A parliamentary committee found about 50 billion pounds worth of cash in circulation is not being spent, and blasted the bank for a lack of “curiosity” about where it is.
Tag: Economic Conditions and Trends
India’s Economy Shrinks Sharply as Covid-19 Slams Small Businesses
The latest data firmly establishes India’s position among the worst-performing major economies, despite government spending meant to blunt the pandemic’s impact.
Coronavirus Strands Millions of Migrants
Millions of people have been displaced by the pandemic. Jessika and her 6-year-old, Sebastián, are among the many who have yet to find a home.
Chinese Statue of Yang Asha, Goddess of Beauty, Sparks Debate
As China fights to end extreme poverty while also recovering from the economic damage of the coronavirus, the supposed wisdom of building huge statues in poorer areas to grow tourism is coming under harsh scrutiny.
After Trump, Biden Faces Pressure to Stand Up to China by Embracing Taiwan
In his final days in office, President Trump is trying to undermine Beijing by showing support for Taiwan. President-elect Biden will likely follow a similar path — without the pugnacity.
China Says It Remains Open to the World, but Wants to Dictate Terms
China’s leader, Xi Jinping, is pursuing a strategy to make the country’s economy more self-sufficient, while making other places more dependent on it than ever.
Biden Wants to Rejoin Iran Nuclear Deal, but It Won’t Be Easy
President Trump is applying more sanctions on Iran that would be hard to reverse. Tehran, facing elections in June, has its own demands.
Sisi Promised Egypt Better Health Care. Covid-19 Showed His True Priority.
President Abdel Fattah el-Sisi vowed to put improved health care “at the heart” of his agenda. It hasn’t worked out like that in a country where the military’s needs always come first.
In India’s Bihar Vote, Yadav Pressures Modi and B.J.P.
Mr. Modi declares victory for his coalition in Bihar State, stopping the B.J.P.’s recent slide with a vote seen as a referendum on the government’s Covid-19 response.
U.S. Says Virus Can’t Be Controlled. China Aims to Prove It Wrong.
China’s approach to keep Covid-19 at bay has helped restore confidence and allowed businesses to reopen. But it is a strategy steeped in authoritarianism.