The Honourable Finance Minister has backed down on his decision to reduce VAT.
The Finance Minster (FM) often says things that surprise the economics profession. Perhaps that is only because they are paying attention to the wrong things. When the FM speaks to the local media or even to his parliamentary colleagues he is essentially talking politics.
When power trumps principle inevitably there are casualties. The process to replace Dominique Strauss Kahn as Managing Director of the International Monetary Fund (IMF) has been a sham – and has left the US and Europe defending the indefensible.
The question whether aid has really contributed to the overall development of recipient countries (mainly 49 low income LDCs) is still unclear. There is no evidence that development aid has made significant contribution in uplifting a country’s economic and human development status. The poor number of graduated countries also supports this fact. The UN-OHRLLS’s Basic… Read more »