Frontier / emerging market obsessive, author The Time Travelling Economist which explains what Marx missed and when countries escape poverty from 1670 to 2070
Charlie Robertson
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My new surprise looking at Africa's GDP figures: the biggest 10 countries account for 2/3 of GDP while the bottom half account for just 10% (the smallest 15 countries only 1.8%)
Romania is bigger than any economy in Africa
The continent as a whole is a little smaller than France (which is 7th)
Saudi Energy Minister Prince Abdulaziz bin Salman on what he calls the biggest energy security crisis the world has ever seen: “For me, to be silent is an admission, a humble admission of the fact that I don’t know what will happen.
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The Malawi fuel price here is what happens when a country runs out of strategic fuel reserves, and is already on the brink of default so can’t afford to subsidise
Agreed. There is a contradiction between bigger EU cohesion funding, which requires co-financing from national government, and the requirement for austerity to achieve euro adoption
Also austerity probably doesn’t help re-election chances in 2030
So more likely Hungary gets Euro by 2033 or 2034
Foreigners in Japan
On the right, the typical controls for a Japanese toilet
On the left, a translation polystyrene sticker helpfully provided by the Airbnb host
Also on the left, the deep imprints of desperate, frantic foreigners pressing Flush into the translation
Pretty amazing to see YoY Murban oil price rises of nearly 120% two months ago, and 49% YoY two weeks ago, become just +18% this morning .. and 12% for Brent.
I do meet a lot of Nigerians in London, but did not realise the UK is responsible for 2/3 of global "inward personal transfers" to Nigeria, at $12bn of $19bn in total in 2023
This appears to be such a misleading piece on the impact of Ebola. They cite an economic impact of $50bn when the three countries affected in 2014-15 had a combined GDP of $17bn. pubmed.ncbi.nlm.nih.gov/38299454/
As the US sits relatively insulated from the Hormuz closure, Pakistan surprises markets with a 100bp rate hike to 11.5%.
Probably the right move, but unhelpful for a government that was getting the macro right since 2023
www.bloomberg.com/news/article...
