Pakistan’s economy in ‘collapse’ as IMF visits

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POLITICAL MAYHEM Pakistan is locked in an endless cycle of servicing external debt. State Bank governor Jamil Ahmed last month said that the country owed US$33 billion in loans and other foreign payments before the end of the fiscal year in June. A diplomatic offensive has seen US$4 billion rolledContinue Reading

Stress tests ahead for Vietnam’s post-Covid boom

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People move past a clothing boutique selling locally made products in downtown Hanoi on October 29, 2014. A EU-Vietnam Free Trade Agreement promises to boost Vietnamese exports and growth. AFP / Hoang Dinh Nam

In 2022, the geopolitical tensions caused by the war in Ukraine, slowing growth in the Chinese economy and sharp rises in energy and food prices led to a significantly higher inflationary outlook globally. These factors all added to the risks confronting Vietnam as its economy recovered from its lengthy Covid-19 lockdowns. Communist Party General Secretary Nguyen Phu […]Continue Reading

Russia oil price cap accelerates de-dollarization

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The oil “price cap” of US$60 per barrel for Russian oil is a controversial move by the European Union and G7. The price cap prohibits Western insurers and shipping companies, which account for more than 90% of the marine insurance industry, from servicing vessels that carry Russian oil above $60 per barrel. The intention is lofty — […]Continue Reading

Jerome Powell’s China problem is just beginning

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TOKYO – Investors betting that the US Federal Reserve is throttling back on interest rate hikes aren’t paying attention to events in China. The jump in oil and other key commodity prices already points to a China reopening trade that’s likely only just beginning. In the last month, Xi Jinping’s economy swung suddenly from “zero-Covid” […]Continue Reading