• IMF: Long-Term Prediction, Greece will Struggle for Decades

    Greece is currently suffering through one of the direst economic crises of any industrialized nation in history. Now, the nation finds itself at the heart of a policy struggle between Eurozone lenders and the International Monetary Fund (IMF) over debt reductions prior to additional bailout funding. This has led to the IMF’s revision of its long-term projections for the embattled nation.

  • More Warnings on Britain Exiting the EU

    More experts are weighing in on Britain’s upcoming referendum on its membership in the EU.   A flurry of warnings from bankers, economists, politicians, and experts have bombarded Brits in recent months, with daily discussions at the BBC, The Times, the Telegraph, and other major British publications urging British citizens to vote to remain in the EU.

  • Argentina Intends to Bestow Amnesty on Undeclared Assets

    President Mauricio Macri announced that Argentines holding undeclared assets or cash in overseas accounts could bring it back to Argentina without legal consequences, according to The Wall Street Journal. The government aims to tax offshore money to fund pensions and other programs. Analysts estimate that over $500 billion in Argentine assets remain in overseas accounts, and incoming funds would be taxed anywhere from 0% to 15%.

  • U.S. GDP Growth Estimates Boosted on Strong Economic Data

    A number of economic studies show renewed strength in the American economy, helping the Federal Reserve boost its estimates for growth.  The Atlanta Federal Reserve’s real-time GDP estimator, GDPNow, has raised its estimates for growth to 2.9%, an increase of 16% from the last estimate. That is the highest growth estimate in over a year.

    The boost is being driven by renewed business investment in the United States, which rose from a negative reading to 0.4% thanks to a Census study of durable manufacturing goods.

  • South Korea’s New Anti-Corruption Law Could Have Economic Ramifications

    The South Korean government will implement a new law known as the Improper Solicitation and Graft Act in September, which bans pricey gift exchanges during business transactions, according to Bloomberg.

    Critics contend that the law will affect an economy already suffering from low consumption and lackluster GDP growth. Under the mandate, officials cannot receive meals over 30,000 won and gifts over 50,000 won, but journalists and teachers would be subject to the same rules.

  • World Bank: Combat Climate Change with a Carbon Pricing System

    In 2015, a handful of nations undertook a social experiment. Urged by groups, including the World Bank, who felt that combatting climate change required an economic incentive, these adventurous countries, and a number of states, regions, and cities, have begun charging companies that produce carbon as part of their operation. In just a year, the benefits of these programs have already begun to show.

  • U.S. Sees Higher Trade Deficit, Lower Services Activity

    American trade policy is failing to shrink the trade deficit with other countries as weak demand crimps services industries throughout the country.  The trade balance between the United States and foreign countries rose 3.4% on a month-over-month basis in April, rising to $57.5 billion; however, that also represents the lowest trade deficit since February 2015.