IMF WEEKEND READ

The latest IMF analysis of global economics, finance, development and policy issues shaping the world //

Dear maria, In today's edition we focus on emerging stronger from the great lockdown, financing a sustainable recovery, Japan's "guilt gap", economic recovery in Africa and rethinking global resilience. On that note, let's dive right in. EMERGING STRONGER FROM THE GREAT LOCKDOWN Managing Director Kristalina Georgieva and Chief Economist Gita Gopinath penned a new 2600-word essay for Foreign Policy on the state and future of the global economy amidst the pandemic. They write: "This crisis is far from over. The recovery remains very fragile and uneven across regions and sectors. To ensure that the recovery continues, it is essential that support not be prematurely withdrawn. Even as people return to work, employment rates in many countries have not returned anywhere close to pre-crisis levels. Job losses have hit younger and lower-skilled workers especially hard. Globally, the International Labor Organization estimates that the equivalent of 400 million full-time jobs were lost in the second quarter of 2020. And we know from recent global surveys that next to the virus itself, unemployment is people’s highest concern. The impact on global poverty is expected to be severe, with the World Bank projecting 71 million additional people falling into extreme poverty." "Securing a sustained recovery and emerging stronger from the Great Lockdown will require action on three fronts: First, the health crisis must be brought to an end—durably and everywhere. Impressive advances in vaccine development raise hopes that this objective can be achieved. Second, people need to be able to find productive jobs. This requires preventing excessive firm bankruptcies and creating an environment for job-rich growth. Finally, our future must be more sustainable and inclusive than our past. This requires policies to arrest global warming and reverse rising inequality. Many countries will face daunting fiscal challenges in trying to reconcile the spending required to fight the crisis with the constraints imposed by higher debt and declining revenues. Low-income countries will require continued financial support from the international community." If you only have time for one article to bring you up to speed, I highly recommend this one. Read it in full here. FINANCING A SUSTAINABLE RECOVERY "We need to recognize that this crisis is telling us to build resilience for the future," said MD Georgieva in a recent virtual event on financing for development hosted by Finance Minister Freeland of Canada, Finance Minister Clarke of Jamaica, and UN Deputy Secretary-General Amina Mohammed. "That means investing in education, digital capacity and human capital – the health systems and the social protection systems. We need to make sure the other crises in front of us – like the climate crisis – are well integrated and addressed. And we need to prevent inequality and poverty – including gender inequality – from raising their ugly heads again. To do this, we have to take care of taxation in a way that transforms and builds resilience for the future." Read her full remarks here. Indeed, more than $10 trillion has been spent on global fiscal policy relief and to contain COVID-19, with new rounds of stimulus to support economic recovery expected as lockdowns relax. How can capital that is mobilized to counter the economic fallout be directed towards a sustainable and resilient recovery? Watch this new 60-minute discussion to find out—hosted by the World Economic Forum and featuring IMF Managing Director Kristalina Georgieva, Minister of Finance, Economy and Planning at Ministry of Finance of Saudi Arabia Mohammed Al-Jadaan, Chief Executive Officer at Fidelity International Anne Richards and Director and Professor of Environmental Economics at Smith School of Enterprise and the Environment Cameron Hepburn. THE GUILT GAP Japan’s voluntary month-and-a-half shutdown of the economy in April due to COVID-19 has had a higher cost for women than men. A key reason: a “guilt gap” between women and men, where women often feel compelled to take on more professional sacrifices, writes Chie Aoyagi in a new blog. Close to one million women—the majority of whom worked in temporary and part-time positions—left the labor force between December and April. Amid massive disruptions to childcare and schools, research in an IMF Working Paper has helped solidify a universal truth: Women rather than men often face greater responsibility and guilt for being neither the ideal mother nor the ideal employee. If the labor market was more supportive of work-life balance, then we may have seen a more balanced outcome during the pandemic with both men and women stepping in to help with children. Policies to promote better work-life balance and gender equality will also be critical to help enhance female employment opportunities and careers in the “new normal” after the pandemic is under control. Read the full blog here. ECONOMIC RECOVERY IN AFRICA Fiscal policies have been instrumental in addressing the COVID-19 crisis around the world, but as Africa in particular move towards an economic recovery, how can policymakers create fiscal policies that are inclusive, sustainable, and supportive of the recovery? African Department Director Abebe Aemro Selassie recently participated in the Economic Research Southern Africa (ERSA)'s Fiscal Futures panel to discuss exactly this question. Watch his segment here. RETHINKING GLOBAL RESILIENCE In the cover story of our newest issue of F&D, Oxford professor of Globalization and Development Ian Goldin writes that the pandemic has highlighted our lack of immunity to natural threats, but also created an opportunity to reset our economies. "There is no shortage of ideas regarding green stimulus policies, which offer the potential to build back better and accelerate the transition from fossil fuels. Global protests, from climate to race, have demonstrated the appetite for fresh thinking. And COVID-19 has also demonstrated that citizens are prepared to change their behavior when required to do so. All that remains is for governments to act," explains Goldin. Read the full 2200-word article here. Prefer the PDF? Download here. Interested in the full issue? Click here. Be sure to check out other feature stories like the debt pandemic and race in economics. IMF AND COVID-19 We just updated our global policy tracker to help our member countries be more aware of the experiences of others in combating COVID-19, and we are regularly updating our lending tracker, which visualizes the latest emergency financial assistance and debt relief to member countries approved by the IMF’s Executive Board. To date, 75 countries have been approved for emergency financing, totaling over US$30 billion. Looking for our Q&A about the IMF's response to COVID-19? Click here. We are also continually producing a special series of notes—more than 50 to date—by IMF experts to help members address the economic effects of COVID-19 on a range of topics including fiscal, legal, statistical, tax and more. FINAL THOUGHT MD Georgieva will be participating in a number of climate-related events next week so stay tuned for those updates. Thank you again very much for your interest in the Weekend Read. We really appreciate your time. If you have any questions, comments or feedback of any kind, please do write me a note.  Sincerely, Rahim Kanani Editor, IMF Weekend Read rkanani@IMF.org

