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The World Bank's chief economist warned Wednesday that interest rate hikes could spell trouble for countries struggling to deal with debt. The US Federal Reserve, the European Central Banks and others have raised rates and warned that they could remain high longer than expected in order to bring down elevated inflation. The International Monetary Fund…The World Bank’s chief economist warned Wednesday that interest rate hikes could spell trouble for countries struggling to deal with debt.
“In spite of all of these shocks, we have not seen any big economies really get into trouble. But the good news basically ends there,” said World Bank chief economist Indermit Gill. “We should expect this tightening cycle to also take long,” he said. “We should expect some countries to into trouble.”
The Minister of Police Affairs, Senator Ibrahim Gaidam has stressed the need to explore avenues forcollaboration with Turkey in the areas of intelligence sharing and capacity building to combat trans-national crimes. Israel is not conducting itself "like a state" in the Gaza Strip, Turkey's president said on Wednesday, as Israel pounded the territory after a Hamas onslaught. "Israel should not forget that if it acts more like an organisation rather than a state, it'll finish by being treated as such," Recep Tayyip Erdogan said, attacking "shameful…
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