Christian Democratic Union leader Friedrich Merz did not become Germany’s chancellor as planned on Tuesday after at least 18 members of his coalition either abstained or voted against him.
China’s Politburo — the top leadership cabinet — said Monday it would take “more proactive” fiscal measures and loosen up its monetary policy in 2025 as it aims to boost domestic consumption.
At the plenary session concluding the International Monetary Fund and World Bank’s 2024 Annual Meetings in Washington, DC, on Friday, IMF Managing Director Kristalina Georgieva made clear there was no time to rest. Although wealthy countries seem likely to achieve the much-vaunted “soft landing” — reducing inflation without a recession — geopolitical, climactic, and fiscal risks are putting great strain on the world’s most vulnerable economies.
Thai Prime Minister Srettha Thavisin announced Monday that citizens will be able to register for a digital wallet handout starting in August that will give about $275 each to 50 million people.
Beijing announced that Lan Fo’an, currently provincial party secretary in Shanxi, will succeed Liu Kun at the Ministry of Finance, signaling a commitment to tackling the country’s mounting debt problem.
Sovereign debt is, simply put, the money a country owes to its creditors around the world. Ian Bremmer explains a few more fun facts about debt on GZERO World.