U.S.A.:Honoring the Rosies, visiting a WV coal mine, meatpacking citation issued, job openings increase, and more

U.S. Department of Labor September 11, 2020 Labor Day in Wisconsin Secretary Scalia traveled to Wisconsin with Vice President Mike Pence on Labor Day, where they discussed the United States-Mexico-Canada Agreement. Honoring the Rosies Women who supported America’s war effort during World War II as riveters, welders and other industrial occupations, collectively referred to as “Rosies,” were inducted into the Department’s Labor Hall of Honor this week. Secretary Scalia Visits West Virginia Mine Secretary Scalia visited a mine in West Virginia, where he discussed mine safety, economic recovery and the importance of the coal mining industry to the American economy. Meatpacking Citation Issued OSHA cited Smithfield Packaged Meats Corp. for failing to protect workers from exposure to the coronavirus at its processing facility in Sioux Falls, South Dakota. COVID-19 UPDATES AND RESOURCES Release: OSHA cited the Christus Shreveport-Bossier Health System for failing to protect workers from exposure to the coronavirus PSAs: Video and audio PSAs on coronavirus-related paid leave, proper pay, and agricultural worker safety IN CASE YOU MISSED IT Day of Remembrance The Department recognized September 11 by remembering the lives lost in 2001. #StandDown4Safety Join the 7th annual National Safety Stand-Down to Prevent Falls in Construction, Sept. 14-18, to stop workplace falls and save lives. Back Wages A Florida construction contractor has paid $124,075 in back wages and fringe benefits to 20 workers for violations on a federal construction contract. USMCA Grants The Department will award two $10 million grants to strengthen workers’ rights and increase awareness of labor reforms in Mexico. Indo-Pacific Grants A $4 million grant will fund efforts to strengthen respect for women working in rural sectors of the Indo-Pacific. OSHA Data Released OSHA has released work-related injury and illness data electronically submitted by employers for 2016, 2017 and 2018. STAT OF THE WEEK Job Openings Increase Job openings increased to 6.6 million at the end of July, according to Bureau of Labor Statistics data released this week. The number of job openings for July was greater than at the end of 2019, while layoffs and discharges for the month of July were lower than the 2019 average. COMPLIANCE ASSISTANCE HIGHLIGHT Compliance Assistance Summit On Sept. 14, an online summit, “Advancing Compliance Solutions for Today’s Workplace, Two Years and Counting,” will showcase Department efforts to help employers comply with federal labor laws and inform workers about their rights. LABOR DAY 2020 Read these Labor Day op-eds from Department leaders: Labor Secretary Eugene Scalia: As we continue to fight the virus, don’t forget about jobs Deputy Secretary Patrick Pizzella: U.S. Department of Labor leads the way on ‘Buy American’ MSHA Assistant Secretary David Zatezalo: Serving America’s miners Labor Day and every day OASAM Assistant Secretary Bryan Slater: Labor embraced enterprisewide shared services, now seeing real savings VETS Assistant Secretary John Lowry: A salute to vets and American workers Women’s Bureau Director Laurie Todd-Smith: This Labor Day, we celebrate women’s workplace success and honor the ‘Rosies’ of World War II EBSA Acting Assistant Secretary Jeanne Klinefelter Wilson: Retirement Plans Need to Keep Their Promises. We Make Sure They Do OASP Deputy Assistant Secretary Jonathan Wolfson: Point of View: Cutting red tape helps American workers ODEP Deputy Assistant Secretary Jennifer Sheehy: New federal program being tested in Kansas helps injured workers return to work OSHA Principal Deputy Assistant Secretary Loren Sweatt: OSHA is protecting workers during pandemic

