Economic Issues – Avance Economico http://avanceeconomico.com/ Wed, 29 Jun 2022 20:39:18 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://avanceeconomico.com/wp-content/uploads/2021/07/icon-7.png Economic Issues – Avance Economico http://avanceeconomico.com/ 32 32 Abortion follows inflation, economy and crime on list of top issues for battleground voters: poll https://avanceeconomico.com/abortion-follows-inflation-economy-and-crime-on-list-of-top-issues-for-battleground-voters-poll/ Wed, 29 Jun 2022 19:34:55 +0000 https://avanceeconomico.com/abortion-follows-inflation-economy-and-crime-on-list-of-top-issues-for-battleground-voters-poll/ Democrats seized on the abortion issue to boost their odds in November, but a new poll shows that for most voters, nothing is more important than the economy. The Swan investigation of likely voters in 15 battleground states conducted for the Republican State Leadership Committee found the top issues for most voters were inflation, the […]]]>

Democrats seized on the abortion issue to boost their odds in November, but a new poll shows that for most voters, nothing is more important than the economy.

The Swan investigation of likely voters in 15 battleground states conducted for the Republican State Leadership Committee found the top issues for most voters were inflation, the economy and jobs at 56% combined, followed by crime at 9%, then abortion at 8%.

“Abortion is not a major issue for voters – not even close,” said RSLC President Dee Duncan. “While abortion is an issue that people are concerned about, the data clearly shows that it is not among the top issues that will determine electoral behavior in November. Instead, this election will remain about the failing economy of Biden.

The poll was conducted June 24-26, immediately after the Supreme Court released its opinion on Friday in Dobbs v. Jackson which overturned the 1973 decision Roe v. Wade who legalized abortion nationwide.

Since the Dobbs decision, Democrats have sought to reframe the election as an abortion referendum, while Republicans have focused on soaring inflation and the faltering economy under President Biden.

“We were confident enough in our theory of the case that we tasked Cygnal with setting up a battlefield poll starting Saturday morning – when the intensity surrounding the Dobbs decision was at its height – to see if something had changed from a similar survey in January,” Mr Duncan said.

“The results confirm that Republicans across the state remain offended this year as they will continue to campaign focused on counterbalancing President Biden’s failing economic policies that have created record inflation and gas prices,” said he declared.

Asked about the candidates, 30% said a candidate’s position on abortion is “the most important issue to them”, while 65% said other issues were a higher priority. About 21% of independent voters said abortion was number one when choosing who to support.

Less than 40% of likely voters said they would be unwilling to vote for a candidate whose views differ from theirs on abortion.

The poll also showed that Mr Biden’s approval rating is still underwater at 41% in favor versus 57% unfavorable.

Democrats seeking to avoid an early annihilation of the Red Wave in November used Roe’s downfall as a rallying cry for their base.

Mr Biden urged voters to “raise their voices” by electing pro-choice candidates in November.

“This fall, Roe is on the ballot. Individual freedoms are on the ballot,” Biden said.

A Gallup poll published On June 6, before the Supreme Court’s ruling but after the leaked draft notice, found that 27% of registered voters said a candidate ‘must share their views on abortion to receive their vote. , which is the highest measured in an election year”.

“At the other end of the spectrum, 16% say abortion will not be a major issue in their vote, nine percentage points lower than what Gallup has measured in any previous election year,” the polls said. sounders.

Mr Duncan said the political environment is “still a disaster for state Democrats”.

“Republicans have a head start on what is by far the most important issue for voters, and the issues that state Democrats are trying to exploit to distract from Biden’s ailing economy don’t won’t be salient enough to save them in November,” he said. .

The Cygnal poll has a margin of error of +/-2.19%. Likely voters were surveyed in Arizona, Colorado, Florida, Georgia, Michigan, Minnesota, Maine, Nevada, New Hampshire, North Carolina, Oregon, Pennsylvania, Texas , Washington and Wisconsin.

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Economy, inflation, abortion rights among issues Illinois voters at the polls | Illinois https://avanceeconomico.com/economy-inflation-abortion-rights-among-issues-illinois-voters-at-the-polls-illinois/ Mon, 27 Jun 2022 20:31:00 +0000 https://avanceeconomico.com/economy-inflation-abortion-rights-among-issues-illinois-voters-at-the-polls-illinois/ (The Center Square) — Voters in Illinois are laying out the critical issues leading them to the polls, not just in Tuesday’s primary, but in November’s general election. Over the weekend, protesters in Chicago marched through the streets in reaction to Friday’s U.S. Supreme Court ruling returning the issue of abortions to the states. “This […]]]>

(The Center Square) — Voters in Illinois are laying out the critical issues leading them to the polls, not just in Tuesday’s primary, but in November’s general election.

