IMF weekend read

 

Dear maria, In today's edition we focus on the wider economic implications of Russia's invasion of Ukraine, food price inflation, fragile and conflict-affected states, debt, unemployment, hidden assets, and much more.

Ukraine War in Ukraine Reverberates Around World (PHOTO: IMF PHOTO) Analysis of the war’s global economic impact was provided in a blog co-authored by the IMF's Alfred Kammer, Jihad Azour, Abebe Aemro Selassie, Ilan Goldfajn, and Changyong Rhee. “Beyond the suffering and humanitarian crisis from Russia’s invasion of Ukraine, the entire global economy will feel the effects of slower growth and faster inflation.” They identified three main channels through which impacts will flow: -- Higher prices for commodities like food and energy will push up inflation further, in turn eroding the value of incomes and weighing on demand. -- Neighboring economies in particular will grapple with disrupted trade, supply chains, and remittances as well as an historic surge in refugee flows. -- Reduced business confidence and higher investor uncertainty will weigh on asset prices, tightening financial conditions and potentially spurring capital outflows from emerging markets.” "While some effects may not fully come into focus for many years, there are already clear signs that the war and resulting jump in costs for essential commodities will make it harder for policymakers in some countries to strike the delicate balance between containing inflation and supporting the economic recovery from the pandemic," they conclude. The IMF's Abebe Aemro Selassie expanded on the conflict's impact on Africa in an interview with CNBC Africa. Earlier in the week, IMF Managing Director Kristalina Georgieva said in an interview with CBS’s Face the Nation that Russia will fall into a deep recession as sanctions cripple its economy and a slide in the value of the ruble puts pressure on people’s purchasing power. The IMF’s Gita Gopinath elaborated on the economic consequences of Russia’s invasion of Ukraine in an interview with CBC. The IMF disbursed emergency assistance of US$1.4 billion to Ukraine on March 9 under the Rapid Financing Instrument (RFI) to help meet urgent financing needs including to mitigate the economic impact of the war. IMF staff remains closely engaged with the authorities to provide policy support as they continue to design and implement effective crisis mitigation measures. The IMF is also currently working with Moldova, which has requested an augmentation of its existing IMF-supported program. The Fund stands ready to support neighboring and other countries affected by the spillovers of the war through all its relevant instruments. Find all the IMF's statements, remarks and social media posts about the Ukraine conflict here, including recently updated FAQs.   Inflation War-Fueled Surge in Food Prices (PHOTO: IMF PHOTO/YAM G JUN) Global food prices are poised to keep climbing even after jumping to a record in February, placing the heaviest burden on vulnerable populations while adding to headwinds for the global economic recovery, write the IMF’s Christian Bogmans, Jeff Kearns, Andrea Pescatori and Ervin Prifti in a blog published on Wednesday. Food commodity prices rose 23.1 percent last year, the fastest pace in more than a decade, according to inflation-adjusted figures from the United Nations Food and Agriculture Organization. February’s reading was the highest since 1961 for the gauge tracking prices for meat, dairy, cereals, oils, and sugar. Now, the war in Ukraine and sanctions on Russia are upending shipments and possibly production for two of the world’s largest agricultural producers. The two countries account for nearly 30 percent of world wheat exports and 18 percent of corn, most of which is shipped through Black Sea ports that are now closed. Wheat futures traded in Chicago, the global benchmark, recently rose to a record. Price shocks will have worldwide impact, especially on poor households for whom food is a higher share of expenses. Food costs account for 17 percent of consumer spending in advanced economies, but 40 percent in sub-Saharan Africa. Though this region is highly import-dependent for wheat, the grain constitutes only a minor share of the total caloric needs. Read the full blog.   Fragile states Fragile and Conflict-Affected States (PHOTO: IMF PHOTO/STEVE JAFFE) Fragile and conflict-affected states (FCS) are home to almost 1 billion people and face a variety of protracted challenges – from reduced institutional capacity, limited public service delivery, and extreme poverty to forced displacement and war. Fragility and conflict are also linked to trends such as climate change, food insecurity, and persistent gender inequalities. The IMF is stepping up its support for FCS through the adoption of its first FCS Strategy which will provide well-tailored, robust, and longer-term support to its most vulnerable member countries. Key elements of the IMF Strategy for FCS include: -- Greater tailoring of Fund engagement and instruments to the country-specific manifestations of fragility and conflict. The Strategy outlines principles of engagement to ensure that the IMF’s mandate and comparative advantage will be effectively leveraged to help country authorities in FCS achieve better macroeconomic outcomes. -- Closer proximity to our most vulnerable members. As exiting fragility and building resilience take time, the Strategy will lead to an expanded Fund presence in FCS to help country authorities respond swiftly to the economic challenges associated with fragility and conflict through well-tailored support over the long run. -- Enhanced partnerships to amplify the Fund’s impact in FCS. The Strategy spells out how the IMF will work with development, humanitarian, and peace actors that play a key role in helping FCS make sustained progress. Watch a recording of the FCS Strategy launch event, organized in partnership with Devex. The panel discussion focused on the importance of coordinated action in strengthening global support for FCS, and highlighted how macroeconomic policy can contribute to existing efforts to support FCS. Speakers: -- Kristalina Georgieva, Managing Director, IMF -- Ali Alawi, Deputy Prime Minister and Minister of Finance, Iraq -- David Beasley, Executive Director, World Food Programme -- Nicolas Kazadi, Minister of Finance, Democratic Republic of Congo -- Moderated by Raj Kumar, President & Editor-in-Chief, Devex Read our blog on FCS and listen to our podcast. F&D A Fine Balancing Act (ART: PETER REYNOLDS) Before the global financial crisis of 2008, the general consensus was that the most important contribution fiscal policy could make to macroeconomic policy was to avoid becoming a source of instability, the IMF's Vitor Gaspar writes in an article for F&D Magazine. But in response to the pandemic, fiscal policy took on a crucial role in macroeconomic stabilization. As prices and demand plummeted and central banks in many advanced economies were hamstrung by interest rates that could go no lower, fiscal policy took on new importance—extending lifelines to vulnerable households and firms and limiting the impact of business shutdowns on economic activity and employment. With inflation and interest rates on the rise, the issue is becoming how, and how fast, deficits and debt levels will be reduced. There is reason to fear that the burden of policies aimed at reducing deficits and debt, such as spending cuts and tax increases, will fall predominantly on people already hit hardest by the pandemic—such as caregivers, low-wage earners, and less-qualified workers. Read the entire article.   Check out our March Issue of Finance & Development, which focuses on "Rethinking Fiscal: Public Finance and Fairness in a Changed World".   Want to get a print copy delivered to your home or office? Click here to subscribe.

