Tag: Minister

Zimbabwe facing ‘catastrophe’, economy could shrink by 20% without coronavirus aid – finance minister

Zimbabwe’s finance minister, Mthuli Ncube, has issued an
impassioned plea to international finance institutions, laying bare the country’s
battered economy and saying it faces “catastrophe” if it does not
access critical bailout funding to fight the combined impact of crippling
drought and the coronavirus pandemic.

In a leaked letter, the authenticity of which has been
confirmed by a senior government official, Ncube wrote to the International
Monetary Fund, the World Bank and other international institutions, saying the
country faced record poverty levels.

Ncube said without a transformative arrears clearance and
re-engagement plan, Zimbabwe could “suffer a health and economic
catastrophe” and the economy could contract by as much as 20%.

“This is a massive contraction with very serious social
consequences,” that could “raise poverty to levels not seen in recent
times,” reads part of the letter.

Zimbabwe, which cleared its debts with the IMF, still owes
other international lenders more

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Algeria: Finance minister sounds the alarm over drying state finances

The Algerian Finance Minister debunked the government over the country’s finance following the crash of global oil, noting that the situation is dire and that it is pointless to lie.

Abderrahmane Raouya, during an improvised press conference in capital Algiers Wednesday, confirmed that the state finances have drastically dwindled, TSA reports.

The North African country has seen its resources affected after the oil prices have plunged across the globe due to low demand as the lockdown because of the novel covid-19 reduced economic activity worldwide.

The country’s national budget depends heavily on oil and gas revenues, which account for 97 per cent of total sales abroad.

The current national budget was built on a price of $50 a barrel at a time benchmark international crudes are trading at their lowest in about two decades. The country’s crude oil, Saharan blend, dropped and is currently sold at around $11.72 per barrel.

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12/12 | Challenges to overcoming inequality in Brazil: A conversation with Nelson Barbosa, former Minister of Finance of Brazil

The Robert L. Heilbroner Center for Capitalism Studies, SCEPA, and the Reconvexo Collective invite you to:

“Challenges to overcoming inequality in Brazil: A conversation with Nelson Barbosa, former Minister of Finance of Brazil”

With Nelson Barbosa and Marcelo Medeiros

many years of decreasing income inequality and poverty levels, Brazil
is again facing a worsening of its poverty indicators. According to the
Brazilian Institute of Geography and Statistics (IBGE), the number of
people in Brazil with an income below the World Bank Poverty Line
increased, on average, by one million every year between 2015 and 2018.
This seminar is an opportunity to discuss the recent economic and
political changes in Brazil, and how they can affect income distribution
and poverty indicators.

Thursday, December 12, 2019
6:00pm – 8:00pm
Wolff Conference Room, Room D1103
Albert and Vera List Academic Center
6 E 16th Street, New York, NY 10003

Speaker: Nelson Barbosa

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Covid-19: Finance Minister says businesses to shift to ‘safe’ economic activity under alert level 3

Minister of Finance Grant Robertson says the focus for businesses will move away from “essential” economic activity to what is “safe” under alert level three.

Finance Minister Grant Robertson

Minister of Finance Grant Robertson
Photo: Pool / NZME

Robertson made his comments in a speech to Business New Zealand this afternoon.

It follows an announcement made earlier today that small businesses will get a $3 billion boost through tax breaks to help them ride out the impending economic crisis.

Robertson broke down the response to the Covid-19 crisis in three waves; fight the virus and cushion the blow, kickstart the economy, and reset and rebuild the economy.

The government’s response was not about distinct phases that followed one after the other, he said.

“They are waves that are all under way at once, lapping over and under each other,” he said.

“Much of the work we have done and continue to do on the

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Magistrate Accuses Former Finance Minister Tugbeh Doe of Issuing Death Threats on His Life

Brewerville Magisterial Court Associate Justice Fallah J. Matthews

MONROVIA – The case involving former Liberia’s Finance Minister Tugbeh Doe of the Sky International Insurance Company has taken a new dimension as the Presiding Magistrate Fallah J. Matthews raised an alarm over a “death threat” made on his life by unknown persons allegedly linked to the famous insurance company.