Over the weekend, protesters in Chicago marched through the streets in reaction to Friday’s U.S. Supreme Court ruling returning the issue of abortions to the states.

“This decision should not stand. Legal abortion on demand,” protesters shouted.

Before a crowd in Chicago over the weekend, Illinois Lieutenant Governor Juliana Stratton said access to abortion must be a major issue for voters.

“Because abortion is health care,” Stratton said in a video posted to Twitter. “And it should be safe and legal and available to anyone who wants it and that’s the future we’re fighting for together.”

At a rally for former President Donald Trump near Quincy on Saturday, several voters spoke out about their issues. Rock Island resident Glen Evans said the economy was a priority.

“You have to bring the economy together,” Evans told The Center Square. “We also need to work on Second Amendment rights, down the line. We have to make sure we do. We did good until Roe v returned. Wade. We just have to keep moving forward. »

Others spoke of the need to ensure border security and election integrity.

Amber Oberheim, whose police officer husband Chris was murdered last year in Champaign, said fighting crime and supporting law enforcement was high on her list.

“It’s my only program right now,” she said. “Would I like to see our state recover from the financial ugliness that has been created? Absolutely. But right now, I care about public safety and the safety of my family from law enforcement and that’s first and foremost. »

At the Trump rally, Independent voter Keirra Purches, a Chicago native and Quincy resident, said there were plenty of issues to ponder on all sides. But, as a 20-year-old voter, her focus is on those seeking employment and looking to address mental health issues.

“I feel like everyone needs to focus more on mental health issues and things like that first,” Purches said. “A lot of great things are happening and there are a lot of things in question, it feels like they are valid, but for the foundation of our planet and future generations to come, we have to make sure we have our minds health under control, which I noticed in 2020, many of us did not have our mental health under control.

Tuesday is the Illinois primary. The midterm general election is November 8.

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US Russia sanctions architect Singh’s departure as Ukraine war drags on https://avanceeconomico.com/us-russia-sanctions-architect-singhs-departure-as-ukraine-war-drags-on/ Sat, 25 Jun 2022 12:06:32 +0000 https://avanceeconomico.com/us-russia-sanctions-architect-singhs-departure-as-ukraine-war-drags-on/ Daleep Singh, US Deputy National Security Advisor for International Economics, speaks about sanctions against Russia during a press briefing at the White House in Washington, February 22, 2022. Kevin Lamarque | Reuters US President Joe Biden will have a new “sherpa” when he travels to Germany next week – a former BlackRock strategist named Mike […]]]>

Daleep Singh, US Deputy National Security Advisor for International Economics, speaks about sanctions against Russia during a press briefing at the White House in Washington, February 22, 2022.

Kevin Lamarque | Reuters

US President Joe Biden will have a new “sherpa” when he travels to Germany next week – a former BlackRock strategist named Mike Pyle, who replaces former Washington sanctions focal point Daleep Singh.

Singh, who played a crucial role in the White House coordinating Western sanctions against Russia following its invasion of Ukraine in February, this week took up the post of chief global economist and head of research. macroeconomics at PGIM Fixed Income, a Wall Street asset manager with $890 billion in assets.

Singh, who was the deputy national security adviser, left the White House in April to ‘deal with a family matter’, a source said at the time, and would only have been away on leave temporary.

His role hovered between economic policy and national security, directing the work of several federal agencies that crafted the most intensive sanctions package in history against Russia and helping coordinate the president’s attendance at international conferences.

He was spooked by an incident at his Washington home shortly after the first round of sanctions was announced, when someone entered the front yard of his home before fleeing, according to a person familiar with the matter. . No connection was ever made between the incident and Singh’s sanctions work.

The departure comes at a key time for those sanctions, as officials fear efforts to cut off Russian oil and gas from international markets threaten to backfire, pushing Western economies into recession.

Pyle, who joined the Biden administration as chief economic adviser to Vice President Kamala Harris, took the interim post and will play the crucial role of coordinating “sherpa” in Singh’s absence when Biden joins the summit of the rich nations of the Group of Seven in Germany.

He is one of three senior administration officials who previously worked for investment giant BlackRock, along with Deputy Treasury Secretary Wally Adeyemo and National Economic Council Director Brian Deese.

Progressive groups have sharply criticized Biden for giving key economic jobs to Wall Street advisers.

