Emerging Markets

  • Kenya’s Oil: The New Success Story In Africa?

    Kenya’s Oil: The New Success Story In Africa?

    Barely one year has passed since oil was first struck in Kenya. But with over $100 million in deals pouring into the country from major oil companies, Kenya could be pumping its first commercial oil as early as next year – an astonishing achievement helped by a hundred percent success rate for drilling in various parts of the country so far.

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  • Fiscal Governance: Can Africa Avoid The Mistakes Of The West?

    Fiscal Governance: Can Africa Avoid The Mistakes Of The West?

    The ongoing debt and financial crises have exposed the dangers of the dysfunctional fiscal governance present in the U.S. and Europe. As African countries prepare to enter sovereign debt markets, they should heed the west’s “warning” – to handle fiscal issues with transparency and accountability or risk heading down the same route.

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  • Nigeria’s Smuggling Problem: A Self-Inflicted Wound?

    Nigeria’s Smuggling Problem: A Self-Inflicted Wound?

    In 2012, customs sources say that Nigeria lost nearly $200 million in potential tax revenues to rice smuggling. Added to the annual losses from oil and other forms of commodity smuggling, Nigeria may be losing billions each year through its borders. But while the government is spending millions in order to secure its borders, perhaps it should look at its own trade policies, which may have encouraged the rampant smuggling in the first place.

    If you follow business and policy in Nigeria you have probably heard this story before:

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  • Will Argentina’s Energy U-Turn Save Its Oil & Gas Industry?

    Will Argentina’s Energy U-Turn Save Its Oil & Gas Industry?

    Little more than a year after its aggressive nationalist takeover of Spanish-owned oil company YPF, Argentina is now courting foreign investment once more for its energy industry – signalling a 180-degree reversal on its past “energy sovereignty” policies. This though should come as no surprise given yet another disappointing year for local oil and gas production; even as Argentina now has the world’s fourth largest reserves of shale oil.

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  • Mexico energy fire

    Mexico’s Energy Reform: A Double-Barreled Problem?

    On August 12th, Mexico’s President Enrique Pena Nieto unveiled a plan to change the nation’s constitution in order to allow private investment into its oil industry for the first time in over 50 years. Peña’s proposals are undoubtedly a step in the right direction, but it is unlikely to please either the Mexican nationalists (who advocate government control over oil) or potential foreign investors (who will demand more concessions).

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  • What The BRICS Development Bank Means For Africa

    What The BRICS Development Bank Means For Africa

    The statutes of a new development bank proposed by leaders of BRICS could be ready as soon as next year, as leaders of emerging economies plan to create a funding institution that can rival Western institutions such as the World Bank and the IMF, whom they accuse of bias and reflecting the interest of rich nations.

    The unexpected announcement by BRICS leaders at its Durban conference in earlier in March to establish a parallel development institution to challenge the dominance of the IMF and World Bank must have ruffled a few feathers across the Western World.

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  • Can Foreign Policy Cure Africa’s Dependency Syndrome?

    Can Foreign Policy Cure Africa’s Dependency Syndrome?

    Shrugging off memories of its colonial past, Africa today stands at a precarious crossroad. On one hand, it is being aggressively pursued by international heavyweights such as the United States, China and Japan – all of which promise billions in aid and investment. But on the other hand, will Africa be able fend off the exploitative hawks circling around her?

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  • Can Latin America Seize Its “Golden Decade”?

    Can Latin America Seize Its “Golden Decade”?

    Since 2003, Latin America has experienced a period of resurgence, with strong growth, low inflation and improved social policy outcomes. Cheap and abundant foreign financing and strong demand for the region's commodities, particularly from China, have been extremely positive for the region. But all that could change as advanced economies return to health and capital flows back to the West.

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  • china vs. india

    China vs. India: Who Will Win The Race To Be More Financially Open?

    Since the 2008 financial crisis, both China and India have taken steps to become more financially open. But while the Indian economy appears to be ahead at present, policy continues to segment onshore and offshore markets in both economies and policymakers face challenges in further financial integration.

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