IMF Weekend Read

 

Dear maria, In today's edition we focus on the long recovery for Latin America and the Caribbean, the pandemic's dangerous divergence effect, Nigeria's future, the impact of e-government on investment, feminist activism, why distribution matters, combating corruption, and more.  But first, happy Lunar New Year to all who celebrate! Click here to watch IMF Managing Director Kristalina Georgieva extend her warmest greetings for a healthy, safe, and prosperous Year of the Ox. A WINDING ROAD TO RECOVERY FOR LATIN AMERICA, CARIBBEAN Latin America and Caribbean economies face a resurging virus that threatens to thwart an uneven recovery, increase COVID-19 cases and deaths, and plunge more people into poverty, Alejandro Werner, the director of the IMF's Western Hemisphere Department, writes in a blog with the IMF's Anna Ivanova and Takuji Komatsuzaki. The IMF revised its regional 2021 growth forecast upwards to 4.1 percent (from 3.6 percent in October), based on the stronger than expected performance in 2020, an expectation of expanding vaccination efforts, better growth outlook for the United States, and higher prices of some commodities. But the region faces strong headwinds as more countries reintroduce strict containment measures. A slow recovery: The region is forecasted to go back to its pre-pandemic levels of output only in 2023, and GDP per capita in 2025, later than other parts of the world. The crisis had a disproportionately large impact on employment with losses concentrated among women, young, informal and less educated workers—with consequences for social indicators. The way forward: Countries should continue to prioritize spending on healthcare, including vaccination and testing. Support for vulnerable sectors most affected by the pandemic should continue as well. Removing too much support too early could jeopardize what is already an uncertain recovery. The pandemic hit Latin America and Caribbean harder because of its many inherent structural fragilities (for example, more people working in sectors that require close proximity and less in which teleworking is feasible). The region has paid a high toll in terms of infections and deaths relative to its population. The IMF has been supporting Latin America and the Caribbean with policy advice, technical assistance and financing, providing over $66 billion to 21 countries, including contingency lines. This amounts to over two thirds of the emergency liquidity support the IMF extended globally. Watch the press briefing about the latest regional economic outlook update for Latin America and the Caribbean here.  You can also listen to Werner discuss the outlook for the region in an event with the Americas Society/Council of the Americas. AVERTING A DIVERGENCE DISASTER The world must do everything in its power to reverse a dangerous and ever-widening gap that has emerged between rich and poor countries as a result of the pandemic, IMF Managing Director Kristalina Georgieva stressed during a recent media roundtable. "We must do everything in our power to reverse this dangerous divergence—especially because some parts of the world are moving to the new climate and digital economy, and large parts will be left behind in getting there. This is a major risk and potential historic missed opportunity!" she said in remarks at the press event. The distribution of fiscal support measures and now vaccines is dramatically different across countries. As the United States ramps up vaccines to end the health crisis, only a handful of African nations have launched vaccination campaigns. The depth of divergence: Even though the IMF has forecasted 5.5 percent growth for the world in 2021, 150 economies are not going to reach their pre-pandemic level this year. There will still be 110 economies that won't reach their pre-pandemic level in 2022. About 50 percent of emerging markets and developing economies that were converging towards advanced economies per capita income over the last decade are expected to diverge over the 2020–2022 period, the MD highlighted. "You can call it the lost decade. It may be a lost generation," she warned. Three 'R's: The MD laid out three key priorities: winning the race between a mutating virus and vaccines, boosting the resolve of policymakers to continue support until the recovery is durably underway, and revitalizing international cooperation when it comes to easing the debt burden on emerging markets and low-income countries. "One thing is clear: future generations will not look kindly on those who underestimate the dangerous divergence facing us today," she said. A consequential year: Speaking at the Warwick Economic Summit to about 2000 students from 60 countries, IMF Deputy Managing Director Antoinette Sayeh reiterated the MD's key message on divergence. "2021 can be the most consequential year of our lifetimes," she said. "If we can come together and sow the right policy seeds today, we can exit the crisis with minimal scarring and build the foundation of a 21st century economy." UPDATE ON GLOBAL OUTLOOK IMF Chief Economist Gita Gopinath spoke this week with students at the American University Cairo, where she discussed the key findings of the recent World Economic Outlook Update, the race between the virus and vaccines, policy response, growing inequality between and within countries, green and digital recovery, and how to achieve a job-rich recovery especially for youth.   