(PHOTO: SIMONKR/ISTOCK BY GETTY IMAGES)   E-commerce in Pandemic Spikes in the share of online spending are dissipating overall, but there's significant variation by industry, the IMF's Prachi Mishra and Antonio Spilimbergo write in a blog co-authored with Joel Alcedo, Bricklin Dwyer (both Mastercard Economics Institute), and Alberto Cavallo (Harvard Business School).

Real Value of Hidden Assets Most governments don't know what their assets are worth because they only account for cash, explains Ian Ball in a podcast. Building on his recent F&D article, he discusses the advantages of a basic accounting exercise that dates back to the time of William the Conqueror.

(PHOTO: IMF)   Essential Reading: Capital Flows Check out our e-Library section on capital flows. It includes IMF research on capital flows related to emerging market and developing economies, monetary policy spillovers, climate shocks, e-government, and more.

Analyze This! Employment In our latest Analyze This! video, the IMF's Romain Duval explains how the job market works and why we’re seeing an increase in unfilled job vacancies.

Heavily reliant on commodity exports, remittances and tourism, the economies of the Caucasus and Central Asia and their financial systems are vulnerable to volatile external shocks. This Chart of the Week by the IMF's Rayah Al-Farah, Klakow Akepanidtaworn and Sanan Mirzayev shows how exposed countries in the region are to such disruptions, which in the past have caused economic downturns and financial distress. Although the situation remains uncertain, the ongoing pandemic and the war in Ukraine could also have a substantial impact.

