Scientist warns up to 4 quakes over 8.0 possible under ‘current conditions’
The Big Ones
Sunday’s devastating earthquake in Ecuador might just be the beginning, according to a seismologist who says that current conditions in the Pacific Rim…
RT.COM
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IMF Fiscal Monitor (April 2016)
International Monetary Fund (IMF), in its recent publication of Fiscal Monitor – April 2016, has reflected that the weakening of the global recovery and concerns about the ability of policymakers to provide an adequate and swift policy response have clouded economic prospects. As a result, risks to the global economy and financial systems have substantially increased. In this difficult environment, fiscal policies must be prepared to respond promptly to support growth and reduce vulnerabilities.
Fiscal positions have worsened significantly since the April 2015 Fiscal Monitor, with public debt ratios being revised upward in most countries. The revisions have been the largest in emerging market and middle-income economies. Also, advanced economies remain vulnerable in a context of high public debt (greater than 100 percent of GDP, on average), low inflation, and sluggish growth.
Comprehensive policy response needed to mitigate rising Fiscal risks
Fiscal risks are rising almost everywhere. In advanced economies, the risk of persistently weak growth and low inflation makes a reduction in debt ratios even more challenging. In emerging market and developing economies, tighter and more volatile global financial conditions could significantly increase the interest bill at a time when gross financing needs are rising. In this environment of high risks, a comprehensive policy response is urgently needed to improve growth prospects and build resilience.
Supporting Growth and Securing Long-Term Debt Sustainability
With policy rates near zero in many advanced economies, fiscal policy should stand ready to support demand and bolster monetary policy where needed and where fiscal space is available. The focus should be on fiscal measures that boost both short- and medium-term growth (such as infrastructure investment) and policy actions that support the implementation of structural reforms.
In other emerging market and developing economies, key challenges are to create budgetary room to respond to rising demand for public services, improve the provision of health and education, and develop infrastructure. These objectives can be achieved by implementing pro-growth structural reforms, better mobilizing revenue, and improving expenditure efficiency. In some oil importers with large fuel subsidies, windfall gains from lower oil prices could be used to finance growth-enhancing reforms.
Reducing Vulnerabilities
The global financial crisis has exposed limitations in current fiscal risk management frameworks, which fail to effectively capture the nature of risks and do not offer specific measures to mitigate them. Countries should develop risk management strategies to reduce their exposure to risks and create adequate buffers to absorb them.
Fiscal Policies for Innovation and Growth
Fiscal policy is a potent instrument for productivity growth through innovation with three channels of innovation: research and development (R&D), technology transfers, and entrepreneurship. The key policy messages are the following:
· Governments in many countries should do more to promote R&D
· In emerging market and developing economies, governments should invest in education, infrastructure, and institutions to facilitate imitation and absorption of technologies from advanced economies.
· Fiscal policies to foster innovative entrepreneurship should be targeted to new firms rather than small firms.
In sum, fiscal policies can contribute significantly to innovation. With appropriate design, they can generate a meaningful impact on productivity growth.
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We know that the Monday after a long weekend is dreadful but we are here at Sembawang Shopping Centre to brighten up your blue Monday! See you here!
Mithali Raj: Because I Am A Girl, Who Cares?’
Because I Am A Girl, Who Cares?
Another Indian does it: After Yuvraj Singh Indian Woman cricketer Mithali Raj hits 6 balls 6 sixes in a match with New Zealand. Legendary West Indian Sir Garfield Sobers, Ravi Shastri and Yuvi have done it so far. Congratulations Mithali!
Iana Matei has run a shelter for victims of sexual exploitation
Iana Matei has run a shelter for victims of sexual exploitation for the past 18 years.
Psychologist Iana Matei rescues girls forced into prostitution and gives them shelter, counselling and an education.
ALJAZEERA.COM
EAM Sushma Swaraj held talks with Russian Foreign Minister Sergey Lavrov in Moscow.
Ministry of External Affairs, India
1 hr ·
A bilateral with the gracious host of the RIC Conference.
EAM Sushma Swaraj held talks with Russian Foreign Minister Sergey Lavrov in Moscow.
