World economy

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Special Issue: Nigeria, the giant against the ropes (II)

MADRID | By Donato Ndongo-Bidyogo | For the last weeks Nigeria has made big headlines due to the kidnapping of more than 200 girls by the Islamist terrorist group Boko Haram. Most of the victims remain missing, as the first African economy faces systemic issues that compromise next year elections.


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Argentina and the economic crisis cliff

Amid an important devaluation of its currency, and with its central bank rapidly losing reserves, Argentina is entering a critical stage as it attempts to avoid a new economic crisis. In November 2013, Argentine President Cristina Fernandez de Kirchner decided to limit her public appearances and delegate to new ministers. Economy Minister Axel Kicilloff and Chief Minister Jorge Capitanich were tasked with revising the economic course of a government that is starting to show weaknesses. Today, not only is the Argentine public worried, but so too is the international community.



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Labour market as a guide to the monetary policy

MADRID | By Luis Arroyo | Experts at Afi made an analysis of the US’ labour market to forecast a possible turn in the economic policy. The answer is that such market is yet far from standardization. We can see three different moments according to the standard deviation in the chart above.


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Taobao now sells tickets to outer space

By Ray Kwong | After Virgin Galactic hurt the feelings of the Chinese people earlier this year by banning Chinese nationals from its space flights, prospects looked dismal for mainland space freaks. Perhaps that’s why 305 buyers signed up within minutes last Thursday when Taobao (yes, the online bazaar where you can truly buy anything) opened up registration for trips to outer space with the Dutch firm Space Expedition Corp. (SXC).


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Argentina’s debt case: Reading the tea leaves

MADRID | By Luis Martí | You’ll probably know by now that the Court has turned down the Argentinian request to hear an appeal of a lower court decision. The decision established that the unwillingness of Argentina to pay defaulted holdouts, while duly servicing restructured debt, violated the spirit of the pari passu clause. Well, there’s a lot to be said for this interpretation, and a lot against.


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Let’s hope Alan Krueger is wrong and Janet Yellen right

WASHINGTON | By Pablo Pardo | Maybe central banks and market participants are giving too much weight to the unemployment rate when trying to gauge future inflation. Instead, they should look at the short-term unemployment rate, because the long-term unemployed risk becoming economic pariahs. 


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IMF’s warning to the FED

MADRID | By The Corner | The International Monetary Fund (IMF) revised downwards its growth forecasts for the US from 2.8% in April 2014 to 2%, and maintained 2015 outlook in 3%. Furthermore, the institution believes that the country will not achieve full employment before 2017.



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Special Issue: Nigeria, the giant against the ropes (I)

MADRID | By Donato Ndongo-Bidyogo | Its oil reserves – 15.6 billion barrels, 2.5 million exported daily – and gas (three million cubic meters) make Nigeria the leading African economy, outperforming South Africa. A notable industrial potential, petrochemicals and cinema industries stand out: Nollywood released more than 7,000 movies in the last decade, just surpassed by India (Bollywood) and ahead of the USA (Hollywood).