WEEKLY ROUND-UP 01. IMF Press Briefing The IMF's Gerry Rice answered journalists' questions at Thursday's press briefing. Topics included IMF and international support for Ukraine and the war's economic impact across regions, as well as Argentina, Lebanon, Pakistan, South Africa, Sri Lanka, and Tunisia. The recording is available in English and Spanish. 02. Climate Cooperation Despite COP 26 commitments, there is still an ambition and a policy gap at the global level to keep temperature increases below the 2°C agreed in Paris. Avoiding the worst outcomes of climate change requires an urgent scaling up of climate policies. A new IMF departmental paper analyzes various international mechanisms to scale up global action on climate mitigation and address policy gaps.  03. Nowcasting In times of crisis, traditional measures of economic activity such as GDP are released with too much of a time lag to be of much help to policymakers. The pandemic underscored the importance of “nowcasting” using high-frequency market surveys, sentiment indicators and even Google search results. A new staff paper tells how the IMF’s European Department is developing its nowcasting capabilities. 04. New IMF Online Courses Our free and open online courses now include French and Spanish modules of the Virtual Training to Advance Revenue Administration (Strategic Management) and the French version of our joint course with the World Bank on the Debt Sustainability Framework for Low Income Countries. 130,000 learners have enrolled in the IMF’s Online Learning program, funded by the Government of Japan.

Nick Owen Editor IMF Weekend Read nowen@imf.org   Thank you again very much for your interest in the Weekend Read! Be sure to let us know what issues and trends we should have on our radar.

TTB Newsletter for March 18, 2022

Upcoming TTB Outreach Events March 18, 2022 Importation of Alcohol Beverages of Russian Federation Origin and Export of Alcohol Beverages and Tobacco to Russia and Belarus We recently published frequently asked questions, G12, G13, and T27, to reflect the President’s March 11, 2022 Executive Order (EO), prohibiting the importation of alcohol beverages of Russian Federation origin. The EO also bans the exportation of certain alcohol beverages and tobacco products to Russia or Belarus, or to Russian or Belarusian individuals on the Office of Foreign of Assets Control’s (OFAC) Specially Designated Nationals and Blocked Persons List (SDN List). You may contact OFAC, or the BIS Office of National Security and Technology Transfer Controls (NSTTC) for additional information. See New TTB Alcohol FAQs See New TTB Tobacco FAQ Visit Us at Eastern Winery Exposition! If you plan to attend the Eastern Winery Exposition in Syracuse, New York, come visit us at the TTB table on March 22-24.   We’ll have a TTB team on hand to assist you and try their best to answer your most pressing questions.   So whether you have questions about an application, are wondering if you’re keeping the right records, or just want meet your local investigator, come see our team!   TTB Wine Resources Expanded List of Devices for Proofing Spirits In response to requests by industry members, we recently expanded the list of approved devices for proofing distilled spirits for tax purposes.   TTB G 2014-1, now TTB G 2014-1B, Approval of Alternative Devices for Determination of Proof of Distilled Spirits for Tax Determination Purposes; Guidance and Performance Standards, provides a list of devices TTB has approved for proofing spirits and instructions for requesting additions to the list of approved devices.    The updated guidance adds three devices to the list, so industry members have additional options.   See  TTBGov - Proofing Tutorial for instruction on proofing spirits.   More About Distilled Spirits Proofing Processes U.S. Customs and Border Protection: Commercial Customs Operations Advisory Committee (COAC) Meeting TTB-regulated industries may find this notice of interest.   SOURCE: Federal Register / Vol. 87, No. 50 / Tuesday, March 15, 2022   AGENCY: Department of Homeland Security, U.S. Customs and Border Protection   ACTION: Committee management; notice of Federal Advisory Committee meeting   SUMMARY: The Commercial Customs Operations Advisory Committee (COAC) will hold its quarterly meeting on Thursday, March 31, 2022. The meeting will be open to the public via webinar only. There is no on-site, in-person option for the public to attend this quarterly meeting.   DATES: The COAC will meet on Thursday, March 31, 2022, from 1 - 5 p.m. EDT. Please note that the meeting may close early if the committee has completed its business. Comments must be submitted in writing no later than March 28, 2022.   Read Federal Register Notice TTB Career Opportunities: Supervisory Investigator and Technical Assistant Specialist   Are you interested in a career at an agency that ranks in the top 6% of Best Places to Work in the Federal Government? If yes, consider applying for a job with TTB.     Learn more about TTB's Supervisory Investigator job opportunity at USAJobs.     Learn more about TTB's Technical Assistant Specialist job opportunity at USAJobs.   View All TTB Announcements at USAJobs What's Trending on TTB.gov: Distilled Spirits Penalties for Illegal Distilling Conversion Tables Distilled Spirits Labeling Distilled Spirits Permits Basic Mandatory Labeling Information for Distilled Spirits Upcoming TTB Outreach Activities March 22-24: Eastern Winery Exposition March 31-April 1: 2022 KombuchaKon For More TTB News TTB.gov Home

