Why GDP, inflation, and FX numbers increasingly reflect narrative, not measurement Global markets depend on economic indicators that purport to be precise but often fall short. GDP growth expressed to the decimal, inflation to the basis point, and FX reserves to the dollar all offer a sense of certainty underpinning pricing and forecasting. Yet this…
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Christmas is no longer just a religious festival; over the years, it has become more of a celebratory holiday for spreading love and cheer. It is the most awaited time of the year, not just because you get to spend quality time with your loved ones or exchange gifts with them but also because businesses…
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In practical terms, President Kagame is poised to remain President for life as Rwandans continue to vote in favour of peace and development over justice and democracy. With a c.99% vote share in the 2024 presidential elections, Paul Kagame – the incumbent Rwandan President – crushed election victory and will be extending his nearly a…
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Suppose a central bank is incapable, or unwilling, to meet all the demand for foreign exchange at its official exchange rate and seeks to protect or provide a temporary stopgap for its foreign exchange reserves during unpalatable balance of payment adjustments. In that case, it often implements foreign exchange controls. Unfortunately, these restrictions typically encourage…
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