Day: February 3, 2021

Politics

NIGERIA: Petroleum Industry Bill (PIB) about to enter crucial stage

Petroleum Industry Bill (PIB) about to enter crucial stage During last week’s public hearings, industry stakeholders voiced various concerns regarding the bill’s investment provisions. Representatives of the oil-producing Niger Delta region meanwhile advocated for a larger revenue share. Despite an acute revenue crisis, considerations beyond the current electoral cycle may result in a more accommodative government stance vis-à-vis industry concerns.… Read the rest

Politics

EGYPT: Continuing to Cruise in Choppy Waters

  • Egypt’s economy continues to outpace the rest of the Middle East, despite the effects of COVID-19 on tourism and shipping.
  • The state remains the key driver of the economy, focused on major, visible projects.

Egypt’s economy continues to defy the downward pressure on other regional economies.… Read the rest

Italy

ITALY: Draghi faces an uphill battle to secure a parliamentary majority

President Sergio Mattarella’s unexpected and sudden decision to summon former ECB chief Mario Draghi for talks today (3 February) has shaken the country’s political parties and thrown some of them in a difficult spot. Mattarella tasked Draghi to form a government of national unity to tackle the public health emergency and the economic crisis.… Read the rest

Emerging Markets

MOZAMBIQUE: Debt court case backfires against president

  • While accountability in Mozambique’s infamous USD 2bn debt scandals has been elusive for years, for the first time President Filipe Nyusi has been directly linked to the scandals in an ongoing court case in London.
  • Even if the legal ramifications will likely be very limited for now, politically the revelations could weaken Nyusi in the remainder of his second term in office.
Read the rest