Mr. Doe who is presently the President/Chief Executive Officer (CEO) of the Sky International Insurance Company served as Finance Minister during the National Transitional Government of Liberia (NTGL) of Charles Gyude Bryant.

His Honor Fallah J. Matthews is one of the Magistrates assigned at the Brewerville Magisterial Court in district # 17, Montserrado County.

Speaking to a local radio station in Monrovia recently, Magistrate Matthews claimed that a purported letter from a group calling itself “Jungle Boys Death Squad” threatened to eliminate him and his family members due to the manner and

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Minister: IGP’s remarks on MCO until June just personal view, decision to extend still hinges on MOH | Malaysia

Police personnel conduct checks on vehicles during a roadblock in Section 7, Shah Alam April 15, 2020. — Picture by Yusof Mat Isa
Police personnel conduct checks on vehicles during a roadblock in Section 7, Shah Alam April 15, 2020. — Picture by Yusof Mat Isa

KUALA LUMPUR, April 15 — Malaysia’s top cop’s remarks yesterday that the movement control order (MCO) could possibly be extended to June is just his personal opinion, as the government’s decision whether to extend such an order would depend on the Health Ministry’s views, Senior Minister Datuk Seri Ismail Sabri Yaakob said today.

Ismail Sabri was asked to comment on Inspector-General of Police Tan Sri Abdul Hamid Bador’s remarks yesterday on a possible extension of the MCO to June if Malaysians remain stubborn in complying with the MCO.

“About the statement made by the inspector-general of police, that may be his view, but whatever it is, the decision whether to extend or not, it depends on the Health Ministry’s advice,” Ismail Sabri said during a press conference

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UK finance minister Sunak, 39, next in line to lead country after Raab

FILE PHOTO: Britain’s Chancellor of the Exchequer Rishi Sunak poses with the red budget box outside his office in Downing Street in London, Britain March 11, 2020. REUTERS/Henry Nicholls/File Photo

LONDON (Reuters) – British finance minister Rishi Sunak would take responsibility for leading the country if Dominic Raab, currently standing in for hospitalised Prime Minister Boris Johnson, were also incapacitated.

Johnson spent a night in intensive care receiving oxygen treatment following his admission to hospital with a persistent high temperature and cough, more than a week after testing positive for the novel coronavirus.

Foreign minister Raab has taken over some of the British leader’s responsibilities, including chairing the government’s daily meeting on the coronavirus crisis, although the 55-year Johnson remains prime minister.

“There is an established order of precedence,” Johnson’s spokesman said. “In line with the order of precedence, the Chancellor (Sunak) would follow from the Foreign Secretary.”

Sunak was

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Minister of Finance (India) – Wikipedia

Head of the Ministry of Finance in India

The Minister of Finance (or simply, Finance Minister) is the head of the Ministry of Finance of the Government of India. One of the senior-most offices in the Union Cabinet, the finance minister is responsible for the fiscal policy of the government. As part of this, a key duty of the Finance Minister is to present the annual Union Budget in Parliament, which details the government’s plan for taxation and spending in the coming financial year. Through the Budget, the finance minister also outlines the allocations to different ministries and departments. Occasionally, s/he is assisted by the Minister of State for Finance and the lower-ranked Deputy Minister of Finance.

There have been a number of Finance Ministers who went on to become the Prime Minister like Morarji Desai, Charan Singh, Vishwanath Pratap Singh and Manmohan Singh and also to serve

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German State Finance Minister Commits Suicide After Expressing Concern About Economic Effects of Wuhan Coronavirus

A German state finance minister reportedly killed himself after he expressed “despair” over how to handle the economic fallout of coronavirus. 

The body of Thomas Schaefer, the finance minister of the country’s Hesse region, was found on train tracks near Frankfurt. 

Authorities interviewed witnesses about “their own observations” from the scene and concluded it was a suicide.  

According to state governor Volker Bouffier, Schaefer was concerned over “whether it would be possible to succeed in fulfilling the population’s huge expectations, particularly of financial help.”

“I have to assume that these worries overwhelmed him,” Bouffier said, reports AP. “He apparently couldn’t find a way out. He was in despair and left us.”

President Trump warned last week about the effects of a long economic shut down, including high suicide rates. 

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