Risks to Nigeria’s sovereign credit rating remain, despite a smooth transfer of power from March’s presidential elections, as the change of government creates uncertainty over its economic policy, Fitch Ratings said in a statement on Thursday. Muhammadu Buhari of the All Progressives Congress (APC) is set to succeed the incumbent Goodluck Jonathan as Nigeria’s president on May 29, following … Continue reading
By Caleb Maupin The Nigerian elections, in which current president Goodluck Jonathan has lost to former military dictator Muhammadu Buhari, were highly contested. Violence broke out across Nigeria between supporters of the two candidates. Jonathan’s base of support is the Christian communities of the southern regions. Buhari’s base of support has been the Islamic regions. After … Continue reading
By Etienne Lepers While Turkey – with its ceaselessly falling currency – is struggling with the same global forces as other emerging markets, an internal struggle between President Erdoğan, Central Bank Govenor Erdem and deputy PM for the economy Ali Babacan is undermining Turkish economic vitality. Interest and currency rates have become subject to inter-departmental feuding generating significant financial uncertainty. Over the … Continue reading
By Daniel Djouder The new trend of low oil prices has rapidly escalated, carrying negative effects for producers and positive effects for the economies of importers, though these have been slow to become apparent. In this complex scenario, the oil-dependent country of Nigeria finds itself in a very peculiar position owing to a specific mix of … Continue reading
By Stratfor Global Intelligence The controversial bid by Nigerian President Goodluck Jonathan to seek re-election has jeopardized Nigeria’s political stability. The Boko Haram insurgency in northeastern Nigeria, which pushed back presidential and national assembly elections from Feb. 14 to March 28 because of security concerns, has complicated this picture. Gubernatorial and state houses elections set for Feb. 28 were … Continue reading
By Stratfor Global Intelligence Whoever wins Argentina’s presidential election, the next administration will be conditioned by Argentina’s debt burden. Repairing its standing in international financial markets has been important for Argentina for more than a decade. However, dwindling cash reserves and a return to default in 2014 because of extended litigation with holdout lenders has added … Continue reading
By Joseph Benzekri Nigeria’s deadly insurgent group Boko Haram declared its allegiance to ISIS on March 7, following what was reported to be female suicide bombings killing over 50 in Maiduguri. Much like ISIS, the equally nihilistic Boko Haram appears to be edging closer to its own caliphate in northern Nigeria. In light of increasing violence … Continue reading
By Zacks Equity Research iShares MSCI Turkey ETF (TUR) – the sole ETF focusing on Turkey – saw a terrible start to the year and is in fact the worst performing ETF in the emerging equities space this year. TUR has plunged roughly 17% this year as against flat returns by the broad emerging market funds … Continue reading
By Marco Aponte-Moreno and Lance Lattig Since the death of Hugo Chávez, Venezuela’s political leadership has moved from charisma to authoritarianism. Support for Chávez’s Bolivarian Revolution has fallen from 65% when the populist leader died to 22% today. The revolution’s erstwhile steward is Nicolás Maduro, Venezuela’s current president and Chávez’s hand-picked successor. Maduro lacks his mentor’s extraordinary … Continue reading
An Argentine judge on Thursday dismissed allegations that President Cristina Fernández had conspired to cover up Iran’s alleged role in the deadly bombing of a Buenos Aires Jewish center in 1994, Reuters reports. Argentine Judge Daniel Rafecas said that he would “discontinue” the case as “the evidence gathered far from meets the minimal standard,” Reuters reports, citing the … Continue reading