Watch the event here. NIGERIA AT A CRITICAL JUNCTURE Nigeria--Africa's largest economy--faces a challenging recovery as it entered the pandemic already with falling per capita income, high inflation, and governance challenges. However, certain policy adjustments and reforms can help set the country on a more sustainable path to recovery, the IMF's Ari Aisen, Jesmin Rahman, and Jiaxiong Yao write in a recent Country Focus article. Moving toward a unified exchange rate, taking measures to raise more revenue in the near- and medium-term, and diversifying the economy toward more export-oriented and less oil-dependence could help the economy emerge from the crisis stronger. The policy advice came after the IMF concluded its regular economic assessment of the country, known as an Article IV consultation. E-GOVERNMENT'S IMPACT The ability to renew a driver's license or passport, pay a tax bill, or easily access government data easily online can lead to a more efficient and transparent government. New IMF staff research shows that "e-government" sources can actually make an economy more attractive to foreign investors. In a new IMFBlog, a review of foreign direct investment inflows in 178 host countries over a period of roughly 16 years finds that the presence of e-government services appears to stimulate the inflow of foreign direct investment. Specifically, countries that implement and adopt strong information and communication technologies, regardless of their level of development, are found to attract more inflows compared to countries with weaker internet access, the IMF's Ali Al-Sadiq writes in the blog. Want to find out more? Read the full blog here. CURBING CORRUPTION How can strong governance of economic institutions curb corruption? What reforms can be undertaken to promote inclusive growth and ensure government spending is reaching those who need it? And what is the role of digitalization in facilitating these efforts? Listen to Zeine Zeidane, deputy director of the IMF's Middle East and Central Asia Department, and Qazaq TV host Lyazzat Shatayeva discuss these issues and how fighting corruption can help shape a successful post-pandemic recovery. Watch the 40-minute event here. Mark your calendar: IMF Middle East and Central Asia Department Director Jihad Azour will discuss the outlook for the region at two virtual events next week. The first hosted by the Wilson Center will take place on Feb. 16 at 10 a.m. EST. A second event hosted by the Carnegie Middle East Center on Feb. 18 at 8 a.m. EST will also discuss where the region's economy is headed. PODCAST: FEMINIST ACTIVISM TO CLOSE THE GENDER GAP Global disparities between women and men have narrowed over the twentieth century but despite the strong evidence of the benefits of closing the gender gap, progress has been slow in many parts of the world. Alice Evans, a lecturer at King's College London, has studied women movements across the globe and written extensively on the topic. She was invited by the IMF Africa Department to talk about how feminist activism helps women overcome barriers to greater economic autonomy and is key to achieving gender equality. In this podcast, Evans says feminist activism thrives in societies with female mobility, economic development, and labor-intensive growth. Listen to the full podcast here. DISTRIBUTION MATTERS  Economics can’t avoid distributional issues—it must make room for insights from other disciplines, Binyamin Applebaum writes in our latest issue of F&D on the future of work and opportunity. "Just as economists learned to incorporate the growth of knowledge into their understanding of the world, just as they have—for the most part—accepted the need to wrestle with the imperfections of financial markets, so too they now are grappling in earnest with the complexities of distributional questions," he writes. Applebaum goes on to describe how doubts about the importance of distributional issues have come at the expense of minorities, in particular. Read the full piece here or download the PDF. IMF AROUND THE WORLD The IMF Executive Board this week concluded an economic assessment or Article IV consultation with Russia, where directors called on the authorities to stand ready to extend support if needed. Click here to read the transcript of Russia's Article IV press briefing. During a similar consultation with Iraq this week, directors emphasized the importance of reducing fiscal imbalances. In addition to announcing the conclusion of its Article IV consultation with Nigeria, the board also announced the conclusion of its consultation with Poland. The board on Friday is scheduled to meet for Article IV consultations for Indonesia, Paraguay, and Kosovo. IMF staff concluded a virtual staff visit to Barbados this week where the pandemic continues to have a major impact on the island nation's economy.  IMF LENDING Check out our global policy tracker to help our member countries be more aware of the experiences of others in combating COVID-19. We are also 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, 80 countries have been approved for emergency financing, totaling over US$32 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 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, Adam Behsudi Deputy Editor, IMF Weekend Read abehsudi@IMF.org

