Gil B. Manzon Jr., Boston College “If poor people knew how rich rich people are, there would be riots in the streets.” Actor and comedian Chris Rock made this astute statement during a 2014 interview with New York magazine, referring to the yawning gap between rich and poor. In so doing,...
While the poorest countries of the world showed an economic growth on five percent in 2017, and are expected grow by 5.4 per cent in 2018, this falls short of the seven per cent growth target envisaged by the Sustainable Development Goals set out by the World Nations, shows...
The International Monetary Fund said that it has delayed disbursement of funds to Sierra Leone due to the West African country’s failure to improve revenue collection. It cited "a weak budget revenue outlook, where measures that were to be taken under the programme to increase revenue did not yield” as the...
Unable to pay their salaries, Namibia has ordered thousands of its soldiers for forced leaves starting from next month, and those who are on leave not to report on duty. Reeling under an economic crisis, the South West African country had its defence ministry's budget slashed to control the expenditure. "You...
Mexico earned $525 million by selling off 19 offshore oil and gas blocks in the Gulf of Mexico, which is estimated to contain 2.8 billion barrels of oil, on Wednesday. While the British-Dutch giant Royal Dutch Shell won nine blocks, Malaysia's PC Carigali won seven blocks, and Mexican state-owned Pemex won...
Finance minister of India Arun Jaitley has presented the Union Budget 2018 -- the current government's last full budget before the 2019 Lok Sabha elections. As he expects the economy to grow by 7.2% - 7.5% in the second half of 2017-18 and to be on the path to 8%...
Switzerland, the United States and the Cayman Islands top a list that ranks world nations on the basis of financial secrecy, a major reason from tax evasion and corruption, and a key facilitator of financial crimes. According to the Financial Secrecy Index by Tax Justice Network, an advocacy group against...
The newly sworn-in president of Liberia, George Weah, has indicated that fixing the economy would be his major priority, as he also announced a 25% cut in his salary. “In view of the very rapidly deteriorating situation of the economy, I am informing you today, with immediate effect, that I...
Estimating a 7-7.5% growth rate for the economy in 2018-19, the Economic Survey 2018 of India has said that the country has witnessed a 50% increase in the number of indirect taxpayers. It said that there are 9.8 million unique GST registrants, which marks an increase of 3.4 million from...
With more than half of the citizens living in cities, and over 133,000 people are moving to cities each year, Haiti is the third most urbanized country in Latin America and the Caribbean, just after Trinidad and Tobago, and Mexico, says a new report by the World Bank. This is...

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