The tariff on imported wheat, barley, and corn amounted to 130% in Turkey. According to Reuters, Turkey has slapped a 130% levy on imports of wheat, barley, and corn from all nations other than Bosnia and Herzegovina. The decision made by President Recep Tayyip Erdogan was made public in the national newspaper. The law will take effect on May 1, 2023. The earlier judgment stated that imports of...

A digital currency backed by gold will be introduced by the Reserve Bank of Zimbabwe (RBZ). John Mangudya, the chairman of RBZ, revealed it to the Sunday Mail, a local newspaper. As mentioned, the introduction of digital currency is one of the initiatives the nation's central bank is making to stabilize the national currency. Small bank depositors who will be able to move their funds into them...

Inflation in the US was 5% yearly in March, reported the US Department of Labor. The previous low in was May 2021. Analysts polled by Reuters forecasted that March's inflation rate would be 5.2%. Consumer prices increased 0.1% from February. Inflation was up 0.4% from January to 6% annually in February. The rate of inflation in the USA decreased for the ninth month in a row, after reaching a high...

White sugar futures on the London Stock Exchange are now worth more than they have been since 2011. Sugar per tonne traded at $705.5 Wednesday, April 11. According to Bloomberg, market participants' forecasts of a decline in sugar export from India as well as a decline in supplies from other nations, such as Pakistan and Thailand, may be the cause of the unusual rise in prices. Additionally,...

The amount of oil shipped by sea globally increased to its highest level since 2020. According to Bloomberg, who cited data from Vortexa Ltd., the amount of crude oil delivered by tankers by sea increased to its highest level since 2020. The rise in naval shipments shows that Russian oil is being transported over longer distances to new clients. The amount of crude oil transported in tankers or...

According to a research by the International Monetary Fund (IMF), financial market instability and a number of contradictory indications have exacerbated uncertainty regarding the future of the global economy. "Given the recent increase in financial market volatility and multiple divergent indicators, the fog around the prospects for the global economy has thickened," the organization stated in a...

The IMF chief evaluated the world economy's revival. According to Kristalina Georgieva, managing director of the International Monetary Fund (IMF), the global economic recovery is still sluggish even in the face of high inflation and issues in the financial sector. She remarked in a Monday joint session with World Bank President David Malpass: "We are very hopeful for a strong (global economic)...

Following closing of several of the country's largest lending institutions, bank lending in the US has decreased by $105 billion over the last two weeks, according to Bloomberg. The Federal Reserve reports that it is the greatest fall since 1973. Bloomberg reports that the decline over the past week was $45 billion. The agency claims that this is mostly because small banks have cut back on their...

According to documents from the National Bank of Ukraine, the country's international reserves as of April 1, 2023, totaled $31.9 billion, setting a record for the previous 11 years. The reserves climbed by 10% in March alone due to a decline in the regulator's net currency sales, mild debt repayments, and money inflows from foreign partners. The National Bank of Ukraine now has $5,1 billion on...