WORLD HEALTH ORGANIZATION:latest on COVID-19

Latest on COVID-19 Vaccines explained If you have had COVID-19, should you still get vaccinated? Why are we not vaccinating children under 16? WHO’s Chief Scientist Dr Soumya Swaminathan explains these and other vaccine related questions in Science in 5. Top questions about the COVID-19 vaccines answered Danielle Bernstein, influencer, fashion designer and writer, asked questions to WHO's Dr Kate O'Brien about COVID-19 vaccines and their safety. Watch the conversation here! What you need to know about the Oxford/AstraZeneca vaccine How efficacious is the vaccine? Is it safe? Who can and who can't take it? Find out! In the COVID-19 vaccine race, we either win together or lose together WHO and UNICEF call on leaders to look beyond their borders and employ a vaccine strategy that can actually end the pandemic and limit variants. How WHO and partners continue to fight COVID-19 around the world WHO is tirelessly working towards equitable access of the new vaccines and continues to provide support in many other ways to countries all over the world. More Info on WHO’s response to the pandemic Other hot topics Year of the Health and Care Workers 2021 Protect. Invest. Together. 2021 has been designated as the International Year of Health and Care Workers in appreciation and gratitude for their unwavering dedication in the fight against COVID-19. We are calling on your support to ensure that our health and care workforces are supported, protected, motivated and equipped to deliver safe health care at all times. Find out more

WTO update

 

12 Feb 2021 Latest news

Dear maria CHADZIDAKIS VAVOURANAKIS, Below are the news items published today on the WTO public website

NEWS ITEM WTO negotiators undertake intensive preparatory work as agriculture talks resume At a meeting of the Committee on Agriculture in Special Session on 5 February, WTO members discussed the latest reports from “facilitators” covering seven topics: domestic support, market access, export competition, export restrictions, cotton, public stockholding and the special safeguard mechanism. The Chair of the talks, Ambassador Gloria Abraham Peralta (Costa Rica), said the facilitator-led process was an essential phase in the run-up to the 12th Ministerial Conference (MC12) and encouraged members to contribute new ideas in preparation for more comprehensive negotiations. News item   ⟶

NEWS ITEM Chair calls dedicated meetings to solve impasse on special treatment for developing countries At a meeting on 8 February, the Chair of the trade and development negotiations, Ambassador Kadra Ahmed Hassan of Dijbouti, encouraged WTO members to find common ground on strengthening special treatment for developing countries. The Chair called on delegations to “show flexibility” and “find a new approach” in discussing the proposals on the table in a series of meetings over the coming weeks. News item   ⟶

"δρόμος ΤΗΣ ΑΡΙΣΤΕΡΑΣ"..

Στον Δρόμο που κυκλοφορεί το Σάββατο 13 Φεβρουαρίου...


Δημοκρατία υπό το μηδέν
Άριστη μόνο στην καταστολή η κυβέρνηση ● Σκανδαλώδης προπαγάνδα από τα «μπουκωμένα» ΜΜΕ ● Αντί ουσιαστικών μέτρων, διαρκείς παλινωδίες και υποκρισία ● Τέλος ανοσίας από την κοινωνία








editorial
Το γαρ πολύ του περιορισμού, τι γεννά;

Το γαρ πολύ του έρωτα γεννά παραφροσύνη, λέει το γνωστό τραγούδι. Αλλά, αν και λίγο πριν... του Αγίου Βαλεντίνου, η βδομάδα που πέρασε γέννησε περισσότερο περιορισμό και εγκλεισμό. Όλα στο όνομα της προστασίας της υγείας, άλλα οι περισσότεροι πλέον αντιλαμβάνονται ότι τα μέτρα είναι άστοχα, τυχάρπαστα, μόνο πολιτικά εξηγήσιμα και αποσκοπούν απλώς στον κέρδισμα χρόνου και τον φρονηματισμό.

