While much of the world economy appears to be on the mend, South Africa is in trouble. Per capita income is declining and the economy is in recession for the second time in eight years. To restore investor confidence, Finance Minister Malusi Gigaba should consider calling in the IMF, writes Desmond Lachman.
The European experiment is under pressure, tested by the rise of nationalist politics. But for Asean, the EU still serves as an example of what might one day be possible, even if they have not tread identical paths towards union. The diversity of economies in Asia has meant embracing flexibility over rigidity.
Military spending is rising in many parts of the world, notably Asia and the Middle East. China’s outlay is estimated to have gone up by 120% since 2007. Small countries, too, are more focused on military issues. This signal about the changing global environment should be taken seriously, writes David Skilling.
Citizens have a key role to play in improving African leadership, writes Kingsley Moghalu. As Ameena Gurib-Fakim, the president of Mauritius, has said, the onus is on Africans: 'People have to start asking the right questions. Politicians, leaders, policy-makers in normal democracies are all accountable to the people.'
Of the many claims about Britain’s exit from the European Union, the most odd is that leaving the EU customs union opens the door to a massive expansion of exports, writes Denis MacShane. This is an illusion and the UK should tell the EU now that leaving the customs union is not a priority.
A new OMFIF report, 'Green finance for Global Public Investors', addresses the impact of climate change on financial markets, and the implications for public investors. Introduced by Wolfgang Schäuble, German finance minister, it features commentators from European governments, sovereign funds and development banks.
A financial system that facilitates the transition to a low-carbon economy is 'indispensable', according to Jens Weidmann, Deutsche Bundesbank president, opening an OMFIF seminar on green finance and the role of public investors in the development of the market at the Bundesbank's Frankfurt regional headquarters.
In a keynote speech at OMFIF's seminar on green finance held in Frankfurt at the Bundesbank's regional headquarters, Michael Meister, deputy German finance minister, said that it was time to understand that climate change may be as much a matter for financial markets as was the financial crisis.