THE WHITE HOUSE's news

REAL NEWS PRESIDENT TRUMP DOESN'T WANT YOU TO MISS August Jobs Growth Tops Expectations, Unemployment Holds Near 18-Year Low -Fox Business “The U.S. jobs market is humming along, with hiring picking up in August and paychecks growing [while] the unemployment rate held steady,” Leia Klingel reports. “Payrolls increased by 201,000 in August and the unemployment rate stayed at 3.9 percent.” Bar Association Lauds Kavanaugh: 'What We Saw Was an Allegiance to the Law' -The Washington Times “Judge Brett Kavanaugh is not only qualified to sit on the Supreme Court but is at the ‘top of the stream,’ the American Bar Association told senators Friday, delivering a powerful statement of support for President Trump’s nominee,” Alex Swoyer reports.“The ABA also shot down Democrats’ charges that there was a pattern of conservative bias in the judge’s rulings,” she writes. Jobs Report Beats as Wage Growth Soars at its Fastest Pace Since the Great Recession -Business Insider “US employers added more jobs than forecast in August, and wages increased at their fastest pace since the Great Recession, a government report showed on Friday,” Akin Oyedele reports. “August was the 95th consecutive month in which American employers hired more people than were fired, and there's never been a longer streak.” Layoffs Just Reached a Half-Century Low -The Wall Street Journal “The number of Americans filing applications for new unemployment benefits fell at the end of August to a nearly five-decade low,” Sharon Nunn reports in The Wall Street Journal. “Initial jobless claims, a proxy for layoffs across the U.S., declined to a seasonally adjusted 203,000 in the last week of August, the Labor Department said Thursday.” American Manufacturers Growing at Fastest Pace in 14 years, ISM Finds -MarketWatch “American manufacturers are on a roll: Business conditions surged in August to a 14-year high, according to a survey of industry executives,” Jeffry Bartash writes. “The Institute for Supply Management said its manufacturing index jumped to a 14-year high of 61.3% last month from 58.1% in July.” Democrats' Kavanaugh Tantrums Are an Embarrassment -Investor’s Business Daily “Any doubt that Democrats are desperate to stall Judge Brett Kavanaugh's appointment to the Supreme Court ended Tuesday, when they made a mockery of the confirmation hearings,” the Investor’s Business Daily editorial board writes. “This was nothing more than — bad — political theater.” Happy in Their Work -The Wall Street Journal The Wall Street Journal editorial board writes that “blue-collar workers may be the most optimistic folks in America. Eighty-five percent say they see their lives heading in the right direction,” according to a new Harris Poll. “Seventy percent agree ‘the American Dream is alive for people like me,’ and among those who are parents 88% agree with the statement that ‘my children will have a better future than I will.’” President Donald J. Trump Wants This to be a New Year of Shalom, Salaam, Peace -Jewish Telegraphic Agency Special Representative for International Negotiations Jason Greenblatt writes that peace for the Middle East is within grasp, but Palestinian leadership has refused to engage in talks since “President Trump made his bold, courageous and historic decision to recognize the reality that Jerusalem has been and will remain the capital of Israel. The leadership’s unwillingness to engage is disappointing and only hurts the Palestinian people that they claim to serve.” The Trump Administration is Ready to Help California Meet Wildfire Threat -The Sacramento Bee Secretary of the Interior Ryan Zinke and Secretary of Agriculture Sonny Perdue write that the day the Carr Fire started, FEMA approved a grant to help California with firefighting costs. "There is no denying that fires have been a part of Earth’s history since forests first flourished on the planet," they write. "What we can control is how we prepare and respond to them." Layoffs Just Reached a Half-Century Low “The number of Americans filing applications for new unemployment benefits fell at the end of August to a nearly five-decade low,” Sharon Nunn reports in The Wall Street Journal. “Initial jobless claims, a proxy for layoffs across the U.S., declined to a seasonally adjusted 203,000 in the last week of August, the Labor Department said Thursday.” Click here to read more. In The Dallas Morning News, Senators John Cornyn (R-TX) and Ted Cruz (R-TX) write that Democrats have stooped to a new low with their antics against Judge Brett Kavanaugh. “We are both lawyers who have argued before the U.S. Supreme Court,” the Senators explain. “We know when a black robe fits. When it comes to