Sergio Massa, a leftist presidential candidate, aims to launch a digital currency (CBDC) in Argentina. He calls it Moneda Digital Argentina (MDA). Central bank digital currencies (CBDCs) are digital tokens, similar to cryptocurrency, issued by a central bank. They are pegged to the value of that country’s fiat currency. However, CBDCs should not be confused […]
Related Posts
China’s Corporate Profits: A Mixed Bag in 2023
In 2023, China’s corporate landscape experienced varied outcomes, with non-financial firms reporting their first profit decline in five years. These companies logged a combined profit of 2.85 trillion yuan ($399 billion), a decrease of 100 billion yuan ($14 billion), or about 3%. This downturn was largely driven by a sluggish property market. It negatively impacted […]
Brazil’s Rising Debt Surpasses Argentina’s in Latin America
In 2023, Brazil surpassed Argentina to become the most indebted country in Latin America. This significant shift, marked by public debt reaching approximately 85% of its gross domestic product (GDP), emphasizes the changing economic landscape of the region. The Institute of International Finance, as reported by Instituto Millenium, provided data that highlights the fiscal challenges […]
Japan’s Political Gambit: Ishiba Calls Snap Election Amid Scandal
Prime Minister Shigeru Ishiba has dissolved Japan’s lower house of parliament, triggering a snap election for October 27, 2024. This bold move comes just eight days after Ishiba took office, following a damaging fundraising scandal that forced his predecessor’s resignation. Ishiba aims to clean up the Liberal Democratic Party’s (LDP) image by withdrawing endorsements from […]