JAPAN: BOJ shifts toward more open-ended support for public and private sectors
At a truncated policy meeting on Monday, 27 April, the Bank of Japan (BOJ) announced that it would remove the JPY 80tn (USD 746bn) target for government bond purchases that has been in place since 2014. For now, this step will be mostly symbolic – the bank has bought considerably… Become a member to […]
MACRO: Summary of Covid-19 exit strategies
In this summary table, we provide an overview of the lockdown exit strategies currently being planned by selected countries around the world and the surrounding politics. Please click on ‘View PDF’ below to see the table. Do not hesitate to contact us if you want to discuss any o… Become a member to read the […]
Macro series – The burden of Sisyphus
Focus The pandemic and the reaction to it will result in a surge in public sector liabilities. Gross G-7 debt is projected to rise to an all-time high of 140% of GDP or more. Individual countries have in the past coped with much higher debt burdens. Today’s indebte… Become a member to read the […]
KOREAN PENINSULA: Questions about succession as Kim’s condition remains unknown
● North Korean leader Kim Jong Un’s health remains the subject of rumor and speculation after not being seen in public since 11 April. ● North Korea’s neighbors claim that they have not seen anything unusual, but this is no guarantee of Kim’s health. ● Despite concerns that… Become a member to read the […]
NIGERIA: The CBN has its unconventional way, again
On 24 April, the Central Bank of Nigeria (CBN) apparently debited about 30 banks a total of NGN 1.47trn (USD 3.8bn) for failing to comply with regulatory thresholds. As the CBN’s monetary policy continues to oscillate between measures aimed at defending the naira and stimulating … Become a member to read the rest of […]
WEEKLY POLITICAL COMPASS
Questions about compliance with the OPEC+ agreement remain pertinent. The Bank of Japan is signaling a new era of monetary policy. The European Central Bank will convene this week. South Africa will start lowering its Covid-19 alert level. Brazil’s president is facing the fallout… Become a member to read the rest of this article
MOZAMBIQUE: IMF emergency aid promises slight relief amid troubled outlook
On Friday, 24 April, the board of the International Monetary Fund (IMF) approved a disbursement of USD 309mn under the Rapid Credit Facility (RCF) to support Mozambique’s “urgent balance of payment and fiscal needs stemming from the COVID-19 pandemic.” Together with the G20 debt … Become a member to read the rest of this article
LATAM PULSE
This week, the future of the Mercosur/Mercosul trade bloc faces renewed uncertainty. Venezuela’s regime is reversing the limited economic liberalization of recent months as an upcoming anniversary serves as a reminder of the regime’s reliance on the military. In Mexico, disrupted… Become a member to read the rest of this article
EUROPE: From second phase to second wave?
● There might not (yet) be a race for the quickest lockdown exit, but governments are focused on the question of easing restrictions (we are keeping track of the politics of exit strategies in our weekly update). ● As during the onset of restrictive measures, incubation times an… Become a member to read the […]