Ghana’s economic crisis was caused by government borrowing – the central bank did the best it could: economist: Ghana is going through its worst economic crisis in a generation. The past two years have seen record high inflation in the country. Ghana’s central bank (the Bank of Ghana) has been criticised in some quarters for …
African wild dogs will soon have their own sperm bank – how artificial breeding will help them survive: Scientists from the Institute for Breeding Rare and Endangered African Mammals have been working in southern Africa for over 15 years to protect endangered African wild dogs (Lycaon pictus). They’ve now decided to freeze sperm from as …
Projects funded by the World Bank Group’s private sector arm fuel armed conflict – it’s time to reform the system: To what extent does private investment help developing countries to reduce conflict and violence and to achieve the Sustainable Development Goals? This is a hotly debated issue. Most international institutions such as the World Bank …
World Bank suspension of Uganda funds over anti-homosexuality law: what this says about the struggle over funds and sovereignty: The World Bank issued a statement on 8 August 2023, announcing that it had effectively suspended all new public financing to Uganda over concerns with the country’s anti-homosexuality law, which “fundamentally contradicts the World Bank Group’s …
The World Bank and the IMF need to keep reforming to become fit for purpose: The World Bank and the International Monetary Fund are being challenged to make substantial reforms so that they become fit for purpose in the 21st century. Some suggest that they cannot be sufficiently reformed and should be shut down. Others, …
Bank CEOs set the tone from the top when it comes to risky behaviour — new research: KeyStock/Shutterstock Metro Bank positioned itself as “a fresh start to banking” when it launched in the wake of the 2008 global financial crisis. It was set up in 2010 as a challenger to the “big five” banks dominating …
Cautious welcome: World Bank and IMF return to Africa, but questions remain: The annual meetings of the World Bank and International Monetary Fund (IMF) are due to take place in Marrakech, Morocco, in mid-October. The city and country are still reeling from a devastating earthquake in early September. Hosting these meetings on the African continent …
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Inflation: I’ve been analysing the Bank of England’s forecast over the past two years – here’s how they got it wrong: The Bank of England (BoE) has been strongly criticised for failing to predict the surge in inflation. Had it done so, it could have reacted more quickly and prevented inflation from rising as high …
World Bank freezes loans to Uganda because of anti-gay laws. But it doesn’t mean it’s becoming a human rights watchdog: A gay pride rally in Entebbe, Uganda in 2014 before a tough anti-homosexuality law was passed. ISAAC KASAMANI/AFP via Getty Images Many people may be tempted to view the World Bank’s recent announcement that it …
How the Bank of England’s interest rate hikes are filtering through to your finances: The Bank of England, London. Claudio Divizia/Shutterstock The Bank of England has increased interest rates to 5.25%, a level not seen since April 2008 and markedly higher than the all-time lows of 0.1% seen less than two years ago. In fact, …
Bank account closures don’t just affect ‘politically exposed persons’ – sex workers have struggled with financial exclusion for years: BongkarnGraphic/Shutterstock The fallout over the closure of Nigel Farage’s bank account has shed light on how financial institutions handle “politically exposed persons”, whom they may view as high-risk clients. Farge, the former Ukip leader, who held …
What is a ‘politically exposed person’ and why do the likes of Jeremy Hunt and Nigel Farage claim the status prevents them getting bank accounts?: Reports vary as to why the private bank Coutts decided to close the account of former UKIP leader Nigel Farage. He claims he was excluded for his political views, the …
South Africa’s Land Bank can be fixed: change the funding model and narrow the focus: Land Bank played an influential role in the development of South African agriculture. GettyImages It is disheartening to see how many South Africans, including parliamentarians, have forgotten the simple and influential role the Land and Agricultural Development Bank (Land Bank) …
Death in Jenin: Israel’s biggest attack in the West Bank in 20 years is down to Netanyahu’s political weakness – here’s why: Israeli forces say they have completed a 48-hour military operation in the West Bank city of Jenin – the largest in two decades. Beginning on Monday, July 3, the Israel Defence Force (IDF) …
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Why the Bank of England’s interest rate hikes aren’t slowing inflation enough and what that means for mortgages: Consumer price inflation stuck at 8.7% in May, defying expectations of a slowdown and making a further rise in UK interest rates inevitable. The May figures came out the day before the Bank of England’s Monetary Policy …
UK economy: why the Bank of England is now more upbeat than the IMF: The Bank of England has changed its mind about the prospects for the UK economy. Having been predicting a recession in 2023 as recently as February, its latest May report is expecting a soft landing from the bout of high inflation …