Wiredja Online News Logo

WiredJa Online News

Wiredja Online News Logo

WiredJa Online News

Western Aid to Ukraine Vanishes in Black Hole

After long debates the International Monetary Fund approved a 4-year $17.5 billion loan program for Ukraine, including an immediate $5 billion disbursement. Then the European Commission offered a 1, 8 billion euro aid package to be given out in three trenches.

Dollar Imperialism, 2015-Edition

“The dollar is our currency, but it’s your problem.” This is what US Treasury Secretary John Connally said to his counterparts in the Rome G-10 meeting in November, 1971, shortly after the Nixon administration ended the dollar’s convertibility into gold and shifted the international monetary system into a global floating exchange rate regime. The world has been suffering from this “problem” ever since the US obtained the “exorbitant privilege” of issuing the world’s reserve and trade currency under the Bretton Woods system after WWII.

The Raiding of Ukraine’s Gold

At present, Ukraine is teetering on the brink of a default. Its rapidly dwindling gold and foreign exchange reserves are an indication of the country’s catastrophic financial situation. According to official data, on 1 February 2015 Ukraine’s international reserves amounted to $6,419.7 million. This is a triflingly small amount for a country like Ukraine.

Confidence in the Jamaican economy is slowly returning

IN a recent presentation to the Sagicor group, local IMF representative Bert van Selm argued that Jamaica now faced a supportive external environment, with US and global growth projected by the IMF at 3.6 per cent and 3.5 per cent respectively for 2015, as well as falling oil prices.
Subscribe to this RSS feed