ΓΙΩΡΓΟΥ ΑΡΒΑΝΙΤΙΔΗ,Βουλευτού Β' Θεσσ/κης newsletter

Ραδιοφωνική συνέντευξη στον FLASH 99.4
Ο Γιώργος Αρβανιτίδης καλεσμένος του Γιάννη Μαγκριώτη στην εκπομπή «Μας Αφορά» στον FLASH 99,4 τοποθετείται για:

-Τη συμμετοχή του στη Διακοινοβουλευτική Διάσκεψη στο Παρίσι

-Τον πόλεμο στην Ουκρανία και τη στάση της Ευρώπης

-Το ρόλο της Τουρκίας στην έκβαση του πολέμου

-Τις επιπτώσεις του πολέμου στην Ελλάδα τόσο γεωπολιτικά όσο και οικονομικά

-Την ενεργειακή κρίση και ακρίβεια που πλήττουν τη χώρα μας

-Τις εξαγγελίες του Πρωθυπουργού για την επιδότηση στα καύσιμα

ΑΚΟΥΣΤΕ ΠΑΡΑΚΑΤΩ ΤΗ ΣΥΝΕΝΤΕΥΞΗ ΤΟΥ ΓΙΩΡΓΟΥ ΑΡΒΑΝΙΤΙΔΗ








Τηλεοπτική συνέντευξη στην τηλεόραση της Βουλής

Ο Γιώργος Αρβανιτίδης καλεσμένος της Αλεξίας Κουλούρη στην εκπομπή «Τι λέει ο Νόμος» στην τηλεόραση της Βουλής σχολιάζει τις εξαγγελίες της Κυβέρνησης για τις νέες επιδοτήσεις και με αφορμή την κύρωση συμβάσεων στον τομέα της ενέργειας, τοποθετείται για την ενεργειακή ακρίβεια, την ενεργειακή επάρκεια και την ενεργειακή αυτονομία.

ΔΕΙΤΕ ΠΑΡΑΚΑΤΩ ΟΛΗ ΤΗ ΣΥΝΕΝΤΕΥΞΗ ΤΟΥ ΓΙΩΡΓΟΥ ΑΡΒΑΝΙΤΙΔΗ





ΑΝΑΦΟΡΑ

Προς τον Υπουργό Περιβάλλοντος και Ενέργειας, κ. Κ. Σκρέκα
Θέμα: Πολυήμερη διακοπή ρεύματος στην Περιστερά Δήμου Θέρμης της Π.Ε. Θεσσαλονίκης

Ο Γιώργος Αρβανιτίδης βουλευτής Β’ Θεσσαλονίκης και Αρμόδιος Τομεάρχης Ενέργειας και Περιβάλλοντος του Κινήματος Αλλαγής με αφορμή την Πολυήμερη διακοπή ρεύματος στην Περιστερά Δήμου Θέρμης της Π.Ε. Θεσσαλονίκης κατέθεσε αναφορά προς τον Υπουργό Περιβάλλοντος και ενέργειας κ.Κ.Σκρέκα.

