The failure of SIFIs could set off a global financial disaster (Credit: istock photo, BrianAJackson)
The Global Financial System can’t stand another systemic shock. Even as efforts are rallying to accelerate the recuperation of global financial systems, regulators should remain vigilant for possible deterioration. Restoring financial stability through recovery plans and extended interventions using public funds mandates closer monitoring of the financial markets as well as additional measures to minimize the likelihood and severity of potential outcomes if systemically important financial institutions (SIFIs) were to fail.
Halima Khatun never had to worry about putting food on the table when her husband was alive. Her husband had a business which provided enough for their four children and they lived fairly contented till seven years ago, when her husband suddenly passed away.
As the years went by, one by one the children married, moved out and had their own family to take care of. Halima was left alone, fending for herself, and took up weaving mats and embroidery to help get by. But then her daughter, who used to work at a garments factory in the city after her divorce, suddenly fell sick and unable to work, she moved back in with her four-year old son. Halima was thrown into utter desperation and knew not how to make ends meet.
Something new and important is happening in the Arab world, and it has so far gone largely unnoticed. Since the beginning of the 2011 revolutions, statistical agencies in the North Africa and the Middle East have started to open up access to their raw data and sharing it not only with selected individuals and institutions but also with the public at large. This amounts to a cultural revolution the implications of which are exciting and wide ranging.
- RCT reporting
“Death…" that is the first word that comes to mind to some young Jamaican women that participated in a focus group on gender when they heard the word "man".
What makes a young woman attach such negative values to the other gender?
In Jamaica, where 20 % of the youth is considered unattached, excluded from the economic activity and society, violence among young people is a serious development issue. Last year, 218 young males, from 16-25 years old, were arrested for murder compared to only 3 females. Of the 4040 juveniles appearing before the local Courts, 75% were males. “Shifting norms and behavior on the issue of violence in Jamaica cannot successfully take place outside of the gender perspective”, said Senator Sandrea Falconer, Minister without portfolio, responsible for information, in the Office of the Prime Minister.
As a World Bank Senior Economist and Statistician, I am responsible for compiling data from various sources to produce the Africa Development Indicators (ADI), an annual report of the most detailed collection of development data on Africa.
Whenever I mention numbers and data and tables, most people’s eyes glaze over and they shut down. But data can tell a mountain of a story, especially for African policymakers charged with developing policies that support development and economic growth. Without data, how would leader’s plan and design policies? How could they do anything without knowing where they are coming from, to where they’re going to?
Here’s more information about the ADI’s, and how the annual data collection not only helps African leaders, but also helps to inform citizens who can then hold them accountable.