our nation's highest court, Kavanaugh will wear it proudly, and he will wear it well, as he makes careful, cogent decisions that impact the history of our nation.” “A nominee with 12 years of service on the second highest court in the land, authoring 308 opinions, earning the highest rating from the American Bar Association, acquitting himself beautifully during long hours of senatorial grilling while displaying class, calm, intellect and good humor, Judge Kavanaugh’s confirmation was never at any risk,” Matt Mackowiak argues in The Washington Times. In The Daily Signal, foreign policy experts Brett Schaefer and James Phillips write that President Trump made the right call by ending funding for the U.N.’s Palestinian aid organization. “Previous administrations let the fear of the unknown lead them to continue support in the face of ever-more implacable Palestinian demands and mounting evidence that U.S. taxpayer dollars were being used indirectly or diverted to support Palestinian extremism and violence.” “Americans are rightly concerned that Big Tech companies in Silicon Valley have an outsized influence over the news and opinions we see on social media platforms and in Google searches,” Paula Bolyard writes in PJ Media. “A study released today from GovPredict shows that more than 90 percent of political donations by Alphabet [Google’s parent company] employees went to Democrats.” The White House • September 6, 2018 The latest Trump Economy myth: Wages are stagnant The Trump Administration’s critics are in a bind: During the 2016 election, many claimed that then-candidate Donald J. Trump’s economic policies wouldn’t work—in fact, that they would likely trigger a major recession. Nearly a year and a half into his term, the results are undeniable. Nearly 4 million jobs have been created since the election, including 400,000 in manufacturing. New unemployment claims recently hit a 49-year low. Almost 3.9 million Americans have been lifted off food stamps. The economy is on track to hit its highest annual average growth rate in more than 13 years. Looking for a new talking point, the left found one: Jobs, stocks, and economic growth may be soaring, but pay is not. “Worker wages remain stagnant,” ThinkProgress declared in July. Except pay isn’t stagnant—not by a longshot. A new report from the Council of Economic Advisers this week explains the origins of that misleading stat. According to the CEA, official wage growth estimates often ignore key parts of the real compensation that workers receive. Among other problems, these measures exclude the value of crucial benefits such as health insurance, taxes, and paid leave. Real wage compensation has grown by 1.4 percent over the past year, well above inflation growth. CEA’s estimate translates to more than $1,000 of additional income each year for the average American household. Get the facts: American workers are seeing bigger paychecks    Read the full report: How much are workers really getting paid? Democrats’ double standard on Judge Kavanaugh Flash back to June 2010: Solicitor General Elena Kagan appeared before the Democratic-majority Senate for her confirmation hearing to the U.S. Supreme Court. “The Senate did not demand that the Obama administration provide the tens of thousands of pages from Elena Kagan’s tenure as Solicitor General,” Ethics and Public Policy Center President Ed Whelan writes in National Review. “Never mind that Kagan, in stark contrast to Kavanaugh, had zero judicial experience and that her SG records would have been the materials most probative of her legal thinking,” Whelan continues. Naturally, Senate Democrats should take the same principled stand for executive privilege when examining records for Judge Brett Kavanaugh. Instead, less than one minute into this week’s confirmation hearing, Democrats began calling to adjourn the session altogether, citing insufficient information about the nominee. In fact, “the Judiciary Committee has received the most comprehensive set of documents ever provided by a nominee to the Supreme Court, receiving more executive branch documents than the past five Supreme Court nominees combined,” Sen. Thom Tillis (R-NC) wrote yesterday. “These documents are in addition to the most relevant portion of Kavanaugh’s extensive record; namely, the 307 opinions he authored as a judge on the U.S. Court of Appeals for the District of Columbia Circuit,” Sen. Tillis added. “Senate Democrats’ Disingenuous Double Standard” Something to share: The New York Times on Kavanaugh vs. Kagan Photo of the Day Official White House Photo by Shealah Craighead President Donald J. Trump departs from the South Lawn of the White House | September 6, 2018

