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Pensioner Anne Snyman leaves Mitchells Plain's Town Centre after collecting her pension payout on 30 March 2020. She said she stood in line for six hours. Picture: Kaylynn Palm/EWN

Global economic crisis

UN report calls for temporary basic income to help world’s poorest amid COVID-19

By Reuters

The report suggests that one way countries could pay for a temporary basic income would be repurposing billions of dollars that would have been spent servicing...

  • Nigeria's commercial capital of Lagos. Picture: AFP.

    Africa poses critical challenge for World Bank, IMF

    And the problem will only accelerate as the population on the continent grows in the coming decades.

    1118 days ago
  • FILE: World Bank Headquarters, Washington DC. Picture: World Bank

    IMF/World Bank: 75 years as the world's financial firefighters

    The IMF and World Bank were created 22 July, 1944 in the shadow of World War II to help rebuild Europe and later Japan, and to try to head off the kind of economic strife that had led to the war.

    1119 days ago
  • Stock market indicators

    10 predictions for the global economy in 2019

    One major risk in the coming year is the sharp drop-off in world trade growth, which fell from over 5% at the beginning of 2018 to nearly zero at the end.

    1316 days ago
  • Wall Street sign near the New York Stock Exchange building in New York. Picture: AFP.

    OECD warns of global slowdown

    The organisation, which groups the top developed economies, said it had trimmed its growth forecast for 2019 to 3.5% from the previous 3.7%.

    1360 days ago
  • A man walks past the headquarters of the International Monetary Fund (IMF) on 30 June 2015 in Washington, DC. Picture: AFP.

    IMF warns trade friction, market turmoil to hurt Asian growth

    The IMF maintained its forecast that Asia’s economy will expand by 5.6% this year but cut its projection for next year to 5.4%, down by 0.2 point from April.

    1401 days ago
  • Picture: AFP

    10 years after financial crisis, the global economy is stronger but vulnerable

    Trade tensions have escalated, policy uncertainties have increased in a number of countries, and some emerging market economies are facing financial market pressures.

    1402 days ago
  • A man walks past the headquarters of the International Monetary Fund (IMF) on 30 June 2015 in Washington, DC. Picture: AFP.

    Trade war would slow but not stop global growth: IMF

    The IMF's baseline forecast for the global economy is 3.7% growth in 2018, 2019 and 2020.

    1404 days ago
  • Picture: Pexels.

    The wider impacts of the financial crisis 10 years on

    There are also signs that the crisis may have had lasting effects on potential growth through its impact on fertility rates and migration, as well as on income inequality.

    1404 days ago
  • Alibaba Group Founder and Executive Chairman, China's Jack Ma speaks during a panel session on the second day of the World Economic Forum, on January 18, 2017 in Davos. Picture: AFP.

    We're underestimating China's economic power. Here's why

    The Chinese equity stock market — as represented by Shanghai stock market — actually peaked in 2015.

    1409 days ago
  • FILE: US President Donald Trump. Picture: AFP

    [OPINION] Trump’s comment about SA is a reminder that race still matters

    US President Donald Trump chose last week to pronounce on land reform in South Africa.

    1444 days ago
  • Statistics generic. Picture: Freeimages.

    One in three chance of South Africa recession this year

    Around 30 economists polled expect Africa’s second-largest economy to grow by 1.4% this year and by 1.9% next, slightly lower than the median view last month.

    1450 days ago
  • Credit rating agency Standard & Poor's. Picture: AFP

    What role did credit ratings play in the 2008 crisis?

    A common narrative for the start of the financial crisis suggests that credit agencies downplayed the riskiness of RMBS, drawing in lenders who did not appreciate their intrinsic risk.

    1455 days ago
  • Malaysian prime minister Mahathir Mohamad celebrates with other leaders of his coalition during a press conference in Kuala Lumpur on 10 May 2018. Picture: AFP.

    Malaysian PM Mahathir says growing countries need different trade protections

    Mahathir said the ideal would be a broad trade pact such as the East Asian Economic Caucus (EAEC) he proposed during his previous administration.

    1524 days ago
  • A man walks past the headquarters of the International Monetary Fund (IMF) on 30 June 2015 in Washington, DC. Picture: AFP.

    IMF's Furusawa: global economy strengthening on investment, trade

    The current upswing provides an ideal opportunity for reforms to boost potential output, build resilience, and ensure the benefits of growth are shared more widely.

    1586 days ago
  • Stock market indicators

    Ten years after crash, Americans still have not fallen back in love with stocks

    Americans have yet to embrace the US stock market with the same fervour as before, holding fewer individual stocks and putting less money into equities overall.

    1608 days ago
  • FILE: The European Union Commission headquarters in Brussels.  Picture: AFP

    The global economy in 2018, according to a Nobel laureate

    In the developed world, 2017 will likely be recalled as a period of stark contrast, with many economies experiencing growth acceleration, alongside political fragmentation.

    1713 days ago
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