Category: Finance

As we mark the 15th anniversary of Queen Máxima of the Netherlands’ work as the United Nations Secretary-General’s Special Advocate for Inclusive Finance for Development (UNSGSA), CGAP CEO Sophie Sirtaine reflects on the significant strides the industry has made in advancing financial inclusion worldwide. Mobilizing action through global advocacy and country engagement Having global advocates […]

Russia is seeking to convince BRICS countries to build an alternative platform for international payments that would be immune to Western sanctions when it hosts the group’s leaders at a summit next week. President Vladimir Putin is keen to build up BRICS – which has expanded to include Egypt, Ethiopia, Iran and the United Arab […]

Israel’s economy grew slower in the second quarter than previously thought, data showed on Tuesday, as Israel’s war in Gaza against the terrorist group Hamas continued to weigh on growth. The Central Bureau of Statistics said in its third estimate that gross domestic product ILGDP=ECI rose by an annualized 0.3 percent in the April-June period, […]

UNITED STATES AGENCY FOR INTERNATIONAL DEVELOPMENTOffice of Press Relations For Immediate ReleaseOctober 10, 2024 SPEECH Deputy Administrator Isobel Coleman on The Power of Cost-Effectiveness Evidence to Improve Lives Center for Global Development WATCH HERE DEPUTY ADMINISTRATOR ISOBEL COLEMAN: Thank you so much, Eeshani [Kandpal], for that introduction, and to all of you for joining us today […]

The government will debate a proposal for the 2025 budget on October 31, a spokesperson for Finance Minister Bezalel Smotrich, said earlier this week. This delay could mean that the budget is not passed by the end of 2024, the spokesperson added. The October discussion is later than intended, as Smotrich previously said he intended […]

The wandering people often has tax links in more than one country. Below we report on some Israel- related tax happenings in the USA and France. USA – war relief available: The Internal Revenue Service has announced new relief for taxpayers affected by terrorist attacks in Israel. In practice, this includes US immigrants (Olim). In […]

The Bank of Israel (BoI) will keep short-term interest unchanged for a sixth straight policy meeting on Wednesday, as markets maintain their view that rising inflation due to the Israel-Hamas war will not lead to lower rates until next year. All 14 economists polled said they expected the central bank to hold its benchmark rate […]

As we recently celebrated Rosh Hashanah, it’s worth highlighting a few bright spots in Israel’s economy—many surprisingly strong—that offer some optimism amid the current challenges. Much of Israel’s economic success is often underreported, even as we face the ongoing burdens of war. Last Friday, Moody’s downgraded Israel’s internal shekel-based credit rating and its external foreign […]

Moody announced on Friday that it was downgrading Israel’s credit rating from A2 to Baa1 with a negative outlook. This is the second time they had downgraded Israel’s credit rating during the war, with the previous time being in February when it was downgraded from A1 to A2. Israel has been undergoing serious financial stress […]

The Universities Superannuation Scheme (USS) sold nearly £80 million of Israeli assets after increasing pressure from its members, according to a Financial Times report on Thursday. The USS is the largest private pension fund in the UK, worth around £80 billion, and has more than 500,000 members. The FT reported that USS has sold off assets, including […]