MOZAMBIQUE: More than one emergency
In a late-night session on 31 March, the National Assembly approved President Filipe Nyusi’s state of emergency declaration, which applies from 1 to 30 April, in response to the Covid-19 pandemic. However, Mozambique now faces multiple emergencies: not only the pandemic itself bu… Become a member to read the rest of this article Username […]
NIGERIA: CBN caving in to FX pressure, but not without a fight
The official response to the oil price crash and the COVID-19-induced economic crisis continues to evolve at a rapid pace. The division of labor is clear: the federal government zeroes in on cutting expenditure and shoring up the shrinking revenue base, while it falls to the Cent… Become a member to read the rest […]
VENEZUELA: Regime’s “whatever it takes” policy to COVID-19
● The regime’s bombshell request for IMF emergency assistance provides proof of Venezuela’s unique vulnerability to COVID-19. ● The run-down public healthcare system is not equipped to handle a significant spread of coronavirus. ● Extreme oil-dependence means that previous … Become a member to read the rest of this article
WEEKLY POLITICAL COMPASS
Meetings on the European and G7 levels are intended coordinate national responses to COVID-19. The Bank of Japan suggested a limited role for central banks in combating the global demand slowdown. China is trying to position itself as a leader in epidemic response. Meanwhile, Sou… Become a member to read the rest of this article
NIGERIA: Heading for 2016 redux as ‘Buharinomics’ likely to shift into top gear
Nigeria enters the ensuing COVID-19-induced economic crisis in a much weaker state than previous crises. Nevertheless, the administration will fight tooth and nail to avoid a devaluation in the short-term. Demand management will be the main tool … Become a member to read the rest of this article
MEXICO: Populism and distraction
Major demonstrations and a strike by women protesting gender violence, impunity, and inequality on 8-9 March were significant for two broad reasons. First, they represent a new and unexpectedly large expression of public discontent at a time when President Andres Manuel Lopez Obr… Become a member to read the rest of this article
ECUADOR: Government walks tightrope
President Lenin Moreno last night, 10 March, announced an emergency package of measures designed to boost government revenues by USD 2.25bn. Moreno cited the impact of the global COVID-19 outbreak together with the oil price drop as reasons for the package. Ecuador’s country risk… Become a member to read the rest of this article
LATAM: COVID-19 to inflict heavy collateral damage
Latin America is caught in a negative shock to both supply and demand resulting from the COVID-19 outbreak, though the spread of the virus in the region remains minor for now. The region is facing a considerable “China shock” as well as a related oil shock and knock-on… Become a member to read […]
WEEKLY POLITICAL COMPASS
The European Central Bank will unveil its response to the COVID-19 crisis. The Chinese economy is now rapidly returning to normal. Argentina’s aim of wrapping up debt negotiations by the end of March looks even more unrealistic now. Turkey’s president will meet EU leaders in Brus… Become a member to read the rest of […]
MEXICO: Lack of growth not severe enough to force change in direction
Preliminary figures published by the INEGI statistics agency yesterday, 30 January, indicate that the economy contracted by 0.1% in 2019, marking the first year of negative growth in a decade. Also yesterday, the finance ministry (SHCP) released its closing numbers for 2019, whic… Become a member to read the rest of this article