Central Bankers Urge Move From Stimulus to Reform Posted on June 29, 2009June 29, 2009 by Your Financial FactSheet Klapper – BASEL, Switzerland (AP): “Central bankers urge move from stimulus to reform” The Bank for International Settlements urged governments Monday to move away from “staggering” stimulus packages as the global economy stabilizes and focus instead on reforming the international financial system. Francis – BusinessWeek: “Financial Regulation: Industry Objections Increasing” It wasn’t so long ago—against the backdrop of the financial crisis and its aftershocks, amid a tide of popular anger—that financial-industry representatives took pains to acknowledge the need for financial reform, even in their own corners of the sector.
G20 Summit did nothing for the Caribbean… Posted on April 12, 2009April 14, 2009 by Your Financial FactSheet Jamaica Observer: “G20 Summit did nothing for the Caribbean: Developing countries failed to act collectively” THROUGHOUT the Caribbean the effects of the global financial meltdown are being seen in a human face – people are losing jobs, many are in danger of losing their homes from unpaid mortgages, and the income support that some received from relatives abroad is dwindling. There is fear and anxiety.
The Global Economy: Threats–and Responses Posted on March 12, 2009March 12, 2009 by Your Financial FactSheet BusinessWeek, Bovino: The Global Economy: Threats–and Responses In most regions, inflation has fallen sharply from its 2008 levels, largely on sharp declines in oil prices. Most countries are seeing rapidly falling inflation rates, also known as disinflation. Jamaica Observer: “Obama urges other nations to take stimulus action” WASHINGTON, USA (AP) – Just ahead of a major global economic summit, President Barack Obama called for international allies to develop more aggressive steps to jump-start their own economies.
The grim global equaliser Posted on March 11, 2009August 13, 2010 by Your Financial FactSheet Jamaica Observer: “The grim global equaliser” “With these words I make my covenant with you; I promise that never again will all living beings be destroyed by a flood, never again will a flood destroy the earth. I am putting my bow in the clouds. It will be the sign of my covenant with the world.” Genesis 9:11 and 13. Jamaica Gleaner: “FSC to free up unit trusts regime” Rohan Barnett, the new boss of Jamaica’s Financial Services Commission (FSC), hopes to soon lift the decade-old moratorium on new unit trusts, while the FSC continues to work with stakeholders on the longer-term matter of untangling knotty taxation questions that have stymied the creation of mutual funds here. Jamaica Gleaner: “Bernanke says regulatory overhaul needed” The United States’ financial regulatory system must be overhauled to strengthen oversight of banks, mutual funds and large financial institutions whose collapse would put the entire economy in peril, Federal Reserve Chairman Ben Bernanke said yesterday. BusinessWeek, Bovino: “The Global Economy: Strong Headwinds for Europe and Asia” Although the U.S. entered recession first, Britain and Japan—and to a lesser extent Europe—now face even larger hurdles.