Central banks, like the Bank of Korea, typically prioritize price stability and inflation control, but in South Korea, policymakers also have to address the issue of high household debt. References to household debt are frequently considered in the BOK’s monetary policy decisions, with Governor Rhee Chang Yong acknowledging criticisms about the cautious approach taken in setting the Base Rate. The BOK is concerned about the negative impact of excessive household debt on economic growth, as it weakens spending power, distorts capital allocation, and leads to an overinvestment in non-productive sectors.
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Africa knew Trump's 'America First' pledge meant it might be last. Then he cut aid.
In Johannesburg, South Africa, the abrupt halt in U.S. foreign aid due to President Trump's executive order has caused significant disruptions to organizations like Platform For Youth and Community Development, impacting their work to prevent child marriages. The President's Emergency Plan for AIDS Relief (PEPFAR) in Africa, credited with saving over 25 million lives, is now under threat as many organizations receiving funding have closed, leading to uncertainty and delays in HIV treatment programs. Despite...
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