The White House declined to say whether Pyle’s assignment would be made permanent.

Pyle, who began his career as a lawyer for Merrick Garland when the current attorney general was a judge on the Federal Court of Appeals, is no stranger to global economic issues.

He worked as former President Barack Obama’s special assistant for economic policy and held key positions in the Treasury Department and the Office of Management and Budget.

Obama took office in the midst of a global financial crisis. While in the White House, Pyle also helped manage the administration’s response to the Eurozone financial crisis, worked on U.S.-China relations, Obama’s landmark health care reform law, and the economic recovery, according to the biography.

]]> Veep urges African governments to implement a common strategy to mitigate economic challenges https://avanceeconomico.com/veep-urges-african-governments-to-implement-a-common-strategy-to-mitigate-economic-challenges/ Thu, 23 Jun 2022 20:00:03 +0000 https://avanceeconomico.com/veep-urges-african-governments-to-implement-a-common-strategy-to-mitigate-economic-challenges/ Economy Veep Collaboration Vice President Mahamudu Bawumia urged African governments to collaborate and implement a common strategy to alleviate the economic challenges caused by the COVID 19 pandemic and the Russian-Ukrainian conflict. He noted that adopting a common continental approach would help reduce dependence on donor support and become self-sufficient. “This will help us exploit […]]]>

Economy Veep Collaboration

Vice President Mahamudu Bawumia urged African governments to collaborate and implement a common strategy to alleviate the economic challenges caused by the COVID 19 pandemic and the Russian-Ukrainian conflict.

He noted that adopting a common continental approach would help reduce dependence on donor support and become self-sufficient.

“This will help us exploit the synergies that exist in our countries and accelerate integration into the globalized economy,” Dr. Bawumia stressed.

Vice President Bawumia gave the advice during his keynote address at the opening ceremony of the 22nd Annual General Meeting of the African Trade Insurance Agency (ATI) in Accra on Thursday.

He pointed out that the structure of the global economy is changing due to the pandemic, therefore, countries and continents need to focus on internal means to address socio-economic challenges and improve the lot of their citizens.

The ATI was created by African governments in 2002 to improve the competitiveness of African countries and lead them towards self-reliance.

The multilateral organization, comprising more than 20 African countries, complements the efforts of African governments to sustain growth and overcome economic shocks.

“Regional economic integration will not only help our countries access the expanded regional market internally, but also facilitate global competitiveness,” he added.

The Vice President emphasized that Africa must play an increasing role in the global economy in order to maximize the opportunities available in the interconnected global economy.

Dr Bawumia observed that the global economy had been grappling with a series of economic shocks and uncertainties over the past decade – from the economic recession of 2008-2009 to the commodity crisis in 2014/2015, then to the 2020 COVID-19 pandemic and now the Russian-Ukrainian conflict.

“Current challenges were already negating the modest gains made so far, and we need greater cooperation to leverage the African Continental Free Trade Area (AfCFTA) and other initiatives,” he said. -he declares.

“The cumulative impacts of this pandemic and the Russian-Ukrainian conflict have been quite severe and threaten to roll back Africa’s economic gains, with the continent’s real GDP for 2022 expected to slow to 4.1% according to the African Economic Outlook. from the AfDB. report.

“That’s significantly lower than the 2021 growth rate of 7.1%,” he noted.

He pointed out that the pandemic and the conflict had also disrupted the supply chain of traded products, including fertilizers, which largely originated in Russia, driving up prices for oil and products such as fertilizers.

Mr. Manuel Moses, Chairman and CEO of ATI, said in a speech that the organization saw growth in both revenue and net income in 2021, with gross underwriting seeing strong growth to $143.5 million, an increase of 14%. , compared to the previous year.

He said underwriting profitability increased 11% from US$29.8 million in 2020 to US$33 million in 2021.

Gross exposures, which reflect the absolute contract values ​​of insurance cover issued, fell from US$6.3 billion in 2020 to US$6.6 billion at the end of 2021, he added. .

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Turkey: Inter-Agency Protection Sector Needs Analysis Round 5 – January 2022 – Türkiye https://avanceeconomico.com/turkey-inter-agency-protection-sector-needs-analysis-round-5-january-2022-turkiye/ Wed, 22 Jun 2022 00:18:05 +0000 https://avanceeconomico.com/turkey-inter-agency-protection-sector-needs-analysis-round-5-january-2022-turkiye/ This fifth round of inter-agency Protection Sector Needs Assessment was conducted via 18 sector partners (including CBOs) and 2 universities in January 2022 with a sample of 1,146 individuals (representing a total of 6 465 people at the household level). The majority of respondents taking part in the exercise are Syrians, followed by Afghans, Iraqis, […]]]>

This fifth round of inter-agency Protection Sector Needs Assessment was conducted via 18 sector partners (including CBOs) and 2 universities in January 2022 with a sample of 1,146 individuals (representing a total of 6 465 people at the household level). The majority of respondents taking part in the exercise are Syrians, followed by Afghans, Iraqis, Iranians and people of other nationalities.