Διαβάστε όλο το editorial


ΑΦΙΕΡΩΜΑ
Κωστής Μοσκώφ:
Δομές και Πράξη στην Ελληνική Ιστορία


ΤΟ ΘΕΜΑ
Γιουχάισμα, ντομάτες...Τι έχει αλλάξει;

ΠΟΛΙΤΙΚΗ
Παιδεία, όπως Υγεία, Δημοκρατία, Πολιτισμός

ΑΝΤΑΠΟΚΡΙΣΗ
του Κώστα Βενιζέλου
Κύπρος: «Σημαδεμένη τράπουλα»

ΔΙΕΘΝΗ
«Πανδημοκρατική» ιταλική εκτροπή

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United States Department of Labor :update

 

U.S. Department of Labor February 12, 2021 Combating Fraud The department is providing $49 million in grants to help 28 states and territories combat unemployment insurance fraud. A More Inclusive Economy With the unemployment rate at 6.3%, many working families are still in crisis. Our new chief economist shares how a more inclusive economy could benefit all Americans. Disaster Recovery Grants An additional $2,935,100 in grant funding will help support continued employment in California for disaster-relief cleanup and recovery after severe winter storms in 2019. Improving Investment Advice Our Employee Benefits Security Administration has confirmed that an exemption for investment advice fiduciaries will go into effect as scheduled on Feb. 16, 2021. Military Spouse Workshops A new monthly series of free career workshops will provide employment assistance to transitioning military spouses. IN CASE YOU MISSED IT Prevailing Wages A federal contractor working at Nevada’s Tonopah Test Range has paid $293,051 in back wages and fringe benefits to 69 employees after a department investigation. Wages Restored The owner of eight residential care facilities in California will pay $135,092 in back wages to 56 employees and $27,872 in civil penalties for minimum wage and overtime violations. Fair Labor Grants The department issued three grants to fight labor abuses around the world. $4.5 million to reduce child labor in Madagascar’s mica-producing communities $8 million to combat child labor in Côte d’Ivoire and Ghana’s cocoa industries $8 million to trace supply chains in India, Pakistan and the Democratic Republic of the Congo Overtime Enforcement An Ohio health care service provider has paid $92,275 in back wages after investigators found it regularly failed to pay its employees overtime wages. Embezzlement Sentence A federal court in Texas has sentenced a former train engineers’ union secretary-treasurer to six months incarceration for embezzlement, and ordered him to pay $61,386 in restitution. Questions? Contact Us

ΚΩΣΤΗΣ ΧΑΤΖΗΔΑΚΗΣ:πρόσφατη δραστηριότητα του ΥΠΟΥΡΓΟΥ ΕΡΓΑΣΙΑΣ...

Τελευταία νέα

Φεβρουάριος 13, 2021
Δεν αυξάνονται όρια ηλικίας και δεν κόβονται επιδόματα - συνέντευξη στην εφημερίδα ΠΑΡΑΠΟΛΙΤΙΚΑ
«Η εθνική σύνταξη θα καταβάλλεται αμέσως μετά την αίτηση» δηλώνει στα «Π» ο υπουργός Εργασίας, Κωστής Χατζηδάκης, προσθέτοντας ότι χαρακτηριστικός πυλώνας της στρατηγικής της Κυβέρνησης στην πανδημία είναι «πρώτα ο άνθρωπος». Στα μέσα Απριλίου θα ξεκινήσει να καταβάλλεται η εθνική σύνταξη που θα παίρνουν δηλαδή προσωρινά όλοι όσοι κάνουν αίτηση συνταξιοδότησης μέχρι να βγει η σύνταξή τους. Αυτό αποκαλύπτει στα «Π» ο υπουργός Εργασίας Κωστής Χατζηδάκης ο οποίος τονίζει ότι την επόμενη μέρα της πανδημίας και των κυβερνητικών μέτρων στήριξης θα…περισσότερα

Φεβρουάριος 12, 2021
Χωρίς γραφειοκρατικές καθυστερήσεις η καταβολή της εθνικής σύνταξης – Άμεσα στη Βουλή η τροπολογία – 1,7 εκατ. πολίτες επωφελούνται από τα μέτρα για την αντιμετώπιση της πανδημίας
Τους βασικούς άξονες των ρυθμίσεων για τα εργασιακά, το ασφαλιστικό, τον ΕΦΚΑ και τις εκκρεμείς συντάξεις, καθώς και της πολιτικής για τη στήριξη των ατόμων με αναπηρία και την αναβάθμιση της κατάρτισης παρουσίασε ο υπουργός Εργασίας και Κοινωνικών Υποθέσεων, Κωστής Χατζηδάκης. Μιλώντας σήμερα στη Βουλή ο κ. Χατζηδάκης έδωσε συνολική απάντηση στις αιτιάσεις βουλευτών του ΣΥΡΙΖΑ στους οποίους καταλόγισε έλλειψη επαφής με την πραγματικότητα. «Είστε στον κόσμο του ΣΥΡΙΖΑ και θα παραμείνετε εκεί, όπως θα παραμείνετε και στα έδρανα της…περισσότερα

