, and critics have called for his resignation. 1MDB is a developmental firm designed to commence infrastructure projects and attract foreign direct investment.

Read more

UN, IMF, World Bank, and OECD Join Forces in Wake of Panama Papers

Date: 20 April 2016

Several of the world’s leading international economic organizations announced on Tuesday that they would join forces to confront the various tax issues illuminated by the recent Panama Papers scandal. These organizations include the United Nations (UN), the International Monetary Fund (IMF), and the World Bank, the Organization for Economic Cooperation and Development (OECD), among others.

Read more

Recession Signals Highlighted as U.S. GDP Growth Stagnates

Date: 20 April 2016

As the Federal Reserve continues to see weakening GDP growth, a new report from Bloomberg News suggests a hidden recession signal for the United States. The Atlanta Federal Reserve’s GDPNow calculation, which uses large data sets to make real time GDP predictions, sees just 0.3% GDP growth in the first quarter of 2016, far below many analysts and economists’ expectations.

Read more

EU and Canada Struggling to Reach Trade Deal

Date: 19 April 2016

Although international economic treaty news has lately been peppered with more stories about better-known trade deals like the Trans-Pacific Partnership (TPP), there is another treaty that has been generating just as much discussion and, in some cases, animosity.

Read more

Homebuilders See No Boost as Fed Caution Mounts

Date: 19 April 2016

Further worries about the economy are coming from the Federal Reserve as homebuilders’ expectations drop. According to a new study by the National Association of Homebuilders, firms see little signs of renewed strength in demand for new homes as prices continue to skyrocket and wages stagnate.

Read more

Mozambique Denies IMF Allegations of Loan Concealment

Date: 18 April 2016

Mozambique objected to the International Monetary Fund’s (IMF’s) accusation that officials concealed additional loans from Russia VTB Bank and Credit Suisse for defense spending, according to Reuters. The IMF cancelled a trip to Mozambique on Friday in wake of the alleged undeclared loans, but Finance Minister, Adriano Maleiane, stated that the accusation is misguided and stems from confusion. Mozambique borrowed $286 million from the IMF to help the country through a turbulent world economy.

Read more

Donations Stalling: World Bank Urges Follow Through on Gaza Aid

Date: 18 April 2016

Gaza has struggled socially and economically almost from its inception, but this has been particularly true following Israel’s war against the region in 2014. Following the devastation, a number of Arab nations led the way in pledging aid to the region for reconstruction. Qatar, the United Arab Emirates (UAE), and many other Arab nations appeared poised to assist the region without the need for intervention by organizations like the World Bank or International Monetary Fund (IMF).

Read more

Interest Rate Update: Mortgages, Junk Bonds Reach Lows

Date: 18 April 2016

Interest rates for home loans, junk bonds, and several other financial products have fallen while the Federal Reserve hints at expanding the monetary base further. Even as several economic indicators show a slight resurgence, mortgages declined alongside Treasuries due, in part, to a slump in home buying.

Read more