RUSSIA's latest: Meeting with President of Iran Hassan Rouhani and President of Turkey Recep Tayyip Erdogan

Meeting with President of Iran Hassan Rouhani and President of Turkey Recep Tayyip Erdogan


Vladimir Putin took part in the third trilateral meeting of the heads of state, guarantors of the Astana process for facilitating the Syrian peace settlement.
September 7, 2018
15:15
Tehran






Meeting with President of Iran Hassan Rouhani and President of Turkey Recep Tayyip Erdogan.

The Presidents of Russia, Iran and Turkey discussed issues related to long-term normalisation of the situation in Syria, in particular, a set of additional measures to finally eradicate the stronghold of international terrorism, promote the political settlement process and solve humanitarian issues, including the creation of necessary conditions for the return of refugees and internally displaced persons.

Following the summit, Vladimir Putin, Hassan Rouhani and Recep Tayyip Erdogan adopted a Joint Statement. They also gave a joint news conference.

* * *

Speech at the meeting with President of Iran Hassan Rouhani and President of Turkey Recep Tayyip Erdogan

President of Russia Vladimir Putin: President Rouhani, President Erdogan, colleagues,

First, I would like to thank Mr Rouhani for the invitation to hold our trilateral meeting here in Tehran to discuss further joint steps by Turkey, Iran and Russia related to Syria.

Let me note that the decisions made at the previous summits of the states–guarantors of the Astana process are being successfully implemented.

We have made substantive progress in providing long-term normalisation in Syria. The stronghold of terrorism has almost been eradicated. More than 95 percent of Syrian territory has been liberated, 141 residential areas.

Currently, the remaining extremist groups are concentrated in the de-escalation zone in Idlib province.

Terrorists are making attempts to torpedo the ceasefire, and, moreover, to prepare and carry out various provocations, including those that involve chemical weapons.

Nevertheless, the successful implementation of our joint agreements has allowed us to make great strides towards a political settlement. We have taken concrete steps on intra-Syrian reconciliation, above all on site.

We can say with confidence that all the opportunities have been created for Syrians to determine the future of their country themselves.

In this context, I propose discussing further plans to implement step by step the decisions of the Syrian National Dialogue Congress held in Sochi this January. First of all, I am referring to establishing and launching the Constitutional Committee in Geneva, under of the auspices of the United Nations.

To achieve stable normalization it is necessary to facilitate the improvement of the socio-economic and humanitarian situation in Syria. Peaceful life is being gradually restored, security is being enhanced and civilian employment is growing on the territories returned to Syrian government control.

In this context, Russia proposed an initiative on international assistance in the return of the refugees and internally displaced persons to Syria. We are pleased to say that this initiative enjoys support from our Iranian and Turkish partners.

I would like to mention that along with the Centre for Refugee Reception, Allocation and Accommodation in Damascus, Moscow has established Interdepartmental Coordinating Headquarters. In addition, checkpoints have been opened on the border with Jordan and Lebanon. Over 15,000 people have returned home in a month and a half.

Russia is directly helping Syria on a regular basis by delivering food, medicines and other cargo to areas that were the hardest hit by military actions.

Overall it would be useful to be consistent in our joint actions in the humanitarian area so as to help Syria rise from ruins, restore its industry, agriculture and infrastructure, thereby making it possible for the Syrians to return home in large numbers.

Colleagues, let me repeat, that due to the painstaking efforts of Russia, Iran and Turkey, Syria is seeing impressive progress. I am confident that today’s talks will be productive, while the adopted decisions will make a tangible contribution to ensuring a final settlement in the Syrian Arab Republic.

Thank you for your attention.