Φεβρουάριος 12, 2021
Παρατείνονται έως το τέλος τους έτους οι ασφαλιστικές εισφορές επιχειρήσεων και ελεύθερων επαγγελματιών
Την εκ νέου παράταση έως και τις 31/12/2021 της πληρωμής των ασφαλιστικών εισφορών, για επιχειρήσεις και ελεύθερους επαγγελματίες, που αφορούσαν στην πρώτη περίοδο της καραντίνας και για τις οποίες είχε δοθεί παράταση πληρωμής μέχρι τις 30 Απριλίου 2021, ανακοίνωσε σήμερα από το βήμα της Βουλής ο υπουργός Εργασίας και Κοινωνικών Υποθέσεων, Κωστής Χατζηδάκης. Παράλληλα εξήγγειλε ένα ειδικό πλαίσιο για την αποπληρωμή των οφειλών αυτών, που θα θεσμοθετηθεί με νομοθετική ρύθμιση. Ολόκληρη η δήλωση του κ. Χατζηδάκη: «Εδώ και ένα χρόνο στηρίξαμε και…περισσότερα

Φεβρουάριος 11, 2021
Η μεταρρύθμιση του δημόσιου συστήματος επικουρικής ασφάλισης θα ενισχύσει την προσωπική αποταμίευση - Ομιλία στο συνέδριο της ΕΛΕΤΕΑ «Η επόμενη ημέρα της Επαγγελματικής Ασφάλισης: Προκλήσεις και Αναπτυξιακές Προοπτικές»
«Η μεταρρύθμιση του συστήματος των επικουρικών συντάξεων για τους νέους εργαζομένους –με εισαγωγή κεφαλαιοποιητικών στοιχείων στον πρώτο, δημόσιο πυλώνα του συστήματος- θα φέρει πιο κοντά ένα μεγάλο μέρος του πληθυσμού στην έννοια της προσωπικής αποταμίευσης και της μακροπρόθεσμης επένδυσης. Θα εκπαιδεύσει τους εργαζόμενους και θα «μπολιάσει» την κοινωνία με την ιδέα της προσωπικής συνταξιοδοτικής αποταμίευσης, και αυτό θα ωφελήσει την ανάπτυξη και του δεύτερου πυλώνα του ασφαλιστικού συστήματος, που στηρίζεται στα ταμεία επαγγελματικής…περισσότερα

Ένας χρόνος σκληρής δουλειάς και μεταρρυθμίσεων στο Υπουργείο Περιβάλλοντος και Ενέργειας

https://youtu.be/zQeLUeJMSLQ

ΣΤΥΛΙΑΝΟΣ ΠΕΤΣΑΣ,Αν.Υπ.Εσωτερικών:παραίνεση στους πολίτες εν όψει"Μήδειας"

Stelios Petsas
·
Ενόψει της επικείμενης κακοκαιρίας «Μήδεια» με επιστολή μου στους Δήμους και τις Περιφέρειες της χώρας τους καλώ να διασφαλισθεί ιδίως:
-Η ύπαρξη επαρκών θερμαινόμενων χώρων για αστέγους και η δυνατότητα εξυπηρέτησής τους.
-Η απρόσκοπτη πρόσβαση των πολιτών στα κατά τόπους Νοσοκομεία, Κέντρα Υγείας και λοιπές μονάδες υγείας.
-H αξιοποίηση κάθε πρόσφορου μέσου για τη μεταφορά πολιτών προς και από τα εμβολιαστικά κέντρα, εφόσον παρίσταται ανάγκη.
-Η διάθεση επαρκούς ποσότητας σε αλάτι σε όλους τους Δήμους για την εξυπηρέτηση και προστασία των πολιτών.
Προτρέπω όλους τους πολίτες να λαμβάνουν μέτρα αυτοπροστασίας και να ακολουθούν τις οδηγίες της Γενικής Γραμματείας Πολιτικής Προστασίας.