Category: News Desk

U.S. Home Prices Continue to Rise


American house prices are continuing to rise at a pace described by one economist as “unsustainable.”   Two indices of home prices showed a sharp increase in prices throughout America, with gains beating inflation in just about every major metropolitan area in the country. According to the S&P Case-Shiller Home Price Index, home prices rose 5.1% in the 10-city composite, while the 20-city composite—, which covers a broader swathe of medium-sized cities—saw a 5.7% year-over-year gain.

Cameroon Seeks to Permanently Cripple Boko Haram


Cameroon commenced a joint operation with Nigeria this week against Boko Haram along the northern border, according to the Associated Press. Cameroon has been plagued with numerous attacks as the government combats the terrorist organization in the northern region. The conflict displaced over 7,500 citizens, but the government hosts over 45,000 Nigerians who fled from their homeland.

IMF Suggests Ways for Australia to Make 80-Fold Return on Its Investment


The International Monetary Fund (IMF) has an enticing suggestion for Australia. If it wants a solid way to make an 80-fold return on its investment, it needs to invest $1 billion a year on tax breaks for corporate research and development (R&D). This suggestion was part of a study recently conducted by the IMF.

Iraq May Receive Financial Aid Package in 2016 and Beyond


The Iraqi government could receive $6.4 billion from organizations and donors in 2016, according to Reuters. Iraq has commenced negotiations with the International Monetary Fund (IMF), and authorities could receive $15 billion in assistance over the next three years. Iraq’s economy is nearly in tatters, which is primarily due to warfare and lower oil prices. Negotiations for the $15 billion aid package could end in June.

IMF Pulling Out of Nicaragua, Says Job Done


The International Monetary Fund (IMF) announced on Wednesday that it would close its Nicaraguan office in August. In making the announcement, the group indicated that it believed its job in the Latin American country was done, and that Nicaragua was on the correct path to sustainable growth. 

Federal Reserve Mulls Further Economic Stimulus


Seeing a weak economy and struggling middle class, the Federal Reserve is considering measures to stimulate the economy.  In a speech earlier this week, Janet Yellen, Chair of the Federal Reserve, said the Fed has “considerable scope” for stimulating the economy, hinting that something akin to the Quantitative Easing programs of the late 2000s and early 2010s may be in the cards in the near term.

Zambia Enhances Energy Infrastructure as Economy Falters


The Zambian government announced its intention of adding 420 MW of electricity in 2016 as grid projects contribute to development, according to Reuters. The new energy target entails generating 300 MW from a new coal plant, while the remaining 120 MW will derive from a hydropower facility.

Zambia has suffered a significant water shortage stemming from a drought, hampering output from hydroelectric plants. Officials remain dedicated to hydroelectricity, however, which could add 3,000 MW of energy to the national grid by 2024.

OECD and IMF Actually Want to Cause Inflation


To many, the word “inflation” causes a knee-jerk reaction and a cringe. Most associate inflation with a negative trend for economies and buying power. Some inflation, however, can actually be a good thing, and that is why the Organization for Economic Cooperation and Development (OECD) is calling on world leaders to use demand-side models to actually spur on inflation.

U.S. Home Sales Jump Unexpectedly, Housing Prices Continue to Rise


Home sales and home prices are both rising, with sales showing a reversal of recent weakness that could indicate renewed strength in the American housing market.

Although economists warn that home prices are continued to price out a growing number of Americans, home sales rose 3.5% in February. Some parts of the country, however, are much weaker, as the Northeast saw a 0.2% decline in home sales. The Midwest was the strongest performer, with an 11.4% increase in sales. The South rose 2.1% from January, but actually fell from a year ago.

Kazakhstan Bogged Down By Corruption and Ailing Economy


Kazakh authorities arrested six prominent people tied to a scandal involving the alleged intent to embezzle $1 million from state coffers, according to EurasiaNet. The arrests include an important media head, and critics charge that the government is suppressing free speech and freedom of the press. Kazakhstan’s economy has suffered in part from rampant corruption and inept management.