Tag Archives: Treasury department

U.S. blacklists North Korean officials over rights abuses

Kim Jong Un leader of North Korea leading a meeting

WASHINGTON (Reuters) – The U.S. Treasury Department has added seven senior North Korean officials, including leader Kim Jong Un’s sister, to its sanctions list because of human rights abuses and censorship by the communist nation.

The department said in a statement on Wednesday that its Office of Foreign Assets Control added six men and one woman, all officials of the government of the Democratic People’s Republic of Korea or the ruling Workers’ Party of Korea, along with the Ministry of Labor and the State Planning Commission, to the Specially Designated Nationals List.

“The North Korean regime not only engages in severe human rights abuses, but it also implements rigid censorship policies and conceals its inhumane and oppressive behavior,” acting OFAC Director John Smith said in the statement, adding that the move aimed to expose the individuals responsible for the abuses.

The U.S. State Department said in a separate statement that the action coincided with the release of its second report on North Korean human rights abuses and censorship, which it called among the worst in the world.

Pyongyang “continues to commit extrajudicial killings, enforced disappearances, arbitrary arrest and detention, forced labor, and torture. Many of these abuses are committed in the political prison camps, where an estimated 80,000 to 120,000 individuals are detained, including children and family members of those subject to persecution and censorship,” the State Department statement said.

Among seven individuals on the Treasury Department blacklist is Kim Yo Jong, 27, who it said is the younger sister of leader Kim Jong Un, as well as the vice director of the Workers’ Party of Korea Propaganda and Agitation Department.

Also on the list is Minister of State Security Kim Won Hong, whose agency the department said “engages in torture and inhumane treatment of detainees during interrogation and in the country’s network of political prison camps.”

(Reporting by Tim Ahmann; Writing by Eric Walsh; Editing by Tom Brown and Steve Orlofsky)

U.S. government posts $107 billion deficit in August up 66% since last year

A security guard walks in front of an image of the Federal Reserve following the two-day Federal Open Market Committee (FOMC) policy meeting in Washington, DC

WASHINGTON (Reuters) – The U.S. government posted a $107 billion budget deficit in August, a 66 percent increase from the same month last year, the Treasury Department said on Tuesday.

This compared to a deficit of $64 billion in August 2015, according to Treasury’s monthly budget statement.

Analysts polled by Reuters had expected a $108 billion deficit for last month.

When accounting for calendar adjustments, August would have shown a $118 billion deficit compared with an adjusted $107 billion deficit in the same month in 2015.

The fiscal year-to-date deficit was $621 billion through August, up 17 percent from a $530 billion deficit at the same time last year. There were no calendar adjustments.

Receipts last month totaled $231 billion, a 10 percent increase from August 2015, while outlays stood at $338 billion, a 23 percent rise from the same month a year ago.

(Reporting by Lindsay Dunsmuir; Editing by Andrea Ricci)

U.S. posts $53 billion budget deficit in May

WASHINGTON (Reuters) – The U.S. government posted a $53 billion budget deficit in May, a 38 percent drop from the same month last year, the Treasury Department said on Friday.

The government had a deficit of $84 billion in May of 2015, according to the Treasury’s monthly budget statement.

Analysts polled by Reuters had expected a $60 billion deficit for last month.

However, when accounting for calendar adjustments, May would have shown a $102 billion deficit compared with an adjusted $84 billion deficit a year prior.

The current fiscal year-to-date deficit was $407 billion, up 11 percent from a $367 billion deficit at this time last year.

On an adjusted basis, the fiscal year-to-date gap was $413 billion compared with $367 billion at this time last year.

Receipts last month totaled $225 billion, a 6 percent increase from May 2015, while outlays stood at $277 billion, a 7 percent decline from the same month a year ago.

(Reporting by Lindsay Dunsmuir; Editing by Paul Simao)

U.S. posts $108 billion dollar deficit in March

U.S. Treasury Secretary Jack Lew holds a two dollar note as he speaks during an event about currency redesign hosted by the University of Maryland in College Park, Maryland

WASHINGTON (Reuters) – The U.S. government posted a $108 billion budget deficit in March, more than double the amount from the same period last year, the Treasury Department said on Tuesday.

The government had a deficit of $53 billion in March of 2015, according to the Treasury’s monthly budget statement. Analysts polled by Reuters had expected a $104 billion deficit for last month.

Accounting for calendar adjustments, March would have shown a $102 billion deficit compared with an adjusted $89 billion deficit in March 2015.

The current fiscal year-to-date deficit was $461 billion, up 5 percent from a $439 billion deficit this time last year.

Receipts last month totaled $228 billion, while outlays stood at $336 billion.

(Reporting by Megan Cassella; Editing by Andrea Ricci)