This comparative analysis aims to provide an overview of the impact of COVID-19 and the current socio-economic context on refugee communities in Turkey. Overall, the assessment provides an understanding of the overall protection situation across Turkey in relation to various thematic areas, including community-level protection and concerns; access to information; access to services (including health, COVID-19 vaccines and education); work and income; access to basic needs; and access to digital tools and digital literacy. In this cycle, additional questions on disability status, education levels, Turkish language skills were included in consultation with industry partners. The analysis proposes various measures to overcome the obstacles and challenges identified during the assessment.

  • Only 16% of respondents indicate that they speak Turkish fluently. The highest rates of Turkish proficiency are among Iranians (43% can speak fluently) and the lowest among Syrians, as 33% of respondents indicate that their Turkish is very limited. The inability to speak Turkish is slightly higher in women than in men.

  • 31% of households confirmed having one or more members with disabilities. The highest prevalence of disability is identified within Afghan communities.

  • As in previous series, more than half of the population (58%) believe they have sufficient access to information. Although some improvements have been recorded since Round 4, the results show that Afghans and Iranians continue to have less access to information compared to other population groups. In addition, rural populations and illiterate people were also identified as being disadvantaged in access to information compared to others. While the information gaps remained the same from one cycle to the next (i.e. financial and material assistance, labor rights and resettlement), this cycle clearly identified differences in information needs by location, gender and nationality. The main sources remained within the community, with UN agencies also included in the top three.

  • Overall access to essential services improved from September 2021, likely due to the lifting of COVID-19 measures and a significant shift to hybrid service delivery. During this cycle, 95% of respondents attempted to access services, of which 24% indicated that they encountered difficulties. No major differences in access to services were identified with respect to place of residence, location, gender groups or nationalities. The hardest to reach services and service providers were PDMMs and ESSN/CCTE applications. Among those who have encountered difficulties, differences are identified between rural and urban populations, gender groups, locations and nationality groups, with regard to services/service providers that are difficult to access and barriers to access. access.

  • A marked improvement in access to health services has been identified in this Round. To clarify, 88% of respondents indicated that they had tried to access services, of which 17% said that they faced obstacles. However, Afghans and Iranians continue to experience more difficulty accessing compared to other population groups (34% and 28% respectively said they have tried to access but failed), despite improvements for both groups since Round 4. Barriers to accessing health services for Afghans and Iranians remain tied to the legal status and in particular the status of their health insurance, for which most insurance has been disabled. approached PDMM to formally request an assessment for reactivation. Although they are getting closer to the PDMMs and some have specific needs that can trigger a reactivation (depending on the parameters set by the PMM), the majority indicate that their assurances remain inactive.

  • The results indicate a slight deterioration since the previous cycle in terms of access to sexual and reproductive health (SRH) services and gynecology and obstetrics (G&O) services. Iranian women were identified as facing more difficulties than other population groups. While many respondents cite barriers related to accessing health services in general, around half also cite language barriers and lack of interpretation services as a major challenge in accessing SRH and G&O services.

  • A clear majority across all groups are able to follow developments related to COVID-19 in Turkey (including in relation to recalls) and report that they have not encountered any difficulty in accessing COVID-19 vaccines. Additionally, while 34% did not answer the question, of those who did, 84% confirmed that one or more members of their household had been vaccinated and 80% confirmed that all members had been vaccinated. . Reasons for not having access to the vaccine were identified as concerns about potential costs, concerns about the safety (and benefits) of vaccines, and potential longer-term consequences. The first is particularly relevant for men, while the last two concerns are mentioned more by rural populations, women heads of households and Afghans.

  • 65% of respondents report having school-aged children, 89% of whom confirmed that at least one of their children has access to school. Among households that confirm that their children have access to school, 80% indicate that their children can still attend classes, indicating an overall improvement in access to education compared to the COVID-19 period when education was delivered remotely. The main reasons why children are out of school include financial barriers, bullying and distance to schools/transportation issues.