Όπως χαρακτηριστικά αναφέρει στο κείμενο της αναφοράς του:

Κύριε Υπουργέ,
με την παρούσα Αναφορά, σας επισυνάπτω την από 05.03.2022 αναφορά - καταγγελία του προέδρου της κοινότητας Περιστεράς του Δήμου Θέρμης της Π.Ε. Θεσσαλονίκης, η οποία έχει αποσταλεί στην Εισαγγελία Πρωτοδικών Θεσσαλονίκης και στον ΔΕΔΔΗΕ και στην οποία καταγράφεται αναλυτικά όλο το ιστορικό των διακοπών ηλεκτροδότησης του χωριού, ενώ παράλληλα τίθεται μετ’ επιτάσεως το ζήτημα ελέγχου του τοπικού δικτύου και το ζήτημα των αποζημιώσεων των κατοίκων που υπέστησαν σοβαρές ζημίες και τεράστια ταλαιπωρία από τις συνεχείς και έκτακτες διακοπές ηλεκτροδότησης μεγάλης διάρκειας, ζητώντας να με ενημερώσετε για τις σχετικές σας ενέργειες.




Τ: 2103646051 / 2310570582
g.arvanitidis@parliament.gr
info@arvanitidis.eu
www.arvanitidis.eu

NEA ΔΗΜΟΚΡΑΤΙΑ ανακοινώσεις

 

Αθήνα, 18 Μαρτίου 2022     Από το Γραφείο Τύπου της Νέας Δημοκρατίας εκδόθηκε η ακόλουθη ανακοίνωση: «Ο ΣΥΡΙΖΑ με την ανακοίνωσή του σπεύδει ξανά να αναδειχθεί, σε φλογερό υπερασπιστή του καταδικασμένου για βαρύτατα εγκλήματα Βασίλη Δημάκη, ο οποίος αναζητείται από τις αρχές. Το ίδιο έκανε όλα αυτά τα χρόνια που είχε πάρει υπό την προστασία του τον καταδικασθέντα σε ποινή κάθειρξης 44 ετών για ληστείες, πλαστογραφία και παράνομη οπλοφορία. Το κάνει με κραυγαλέο τρόπο και τώρα που ο κατάδικος, κάνοντας χρήση των ευεργετικών διατάξεων για εκπαιδευτική άδεια, αναζητείται. Μιλώντας στην ανακοίνωσή του ο ΣΥΡΙΖΑ  για “κόλαφο για την κυβέρνηση και το σωφρονιστικό σύστημα” δεν σπεύδει μόνο να δώσει με τον πιο προκλητικό τρόπο, άλλοθι στον κατάδικο, αλλά ζητάει και τα ρέστα από την πολιτεία Η κυβέρνηση θα συνεχίσει τις αλλαγές για ένα σωφρονιστικό σύστημα που θα επιτελεί τους σκοπούς της έννομης τάξης και την σωφρονιστική αποστολή του, με σεβασμό στα δικαιώματα των κρατουμένων. Ο ΣΥΡΙΖΑ που πριν από κάποιους μήνες είχε κάνει σημαία και οργάνωσε διαδηλώσεις σε όλη τη χώρα προς υπεράσπιση των εκβιαστικών αιτημάτων του Κουφοντίνα, συνεχίζει στον ίδιο δρόμο. Οι πολίτες βλέπουν και κρίνουν». Δήλωση του Εκπροσώπου Τύπου της Νέας Δημοκρατίας Τάσου Γαϊτάνη - απάντηση στην ανακοίνωση του ΣΥΡΙΖΑ   «Ο ΣΥΡΙΖΑ με τη γνωστή μέθοδο της μονταζιέρας διαστρεβλώνει τις δηλώσεις μας προκειμένου να υπηρετήσει το λαϊκίστικο αντιπολιτευτικό του αφήγημα. Η κυβέρνηση από την αρχή της ενεργειακής κρίσης έχει υιοθετήσει ένα πακέτο στήριξης που αγγίζει τα 4 δις ευρώ, με στόχο να ενισχύσει την κοινωνία και ειδικά τους πιο ευάλωτους. Ο Πρωθυπουργός τόνισε στο μήνυμα του στους πολίτες, ότι “είναι ώρα η πολιτική να θέσει κανόνες στις αγορές. Και οι εταιρείες με υπερκέρδη από αυτήν τη συγκυρία να αναλάβουν μερίδιο στο κόστος υπέρβασής της”.  Πρότεινε δε, συγκεκριμένο πλαίσιο μέτρων, ενώ η κυβέρνηση έχει θεσμοθετήσει “κόφτη κερδών” ώστε να αποφευχθούν φαινόμενα κερδοσκοπίας από κάποιους που θα επιχειρήσουν να εκμεταλλευθούν μια κρίση με διεθνείς διαστάσεις, για να κερδοσκοπήσουν σε βάρος των πολιτών. Την ίδια στιγμή, οι ελεγκτικοί μηχανισμοί κινούνται για να αντιμετωπίσουν τέτοια φαινόμενα. Η κυβέρνηση κινείται με σχέδιο και μέτρα για την αντιμετώπιση των ανατιμήσεων. Ο ΣΥΡΙΖΑ συνεχίζει το ίδιο βιολί του λαϊκισμού, να υπόσχεται τα πάντα στους πάντες “με ένα νόμο κι ένα άρθρο”».

