31 August 2023 In a recent blog, I outlined the risk of near-term liquidity problems in certain African nations. And, while I suggested a region-wide debt crisis can be averted, it's important to put the issue in a broader context. In particular, as a result of the rise in regional debt levels (both domestic and [...]
7 August 2023 Africa has underperformed economically for a long time. Per capita GDP has risen less than 1% annually during the past 30 years (chart below); lagging all other emerging market regions during this period (although Latam has also slowed in the past decade). During this interval, meanwhile, output per person in the advanced [...]
22 February 2019 Last year's Turkish financial market crisis emanated from the confluence of several domestic and international factors. To be sure, Turkey is no stranger to boom-bust economic cycles. And, fueled by overly expansive macroeconomic policies, the Turkish economy was overheating and inflation rising sharply by mid-2018. Against this already challenging backdrop, the Erdogan [...]
18 May 2018 Despite frenetic diplomatic efforts, including the evident bonhomie between Presidents Macron and Trump, the United States has withdrawn from the Iran Nuclear Deal (JCPOA). The world awaits details of America's new approach to confronting Iran's nuclear ambitions and its aggressive regional political behaviour. The Trump Administration has announced already its intention to [...]