  • Most respondents (60%) indicated that they were working informally before the COVID-19 outbreak, while a third were unemployed and only 9% were working formally. Differences in pre-COVID work status have been identified across gender groups, residential settings, population groups, and geographic locations. Following the outbreak, 67% experienced a change in their professional status (which continued to be linked to COVID-19 and potentially to the economic situation as well), with Iranians and Afghans most affected by these changes.

  • About 4% of all children identified at the household level are working. It is of particular concern that nearly half of all working children are under 12 (representing a 60% increase since the last cycle in working children under 12). The majority of working children are of Syrian origin, but the prevalence of working children under 12 is highest in Afghan communities. The main sectors of employment for children are agriculture and animal husbandry textiles and sewing and construction. Although differences between groups have been identified, the majority of factors leading to child labor are identified as being directly linked to access to livelihoods and the socio-economic situation of households.

  • The main source of income for about half is work/employment, followed by humanitarian aid. Among respondents, about half confirmed having received some form of assistance (cash, in-kind or both), but increasingly, individuals indicate that assistance does not meet their needs. This may mean that despite some increase in transfer values ​​for cash-based interventions, this may not be in line with the current economic circumstances of the country.

  • 90% of respondents say they are unable to fully cover their monthly expenses and basic household needs, with the number of people unable to meet their expenses increasing since the last cycle. Afghans and Iraqis are identified as the most socio-economically vulnerable population groups.

  • Compared to pre-COVID periods, the average increase in household spending is 63%. The most difficult to manage costs remained the same as in Round 4, namely food, rent/housing and utilities. Almost all respondents mentioned adopting a coping strategy/coping mechanism, including reducing essential food expenses, borrowing money/remittances and buying food on credit/ debt.

  • Respondents continue to report observations on a variety of protection and community concerns, including domestic violence (confirmed increase of 29%), conflict between household members (36%), violence and sexual abuse against women and girls, social tensions with members of the host community (32%). , and child marriage at very similar levels compared to the previous Round. In this round, observations related to peer bullying were explored, where 41% of respondents confirmed an increase in peer bullying between refugee and host community children and youth .

  • Increased stress, both at the individual and community level, remained the most significant protection and community concern identified across all rounds of assessment, particularly for Iranians and Afghans. The reasons for the increased stress are related to the unpredictability of the future in Turkey and socio-economic concerns. Findings from this cycle clearly indicate the links between MHPSS and protection concerns, including in relation to tensions with the host community. The majority of those in need of support seek MHPSS services through I/NGOs and hospitals.

  • 15% of respondents faced a situation where they needed to access legal assistance, but half of them could not access services, Iranians and Afghans being slightly disadvantaged in terms of access compared to other groups. While in all groups access to territory and international protection remained among the main issues for which respondents needed access to legal assistance, it should be noted in particular that support related to violence (including different types, such as sexual, physical and psychological) was also identified. in this cycle among the main needs. For those able to access assistance, I/NGOs remained the main source, followed by private lawyers and bar associations.

  • Almost half of respondents indicate that they face difficulties in accessing services remotely due to the lack of digital tools, while 60% say they encounter some level of difficulty or are completely unable to use digital platforms to access services.

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    Inventory decline continues as economic concerns rise https://avanceeconomico.com/inventory-decline-continues-as-economic-concerns-rise/ Mon, 20 Jun 2022 08:35:55 +0000 https://avanceeconomico.com/inventory-decline-continues-as-economic-concerns-rise/ Hana Bank’s electronic billboards in central Seoul display indices in Korea on Monday. [YONHAP] Korean stocks fell to a fresh 52-week low as indices and assets retreated globally and the crypto crash continued. The Kospi ended Monday down 2.04% at 2,391.03. It is down 20% this year and 26% year on year and is trading […]]]>

    Hana Bank’s electronic billboards in central Seoul display indices in Korea on Monday. [YONHAP]

    Korean stocks fell to a fresh 52-week low as indices and assets retreated globally and the crypto crash continued.

    The Kospi ended Monday down 2.04% at 2,391.03. It is down 20% this year and 26% year on year and is trading where it was five years ago.

    Foreign investors led the rout, selling 625.84 billion won ($485 million) worth of shares.

    Both big and small names have been hit hard. Samsung Electronics, the country’s largest company, fell 1.84% to a new 52-week low, SK Inc. 3.02%, LG Electronics 3.22% and Korean Air Lines 4.85%.

    Clear indications of higher interest rates are prompting investors to shift their funds to safer markets and assets, especially away from high-flying, low-yielding tech names. In Korea, the housing market begins to turn as the cost price rises.

