Word: fiscal
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After finishing the fiscal year saddled with an unprecedented $6 billion in debt, Harvard may borrow even more money this year to sustain various capital projects across campus, the University’s chief financial officer said last week...
Harvard spent $644 million this past fiscal year—which ended June 30—on a capital program that included new construction, acquisitions, and existing physical infrastructure, according to the University’s annual financial report released last Friday...
...contrast, HU Press’ last fiscal year, which ended in July 2009, was a “perfect storm,” says Donnelly. Sales fell ten percent, according to a report by “The Crimson.” “Last year there was a financial crisis that the entire globe was situated within…And there is a lot of disorder in the world of publishing so we didn’t have such a great year last year,” she says, noting that the price of books in general...
During the dark days of the global credit crunch a year ago, policymakers around the world had a generally easy time coordinating decisions. As asset prices tanked, lending dried up and growth shriveled, governments and central banks were forced to take similar steps - pump up fiscal spending and slash interest rates to support growth and unfreeze financial markets. Now, as an economic recovery emerges, governments are hoping for another coordinated effort to exit from their massive stimulus plans, including near-zero interest rates. That intention was clearly laid out during the September G-20 summit in Pittsburgh, Pa. The leaders...
...complicated in the real world of economic policymaking. The problem is that the upturn isn't as synchronized as the downturn. Countries are emerging from recession at different speeds, with each facing its own special mix of inflationary pressures and unemployment - both of which affect decisions for monetary and fiscal policy. "We won't get the kind of coordinated response that is the rhetoric of the G-20," says Paul De Grauwe, professor of economics at the University of Leuven in Belgium. "Each country is going to look at its own interests." (See TIME's special "Out of Work...