• About
  • Editorial Board
    • Staff Writers
  • Advertise
  • Join Us
  • Archives
The Wellesley News -
  • News and Features
    • The Wellesley (COVID) 100
      The Wellesley (COVID) 100
    • In memory of Professor Rebecca Summerhays
      In memory of Professor Rebecca Summerhays
    • Trans flag controversy: College power washes staircase after trans flag is painted over Harry Potter spray paint
      Trans flag controversy: College power washes staircase after trans flag is painted over Harry Potter spray paint
    • News
      • News in Brief
      • Nation & World
      • President’s Corner
      • Senate Report
    • Features
      • Alumnae Spotlight
      • Eye on Science
      • Faculty Focus
      • LGBTQIA+ Column
  • Opinions
    • The News in Conversation: Wellesley Against Mass Incarceration
      The News in Conversation: Wellesley Against Mass Incarceration
    • Editorial Board calls for keeping up trans flag murals
      Editorial Board calls for keeping up trans flag murals
    • No, Elon Musk’s Twitter will not restore free speech
      No, Elon Musk’s Twitter will not restore free speech
    • Staff Editorial
    • Letters to the Editor
    • The Elephant in the Room
  • Arts
    • Chloe Gong could publish her grocery list and I’d pay $20 for it (Books Before Boys review)
      Chloe Gong could publish her grocery list and I’d pay $20 for it (Books Before Boys review)
    • RIP to Wanda, the male betta fish (Books Before Boys review)
      RIP to Wanda, the male betta fish (Books Before Boys review)
    • When talking to ghosts only worsens your existential dread (Books Before Boys review)
      When talking to ghosts only worsens your existential dread (Books Before Boys review)
    • Arts In The News
    • Reviews
    • Music Peek
    • Books Before Boys
  • Health and Wellness
    • February Student Athlete of the Month
      February Student Athlete of the Month
    • Athletics Update
      Athletics Update
    • Victoria Garrick Speaks on Mental Health
      Victoria Garrick Speaks on Mental Health
    • Athlete of the Week
    • Boston Sports Update
    • The Vegan Digest
    • The SHE Corner
  • The Wellesley Snooze
    • Wellesley News Leadership Changes Completely Peacefully Without Any Suspicious Disappearances At All
      Wellesley News Leadership Changes Completely Peacefully Without Any Suspicious Disappearances At All
    • Solve Your Connection Problems With Wellesley Insecure
      Solve Your Connection Problems With Wellesley Insecure
    • Mayhem strikes Wellesley as paper towels removed from campus
      Mayhem strikes Wellesley as paper towels removed from campus
  • Miscellanea
    • President’s Column: The Butterfly Effect
      President’s Column: The Butterfly Effect
    • Administrators shocked to learn that students dislike being left in dark
      Administrators shocked to learn that students dislike being left in dark
    • 50 Lies You Tell Yourself in Order to Survive Until Graduation
      50 Lies You Tell Yourself in Order to Survive Until Graduation
    • The Dose
    • The Olive Branch
    • Multimedia
      • Galleries
      • Infographics
      • Videos
By Elizabeth Rizzoni Nation & World, News, News and FeaturesNovember 17, 2016

Nation & World: 11/16

Earthquake strikes New Zealand

Just a short time after midnight on Saturday Nov.12, a 7.8 magnitude earthquake was registered in New Zealand. The epicenter was close to Christchurch, NZ and resulted in a eight foot tsunami wave hitting the coast within hours of the initial earthquake. The area is still on high alert for large aftershocks and tsunamis. Authorities do not expect following waves to be taller than the first that occurred. Mr. Key, a reporter who was in contact with a military helicopter monitoring the coast, said that “we don’t have any indications at the moment to believe [the waves] will rise, but we can’t rule that out.” Fire departments are relieved at the outcome of this earthquake, as much less damage to people and property occurred compared to a similar quake in the area five years ago in which two-hundred people were killed. There have only been two reported casualties from this weekend.

Egypt granted IMF assistance

Egyptian President Abdul Fattah al-Sisi has stated that the country has a budget deficit of 12 percent and that unemployment is unacceptably high. Tourism, which used to be the largest source of income in the nation, has fallen precipitously since the political uprising of the Arab Spring five years ago. In an effort bolster economic confidence, the government floated the currency, which decreased its value by a half, and increased interest to 14.75 percent, which raised the cost of basic household necessities and food. Demonstrations occurred on Friday. As a result the International Monetary Fund has taken action, approving a substantial loan to Egypt in an effort to alleviate the worst of it’s current economic crisis. The loan will amount to $12 billion in total, and Egypt will receive about a quarter of that sum effective immediately. The money will be sent according to the nation’s need depending on the effects of new reforms and the rate of economic growth. Christine Lagarde is the managing director of the IMF and has advised that “resolute implementation of the policy package is essential to restore investor confidence” and that fuel subsidies and public sector bills must occur in order for the Egypt to regain some stability in the near future

Share on

  • Facebook
  • Twitter
  • Pinterest
  • Google +
  • LinkedIn
  • Email
Previous articleNews in Brief: 11/16
Next articlePresident’s Corner: 11/16

You may also like

The Wellesley (COVID) 100

In memory of Professor Rebecca Summerhays

Trans flag controversy: College power washes staircase after trans flag is painted over Harry Potter spray paint

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Email Newsletter

Sign up to receive our weekly digest in your inbox

* indicates required

Top Articles

Sorry. No data so far.

Recent Tweets

Tweets by @Wellesley_News

The independent student newspaper of Wellesley College since 1901.

Sign up to receive our weekly digest in your inbox

* indicates required

  • About
  • Editorial Board
    • Staff Writers
  • Advertise
  • Join Us
  • Archives
COPYRIGHT © 2022 THE WELLESLEY NEWS
Back to top