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Showing posts with the label World Economy

Venezuela Crisis: The Oil Rich Country in Trouble

The proven oil reserves in Venezuela are recognized as the largest in the world, totaling 299 billion barrels whereas Saudi Arabia has 266 billion barrels in its stock. Despite being an oil-rich country, Venezuela is facing severe socioeconomic and political crisis. Crime and violence are also widespread. In 2016, 27,479 people were killed - an all-time high - according to the independent group the Venezuelan Violence Observatory. A socioeconomic and political crisis has been taking place in Venezuela since 2010 under the presidency of Hugo Chávez and has continued into the current presidency of Nicolás Maduro. The opposition accuses President Nicolas Maduro of moving towards a dictatorship, and want him to resign. But Maduro says the opposition is conspiring with foreign entities, specifically the United States, to destabilize the country. In 2016, opposition lawmakers took a majority in the legislature—the National Assembly—for the first time in nearly two decades. ...

Median Household Income and Gini Index in the Past 12 Months by State and Puerto Rico: 2016 and 2017

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The U.S. median household income from the 2017 ACS was $60,336. This was the fifth consecutive year with an increase in the ACS estimate of median household income for the nation.

The Eurozone Crisis: Italy Next?

First Greece -- then Ireland, Italy, Spain and Portugal: The European common currency has come under pressure from large national debts and the effects of the global financial crisis, ultimately requiring a rescue package close to a trillion euros. Fears are growing that the euro crisis may soon return. Italy could spark a chain reaction if it doesn't yield to the European Union's demand that it rein in its planned deficit spending. Concern is rising in Brussels and on the financial markets. The erstwhile bailout fund known as the European Stability Mechanism may soon be granted far-reaching new powers, including the kinds of functions currently possessed by the IMF. But there's a hitch. Italy can only manage its current crisis with German help. And Germany needs Italy to keep Europe stable. While there is no simple solution, a new form of assistance could help.

European Union: A Re-look

The European Union is a unique economic and political union between 28 EU countries that together cover much of the continent. The predecessor of the EU was created in the aftermath of the Second World War. The first steps were to foster economic cooperation: the idea being that countries that trade with one another become economically interdependent and so more likely to avoid conflict. The result was the European Economic Community (EEC), created in 1958, and initially increasing economic cooperation between six countries: Belgium, Germany, France, Italy, Luxembourg and the Netherlands. Since then, 22 other members joined and a huge single market (also known as the 'internal' market) has been created and continues to develop towards its full potential. What began as a purely economic union has evolved into an organization spanning policy areas, from climate, environment and health to external relations and security, justice and migration. A name change from the Europ...

United Nations (UN) History

The United Nations is an international organization founded in 1945.  It is currently made up of 193 Member States.  The mission and work of the United Nations are guided by the purposes and principles contained in its founding Charter. The United Nations can take action on the issues confronting humanity in the 21st century, such as peace and security, climate change, sustainable development, human rights, disarmament, terrorism, humanitarian and health emergencies, gender equality, governance, food production, and more. The UN also provides a forum for its members to express their views in the General Assembly, the Security Council, the Economic and Social Council, and other bodies and committees. By enabling dialogue between its members, and by hosting negotiations, the Organization has become a mechanism for governments to find areas of agreement and solve problems together. 2015 marked the 70th anniversary of the United Nations. Senior Management Group Structu...

Country wise External Debt

Debt - external compares the total public and private debt owed to nonresidents repayable in foreign currency, goods, or services. RANK COUNTRY DEBT - EXTERNAL DATE OF INFORMATION 1 EUROPEAN UNION $29,270,000,000,000 31 DECEMBER 2016 EST. 2 UNITED STATES $17,910,000,000,000 31 MARCH 2016 EST. 3 UNITED KINGDOM $8,126,000,000,000 31 MARCH 2016 EST. 4 FRANCE $5,360,000,000,000 31 MARCH 2016 EST. 5 GERMANY $5,326,000,000,000 31 MARCH 2016 EST. 6 NETHERLANDS $4,063,000,000,000 31 DECEMBER 2016 EST. 7 LUXEMBOURG $3,781,000,000,000 31 MARCH 2016 EST. 8 JAPAN $3,240,000,000,000 31 MARCH 2016 EST. 9 IRELAND $2,470,000,000,000 31 MARCH 2016 EST. 10 ITALY $2,444,000,000,000 31 MARCH 2016 EST. 11 SPAIN $2,094,000,000,000 31 MARCH 2016 EST. 12 AUSTRALIA $1,670,000,000,000 31 DECEMBER 2017 EST. 13 SWITZERLAND $1,664,000,000,000 31 MARCH 2016 EST. 14 CANADA $1,608,000,000,000 31 MARCH 2016 EST. 15 CHINA $1,607,000,000,000 31 DECEMBER 2...

United States (US) Gross External Debt

Gross External Debt Position: By Sector as of June 30, 2018 U.S. Dollars in Millions General Government 6,562,448 Short-term 750,100 Currency and deposits 3/ 0 Debt securities 750,100 Loans 0 Trade credit and advances 0 Other debt liabilities 4/ 5/ 0 Long-term 5,812,348 Special drawing rights (allocations) 6/ 49,674 Currency and deposits 3/ 0 Debt securities 5,649,138 Loans 0 Trade credit and advances 113,536 Other debt liabilities 4/ 0 Central Bank 750,284 Short-term 750,284 Currency and deposits 3/ 750,284 Debt securities 0 Loans 0 Trade credit and advances 0 Other debt liabilities 4/ 5/ 0 Long-term 0 Special drawing rights (allocations) 6/ 0 Currency and deposits 3/ 0 Debt securities 0 Loans 0 Trade credit and advances 0 Other debt liabilities 4/ 0 Deposit-Taking Corporations, except the Central B 2,891,681 Short-term 2,066,478 Currency and deposits 3/ 1,343,771 Debt securities 157,637 Loans 565,070 Trade credit...

Financial Sanctions Lists of the United States

Office of Foreign Assets Control - Sanctions Programs and Information The Office of Foreign Assets Control ("OFAC") of the US Department of the Treasury administers and enforces economic and trade sanctions based on US foreign policy and national security goals against targeted foreign countries and regimes, terrorists, international narcotics traffickers, those engaged in activities related to the proliferation of weapons of mass destruction, and other threats to the national security, foreign policy or economy of the United States. OFAC publishes lists of individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries. It also lists individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific. Active Sanctions Programs: ​ Program Last Updated: Balkans-Related Sanctions ​ 02/03/2017 ​ Belarus Sanctions ​ 10/24/2018 ​ Burundi Sanctions ​ 06/02/2016 ​ Count...