The issue that I have settled on is the financial crisis that seems to be a threat globally. Financial crisis is a situation in the economic market which threatens the norm of all the policies and the government situation generally. The shilling seems to lose its value, assets and even people lose their businesses with huge losses which are not easily curbed by the economy generally. The debt is spiraling in high estimates and the taxpayers seem to be paying more.
Financial crisis is an issue that basically makes economy worser and undergoes very many losses. This has been of concern worldwide and measures to curb this are developed day-in-day-out. The kind of situation seems to get worse as days go by even threatening development generally. Some of the causes have been identified like poor macroeconomic policies and the lack oversight in the regulatory policies especially in the money market (Yifu). The situation seems to be getting worse as time goes by though the world has come up with policies and training to ensure the situation is better in the coming years. The situation was worsened as the financial analysts handled the situation not with the kind of seriousness that was supposed to be earlier.
The report on the financial crisis that I have looked at is the global financial crisis that was updated last on March 24th 2013: (www.globalissues.org) the issue summarizes the economic situation and talks a little about the economic boom in the previous years. Some of the solutions are outlined and causes and it talks of the causes like the poor spending of the countries generally that leads to the situation worsening. The problem of the crisis is an economic issue and threatens basically the whole world as governments, businesses and many institutions resort to ask for bail outs to better the economic situations (Global Issues 2013). The government debt is basically increasing even in Europe but, what is the last resort except to ask for this foreign aid? (World Economic Situation and Prospects 2013).
Some of the policies and measures to control the situation involve monetary policies whereby the central banking operations are monitored closely. Among other policies is the management of administrative and financial services whereby the budgets are made, some strategic decisions taken to ensure the bettering of the situation (Federal Reserve Bank of New York 2013). These are the policies to curb the general financial crisis in the market like portfolio management which involves curbing the dollar market assets and supervising it more closely (Federal Reserve Bank of New York 2013). These policies seem to be better as the kind of supervision involving the issue stated can easily be curbed to enhance better economic situations generally in the money market and the financial situation in the country. These training programs and policies are generally taken to curb the situation which seems to be worsening as days go by.
The financial crisis has even impacted on the human rights leading to a worse situation especially for the marginalized communities (United Nations Human Rights 2013). Some of the above programs and policies are taken to curb the issue. With the successful implementation of these policies, though there are some challenges that come about with it; the situation might be made to be better.
Federal Reserve Bank of New York :( October 15-18, 2013) Specialized Training Programs
Federal Reserve Bank of New York ( October 15-17, 2013) Specialized Training Programs
Global Issues: (Sunday, March 24, 2013) Global Financial Crisis: Social, Political, Economic and Environmental Issues That Affect Us All
Justin Yifu Lin, Policy Responses to the Global Economic Crisis: The World Bank Institute.
United Nations Human Rights :( 24 – 25 April 2013) Human rights and the financial crisis: New York.
World Economic Situation and Prospects (2013) Global economic outlook