Moscow Financial Forum
6 September 2018 16:00 Manege Central Exhibition Hall, Moscow


Dmitry Medvedev gave a speech at the plenary session of the forum titled “Finances for Development: A New Platform for Stable and Balanced Relationships”

The Moscow Financial Forum is a unique platform for the professional discussion of Russia's financial policy. The mission of the Forum is to search for solutions that will make the Russian economy more competitive.

The Moscow Financial Forum was first held in the capital on September 23, 2016; since then, it has become a tradition for financial analysts to hold annual meetings in September to discuss topical issues and search for effective ways to tackle the financial issues facing the Russian economy.

This year the discussion will focus on mechanisms to achieve the targets set in the Executive Order on National Goals and Strategic Objectives of the Russian Federation until 2024, signed by the President in May of this year.

Excerpts from Dmitry Medvedev’s remarks at the forum’s plenary session:






Moscow Financial Forum

Good afternoon, ladies and gentlemen.

I cordially greet everyone here at the Moscow Financial Forum. This is already the third forum and it is gradually becoming a prestigious venue for exchanging views on finances and the economy in general. The timing of the forum – on the eve of Moscow’s birthday – has also become a good tradition. This proximity allows us not only to discuss serious financial issues but also to see and feel the atmosphere of the pre-holiday capital.

We recently hosted the world’s football fans. I don’t doubt that many here watched the FIFA World Cup and saw how Moscow welcomed its guests. Naturally, we would like this atmosphere to take shape at the forum and prevail in finances even though finances are typically much harder to deal with than football.

This is a financial forum but the theme of this plenary session is much broader. This makes sense because today’s challenges are linked not only with money transfer issues but also with the economy in general that is affected by changes in global politics, trade, market conditions, and international competition. As you know, these changes aren’t always positive. It is in these conditions that we are supposed to make Russia one of the world’s top five economies. This goal was set in the President’s May Executive Order. This goal needs to be achieved through financial, tax and budgetary policy, among other things. We have created a solid foundation for further development over the past few years. Despite economic pressure, the sanctions and the various crises that have been shattering the global economy since 2008, we have restored growth in our economy. Let’s be straight –our growth rates are not at all great, but development is no longer accompanied by the accumulation of imbalances and external vulnerabilities like before, as on the scale it was before.

Our foreign national debt has reached another low, and industry is becoming more competitive. Import substitution is taking place in some segments and non-energy exports are growing with confidence, partly due to the more reliable financial sector.

Today, Russian jurisdiction suits the needs of business much better. I understand that there are still some concerns, but nonetheless it is a far more developed jurisdiction. The financial markets received key infrastructure – a single mega-regulator based on the Bank of Russia, as well as the central depositary. Protection from market manipulation through access to insider information has been tightened – a corresponding law was adopted. Money savings protection mechanisms are improving, including for mortgages.

Taxes for new businesses have been lowered, for example, corporate income tax rates for development centres with special status, for special projects. I mean the so-called TASEDs – territories of advanced social and economic development, special investment contracts (SPICs) and others. We moved to a “one stop shop” system for submitting accounting reports to state agencies. We are supporting the development of small- and medium-sized businesses where possible. All this helped us improve our Doing Business rankings to 35th. We shouldn’t get carried away by this, but it is an indicator that shows we’re moving in the right direction and making the right decisions.

We must move ahead. We are currently drafting the guidelines for Government activity for a period until 2024. These guidelines contain all tactical and strategic steps, including those for achieving the national goals outlined in the May executive order. But this document has broader implications. This means, in general, stable development with low inflation and increasing average incomes. This is the ongoing transformation of the economy towards non-raw materials sectors through support for digital technology, innovation development, highly technological infrastructures and other sectors.





Moscow Financial Forum

I will briefly discuss certain aspects of this that I believe to be essential.

First, we intend, of course, to continue working to increase the inflow of investment. Not long ago, we adopted a corresponding plan of action on accelerating investment growth rates. Our target is 25 percent of GDP per year (the current level is 21 percent).

