Argentina devalued its currency by more than 50 percent Tuesday in a set of “shock” measures aimed at reviving a crumbling economy and tackling triple-digit inflation. Issued on: 13/12/2023 – 03:49 3 min The government of President Javier Milei, a libertarian who swept from obscurity to the top office vowing to chainsaw spending, also announced … Read more
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BUENOS AIRES/BEIJING, Dec 7 (Reuters) – Argentina’s President-elect Javier Milei has a China conundrum. The libertarian economist insulted communist-run China in a fiery campaign, but takes office on Sunday needing the country’s second-largest trade partner more than ever as a recession looms and foreign currency reserves run dry. Since he won the Nov. 19 election, … Read more
China passed a significant milestone last fall: For the first time since its economic opening more than four decades ago, it traded more with developing countries than the U.S., Europe and Japan combined. It was one of the clearest signs yet that China and the West are going in different directions as tensions increase over … Read more
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A general view shows the Central Bank of Kenya headquarters building along Haile Selassie Avenue in Nairobi, Kenya November 28, 2018. REUTERS/Njeri Mwangi/File photo Acquire Licensing Rights MARRAKECH, Morocco, Oct 12 (Reuters) – Kenya is planning to buy back up to a quarter of its $2 billion 2024 international bond before year-end after it secures … Read more
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A participant stands near a logo of World Bank at the International Monetary Fund – World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. REUTERS/Johannes P. Christo Acquire Licensing Rights MARRAKECH, Oct 9 (Reuters) – The World Bank on Monday said it is looking at ways to expand the guarantees it … Read more
KARACHI: In an era defined by shifting global dynamics, the emergence of BRICS (Brazil, Russia, India, China, and South Africa) as a united bloc has sparked discussions about a potential challenge to Western hegemony. This diverse group, now, represents over 3 billion people, 40% of the world’s population, and a significant share of global GDP. … Read more
Authors: Matthew Harrison, HKIIF and Geng Xiao, PKU With the renminbi used for only around 2 per cent of international transactions and reserve holdings, it’s still far from supplanting the US dollar as the currency of choice and its use lags far behind what China’s 16 per cent share of the global economy would suggest. … Read more