Tag Archives: inflation

Beijing, China | Xinhua | The year of 2022 saw a world in turmoil: the United States fueled one conflict after another, the Ukraine crisis dragged on, the COVID-19 pandemic lingered on with Omicron emerging as the new strain. Inflation, food crisis, energy security, a sluggish world economic recovery, a worrisome …

London, UK | Xinhua | United Kingdom (UK) Prime Minister Rishi Sunak pledged to halve inflation and boost the country’s economy in his first major speech in 2023 on Wednesday. Sunak made five pledges. These are: to halve inflation; to grow the economy; to reduce national debt; to cut hospital waiting …

Washington, U.S. | Xinhua | U.S. President Joe Biden on Thursday signed a 1.7 trillion-U.S.-dollar spending bill for the federal government. The legislation will keep the federal government operating through the end of the federal budget year in September 2023 and avoid a partial shutdown before the end of 2022. The …

How government’s recent borrowing and spending binge has put us on the highway to Ghana THE LAST WORD | Andrew M. Mwenda | Ghana is in a serious economic crisis. In November, its inflation rate was 50.3%. On December 19, it all but declared bankruptcy. In a press statement, its government announced …

Kampala, Uganda | THE INDEPENDENT | The International Monetary Fund (IMF) has reached an agreement with the Ugandan government for a release of about 240 million US Dollars (873.8 billion Shillings) in financing to the country. The agreement which is subject to approval by the IMF Board, is part of the …

Russia has made it clear that it will not export oil to countries that enforce price caps Rome, Italy | Xinhua | A price cap on Russian seaborne crude recently agreed by the European Union (EU), the Group of Seven (G7) nations and Australia came into effect on Monday. Whether the …

Geneva, Switzerland | Xinhua | The severe inflationary crisis combined with a global slowdown in economic growth are causing a striking fall in real monthly wages in many countries, reducing the purchasing power of the middle classes and hitting low-income households particularly hard, the International Labour Organization (ILO) said on Wednesday. …

Beijing, China | Xinhua | The U.S. Federal Reserve announced earlier this month the fourth consecutive three-quarter point interest rate hike to cool record levels of inflation, another aggressive move leaving economists fearing a recession ahead. The Fed has committed to hawkish rate hikes to fight inflation while standing by as …

Washington, U.S. | Xinhua | U.S. President Joe Biden said on Wednesday that 2022 midterm voters are “frustrated,” as control of the next Congress is still up in the air. “The voters were also clear that they’re still frustrated,” Biden told reporters at the White House. “I understand it’s been a …

San Fransisico, U.S. | Xinhua | Meta Platforms Inc., the parent company of Facebook, said on Wednesday that it would lay off 13 percent of its staff, or more than 11,000 employees. The mass layoffs result from a sharp reduction of the company’s value amid a crumbling advertising market and decades-high …