The plan of action includes measures designed to strengthen and improve the investment climate, reduce business costs, expand the introduction of our best practices in the regions, continue to reform control and oversight and decriminalise certain offences by business.

We are also working to create additional conditions for the return of capital from abroad. Special administrative areas will appear (you know, certain decisions were made – these areas include Russky Island in Primorye and Oktyabrsky in the Kaliningrad Region), that will offer an opportunity to transfer business from abroad to our jurisdiction along with maintaining a given status, a corporate structure and a variety of advantages. It is necessary to continue to encourage the creation of long-term money pools in the economy, to launch projects based on syndicated lending. For that we created such an instrument as the factory for project financing.

The second point is: we will involve private investors in various projects more actively, including in infrastructure projects. Not long ago, we set up a Development Fund. It will be filled from budget sources and the size will be defined annually by the budget law. Apart from other goals, it will co-finance certain segments of state programmes. This is a big financial pool that will enable us to include a far broader circle of private companies in our projects and provide the necessary support not only to large companies, but also to relatively small ones. We are also planning to expand the set of public-private partnership tools, simplify the work of concessions and engage existing development institutions in projects more actively in terms of fund raising, attracting private partners and providing the necessary expertise.

Perhaps, it is too early to say exactly what projects will be launched. A comprehensive plan designed to modernise and expand essential infrastructure is currently being prepared and its first phase is nearing completion. The plan will comprise transportation and energy projects. One of the main criteria is the attractiveness of projects for private capital. We will engage representatives of the business community and the regions in this work.

We are also planning to push towards reducing the cost of borrowing (this is indeed very important) in order to create conditions for more robust economic growth. It is necessary to move from neutral to stimulating regulation in lending. Since even despite our successful efforts to keep inflation low (and this is indeed a success), the rates still remain relatively high. We are counting on the active position of the Bank of Russia on this issue.

The third point that I would like to make is taxes. We will continue our course to create stable and predictable tax conditions that will ensure parity between the interests of the public, companies, that is businesses, and the state. This is the logic that we were guided by in our steps to transform the tax system. We realised that big goals were ahead. And this means big expenses. But we tried to minimise the impact of this step on people’s incomes.

Consequently, we decided to raise the base value-added tax rate along with maintaining benefits for socially important goods and certain services. Also, the threshold for a simplified VAT refund procedure will be lowered. The minimum term for an in-house tax audit for VAT returns will be shortened from three to two months. In other words, the money will be returned faster, I believe. Also, the cumulative tariff for insurance payments to extra-budgetary state funds has been fixed at a lower rate (from 34 percent to 30 percent). And, as you know, the tax on movable property has been repealed.

Moreover, we will complete the tax manoeuvre in the oil sector within the next six years.

An important topic is non-tax payments, which, in fact, are nothing but taxes. We are planning to create uniform rules for introducing, changing and levying these. I have repeatedly discussed this topic with business representatives. A special working group is drafting approaches to this reform. We expect the final document to be ready early next year. A bill on including part of these payments in the Tax Code will be prepared shortly. We had a protracted discussion on whether to include or not to include it and eventually decided that part of these payments must be included.

On the whole, the current fiscal burden in Russia is close to the level adopted in the OECD countries. Let me point out that this level will be maintained over the coming six years – this is important. As a matter of fact, we are maintaining the tax moratorium. And we are not planning to change anything.

Colleagues!

Big goals are ahead for all of us. It is impossible to address them without your concise work, without the concise work of the financial system and the financiers themselves. But I am confident that we will work out the right response to existing challenges, partly thanks to the success of every company represented here and the organisations you work in.

8 September is your special day, Financier’s Day. It is a great pleasure for me to congratulate you on this – everyone in this hall, and of course, all who are now working in the financial markets.

I wish you good luck. Thank you for your attention.

CANADA's latest

Statement by the Prime Minister on Rosh Hashanah

September 9, 2018
Ottawa, Ontario

The Prime Minister, Justin Trudeau, today issued the following statement on Rosh Hashanah:

“Tonight, at sunset, Jewish communities in Canada and around the world will celebrate Rosh Hashanah, the Jewish New Year.

