WSJ Capital Account column (Greg Ip): "The good news, according to [Kristin] Forbes [MIT], is that a plunge in stocks driven, for example, by disappointment in AI would effectively write down the IOUs the U.S. issued to foreigners to finance its deficits ..."
"It could also lower the dollar, further correcting those deficits. The bad news is the losses inflicted on foreign investors could spill over to bond and currency markets." www.wsj.com/economy/glob...
Senegal: "In the interview published on Monday, Sonko said he had opposed “reckless restructuring”, arguing that it was not necessary because Senegal was meeting its debt repayment obligations and had good growth prospects." www.cnbcafrica.com/2026/senegal...
Kevin Carey
Kevin Carey
Kevin Carey
Microcosm of Ireland's journey along the Dixit-Stiglitz income growth product differentiation path.
Was on the road in Rochester NY yesterday; seeing this building brought home how the city is a microcosm of the American approach to business dynamics and innovation.
WSJ on the micro-finance backlash: "Two Cambodian human-rights groups have filed a complaint with the ombudsman of the International Finance Corp., alleging the World Bank’s private investment arm ignored its own standards ..."
Bahrain / prospectus for the new $1 billion Eurobond. Detailed discussion of the war impacts (see section 2026 Iran war), reference to the new UAE & Bahrain swap, and detailed description of the $60 billion total debt. www.londonstockexchange.com/news-article...
Angola / Sonangol: "To meet its frequent fundraising requirements, Sonangol is also in ongoing talks with Chinese financial institutions to secure a $4.8 billion loan to partly finance the construction of a new refinery in the Atlantic port of Lobito." www.msn.com/en-us/money/...