    The crypto turmoil, beginning with the TerraUSD and Luna crashes and continuing with bitcoin volatility and tether peg cracking, raised the possibility of systemic failures and a daisy chain of instability.

    The Federal Reserve raised its benchmark policy rate by 0.75 percentage points last week, after assuring markets earlier that the increase would not be as large, and said another adjustment of this magnitude was possibly next month. Last Thursday, Bank of Korea Governor Rhee Chang-yong said inflation was of the utmost importance.

    The next board meeting will be on July 13. Korea’s current base interest rate is 1.75%, compared to 1.5% to 1.75% in the United States.

    Inflation in the United States rose to 8.6% in May from a year earlier, the highest since December 1981. Consumer prices in Korea rose 5.4% during the same period, the highest in more than 13 years.

    Rate hikes have added pressure on debtors, with forecasts that the mortgage rate at commercial banks could hit 8% this year, the first since December 2008.

    The average fixed mortgage rate at four commercial banks – KB Kookmin, Shinhan, Hana, Woori – was between 4.33 and 7.14% as of June 17, compared to 3.6 and 4.98% at the end of the year last.

    “There hasn’t been a portfolio strategy for quite some time,” Sangsangin Securities analyst Jay Kim said in a Monday report. “Reversals, such as the end or a truce of the war in Ukraine, or a sharp drop in price indices, will have to be seen.”

    Kim lowered his Kospi forecast over the next three months to a range of 2,300-2,600 from 2,400-2,700 previously.

    “Market volatility will last for some time amid concerns that inflation is spiraling out of control and fears of monetary tightening and economic recession,” Seo Jung-hun, senior analyst at Samsung Securities, wrote in a report released on Monday. . “The economic recession is an established fact given the collapse of almost 30% of the domestic market since its peak.”

    The won hit 1,295.30 won to the dollar on Monday, down more than 10% year on year. The last time won was also low, excluding last week, following the March 2020 pandemic.

    On Sunday, the fuel tax cut was increased to 37% from 30% from next month. The reduced rate will be in effect until the end of the year.

    The average price of gasoline at gas stations nationwide was 2,111 won per liter on Monday, up more than 6 percent month on month, according to Opinet, the official website of Korea’s petroleum price management system. National Oil Corporation.

    Concerns about the global economic recession have been raised “due to the large volume of liquidity released and the policy of high interest rates around the world to mitigate high inflation, so there is no fundamental way to react “, President Yoon Suk-yeol said Monday. “The government is doing its best to calm inflation.”

    Lee Bok-hyun, head of the Financial Supervisory Service, on Monday stressed the importance for banks to preemptively manage vulnerable borrowers to lead to a soft landing for the economy.

    BY JIN MIN-JI [jin.minji@joongang.co.kr]

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    Reviews | On inflation and the food crisis, the world can work together or fall apart https://avanceeconomico.com/reviews-on-inflation-and-the-food-crisis-the-world-can-work-together-or-fall-apart/ Sat, 18 Jun 2022 12:24:50 +0000 https://avanceeconomico.com/reviews-on-inflation-and-the-food-crisis-the-world-can-work-together-or-fall-apart/ As is often the case, the poorest countries bear the brunt, and history shows that hunger can quickly turn deadly. Nigeria, Somalia, Ethiopia, Egypt and Yemen are already suffering from food shortages, The Washington Post Remarks; the price hike sparked protests in Argentina, Indonesia, Tunisia and Sri Lankaamong other countries. The biggest constraint to Ukraine’s […]]]>

    As is often the case, the poorest countries bear the brunt, and history shows that hunger can quickly turn deadly. Nigeria, Somalia, Ethiopia, Egypt and Yemen are already suffering from food shortages, The Washington Post Remarks; the price hike sparked protests in Argentina, Indonesia, Tunisia and Sri Lankaamong other countries.

    The biggest constraint to Ukraine’s grain export is the country’s inability to use its main Black Sea port, Odessa. Instead, Ukraine tried to ship its grain by road, rail and river, but these methods fall far short of what would be exported through Ukrainian ports. Before the Russian invasion, Ukraine exported an average of 3.5 million tons of grain per month. This fell to 300,000 tonnes in March and rose to just over a million tonnes in April.

    Odessa could handle the volume, and it’s still under Ukrainian control. The problem is warships and mines blocking navigation. Russia has noted that he is ready to open a secure channel from Odessa, but he expect some sanctions to be lifted in exchange. The United States and its allies resisted the lifting of any sanctions; Ukrainians say that Russia we can’t trust.