“Rosh Hashanah is the beginning of the ten-day period of High Holy Days. It is an opportunity to reflect on the past year and come together with friends and family to share meals, prayers, and hopes for the future.

“The New Year offers hope for a new beginning. It is a chance to set new goals, embrace new challenges, and reach for something greater. As Jewish tradition teaches us, our work is never finished.

“Progress is not inevitable, and must be continually renewed and reimagined. Today, let us commit to do better and be there for each other, no matter what the New Year brings.

“Rosh Hashanah is a chance to celebrate Canada’s Jewish communities, and the significant contributions that Jewish Canadians make to our country. Today, we also reaffirm our ongoing responsibility to take action and stand together against anti-Semitism, hatred, and discrimination in all its forms.

“On behalf of our family, Sophie and I wish everyone celebrating a healthy, peaceful, and prosperous New Year.

“Shanah Tovah Umetukah!”

Statement by the Prime Minister on International Literacy Day

September 8, 2018
Ottawa, Ontario

The Prime Minister, Justin Trudeau, today issued the following statement on International Literacy Day:

“Today, on International Literacy Day, we join people around the world to raise awareness of the importance of literacy. We celebrate the progress we have made to promote literacy, here at home and abroad – and reflect on the work we have left to do to make sure everyone has access to literacy and opportunity.

“Literacy is the foundation of success. It means more opportunities for people to take part in our economies and societies – and more tools to care for their loved ones, contribute to their communities, and build a better future.

“Literacy helps workers adapt and thrive in our rapidly changing global economy, and empowers people around the world, especially the most vulnerable. Being able to read and write helps people make their voices heard and gives them greater tools to advocate for their community. Yet around the world,750 million adults –two-thirds of whom are women – lack basic reading and writing skills. It’s up to all of us to build a world where everyone, no matter their background or their gender, has a fair and equal shot at success – and literacy is a vital part of that.

“The Government of Canada is working hard to support quality education that is fair and inclusive, and to promote lifelong learning opportunities for all. In 2017, we launched the Innovation and Skills Plan to help Canadians get the skills and training they need to succeed in today’s workforce and prepare for the jobs of tomorrow. This year, we introduced a new Women Entrepreneurship Strategy to help women access training and networking opportunities to grow their business. Through programs such as the Aboriginal Skills and Employment Training Strategy and the Youth Employment Strategy, we are helping historically vulnerable communities get the tools and opportunities they need to contribute to and benefit from our economy.

“Beyond our borders, we are working with partners to make the Sustainable Development Goals a reality, including inclusive, equitable quality education for all. At the G7 Summit in Charlevoix earlier this year, Canada and partner countries announced a historic investment in education for women and girls in crisis and conflict situations – the largest of its kind ever made. When women and girls have the chance to learn and succeed, they help build economies that work for everyone. This investment will make a real difference in the lives of the world’s most vulnerable women and girls, and help lay the foundations for lasting peace and prosperity.

“On behalf of the Government of Canada, I thank all those who work every day to support and improve literacy initiatives, here in Canada and around the world. Together, we can close the gaps in access to education, and build a more prosperous, equal future for all.”

Prime Minister Justin Trudeau meets with Malala Yousafzai

September 7, 2018
Ottawa, Ontario

Today, Prime Minister Trudeau met with Malala Yousafzai, honourary Canadian, Nobel laureate, and co-founder of the Malala Fund.  

Prime Minister Trudeau thanked Ms. Yousafzai for her leadership in Canada’s G7 Gender Equality Advisory Council to advance education for women and girls. They discussed Canada’s commitment to implement the historic $3.8 billion of new resources committed in Charlevoix for women and girls in crisis and conflict-affected situations. They discussed upcoming opportunities to ensure that education remains a global priority including during the United Nations General Assembly, the G20, and future G7 presidencies.  

