Tag "economic crisis"
Could Zambia’s Debt Default Signal a Domino Effect on the African Continent?
In November 2020, news outlets reported that Zambia had become the first African country to default on debt against the backdrop of the Covid-19 pandemic, after opting out of a $42.5 million eurobond repayment. Zambia’s external debt payments have increased significantly since 2014, from 4% of government revenue to an estimated 33% in early 2021. As neighbouring countries in Sub-Saharan Africa continue to suffer the economic squeeze of the pandemic, there are fears that others will follow Zambia in defaulting sooner than experts anticipated.
The US’s schizophrenic recovery: Banks’ earnings on the rise as the government bails out families
Talks of a “K-shaped” recovery after the pandemic crisis started in 2020, predicting that some sectors of the economy will benefit disproportionately by the pandemic, while everyone else bears the costs for it. Big banks and the world of finance are surely to be on the benefiting end. However, policy-makers, shareholders and executives seem to be missing a key lesson of the Great Recession -the risk of an enriching bank system that loses touch of reality may aggravate the schizophrenia of the post-pandemic economies.
Book Review: “Janesville” holds lessons for both parties going into midterms
“Janesville: An American Story” is a captivating account of the impact of the economic crisis and local auto plant closure on a whole community. Despite Trump’s promises, these are problems the current administration is nowhere near addressing – but do the Democrats know what needs to be done either?
Can new elections save Venezuela?
Thousands of demonstrators have taken to the streets in the last few weeks, demanding early elections and the resignation of President Nicolas Maduro.
An olympic challenge in Rio de Janeiro
Brazil’s economic problems could overshadow its Rio Summer Olympics, thereby increasing its political risk.
Mauricio Macri: A reformer in the making
With his economic reforms, Argentinian President Mauricio Macri will reposition Argentina more competitively in the global economy.
Mongolia hit hard by China’s economic slowdown
Mongolia has been greatly affected by China’s economic slowdown. How have falling commodity prices and a devaluation of Mongolia’s currency affected the country? Surpassing the US as the world’s largest
Clean Energy Damages Europe’s Competitiveness
For years Europe has been at the forefront of the renewable energy revolution, promoting and establishing global rules in this sector. There are signs however that this trend might change.
Confidence in EU Increases Amid Economic Crisis
Recent months have seen a significant boost in European business and consumer confidence, according to the latest official statistics published by Eurostat in late July. The data show that the
