economic

The foreign ministers of the European Union have reached a pivotal agreement to lift economic sanctions on Syria, as announced by the bloc’s foreign policy chief, Kaja Kallas. In her statement, Ms. Kallas emphasized the EU's commitment: "We want to help the Syrian people rebuild a new, inclusive and peaceful Syria." This declaration followed important discussions held in Brussels. This shift in EU policy mirrors recent actions from the United States, with President Donald Trump indicating last week that he would initiate…

In a significant milestone, the Monetary Policy Committee (MPC) gathered for its 300th meeting last Tuesday, a momentous occasion celebrated by the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, during a press conference in Abuja. Meetings like these often hold the weight of economic forecasts, yet they also reflect the pulse of the nation—a blend of caution and opportunity. Governor Cardoso emphasized that the committee reached a unanimous decision to maintain current policies. This choice speaks…

Pope Leo XIV has committed to preserving the teachings of the Catholic Church while boldly addressing contemporary challenges. He voiced concerns over economic systems that exploit both our planet and the marginalized. Addressing a crowd of thousands in St. Peter's Square, the Pope underscored the importance of the Church—home to 1.4 billion members—remaining anchored in tradition yet open to the world. He stated, "There is no place for religious propaganda or power struggles in the future of our beloved institution." In…

The recent report sheds light on an array of growing challenges faced by Ghana, which include alarming inflation rates, a weakening cedi, and increasing climate-related risks. Together, these factors are contributing to a significant rise in household vulnerability. The implications are profound, impacting not just the economy but the daily lives of countless Ghanaians. How can we respond effectively to these pressing issues? Over One in Four Ghanaians Now in Extreme Poverty More than 25% of Ghanaians…

Struggles in Central Somalia: A Glimpse into the Lives of Families In a quiet corner of Dusamareb, Somalia, Mohamed Mahmoud Hussein stands in his metal workshop, gripped by the unsettling reality that his doors may soon close for good. His concern, however, stretches beyond the confines of his business; it envelops his family. Five of his children have faced expulsion from school due to unpaid fees, a heart-wrenching consequence of his current struggles. “I owe $150 at Waabari School, where my daughter was…

Economic freedom. At first glance, this term may conjure images of spreadsheets, policies, and perhaps even the dusty pages of an economic textbook. Yet, peel back the layers, and you'll find that it is far more than an academic concept. Economic freedom intricately weaves its way through our lives, influencing the jobs we can secure, the quality and variety of goods available for purchase, the education our children receive, and even the very air we breathe. The Index of Economic Freedom,…

Significant Collaborations: Saudi Arabia and South Africa's Thriving Partnership Over the past year, a remarkable series of high-level discussions between Saudi Arabia and South Africa has unfolded, leading to some noteworthy agreements and deals that amount to billions of dollars. This burgeoning relationship is particularly evident in Africa's most industrialized nation, and there’s much more to come as corporate activities ramp up. The foundation of this growing partnership can be traced back to a pivotal…

Hope on the Horizon: DRC and Rwanda Sign Peace Agreement in Washington In a significant diplomatic move, the Democratic Republic of the Congo (DRC) and Rwanda are poised to sign a pivotal agreement in Washington aimed at fostering both peace and economic development. This agreement, crafted with careful attention to both nations’ interests, symbolizes a collective desire for stability in a region that has long been plagued by conflict. Earlier this week, representatives from the DRC and the M23 rebel group…

Recent projections from the International Monetary Fund (IMF) indicate a significant shift in the economic landscape of East Africa. By 2025, Kenya is anticipated to surpass Ethiopia, claiming the title of the largest economy in the region. This news, while hopeful for many, reflects the complex and often turbulent nature of economic growth and stability. The catalyst for this change has been a severe devaluation of the Ethiopian birr last July. This move, part of a broader strategy to stabilize the economy and…

In today's complex world, we are witnessing an alarming increase in refugee flows, particularly from regions marred by intense conflicts. The International Monetary Fund (IMF) highlights that these migratory waves often last significantly longer than those caused by natural disasters. This raises a critical question: how can we as a global community better respond to these ongoing crises? A striking observation from the IMF report sheds light on the relationship between natural disasters and migration patterns.…