Finance

US dollars are now commonly used by businesses in Venezuela. The informal adoption of the dollar has helped to decrease inflation and product shortages.

Venezuela’s public sector workers take on multiple side jobs just to get by

To supplement their meager wages, many government workers in Venezuela are turning to side hustles that include driving taxis, baking cakes, selling clothes or taking care of pets. And that’s having an impact on the quality of public services.

Venezuela’s public sector workers take on multiple side jobs just to get by
street view

Cubans worry about inflation explosion after government austerity measures

Cubans worry about inflation explosion after government austerity measures
Workers in western Uzbekistan haul large bundles of cotton to a nearby truck.

‘Justice doesn’t exist here’: Uzbek farmers and cotton workers say abuse, exploitation continues despite reforms

‘Justice doesn’t exist here’: Uzbek farmers and cotton workers say abuse, exploitation continues despite reforms
ruins

'We saw an immediate drop': Jordan's tourism industry is suffering amid the Israel-Hamas war

'We saw an immediate drop': Jordan's tourism industry is suffering amid the Israel-Hamas war
Ghana officially commenced oil production in commercial quantities in 2010.

COP28: African nations resist fossil fuel phaseout, citing economic realities

COP28: African nations resist fossil fuel phaseout, citing economic realities
Portrait photo of a woman

Microfinance was meant to help the world’s poor, but in Cambodia, it’s plunging people deeper into debt

Microfinance was hailed as a way to change the lives of hundreds of millions of people without access to credit. It worked so well that Grameen Bank founder Muhammad Yunus was awarded a Nobel Prize. But then, banks jumped in to get in on the profits. To manage high debt levels, Cambodians are migrating for work, eating less and even pulling their children out of school.

Microfinance was meant to help the world’s poor, but in Cambodia, it’s plunging people deeper into debt
Aerial view of the village of Mutucal, Mãe Grande Curuçá Extractive Reserve.

Rural communities in the Amazon face a complex world of carbon credits

Brazil has embraced carbon credits as a way to protect the Amazon and mitigate climate change. But many community activists in the Amazon say carbon offset projects can be problematic.

Rural communities in the Amazon face a complex world of carbon credits
Women rush out of a train during peak hours at Churchgate station in Mumbai, India, Monday, March 20, 2023.

Indian women do less paid work. It’s bad news for the economy.

Across the world, higher economic growth has seen a rise in women’s employment, according to the United Nations. But India is bucking that trend, where educated women are working less in paid positions.

Indian women do less paid work. It’s bad news for the economy.
A fully-covered man riding a motorbike in the street at night

New banking services tackle barriers faced by migrants

Some startups throughout the Americas are establishing loans geared towards migrants. Among them is Galgo, which helps migrants buy motorbikes in order to earn money with delivery apps like Uber Eats.

New banking services tackle barriers faced by migrants
wall with women's faces marked out

Women in Afghanistan are devastated by the Taliban’s ban on beauty salons

The Taliban have given all women’s beauty salons in Afghanistan one month to close down. The ultraconservative group, which took power by force in 2021, has consistently chipped away at women’s rights and freedoms in the country. 

Women in Afghanistan are devastated by the Taliban’s ban on beauty salons
There's a great deal of concern among civil society groups over how ethnic tensions may influence Sierra Leone’s June 24 elections.

Sierra Leone elections: Familiar faces vie for voter trust as economy stagnates

Incumbent President Julius Maada Bio will face off against against main contender Samura Kamara on June 24. As the country prepares for this crucial election, voters are looking at issues like economic stagnation, corruption and national security.

Sierra Leone elections: Familiar faces vie for voter trust as economy stagnates
People sit along Bitcoin Beach in El Zonte, El Salvador.

El Salvador's bitcoin experiment rides on choppy seas as currency fluctuates

The bitcoin cryptocurrency has seen its ups and downs lately, gaining and losing 10% of its value in just the past week. Nowhere is this volatility felt more intensely than in El Salvador, which became the first country in the world to adopt bitcoin as legal tender in 2021.

El Salvador's bitcoin experiment rides on choppy seas as currency fluctuates
Adani Group Chairman Gautam Adani attends the "Invest Karnataka 2016 Global Investors Meet" in Bangalore, India, Feb. 3, 2016. 

Indian billionaire businessman Gautam Adani faces scrutiny

Indian businessman Gautam Adani is one of the world's wealthiest people. Now, his methods for acquiring the enormous wealth and close ties to Prime Minister Narendra Modi are being investigated by India's Supreme Court.

Indian billionaire businessman Gautam Adani faces scrutiny
woman by flag

Young Africans seek to leverage Vice President Harris’ trip to Africa 

US Vice President Kamala Harris began her weeklong visit to the African continent this week in Ghana. She plans to focus on youth entrepreneurship, and to make a claim for supporting some African countries, as China and Russia have made diplomatic and financial inroads. 

Young Africans seek to leverage Vice President Harris’ trip to Africa 
people at building entrance

The risk of banking 'contagion' 

Investors worry that the problems at a handful of American banks could ripple across the world economy and unexpected surprises may be lurking. But this is not 2008. Regulations in the US and Europe are much stronger today than they were 15 years ago. 

The risk of banking 'contagion'