Category: TRENDS ON THE GLOBAL ECONOMIC FRONT

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TOP TREND, NEW WORLD DISORDER: IMF, WORLD BANK WARN OF INSTABILITY AMID FINANCIAL CRISES
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TOP TREND, NEW WORLD DISORDER: IMF, WORLD BANK WARN OF INSTABILITY AMID FINANCIAL CRISES

“The world is in a dangerous place,” Sri Mulyani Indrawati, Indonesia’s finance minister, said in her closing remarks to the joint meeting of the World Bank and International Monetary Fund (IMF), held in Washington, DC, 10 through 16 October.

TRUSS SACKS FINANCE CHIEF, BACKTRACKS ON MASSIVE TAX CUTS
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TRUSS SACKS FINANCE CHIEF, BACKTRACKS ON MASSIVE TAX CUTS

After barely five weeks on the job, U.K. finance minister Kwasi Kwarteng got the boot from prime minister Liz Truss last Friday and was replaced by Jeremy Hunt, a veteran Conservative party politician and former foreign minister who immediately set about righting his predecessor’s wrongs.

ALMOST HALF OF CANADIAN HOUSEHOLDS NEARING INSOLVENCY
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ALMOST HALF OF CANADIAN HOUSEHOLDS NEARING INSOLVENCY

Forty-six percent of Canadian households report approaching “insolvency,” defined as no more than $200 away from being unable to meet their routine basic financial obligations, according to the quarterly Consumer Debt Index compiled by MNP, a Canadian bankruptcy and insolvency counseling firm.

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