budget

African Monitor Comments on the 2009/10 Budget

African Monitor congratulates the Minister of Finance for presenting a sober but very solid budget. We note the global economic context of his speech which indeed acknowledges the fact that the prospect of an economic cataclysm requires bold and innovative budgetary interventions. So, recognising that the “transition has brought sizeable disruptions” which must have significantly curtailed the Minister’s options in framing the budget, we are satisfied by the Minister’s pledge that “we will not be deaf to the voice of those in pain”.

Financial Literacy

Financial Literacy is a paper that demonstrates widespread financial illiteracy among the United States population, particularly among specific demographic groups. Produced by the National Bureau of Economic Research, the paper shows that most individuals cannot perform simple economic calculations and lack knowledge of basic financial concepts, such as the working of interest compounding, the difference between nominal and real values, and the basics of risk diversification.

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