    Hurry up. Winter wheat is ripe and about 25 million tonnes of grain, according to United Nations estimates, in Ukraine could rot if not exported quickly. Even an immediate deal to pave the way to Odessa would take weeks to organize a large flotilla willing to risk entering a war zone and pay for the necessary insurance and escort. The use of NATO ships could create the danger of a direct confrontation with Russian warships, which Western allies intend to avoid.

    UN Secretary General António Guterres said that “there is no effective solution to the food crisis without reintegrating food production from Ukraine, as well as food and fertilizers produced by Russia and Belarus, into world markets, despite the war” . He suggested, in effect, that the United States and Europe ease existing sanctions on Russian and Belarusian agricultural exports in exchange for free movement of Ukrainian grain to the world.

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    Revlon files for bankruptcy amid competition and supply chain stress: NPR https://avanceeconomico.com/revlon-files-for-bankruptcy-amid-competition-and-supply-chain-stress-npr/ Thu, 16 Jun 2022 15:57:54 +0000 https://avanceeconomico.com/revlon-files-for-bankruptcy-amid-competition-and-supply-chain-stress-npr/ Revlon files for Chapter 11 bankruptcy amid heavy debt, competition from new competitors and supply chain fluctuations. Justin Sullivan/Getty Images hide caption toggle caption Justin Sullivan/Getty Images Revlon files for Chapter 11 bankruptcy amid heavy debt, competition from new competitors and supply chain fluctuations. Justin Sullivan/Getty Images Revlon filed for bankruptcy as competition from new […]]]>

    Revlon files for Chapter 11 bankruptcy amid heavy debt, competition from new competitors and supply chain fluctuations.

    Justin Sullivan/Getty Images


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    Justin Sullivan/Getty Images


    Revlon files for Chapter 11 bankruptcy amid heavy debt, competition from new competitors and supply chain fluctuations.

    Justin Sullivan/Getty Images

    Revlon filed for bankruptcy as competition from new brands and pandemic-related supply chain issues hurt sales.

    The international beauty company, which sells products in more than 150 countries, is struggling with heavy debt. It listed $3.7 billion in total debt in a court filing on Wednesday, much of it accrued trying to compete with cosmetics startups.

    Many new cosmetic companies are celebrity-backed who can rely on an existing fan base to generate hype and sales, such as Rihanna’s Fenty Beauty and Kylie Jenner’s Kylie Cosmetics. Supply chain issues and labor shortages, exacerbated by the pandemic, have also proven difficult for Revlon.

    “Consumer demand for our products remains strong – people love our brands and we continue to have a healthy position in the market. But our difficult capital structure has limited our ability to manage macro-economic issues in order to meet this request,” Debra Perelman, Revlon’s president and CEO, said in a statement.

    Revlon has filed for Chapter 11 bankruptcy, which will allow it to restructure its obligations to creditors while remaining in business. He owns several brands, including Elizabeth Arden, which he bought in 2016 using mostly loans.

    Revlon was founded in 1932 and started out selling nail polish. By 1957, she was selling lipsticks and had expanded her sales internationally. For much of the 20th century, it was among the most popular beauty brands in the United States. Billionaire Ron Perelman – Debra Perelman’s father – bought the company in a hostile takeover in 1985. His holding company, MacAndrews & Forbes, owns the vast majority of the company’s stock.

    Debra Perelman became Revlon’s first female CEO in 2018. She committed to modernizing the brand to compete with fledgling businesses and changing consumer tastes.

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    Global stocks rebound modestly, though economic pressures remain https://avanceeconomico.com/global-stocks-rebound-modestly-though-economic-pressures-remain/ Tue, 14 Jun 2022 08:33:58 +0000 https://avanceeconomico.com/global-stocks-rebound-modestly-though-economic-pressures-remain/ Global stocks signaled a potential rebound on Wall Street on Tuesday, a day after a market rout sent the S&P 500 into bearish territory with losses of more than 20% from its recent high. U.S. equity futures rose on Tuesday, while European markets rose in early trading. After a sharp initial sell-off, many markets in […]]]>

    Global stocks signaled a potential rebound on Wall Street on Tuesday, a day after a market rout sent the S&P 500 into bearish territory with losses of more than 20% from its recent high.

    U.S. equity futures rose on Tuesday, while European markets rose in early trading. After a sharp initial sell-off, many markets in the Asia-Pacific region recouped some of their losses.

    Global markets are on shaky ground as multi-decade highs in inflation, supply chain shortages and geopolitical tensions weigh on growth prospects around the world.

