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/...
Microcosm of Ireland's journey along the Dixit-Stiglitz income growth product differentiation path.
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...
"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...
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 ..."
"when it continued financing Cambodian microfinance lenders, including Prasac, despite what they say is evidence of predatory practices." www.wsj.com/finance/bank...
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 ..."
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.