Απόφαση – σταθμό που ανατρέπει τα μέχρι σήμερα δεδομένα για χιλιάδες Έλληνες αγρότες,

Απόφαση – σταθμό που ανατρέπει τα μέχρι σήμερα δεδομένα για χιλιάδες Έλληνες αγρότες,

έλαβε ο Άρειος Πάγος σχετικά με τη δικαστική επίλυση των διαφορών που προκύπτουν ανάμεσα στους αγρότες – δανειολήπτες και στην τελούσα υπό καθεστώς εκκαθάρισης Αγροτική Τράπεζα, δίνοντας έτσι τέλος, στη μέχρι σήμερα αντίθετη τάση που είχε διαμορφωθεί στη νομολογία επιλύοντας ad hoc οριστικά το επίδικο ζήτημα ....

ΠΑΤΉΣΤΕ ΕΔΏ και διαβάστε ολόκληρο το άρθρο:

https://argonafplia.gr/2020/09/11/%CE%B1%CF%80%CF%8C%CF%86%CE%B1%CF%83%CE%B7-%CF%83%CF%84%CE%B1%CE%B8%CE%BC%CF%8C%CF%82-%CE%B3%CE%B9%CE%B1-%CF%84%CE%BF%CF%85%CF%82-%CE%B1%CE%B3%CF%81%CF%8C%CF%84%CE%B5%CF%82-%CE%BF-%CE%AC/

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Νέα από το «Ξεκίνημα»
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Σάββατο 12 Σεπτεμβρίου 2020

ΤΑ ΝΕΑ Σαββατοκύριακο

Ευάγγελος Βενιζέλος

Τάσος Μπάνος ( 1957-2020)

Στις 11 Δεκεμβρίου 2011, στην πιο δύσκολη και περίπλοκη φάση της οικονομικής κρίσης, όταν όλα κρεμόντουσαν από μια κλωστή, οι συνεργάτες μου στο υπουργείο Οικονομικών, με ακούν να εκφράζω την αγωνία και την απογοήτευσή μου. Ο Τάσος Μπάνος μου στέλνει ένα ηλεκτρονικό μήνυμα με μια συμβουλή του Σπινόζα από το Tractatus Theologico- Politicus : «..Sedulo curavi, humanas actiones non ridere, non lugare, neque detestari, sed intelligere...» Σε μετάφραση:  «...επιμελώς φρόντιζε, σχετικώς με τις ανθρώπινες πράξεις, ούτε να γελάς, μήτε να κλαις, ούτε να μισείς. Μόνο να καταλαβαίνεις...»

Λίγες εβδομάδες αργότερα, στην αλλαγή του χρόνου, ξημερώματα της πρωτοχρονιάς του 2012,  στέλνω στους συνεργάτες μου ένα μήνυμα που λέει :

«Στην πέτρα της υπομονής προσμένουμε το θάμα

που ανοίγει τα επουράνια κι είναι όλα.

Σας στέλνω αυτούς τους στίχους του Γ. Σεφέρη, μαζί με  τις ευχές μου ως απάντηση στα απαισιόδοξα σχόλια σας. Αυτά που σας γράφω, τα γράφω για να δοκιμάσω τις αντοχές σας και για να σας πω πως ό,τι κάνουμε το κάνουμε με επίγνωση. Η επίγνωση είναι αυτό που έλειπε και δυστυχώς λείπει ακόμη από τούτο το αλωνάκι».