WTO Gender Research Hub thinks up ways to address gender gaps in trade finance

 

17 Mar 2022 Latest news

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

NEWS ITEM WTO Gender Research Hub thinks up ways to address gender gaps in trade finance Research findings on trade finance are aligned with experiences of women entrepreneurs, according to insights shared during the first Think Up! session of the WTO Gender Research Hub. The event held on 9 March brought together trade finance researchers and civil society representatives to explore solutions to the difficulties women entrepreneurs face in accessing funding. Participants also heard keynote speeches from Ambassador José Valencia of Ecuador and Ambassador Paul Bekkers of the Netherlands. News item   ⟶

Global Supply Chains Forum: Easing Supply Chain Bottlenecks for a Sustainable Future

Date/time:
Monday 21 March, 16:15 Geneva time
Virtual only

With welcome remarks by Dr Ngozi Okonjo-Iweala, WTO Director-General.

Speakers include:  
Rodolphe Saadé, Chairman and CEO, CMA CGM Group
John Denton, Secretary General, International Chamber of Commerce
Pamela Coke-Hamilton, Executive Director, International Trade Centre
Isatou Touray, Vice President, The Republic of The Gambia

The full list of speakers can be accessed here.

You can follow the sessions live on https://youtu.be/ydeAyGYAlyY

Details:
The WTO Secretariat is hosting its first Global Supply Chains Forum. The Forum will bring together WTO members and stakeholders from every part of the supply chain to share perspectives on the underlying causes and trajectory of continued supply chain disruptions, and collectively identify the resources, interventions and innovations needed to ease crippling disruptions, logjams and price hikes. The Forum aims to harness the WTO’s convening power to build the first 360-degree picture of the challenges and opportunities facing supply chain partners of all geographies, sectors and sizes, and begin the work of shaping sustainable, inclusive solutions.

More information can be found here: https://www.wto.org/english/news_e/events_e/gscforum2022_e.htm

Best regards,
WTO Webmaster

Centers for Disease Control and Prevention:ACIP: Vaccine Recommendation Updates

 

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The following materials have been updated to reflect the latest ACIP recommendation. Use of Moderna COVID-19 Vaccine in Persons Aged ≥18 Years and Considerations for Extended Intervals for Administration of Primary Series Doses of mRNA COVID-19 Vaccines — United States, February 2022

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U.S.A.'s interesting latest news

 

U.S. Department of Labor

March 18, 2022

Equal Pay Day Equal Pay Day represents the number of extra days women must work to be paid what men received the previous year. This year on Equal Pay Day, the White House announced steps the administration is taking to advance pay equity and promote women’s economic security. Secretary of Labor Marty Walsh participated in an event at the U.S. Capitol highlighting the wage gap, and we issued a report on the impact of racial and gender inequality on women workers. In addition, our Office of Federal Contract Compliance Programs issued a directive that aims to help federal contractors address and prevent pay inequality. Read the impact report and related materials Read the White House fact sheet Watch the Equal Pay Day event at the Capitol Learn about the new pay equity audit directive The future of work In Austin this week for SXSW, Secretary Walsh showed off his cowboy boots and spoke with CNN's Poppy Harlow and Politico's Daniel Lippman about worker empowerment, our historic economic recovery and the future of work. American Rescue Plan funds career pathways for America’s workers