    It’s a delicate balancing act. If the Fed takes too aggressive steps to contain inflation, it could dampen the US economy and trigger a recession.

    Those worries sparked a selloff in the United States on Monday, when the S&P 500, the benchmark stock index, lost 3.9%. Since hitting a record high in January, the S&P 500 has fallen 22%, marking the seventh bear market of the past 50 years.

    Weakness continued in the Asia-Pacific region on Tuesday, although many markets pared losses in the afternoon. Japan’s Nikkei index fell 1.3% at the close while China’s Shanghai Composite Index rallied late in the day to end up 1%. In Australia, the key stock index fell around 3.5%, the biggest single-day drop in two years.

    “Investors are just reassessing global risk,” said Bruce Pang, Hong Kong-based analyst at China Renaissance Securities. “They want to play it safe.”

    Stock indices across Europe climbed higher. The Stoxx Europe 600 rose 0.5%, ending five straight days of losses and moving away from its lowest level since March 2021. Britain’s FTSE 100 rose 0.5% and the DAX in Germany increased by 0.8%.

    Investors have tried to make sense of what is happening in the global economy.

    The World Bank issued a dire warning last week, saying recession will be hard to avoid for many countries. On Monday, ratings firm Fitch lowered its 2022 forecast for global gross domestic product, or GDP, to 2.9% from an estimate of 3.5% in March.

    Uncertainties abound, further clouding the outlook.

    Russia’s invasion of Ukraine has further strained an already strained global supply chain while straining global food and oil supplies. As inflation soars, central banks around the world have moved to hike rates.

    China also complicates the picture. As the Chinese government stubbornly pursues a zero Covid strategy, the resulting lockdowns and restrictions have stunted China’s growth and added to global supply chain woes. Chinese officials are increasingly concerned about the state of the economy, raising doubts that the country will meet its growth targets.

    In its forecast, Fitch raised concerns about “tight” monetary policy and inflation, noting that supply disruptions due to the war between Russia and Ukraine are “impacting faster than expected. on European inflation”. The rating agency also cut growth projections for China as it did not expect the economy to rebound quickly given the government’s commitment to zero-Covid policy.

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    The government explained how it would deal with the economic challenges https://avanceeconomico.com/the-government-explained-how-it-would-deal-with-the-economic-challenges/ Sun, 12 Jun 2022 16:30:00 +0000 https://avanceeconomico.com/the-government-explained-how-it-would-deal-with-the-economic-challenges/ The utility price reduction protection fund and the defense fund are necessary to ease the burden on families, preserve the achievements of the government and, in response to the war situation, guarantee the peace and security of the country, Finance Minister Mihály Varga told public television station Kossuth Rádió. on Sunday. Varga noted that in […]]]>

    The utility price reduction protection fund and the defense fund are necessary to ease the burden on families, preserve the achievements of the government and, in response to the war situation, guarantee the peace and security of the country, Finance Minister Mihály Varga told public television station Kossuth Rádió. on Sunday.

    Varga noted that in 2019, before the pandemic hit, the budget forecast a 1% deficit, but the figures had to be revised due to the crisis. High energy prices, rising inflation and rising interest charges from debt servicing have dramatically increased spending, he said, but the government has pledged to restore budgetary discipline.

    Next year’s draft budget will ensure that the deficit and public debt will fall in 2023, to 3.5% (of GDP) and 73.8%, respectively,

    Varga said.

    The utility price drop protection fund and the defense fund are planned for two years, 2022 and 2023, he said.

    The utility price reduction fund is expected to reach 670 billion forints next year and the defense fund 842 billion forints. With the latter, Hungary will reach its target set earlier as a NATO commitment to spend at least 2% of its GDP on defense by 2024 as early as next year, as defense spending will significantly exceed 1.3 trillion forints, Varga said.

    Varga said Hungary’s utility price reduction program, in place since 2013, now faces a big challenge due to high energy prices and inflation.

    The government has decided to maintain this system; payments from the utility price reduction fund should be used to keep energy prices at their current low levels for families, he said.

    He said negotiations were still ongoing over the recovery fund with the European Union, but he was confident a deal would be reached. On the other EU-related issue, the seven-year budget, he said negotiations could be completed by the end of July so that these funds could already be factored into the 2023 budget, he said. -he declares.

    Finally, Varga said that monetary and fiscal policies aim to curb inflation as much as possible;

    the government expects the upward trend in consumer prices to stop and next year’s budget projects inflation between 5 and 6%.

    Read alsoOrbán: Budget geared towards managing wartime inflation and economic crisis

    Source: MTI

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