The Venezuelan Observatory of Finance (OVF), an independent body composed of economists and experts, reported that Venezuela has experienced an inflation rate of 115% from January to July 2023. The OVF reported an increase from 110.8% in June to 115% in July. July’s monthly inflation rate was 7.2%, a 1.3-point decrease from June. This increase […]
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This comprehensive overview encapsulates significant economic and political developments from various African nations and their international engagements. We delve into Angola’s banking sector, facing a notable decline in excess reserves, indicative of broader economic pressures. Meanwhile, Rwanda seeks to bolster economic relations and secure substantial trade deals at the Indonesia-Africa Summit. In Lesotho, the diamond […]
Brazilian Steel Struggles Amid Import Surge
The Brazilian steel industry has witnessed notable shifts in early 2024, with crude steel production increasing by 6.2% in the first quarter, reaching 8.3 million tons. This growth occurs against a backdrop of surging imports, particularly from China, which rose by 25.4% year-on-year to 1.3 million tons. These imports have grown by an alarming 49.9% […]
From Ministries to Mansions: Argentina’s Massive State Property Purge
President Javier Milei’s administration has unveiled a daring plan to shrink Argentina’s government. The plan involves selling over 1,200 state-owned properties across the country. This decision aims to tackle the nation’s economic woes and reduce public spending. The government formalized this initiative through Decree 950/2024. The Agency for State Property Administration (AABE) will oversee the […]