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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A strong fiscal position is necessary to achieve strong economic growth, build resilience to shocks, and liberate Africa from its current pickle. Many African countries are still dealing with post-pandemic financial stressors—high borrowing costs and re-financing risks—and middling politics. This is consistent with the broad emerging market trend of rising public debt burden, rising much…
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