The Prime Minister and Ms. Yousafzai committed to further discuss opportunities to address barriers faced by girls in accessing 12 years of free, safe, quality education.

Joint Statement by the Leaders of France, Germany, the United States, Canada and the United Kingdom on the Salisbury Attack

September 6, 2018
Ottawa, Ontario

A joint statement by the leaders of France, Germany, the United States, Canada and the United Kingdom on the Salisbury attack:

“We, the leaders of France, Germany, the United States, Canada and the United Kingdom (UK), reiterate our outrage at the use of a chemical nerve agent, known as Novichok, in Salisbury on March 4, 2018. We welcome the progress made in the investigation into the poisoning of Sergei and Yulia Skripal, and take note of the attempted murder charges brought yesterday against two suspects. We commend the work of the UK Police and all those involved in this investigation.

“We also note the UK’s analysis, independently verified by the Organisation for the Prohibition of Chemical Weapons (OPCW), that the exact same chemical nerve agent was used in the poisoning of Dawn Sturgess and Charles Rowley as was used in the poisoning of the Skripals. We urge Russia to provide full disclosure of its Novichok programme to the OPCW. And we encourage those with information about the attack in Salisbury on 4 March, as well as the further poisoning in Amesbury, to come forward to the UK authorities.

“We have full confidence in the British assessment that the two suspects were officers from the Russian military intelligence service, also known as the GRU, and that this operation was almost certainly approved at a senior government level. We have already taken action together to disrupt the activities of the GRU through the largest ever collective expulsion of undeclared intelligence officers. Yesterday’s announcement further strengthens our intent to continue to disrupt together the hostile activities of foreign intelligence networks on our territories, uphold the prohibition of chemical weapons, protect our citizens and defend ourselves from all forms of malign state activity directed against us and our societies.”

NORWAY's latest news

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Week 36

Foreign Minister concerned about critical situation for UNRWA Nyhet | 04.09.2018 ‘I am concerned that the situation for UNRWA, which is already critical, will deteriorate further as a result of President Trump’s decision to end all funding to the organisation,’ said Minister of Foreign Affairs Ine Eriksen Søreide. News alert about: Foreign affairs

NOK 325 million in humanitarian aid to the Lake Chad region Pressemelding | 03.09.2018 News alert about: Foreign affairs

Speech at Roundtable Meeting on Partnerships (SDG 17), Pacific Islands Forum (PIF) Tale/innlegg | 03.09.2018 News alert about: Foreign affairs

Strategic choices and Norwegian priorities Tale/innlegg | 27.08.2018 Minister of International Development Nikolai Astrup's Speech at the Norwegian People's Aid (NPA) Programme Meeting 27 August. News alert about: Foreign affairs

Ralph Chami: Avoiding the Remittance Trap

Ralph Chami: Avoiding the Remittance Trap

08/30/2018 09:49 AM EDT

Few would argue that workers’ remittances—the money migrants send to family in their home country—improve the lives of millions of people. Remittances amounted to over $400 billion last year. That’s somewhere between official development assistance and foreign direct investment in terms of size. These massive financial flows have important consequences for the economies that receive them. But in this podcast, IMF economist Ralph Chami says remittances can also have a negative impact on growth. Chami is coauthor, with Ekkehard Ernst, Connel Fullenkamp, and Anne Oeking, of Is There a Remittance Trap featured in the September 2018 edition of Finance and Development Magazine.

Ralph Chami, is an assistant director in the IMF’s Institute for Capacity Development.

Christine Lagarde on The Crisis That Prompted a Rethink

Christine Lagarde on The Crisis That Prompted a Rethink

09/05/2018

It’s been ten years since Lehman Brothers—one of the largest firms on Wall street, was wiped out and closed its doors. Only two weeks before it filed for bankruptcy it held more than 600 billion dollars in assets. The fall of Lehman’s turned a volatile financial market into a full-blown panic and is widely seen to be what triggered the global financial crisis in 2008. In this podcast, IMF Managing Director, Christine Lagarde looks back at one of the most disruptive events in history for the global financial system.