Category: News Desk

OECD Tells Canada to Cool Off Housing Markets


The Organization for Economic Cooperation and Development (OECD) fears that Canadian home sales may be ramping up to a bubble. According to the OECD, the Canadian government needs to cool off the overheating housing markets in Toronto and Vancouver.

Otherwise, external economic hardships coupled with favorable buying conditions could cause real estate prices to increase disproportionately, create a bubble, and then devastate the Canadian economy when it bursts.

France Joins European Good Growth Club


French economic growth impressed economists, who were expecting weakness alongside poor growth in America.  France’s economy, however, saw a 0.6% growth in GDP in the first quarter, according to new a report by France’s National Institute of Statistics and Economic Studies (INSEE). The strong growth was partly attributed to improved trade thanks to a stronger U.S. dollar, which has made French exports more attractive to consumers at home and abroad.

Eritrea Official Invokes International Conspiracy to Explain Mass Exodus


Eritrean Foreign Minister Osman Saleh claimed that the international community is responsible for enticing tens of thousands of Eritreans out of the country through asylum offers. He conceded that Eritrea’s poor economy is the primary reason behind the migration, but he also believes that world powers aim to destabilize Eritrea. The East African country is one of the poorest on the planet.

Trump/Brexit Potential Prompt Mexico to Extend Line of Credit with IMF


Mexico surprised many analysts last week when it opted to increase financing it already had with the International Monetary Fund (IMF), increasing its loans by one third to $88 billion, and extending its term by another two years. The move suggests to many analysts that Mexico is feeling jittery about the prospects of a Trump administration in the United States’ White House and the possible implications of Britain’s possible exit from the European Union.

June Interest Rate Preview: Uncertainty Mounts


Investors are reconsidering earlier expectations that the Federal Reserve will increase interest rates in June.  After several speeches from regional Fed presidents strongly suggesting a rate hike was imminent, Federal Reserve president Janet Yellen struck a more conservative tone late last week, hinting that the Fed might wait a little longer before raising interest rates.

Nigerian President Will Talk with Delta Leaders: Oil Pipeline Attacks Persist


President Muhammadu Buhari intends to meet with representatives in the oil-bearing Niger Delta as militants destroy pipelines, according to International Business Times. People in the region have long complained that foreign oil companies pollute the environment and offer little economic benefits to locals.

The Niger Delta comprises of over 7.0% of Nigeria’s landmass, with many ethnic groups inhabiting the region.

IMF: Long-Term Prediction, Greece will Struggle for Decades


Greece is currently suffering through one of the direst economic crises of any industrialized nation in history. Now, the nation finds itself at the heart of a policy struggle between Eurozone lenders and the International Monetary Fund (IMF) over debt reductions prior to additional bailout funding. This has led to the IMF’s revision of its long-term projections for the embattled nation.

More Warnings on Britain Exiting the EU


More experts are weighing in on Britain’s upcoming referendum on its membership in the EU.   A flurry of warnings from bankers, economists, politicians, and experts have bombarded Brits in recent months, with daily discussions at the BBC, The Times, the Telegraph, and other major British publications urging British citizens to vote to remain in the EU.

Argentina Intends to Bestow Amnesty on Undeclared Assets


President Mauricio Macri announced that Argentines holding undeclared assets or cash in overseas accounts could bring it back to Argentina without legal consequences, according to The Wall Street Journal. The government aims to tax offshore money to fund pensions and other programs. Analysts estimate that over $500 billion in Argentine assets remain in overseas accounts, and incoming funds would be taxed anywhere from 0% to 15%.

U.S.: World Bank’s Decision to Re-Enter Cambodia Questionable


The United States is accusing the World Bank of failing to learn from past mistakes and asserting that Cambodia is violating human rights. The World Bank’s Board of Executive Directors voted to approve four projects in Cambodia and to loan the nation $130 million in support of those projects.