26 March 2021 President Erdogan's decision to sack Turkey's central bank governor Naci Agbal last week following the CBRT's decision to raise interest rates 200bp has increased volatility in EM currency markets. Is this just the latest episode of Turkish political intrigue? Alternatively, given both Brazil and Russia also lifted key rates, has a more [...]
28 January 2021 Joe Biden is now the 46th President of the United States, and Anthony Blinken has been confirmed as the new Secretary of State. President Biden has promised substantive changes in American foreign policy, and initial Executive Orders indicate he will act on this pledge. To be sure, American international policy decisions are [...]
13 November 2020 Three cheers for the world's scientific community! The recent announcement that an effective vaccine may be on the way is a very welcomed, early Christmas present at the end of a tough year. Of course, there are numerous medical questions and logistical challenges that still must be solved. But, along with everyone [...]
5 November 2020 Saddled with high debt, Latin America's real per capita GDP stagnated between 1980 and 1995, despite a healthy global economic environment. A lost decade (Chart above). The region has suffered greatly during the ongoing Coronavirus crisis, and the economic consequences have been enormous. Despite having only 8% of the world's population, the [...]